Business

A flood of companies announced they were either leaving the CBI or suspending their membership after a series of allegations of sexual misconduct against staff. The rush for the exit door came after the Guardian newspaper reported that a second woman had made a rape allegation – against two male CBI co-workers. Here are some

If one were to compile a list of some of the most prestigious blue-chip UK employers, it would probably include NatWest, BP, Shell, Aviva, the John Lewis Partnership, Virgin Media O2, WPP, Phoenix Group, BT, PwC, EY, Schroders and AstraZeneca. Were that list to be enhanced with prestigious foreign-owned businesses that are major employers in

A dip in retail sales last month could be mainly explained by a hit of poor weather, according to experts. The Office for National Statistics (ONS) said retail sales volumes fell by 0.9% in March – the first month on month decline of the year to date and worse than the 0.5% decline forecast by

The scandal-hit CBI, Britain’s biggest employers’ group, says it has passed fresh information to the police relating to a report of a “serious criminal offence”. The body said it was “liaising closely” with officers as it remains mired by allegations of historic workplace misconduct. They culminated in chief executive Tony Danker being sacked earlier this

Interest in new electric vehicles may be declining, data from the UK’s largest car sales website suggests. The volume of new electric car searches, ad views and messages to retailers on the Auto Trader platform was down nearly two thirds (65%) from the beginning of last year to March this year. Auto Trader has attributed

The government has made it its primary aim to halve inflation by the end of the year but things aren’t quite going to plan. Britain has shot up the leader board and now has western Europe’s highest rate of consumer price inflation. Economists were expecting the headline rate to fall from 10.4% to 9.8% in

Strong progress has been made on raising wages for the lowest paid, but the UK still remains a “laggard” on employment standards, a new report has said. The Resolution Foundation’s latest figures show the minimum wage has driven salaries up in the UK, with the number of people on the lowest wages falling below 10%,

The number of companies entering insolvency hit its highest level for more than three years in March, according to official figures. Commentators blamed a combination of higher interest rates and wider inflation for the 16% increase recorded last month across England and Wales. The Insolvency Service reported 2,457 corporate insolvencies – up from 1,784 in

Energy firms installing prepayment meters will be required to try to contact a customer at least ten times and conduct a “site welfare visit” before forcibly conducting the installation, new guidelines will say. Energy company workers will also be required to wear body cameras or sound recorders to make sure new energy regulator rules that

Air France and Airbus have been found not guilty of involuntary manslaughter over the crash of Flight 447 in 2009 that killed 228 people. The Airbus A330 was travelling from Rio de Janeiro to Paris when it crashed into the Atlantic Ocean during a thunderstorm in June 2009, killing people from 33 countries. Both Air

Barclays is joining the ranks of global investment banks taking the axe to jobs amid a slowdown in dealmaking and stock market flotations. Sky News has learnt that the British lender will this week cut more than 100 roles in its investment bank, with sources saying the layoffs would not be confined to a single

A former executive at Funding Circle, the London-listed finance group, has raised millions of pounds to launch a digital platform that promises to give small businesses instant credit decisions. Sky News understands that Jerome Le Luel, who spent nearly seven years as Funding Circle’s chief risk officer and head of lending strategy, is close to

Royal Mail and the Communication Workers Union (CWU) have reached an agreement in principle amid a long-running dispute over pay and employment terms. In a joint statement with Royal Mail, CWU confirmed the agreement will now be considered by the executive of the union before it goes before the membership. The details of the proposed

The giant American financial investor Carlyle is in talks about a major investment in Manchester United Football Club as the auction of the Premier League side nears its concluding stages. Sky News has learnt that Carlyle is among a handful of parties which have pitched proposals to acquire a minority stake in the Old Trafford

Montana has passed a bill banning TikTok in the state. The state House voted 54-43 to pass the bill – which goes further than prohibitions in place in nearly half the states and the US federal government that prohibit the video-sharing app on government devices. The measure now goes to Republican Governor Greg Gianforte for

The owner of British gambling brand William Hill has said profit is to rise and there is to be no further impact from the record fine it was issued by the UK gambling regulator last month. 888 Holdings has said there is to be “No further expected impact on our UK operations or revenue expectations

The chancellor has told Sky News there is “no room for complacency” in tackling the UK’s economic problems after official figures revealed no GDP growth in February. But Jeremy Hunt said that while inflation was too high and growth too low, he was confident that his budget plans unveiled last month would help turn things

