Business

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

Outside it is the bleak midwinter. We are smack bang in the middle of some of the country’s best agricultural land. But inside the cavernous warehouse where we’ve come, you wouldn’t have a clue about any of that: there is no daylight; it feels like it could be any time of the day, any season

The owners of Shawbrook Group, the mid-sized British lender, are drawing up plans to kickstart London’s moribund listings arena with a stock market flotation, valuing it at more than £2bn. Sky News has learnt that BC Partners and Pollen Street Capital, which took Shawbrook private in 2017, are close to appointing Goldman Sachs to oversee

Tide, the business banking services platform, has hired advisers to orchestrate a fresh share sale as it pursues rapid growth in the UK and overseas. Sky News understands that Tide has been holding talks with investment banks including Morgan Stanley about launching a primary fundraising worth in excess of £50m in the coming months. The

Donald Trump has said the UK is making “a very big mistake” in its fossil fuel policy – and should “get rid of windmills”. In a post on Friday on his social media platform, Truth Social, Mr Trump shared news from November of a US oil producer pulling out of the North Sea, a major

An outsourcing group backed by Lord Hammond, the former chancellor of the exchequer, is among the suitors circling Telent, a major provider of digital infrastructure services. Sky News has learnt that Amey, which endured years of financial difficulties before being taken over by two private equity firms in 2022, has tabled an indicative offer to

The Post Office is proposing a big hike in the fees that banks pay to allow their customers to access its network as it attempts to secure additional funding to boost postmasters’ pay. Sky News understands that more than two dozen banks and building societies are considering a proposal submitted to them recently by the

The cap on bus fares has risen to £3 in much of England today as new government policy took effect. It means the maximum a bus passenger will pay for a single journey is now £3, £1 more expensive than before, as the government increased the cap from 1 January. It’s the latest in a

UK business goes into the new year in a surly mood. New Chancellor Rachel Reeves‘s hike in employer’s National Insurance contributions (NICs) in her autumn budget will raise the cost of employing people and that is likely to have an impact on both hiring and investment. For individual sectors, there are specific challenges: the car

As energy bills become more expensive from 1 January, respected forecasters have said they are likely to rise further in spring instead of fall, as first anticipated. The energy price cap rises from January, bringing the cost of a typical annual bill to £1,738 – £21 a year more than from October to December. Bills

The operator of nearly 150 Pizza Hut restaurants in the UK is in advanced talks with potential buyers as it races to wrap up a deal to secure its future. Sky News has learnt that Heart With Smart (HWS), the US-owned brand’s biggest UK franchisee, is aiming to select a preferred bidder in January after

Almost 170,000 retail workers lost their jobs this year after the collapse of major high street chains, according to data. It is the highest since more than 200,000 jobs in the sector were lost in 2020 in the aftermath of the COVID pandemic, which forced retailers to shut their stores during lockdowns. The figures, compiled

Manchester United Football Club is to cut the funding it provides to its charitable arm as part of a purge of costs being overseen by Sir Jim Ratcliffe, its newest billionaire shareholder. Sky News has learnt that the Premier League club plans to inform the Manchester United Foundation that it intends to curb the benefits

Shoppers have complained after seeing Easter eggs already out on supermarket shelves. Easter Sunday is four months away, falling on 20 April next year, but chocolate eggs and hot cross buns have already been spotted for sale in shops including Morrisons, Tesco and Asda. Gary Evans, 66, from Margate, shared a picture of Creme Eggs

Searchlight Capital Partners, the private equity firm which has backed companies including Secret Escapes, is to lead a new funding package for Wefox, the European insurance company, that could be worth up to €170m (£141m). Sky News has learnt that Searchlight has effectively proposed stepping in to refinance Wefox’s existing bank debt as the group

An Oxford University spinout which is developing a new generation of weed-resistant herbicides has begun planting a $40m (£32m) fundraising with prospective backers. Sky News understands that Moa Technology, which was co-founded by the world-leading university’s head of plant sciences Professor Liam Dolan, is kicking off a Series C funding round. Moa has already raised

Cadbury says it is “disappointed” after losing its royal warrant after 170 years. The chocolate maker behind festive favourites such as Heroes and Dairy Milk is among the brands that have had their warrants withdrawn under King Charles. The development was reported in a list published by Buckingham Palace’s Royal Warrant Holders Association. Warrants are

Aviva has agreed a deal to buy rival company Direct Line for £3.7bn ahead of a Christmas Day deadline. The insurance firm announced the agreement with its smaller competitor a few weeks after a £3.3bn bid was turned down in November. A deal for the two firms would make them a force in motor insurance,

A leading construction industry body has warned the prime minister that measures unveiled in the budget will “fatally undermine” family-run companies in the sector, adding to the business backlash facing the government since the end of October. In a letter to Sir Keir Starmer seen by Sky News, Steve Mulholland, chief executive of the Construction

Japanese car giants, Honda and Nissan, have announced plans to merge. That would make them the third largest car maker by sales. The two companies said they had signed a memorandum of understanding, which would also include the smaller Nissan Alliance member, Mitsubishi Motors, in the talks on integration. Japan’s car makers have struggled to

The UK economy showed no growth in the last quarter, according to the revised figures from the Office for National Statistics (ONS). The previous estimate for July and September said the economy grew by 0.1%. Early estimates show that real GDP per head fell by 0.2% in the third quarter of 2024, and is 0.2%

An electric cargo bike logistics company which counts the fashion giant Zara among its partners has launched an urgent hunt for new backers. Sky News has learnt that Zedify, which has raised millions of pounds from investors including Barclays Sustainable Impact Capital, is working with Interpath Advisory on a review of its financing options. Zedify

Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learnt that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor on the January trip.

Retail giants including Asda, Marks & Spencer, Primark and Tesco will mount a new year campaign to warn Rachel Reeves that plans to hike business rates on larger shops will put jobs and stores under threat. Sky News has learnt that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and Kingfisher-owned

Tesla has recalled almost 700,000 of its electric vehicles because of an issue with the warning light on the tyre pressure monitoring system. Its warning light may not remain illuminated between drive cycles, failing to warn the driver of low tyre pressure and increasing the risk of a crash, the manufacturer said. The issue affects

Many months before farmers found themselves on the front pages of newspapers, after protesting in Whitehall against the new government’s inheritance tax rules, we at Sky News embarked upon a project. Most of our reports are relatively short affairs, recorded and edited for the evening news. We capture snapshots of life in households, businesses and

The cost of living crisis has “boosted” the secondhand industry, Sky News has been told, as more than £2bn is spent on pre-loved gifts this Christmas. Adam Jay, CEO of Vinted Marketplace, said the “trend” in buying pre-loved was “happening anyway” but described rising costs elsewhere as a possible “accelerator”. “I’m sure the cost of

The rugged mountains, limestone caves and spectacular waterfalls of Bannau Brycheiniog – the Brecon Beacons – attract visitors from all over the world. Tourism is a vital part of the local economy. But local attractions say the industry would be devastated by the Welsh government’s plans for a nightly visitor tax. “In an area like

The UK’s retail sales recovery was smaller than expected in the key Christmas shopping month of November, official figures show. Retail sales rose just 0.2% last month despite discounting events in the run-up to Black Friday. It followed a 0.7% fall seen in October, according to data from the Office for National Statistics (ONS). Sales

Dating apps changed single life forever when they brought swiping, liking and ghosting to the masses. Now, nearly two million people in the UK use online dating services to find love, according to Statista. But in the 12 years since Tinder revolutionised romance, many people say they fell out of love with the process. “Most