Business

The US jobs recovery stalled at the end of last year even as official figures confirmed annual record growth in employment numbers. Closely-watched data from America’s bureau of labour statistics (BLS) showed the world’s biggest economy added 199,000 jobs in December – well short of the 400,000 figure pencilled in by forecasters. Experts said a

Oil and gas companies operating in the UK’s North Sea are expected to report “near record” income in 2021 and 2022 as the price of energy skyrockets. Wood Mackenzie analysis says that UK oil and gas operators are projected to record around $17bn in cash flow for last year, and approximately $18bn this year. Such

Unions and fair pay campaigners are demanding a recognition of UK workers’ contribution to the UK during the coronavirus pandemic as the annual ‘high pay day’ arrives – albeit a day later than usual. The High Pay Centre said 9am on Friday would mark the time when the median FTSE 100 chief executive (CEO) would

The scrapping of pre-departure coronavirus testing for people arriving in the UK has resulted in a leap in interest in international travel, companies have reported. The measure, which was introduced in the run-up to Christmas to combat the Omicron variant, will be withdrawn from 4am on Friday across the UK now Scotland has decided to

Boris Johnson’s government is set to announce new measures to help with rising energy bills within the next month. Ministers across government have now concluded that “something needs to be done” on energy bills ahead of a 1 April rise, although they have not yet determined what form this assistance will take. This means the

A local authority-backed energy supplier with 170,000 customers faces collapsing within weeks as a last-ditch search for new funding nears its end. Sky News has learnt that Together Energy, which is 50%-owned by Warrington Borough Council, is likely to run out of money later in January without an emergency capital injection. A source close to

Business Secretary Kwasi Kwarteng will hold further talks with energy suppliers on Wednesday as the government continues to explore ways of softening the blow of a forecast 50% increase to household energy bills. A third round of talks between industry and ministers in the week since the Christmas break comes after Boris Johnson said he

A Serbian-born cable television tycoon has become the latest entrant to the Premier League’s eclectic roster of club-owners after striking a £100m deal to buy Southampton. Sky News has learnt that Dragan Solak, founder of United Group, has invested a chunk of his fortune in a controlling stake in the Saints, who sit 14th in

Apple has become the world’s first company with a $3tn (£2.2tn) stock market value. On the first day of trading in 2022, the Silicon Valley-based tech company’s shares briefly hit a record of $182.88 around midday on Monday. The stock later pulled back from that level, closing 2.5% higher at $182.01. The iPhone maker passed $2tn

Britain’s biggest high street bank is finalising plans to buy a stake in Bink, a fintech business which allows customers to ditch their plastic loyalty cards. Sky News understands that Lloyds Banking Group is close to investing millions of pounds in return for a minority stake in Bink, which was set up in 2015. Bink

One of Britain’s most acquisitive insurance companies has struck a £400m deal to snap up the group which distributes policies for the likes of Marks & Spencer and the RAC. Sky News has learnt that Markerstudy has agreed to buy BGL Insurance, which is owned by the group behind the Comparethemarket price comparison platform in

Twenty Conservative politicians have urged Boris Johnson to scrap energy taxes as bills continue to rocket. The MPs and peers have written a letter in the Sunday Telegraph to ask the prime minister and Chancellor Rishi Sunak to help consumers facing “fuel poverty”. Energy prices in the UK are being forced up faster than any

Microsoft says it is aware of a programming flaw which saw some customers’ Exchange servers stop processing emails just as the clock struck midnight on New Year’s Eve. System administrators, who are sharing workarounds on social media, have dubbed the bug Y2K22 – in the style of the Y2K bug which affected some computers at

Guy Hands, the billionaire financier, is plotting the sale of the Ministry of Defence’s (MoD) biggest landlord in what could be one of Britain’s biggest private equity deals of 2022. Sky News has learnt that Mr Hands’ Terra Firma Capital Partners has begun talks with investment banks about overseeing an auction of Annington Homes. City

Tencent Holdings, the Chinese technology behemoth, is taking a stake in Monzo, the British-based digital bank which has confounded expectations by securing a $4.5bn (£3.3bn) valuation. Sky News has learnt that Tencent, which has become a prolific investor in Europe‘s burgeoning tech sector, has subscribed to shares as part of a $100m (£74m) top-up to

New rules banning a loyalty penalty for car and home insurance customers take effect from 1 January. The rules mean customers renewing their policy will have to be offered a price no higher than if they were a new customer. They are designed to tackle the practice of “price walking”, where firms offer below-cost deals