Jeremy Hunt struck an upbeat tone following the publication of the latest economic growth data for February. “The economic outlook is looking brighter than expected – GDP grew in the three months to February and we are set to avoid recession,” he said. In some respects he’s right. Even though the country was deep into

Andrew Bailey has called into question whether UK banks have large enough cash buffers to cope with crises similar to the recent run on Silicon Valley Bank. The Governor of the Bank of England (BoE) said last month’s turmoil, which led to the rapid takeovers of the bank’s US and UK arms, served as a warning

The UK economy flatlined in February, with no growth in GDP, according to official figures. Civil sector strikes and low energy consumption offset growth in areas such as construction, the Office for National Statistics (ONS) data showed. It followed growth of 0.4% in January and confirmation that the UK economy avoided recession in the second

The overall supply of candidates for jobs has increased for the first time in more than two years, a survey of recruiters suggests. While the rise in the availability of workers in March was “modest”, it marks the first such upturn in the UK since February 2021, a report from the Recruitment and Employment Confederation

The president of the CBI expressed doubts about the survival of Britain’s biggest business lobbying group if it had run a conventional process to recruit a new chief. Sky News has learnt that Brian McBride told a group of members on Tuesday afternoon that he was concerned that the CBI might not have withstood a

Thousands of UK Vodafone customers have complained after suffering from a broadband connection outage. Downdetector, a website where people can log outages, reported a peak of 2,820 people experiencing problems on Monday morning. Vodafone said in a post on Twitter: “We’re aware of and investigating an issue impacting some of our home broadband customers since

Wizz Air was the worst major airline for flight delays from the UK last year, according to an investigation. The figures, from the Civil Aviation Authority and reported by the PA news agency, found that the Hungarian carrier’s UK departures were an average of 46 minutes and six seconds behind schedule last year. This delay

Atom Bank, the app-based lender, has picked advisers to secure a further £100m in capital in what is expected to be its final fundraising before an attempt to list its shares publicly. Sky News understands the Durham-based company is working with bankers at Jefferies on a share sale that will take place in the coming

The FTSE-100 gambling giant behind Paddy Power is lining up a US-based businessman as its next chairman – a move that will further cement plans to abandon its presence on the London stock market. Sky News has learnt that Flutter Entertainment, which also owns SkyBet and Betfair, is in advanced talks to appoint John Bryant

Britain’s pensions lifeboat is to hoist a ‘for sale’ sign above Kodak Alaris, the photographic equipment group it took control of as part of a rescue of its retirement schemes. Sky News has learnt that the Pension Protection Fund (PPF) has kicked off talks with bankers about an auction of the company behind the ‘Kodak

High interest rates, US bank failures and geopolitical divisions in Europe are reasons why the world economy is expected to grow less than 3% in 2023, the chief of the International Monetary Fund (IMF) has said. The growth is down from 3.4% last year, and even further below the average of 3.8%, increasing the risk

Illegal immigrants will have their bank accounts shut down in a new crackdown by the Home Office – who have been accused of “demonising” asylum seekers. The Home Office announced it began sharing data with the financial sector on Thursday so it can refuse to open new bank accounts and close existing accounts of people

EY, the big four accountancy firm, has ended the secondment of one of its employees to the CBI as the business lobbying group grapples with an unfolding crisis over allegations of sexual misconduct. Sky News has learnt that EY has opted not to renew the secondment of a staff member who was serving as an

Some of Britain’s leading entrepreneurs and financiers are facing significant financial losses from the implosion of Vashi, the upmarket jeweller. Sky News can reveal that Sinclair Beecham, the co-founder of Pret a Manger, Nick Wheeler, founder of the shirtmaker Charles Tyrwhitt, and William Jackson, chief executive of London-listed private equity firm Bridgepoint, are all shareholders

Some of the UK’s biggest and best-known businesses say they are closely watching the unfolding crisis at the CBI. Sky News contacted more than 30 FTSE 100 and FTSE 250 companies on Thursday and found that many of those who are CBI members are keeping their membership – for now. It comes after a number

Coach travellers will be asked to delay Channel crossings over Easter as ferry companies and the Port of Dover attempt to avoid a repeat of the shambolic delays that blighted the start of the school holidays last weekend. Thousands of holidaymakers, many of them children on school trips, faced delays of up to 18 hours