Business

It is no surprise to see a government that claims to be committed to making economic growth a priority giving the green light to expansion of Gatwick Airport and Luton Airport. Nor, for that matter, would it be a surprise for a third runway at Heathrow Airport to be given the go-ahead by Sir Keir

There has been a surge in the pace of wage growth but a rise in the unemployment rate, according to the latest official figures. The Office for National Statistics (ONS) reported that both basic pay excluding bonuses, and average weekly earnings, rose at an annual rate of 5.6% in the three months to November. That

One of the things that made President Donald Trump’s inauguration distinctive was the prominence of Silicon Valley elite. Easily identifiable were the world’s three richest men – Elon Musk, Jeff Bezos and Mark Zuckerberg. And that’s not to mention some of the billionaires not placed directly in view of the cameras. When the riches of

Rachel Reeves will hold talks with some of Wall Street’s leading financiers in Davos this week, less than hours after Donald Trump’s second US presidency gets underway. Sky News understands that the chancellor will attend a breakfast hosted by JP Morgan on Wednesday amid speculation about the threat of US tariffs being imposed on the

The private equity owner of Asda has struck a deal to buy a controlling stake in a group which specialises in backing British SMEs. Sky News has learnt that TDR Capital has agreed to acquire a majority interest in CorpAcq, less than six months after the so-called ‘corporate compounder’ aborted a deal to list in

The government doesn’t think Donald Trump will impose trade tariffs on the UK, but is “prepared for all scenarios”, a cabinet minister has said.  Darren Jones, the chief secretary to the Treasury, told Sky News’ Sunday Morning with Trevor Phillips that the former president’s return to the White House “could be an enormously positive thing

The owner of Poundland, one of Britain’s biggest discount retailers, has drafted in City advisers to explore radical options for arresting the growing crisis at the chain. Sky News has learnt that Pepco Group, which has owned Poundland since 2016, has hired consultants from AlixPartners to address a sales slump which has raised questions over

TikTok has said it could go dark on Sunday after the Supreme Court ruled against its bid to avoid a ban that could shut the app down. The looming ban is the end result of 2024 legislation passed on national security concerns that called for TikTok parent ByteDance to sell the popular short-video app or

The UK’s benchmark stock index has reached another record high. The FTSE 100 index of most valuable companies on the London Stock Exchange closed at 8,505.69, breaking the record set last May. It had already broken its intraday high earlier on Friday, meaning it reached a high not seen before during trading hours. The weakened

There has been a surprise contraction in retail sales in December, despite the month being key for many retailers due to Christmas shopping, official figures show. Retail sales fell 0.3% last month, according to the Office for National Statistics (ONS). No drop at all was expected, not least a 0.3% drop. Sales growth of 0.4%

Fears have been raised over the robustness of Britain’s trade sanctions against Russia after the main government department enforcing the rules admitted it has no idea how many cases it is investigating. HM Revenue and Customs (HMRC), which monitors and polices flows of goods in and out of the country, says it had no central

The UK economy just about returned to growth in November after two months of contraction, the latest official figures show. Gross domestic product (GDP), the standard measure of an economy’s value and everything it produces, grew by 0.1%, according to data from the Office for National Statistics. It was expected to grow by 0.2%. Money

Forget this week’s minor decrease in the UK inflation number.  The most important European data release was the confirmation from Germany that, during 2024, its economy contracted for the second consecutive year. Europe’s largest economy shrank by 0.2% during 2024 – on top of a 0.3% contraction in 2023. Now it must be stressed that

There’s been a surprise fall in inflation to 2.5% after two months of rises, official figures show. It means prices are still rising but at a slower pace than before, according to Office for National Statistics (ONS) data for December. Economists had expected the figure to remain at 2.6%, the level recorded in November. Inflation

Chancellor Rachel Reeves has been accused of refusing to “face up to her own failures” by “jetting off to Beijing” during a week of market turmoil. Shadow chancellor Mel Stride accused the chancellor of ducking difficult questions as the “government was losing control of the economy” while Ms Reeves visited China over the past week

The former chief of the defence staff, the head of the BBC’s commercial arm and the chair of the Football Association are among the notable figures lined up to aid government efforts to deploy Britain’s ‘soft power’ more effectively on the global stage. Sky News has learnt that General Sir Nick Carter, Tom Fussell and

