Business

Saga is exploring ways to release money from its ocean cruises operation which could involve selling its two flagship vessels or offloading the entire business under a licensing arrangement. Sky News has learnt that the heavily indebted company, which is listed on the London Stock Exchange, is working with advisers on a range of potential

US aviation regulators have overturned their grounding of Boeing 737-MAX 9 planes following a mid-air panel blowout aboard an aircraft earlier this month but imposed an unprecedented restriction on the company. In an update on its work following the incident on an Alaska Airlines MAX 9 on 5 January, the Federal Aviation Administration (FAA) said

Drinks company Thatchers has lost a High Court trademark battle after it claimed supermarket chain Aldi “copycatted” one of its products. The Somerset-based cider maker sued the German discount chain for infringing the trademark of its Thatchers Cloudy Lemon Cider. It claimed that the supermarket had gained an “unfair advantage” by copying the drink in

Unavoidable hidden charges for online consumers, a practice known as drip pricing, is to be banned under a wider transparency drive. The Department for Business and Trade (DBT) said additional fees, which are only revealed late in the checkout process and cost customers £2.2bn a year, must be included in the headline price under the

The UK’s largest building society is dropping its cheapest mortgage rate to an eight-month low and significantly under the Bank of England’s base interest rate. From Wednesday, Nationwide will offer new remortgaging customers a 3.84% rate on a five-year fixed deal. Existing mortgage holders can get the low rate on additional borrowing and switcher deals,

Millions will be cut off from gas and electricity services this winter, as new research from Citizens Advice details the extent to which households are affected by the inability to afford prepayment power top-ups. The independent, state-funded advice service has said its advisers are helping more people than ever who cannot pay for energy. This

A review of Royal Mail’s letter delivery obligations that could see Saturday post scrapped is “predetermined”, according to an industry union leader. Communication Workers’ Union (CWU) general secretary Dave Ward was reacting to a story by Sky News on Saturday that regulator Ofcom was to launch a consultation on options for reforming the Universal Service

So-called door plugs on another Boeing model are facing inspections under a “safety alert” issued by US air regulators. The Federal Aviation Administration (FAA) recommended early on Monday that airlines operating Boeing 737-900ER jets ensure the parts are properly secured after some operators reported unspecified issues with bolts. The work was carried out in the

Compass Group, the FTSE-100 contract caterer, is in advanced talks to take over a rival business which provides hospitality services at landmark venues including Kew Gardens and the Royal Opera House. Sky News has learnt that Compass is this weekend putting the finishing touches to a deal worth more than £400m to acquire CH&Co, a

Ofcom will next week outline options for reforming Royal Mail’s service obligations that could pave the way for the abolition of Saturday postal deliveries amid warnings from the company’s boss that it may require a government subsidy to survive. Sky News has learnt that the regulator will on Wednesday publish a consultation paper on the

Mouthwash, teabags and sausages have all fallen victim to “shrinkflation” as manufacturers and retailers cut costs, a watchdog has found. Which? found that Listerine Fresh Burst mouthwash shrank from 600ml to 500ml but went up in price by 52p at Tesco, forcing shoppers to pay 21% more for 17% less – an increase to the

The Post Office board member responsible for overseeing the delivery of a controversial compensation scheme for sub-postmasters is to step down from its board. Sky News has learnt that Ben Tidswell, a former lawyer with the international law firm Ashurst who became a director of the Post Office in July 2021, is leaving after only

The boss of Fujitsu in Europe has admitted staff knew of bugs, errors and defects (BEDS) in the Horizon IT system as far back as 1999. Appearing before the inquiry into the Post Office scandal, Paul Patterson said it was “shameful and appalling” that the known glitches were not included in the witness statements used

There has been a shock fall in retail sales in the key December shopping period, sharpening the decline seen in recent months, official figures show. Data from the Office for National Statistics (ONS) said sales fell an unexpected 3.2%, despite Christmas and reported discounts offered by major chains and some positive reports by major high

The chancellor says he wants to cut taxes at the spring budget this year, declaring that doing so will be the quickest route to getting the economy growing again. Talking to Sky News on the fringes of the World Economic Forum in Davos, Jeremy Hunt said that while he has yet to see the fiscal

More than a third of adverts on Facebook Marketplace could be scams – with UK customers potentially losing nearly £60m on the platform in 2023, an investigation has found. Facebook Marketplace allows people to buy and sell new and used items such as cars, watches, games consoles, air fryers, shoes and handbags. The TSB retail

Kemi Badenoch, the business secretary, is seeking urgent talks with Fujitsu to thrash out a compensation package for sub-postmasters affected by the Post Office Horizon scandal. Sky News has learnt that Ms Badenoch wrote to Takahito Tokita, the Japanese company’s chief executive, in the wake of an acknowledgement from Fujitsu bosses that it had a

Directors of BP were meeting on Tuesday evening to finalise the appointment of Murray Auchincloss, the company’s acting chief executive, as its permanent boss. Sky News can reveal that the FTSE-100 oil major’s board has gathered at a central London hotel to agree the details of Mr Auchincloss’s appointment as the successor to Bernard Looney.