The owners of Shawbrook, one of Britain’s biggest challenger banks, are exploring plans to list it on the London Stock Exchange less than five years after taking it private. Sky News has learnt that BC Partners and Pollen Street Capital, the two private equity firms which each own 50% of Shawbrook, are holding talks with

Taunton has been named as the house price hotspot of 2021, with average values rising 21.8% this year – three times the UK average of 6.2%. Prices in the Somerset county town increased by £56,546 to £315,759, according to Halifax. Newark in the East Midlands had the second-largest growth as values rose 20% in a

Liquidators of the Thomas Cook travel empire which became one of Britain’s best-known companies during its 178-year history have launched a bid to offload its stake in the company behind the UK’s air traffic control operations. Sky News has learnt that AlixPartners, the professional services firm, launched a process shortly before Christmas to sell Thomas

Households face an average hit of £1,200 to their incomes from the double whammy of rising energy bills and taxes, a think tank has said. The Resolution Foundation (RF) says families are facing a “cost-of-living catastrophe” when the energy price cap goes up and National Insurance contributions (NICs) rise by 1.25 percentage points in April.

A health minister has defended the government’s decision not to offer the hospitality sector more financial support, saying venues remain “pretty full”. Business leaders have issued a fresh call for more economic help for the hospitality sector after fears around the new Omicron variant led to a steep decline in trade in the usually busy

Footfall at shopping sites across the UK on Boxing Day fell to almost half of levels seen pre-pandemic, figures show. Shopping centres, usually filled with Boxing Day sale bargain hunters, saw footfall plunge by almost 50% compared to the same day in 2019, while high streets and retail parks saw falls of 38% and 40%.

Business Secretary Kwasi Kwarteng is to hold meetings with energy bosses today to address rapidly rising gas and electricity prices. Mr Kwarteng will meet with the bosses of major energy suppliers who are likely to ask the government for tax cuts and the relaxation of green levies. Last week, the industry’s trade body Energy UK

The Premier League is facing a fresh bout of boardroom upheaval with the resignation of its longest-serving independent director amid the COVID-induced chaos that has hit the top flight of English football. Sky News has learnt that Kevin Beeston, who joined the Premier League board in 2015, has informed colleagues that he plans to step

People are expected to do more post-Christmas sales shopping online but spend more in previous years, a survey has found. Shoppers plan to spend on average of £247 each in the end-of-year sales, an increase of £85 on last year and £61 more than in 2019, in a reassuring sign for online retailers, according to

Central London saw the biggest drop in footfall of anywhere in the country as concerns about the spread of the Omicron variant kept shoppers at home. The number of shoppers in the capital was 30.3% lower on the morning of Christmas Eve than it was on the previous Friday, new data from Springboard has shown.

The university spin-out venture chaired by Lord O’Neill, the former Treasury minister and Goldman Sachs economist, has secured backing from a syndicate of City investment giants. Sky News has learnt that funds managed by M&G Investments, Lansdowne Partners and Columbia Threadneedle are to invest in Northern Gritstone, a collaboration between the universities of Leeds, Manchester

Selfridges has been bought by a Thai retailer and Austrian property company in a £4bn deal, according to reports. The luxury department store chain was bought by the Weston family in 2003, who then went on to establish the Selfridges Group in 2010. But the Selfridges portfolio, which includes 18 sites across England, Ireland and

Energy providers are calling for urgent government intervention to tackle a “nationwide crisis” because of rising gas prices. In recent months, gas therm costs have soared, energy suppliers have collapsed and many have seen a hike in energy bills. Good Energy, EDF and trade body Energy UK are among those calling for immediate action. Chief

The businessman drafted in by Boris Johnson to advise on the supply chain problems which hit the British economy in the autumn has concluded that major infrastructure changes are needed to avert repeated crises. Sky News has seen an email sent by Sir Dave Lewis, the former Tesco chief executive, to participants in his review

Ryanair has revealed a “sudden downturn” in Christmas bookings has prompted it to slash January flights and pencil in annual losses more than twice as large as previously expected. The Dublin-based airline disclosed the figures as it outlined the financial impact of the Omicron variant and recent government restrictions designed to tackle its spread. It

Britain’s slowing economic recovery was even weaker than previously thought over the summer, according to revised official data. The updated figures from the Office for National Statistics (ONS) showed gross domestic product (GDP) rose by 1.1% in the third quarter, down from an earlier estimate of 1.3%. They add to more recent evidence that the

You can’t have Christmas without cardboard, or Boxing Day without a box for that matter. Corrugated board and the paper from which it’s made – fibre as it’s known in the industry – is a fundamental raw material during the festive season. Many parents will be familiar with a child enjoying the box more than