Pizza Hut’s biggest UK restaurant franchisee is closing in on a rescue deal that would salvage the vast majority of its British outlets and jobs. Sky News has learnt that Directional Capital, an investment firm which already controls much of Pizza Hut’s dine-in operations in Denmark and Sweden, is in advanced talks to acquire roughly

The government will “mainline AI into the veins” of the UK, with plans being unveiled on Monday by Sir Keir Starmer. The prime minister is set to promise investment, jobs and economic growth due to a boom in the sector. It comes as his government battles against allegations they are mismanaging the economy and stymied

The health secretary has said that the cabinet is aware of the “pressure” on Chancellor Rachel Reeves amid volatile markets and a challenging broader economic picture – but appealed for the public to “give her time”. Wes Streeting argued that the public “underestimates” the “amount of heavy-lifting” Ms Reeves has had to do and will

The proportion of 25 to 34-year-olds living with their parents has risen by more than a third in just under two decades, according to new analysis. Last year, the share of the age group living at home was almost a fifth (18%), up from 13% in 2006, the Institute for Fiscal Studies (IFS) said in

The London Stock Exchange is preparing to do battle for one of Europe’s biggest initial public offerings for years as Verisure, the domestic security systems provider, kicks off plans for a flotation valuing it at more than €20bn (£16.7bn). Sky News has learnt that Verisure’s owner, the private equity firm Hellman & Friedman (H&F), is

Making Britain better off will be “at the forefront of the chancellor’s mind” during her visit to China, the Treasury has said amid controversy over the trip. Rachel Reeves flew out on Friday after ignoring calls from opposition parties to cancel the long-planned venture because of market turmoil at home. The past week has seen

The pound has come under renewed pressure at the end of a torrid week for the UK currency, falling to fresh 14-month lows against the dollar. Sterling lost almost a cent, to stand just above $1.22 at one stage, on the back of higher support for the greenback after US employment data came in much

The price of resale tickets could be capped under plans to stop the public being “fleeced” by professional touts, the government has announced. The limit could range from the cost of the original ticket to a 30% uplift, with a consultation to be launched on the specifics of the measure. Some in No 10 ‘a

The chancellor is under pressure because financial market moves have pushed up the cost of government borrowing, putting Rachel Reeves’ economic plans in peril. So what’s going on, and should we be worried? What is a bond? UK Treasury bonds, known as gilts because they used to literally have gold edges, are the mechanism by

How worried should Rachel Reeves be about the fact that the interest rates on government bonds have leapt to the highest level in more than a quarter of a century? More to the point, how worried should the rest of us be about it? After all, the interest rate on 30-year government bonds (gilts, as

Piers Morgan, the broadcaster and journalist, is leaving Rupert Murdoch’s British empire to focus on expanding his Uncensored YouTube channel in the US and other international markets, underlining prominent media figures’ accelerating shift away from traditional outlets. Sky News can exclusively reveal that Mr Morgan and News UK – publisher of The Sun and The

Grocery shoppers are being warned of renewed hikes to food costs in the months ahead due to retailers passing on budget tax hike costs. The British Retail Consortium (BRC) warned that food prices will rise by an average of 4.2% in the latter half of the year – piling more pressure on households at a

UK long-term borrowing costs have hit their highest level since 1998. The unwanted milestone for the Treasury’s coffers was reached ahead of an auction of 30-year bonds, known as gilts, this morning. The yield – the effective interest rate demanded by investors to hold UK public debt – peaked at 5.21%. At that level, it

There is mounting evidence that consumers are facing hikes to bills on many fronts after Next became the latest to warn of price rises ahead. The homewares to fashion retailer said it was to implement an “unwelcome” 1% rise to prices this year to help it cover off an anticipated £67m rise to its wage

ClearScore, the credit information provider which came close to being swallowed up by FTSE-100 giant Experian seven years ago, is reaffirming its independent growth prospects with the purchase of a smaller UK fintech. Sky News understands that ClearScore will announce on Tuesday that it has bought Aro Finance, a Manchester-based credit marketplace which counts Argos

More than half of private sector firms are planning price hikes to help offset looming tax increases announced in the chancellor’s first budget , according to a corporate lobby group. The British Chambers of Commerce (BCC) warned business confidence was at its lowest level since the market meltdown that followed the Conservatives’ mini budget of

A television network majority-owned by David Montgomery, the media entrepreneur, is to snap up the licence to operate a London-focused TV station from Lord Lebedev, owner of the capital’s weekly Standard newspaper. Sky News has learnt that Local TV Ltd, which was acquired by Mr Montgomery in 2017, is close to announcing a deal to