A plan to boost the security of critical imports has been revealed by the government following a host of disruptions to global supply chains. The Department for Business and Trade said it had been working with key industry groups for several weeks to identify products the country could not do without and should be “safeguarded”.

Wage growth has slowed but still remains well above the rate of inflation while unemployment is unchanged, according to official figures. Average weekly wage growth, which excludes bonuses, eased to 6.6% in the three months to November, from 7.3% a month earlier, the Office for National Statistics said. It means pay packets grew faster than

New strikes have been announced by the train drivers’ union ASLEF. Drivers will stage fresh industrial action and an overtime ban from the end of the month in a long-running pay dispute, the union said. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the

Six people have been arrested over a suspected plot to disrupt the London Stock Exchange, the Metropolitan Police has said. The force said it began its investigation after receiving information from the Daily Express on Friday. Activists from a group called Palestine Action were allegedly intending to target the exchange on Monday morning. It is

Plans for a new government information campaign to tackle the explosion in online fraud have sparked divisions among major banks over concerns about its cost and potentially conflicting public messages. Sky News has learnt that the Home Office has in recent weeks been in discussions with major lenders including Barclays, Lloyds Banking Group and Santander

Vue International, Europe’s largest independent cinema operator, is finalising a fresh debt restructuring after the Hollywood actors’ strike halted the release of a string of blockbuster movies. Sky News has learnt that UK-based Vue, its shareholders and lenders are in the process of organising the company’s second debt-for-equity swap in 18 months in a bid

What lies 1,000 metres beneath the North Sea could help the climate of the atmosphere above. And I’m on my way down to see it. The rattly lift drops at 10 metres per second, the speed of a sprinter, ruffling the air and flapping my shorts as it plunges down. Yes shorts. I wear a

US flight safety regulators are to intensify their scrutiny of Boeing in the wake of the mid-air panel blowout a week ago aboard one of the company’s planes. The announcement was made by a top Federal Aviation Administration (FAA) official who is working on the investigation into the scare aboard the Alaska Airlines flight on

Shipping costs have risen by more than 300% since November amid the disruption caused to freight in the Red Sea from attacks, according to fresh data. Just hours after US and UK-led attacks on Yemen aimed at preventing renewed assaults on shipping by Iran-aligned Houthi rebels, it was revealed that freight prices continued to rise

The UK economy returned to growth in November, according to official figures that are being closely watched amid fears the prospect of recession remains on a knife edge. The Office for National Statistics (ONS) reported output growth of 0.3% for the month – recovering from a 0.3% decline witnessed in October when many weather-sensitive sectors

The boss of Ryanair has complained of “minor issues” with new aircraft delivered by Boeing as the US plane manufacturer battles to contain the fallout from its latest safety scare. Michael O’Leary had used an interview with the Financial Times earlier this week to raise concerns about quality control at the US firm in the

A US regulator has reluctantly given its approval for funds holding Bitcoins to be traded on the US stock exchange. The approval by the US Securities and Exchange Commission (SEC) – an independent agency which has a primary purpose of enforcing laws against market manipulation – will allow investors to gain exposure to Bitcoin without

The head of beleaguered plane maker Boeing has said “a quality escape” occurred in safety checks which led to a mid-flight blowout when a door ‘plug’ came off during a flight involving one of the company’s jets. Chief executive Dave Calhoun explained that the “quality escape” to which he referred was “anything that could potentially

It is, says Chancellor Jeremy Hunt, a spending bombshell that will mean the Labour Party breaks its fiscal rules or imposes swingeing taxes on the public. The shadow chancellor, on the other hand, says it’s a necessary and affordable measure. Whoever you believe, and we’ll get on to the details shortly, it’s fast becoming clear

The justice secretary is meeting with senior judges today to discuss ways to accelerate the appeals of those convicted in the Horizon scandal, with cabinet minister Mel Stride saying an announcement could come this week. The government is facing fresh calls to act following the airing of the ITV drama, Mr Bates vs The Post