Business

Sky News analysis of new data shows that it is becoming increasingly difficult to buy a home, especially for people in the parts of the country on the lowest incomes. Rents are also rising, albeit at a more moderate pace, with the exception of London where prices are actually falling. The price of the average

Households in Britain could soon be spending more of their money on energy than any previous generation, including during the oil shocks of the 1970s and ’80s, according to Sky News analysis. If the energy price cap rises in line with current wholesale prices, by the end of the year the share of family expenditure

An advert that shows two girls hanging upside down while eating Dairylea cheese triangles has been banned after people complained it could encourage dangerous behaviour. The video on demand ad, broadcast on ITV Hub, All 4 and My 5 in August, featured the pair hanging upside down from a football goal before one opened the

UK workers saw their wage rises wiped out by surging inflation late last year, official figures show. Weekly earnings – excluding bonuses – rose by 3.8% in the three months to November compared to the same period a year earlier, according to the Office for National Statistics (ONS). But with inflation climbing to a ten-year

Amazon has announced that it will not stop accepting Visa credit cards for UK payments later this week as had been planned. In an email to customers, the online retailer said it was “working closely with Visa on a potential solution”. The move had been due to take effect on 19 January with Amazon blaming

Credit Suisse’s chairman has resigned just nine months into the role after breaching COVID-19 quarantine rules – in fresh controversy for the global investment bank as it recovers from a string of scandals. Antonio Horta-Osorio’s departure was announced by the Switzerland-based lender on Monday in an abrupt move that comes less than a year after

There is no winter sport resort quite like Chamonix. Nestled in the shadow of Mont Blanc, it has a glittering history and a reputation for challenging even the best skiers. People travel from all around the world to try their luck on these slopes. And now, the British can join them once again. For nearly

A former executive at Farfetch, the online luxury fashion platform, is a contender to become the next boss of ASOS, the £2.3bn digital retailer. Sky News has learnt that Andrew Robb, who left Farfetch in 2020, is among the candidates being considered by the London-listed company as the successor to Nick Beighton. The choice of

The high street retailer WH Smith has been plunged into a major pay row with investors amid heightened tensions over boardroom rewards as Britain grapples with a deepening crisis over pressure on household bills. Sky News has learnt that three of the main proxy advisers which issue guidance to City shareholders ahead of annual meetings

Lord John Sainsbury of Preston Candover – the former chairman of the supermarket chain – has died aged 94. The supermarket’s current chairman and chief executive announced the death of the Baron on Friday evening, saying he had lived a “remarkable life”. Martin Scicluna said: “We are all deeply saddened to learn of the death

Customers can expect to pay more for electrical and tech goods in 2022 with price increases “inevitable”, the boss of Currys has told Sky News. Speaking to Ian King Live, group chief executive Alex Baldock pointed to rising costs ranging from components and transport through to wages. However, he said the electrical retail giant would

Britain’s economy grew stronger than expected in November before the Omicron variant struck, bouncing back for the first time above pre-pandemic levels. The Office for National Statistics (ONS) said gross domestic product (GDP) had risen 0.9% during the month, up from a just 0.1% rise in October. Analysts had predicted a 0.4% rise in November.

Facebook in the UK is being sued for billions of pounds amid claims more than 44 million users had their data exploited. Competition law expert Dr Liza Lovdahl Gormsen has launched the class-action lawsuit against Facebook’s parent firm, Meta, at the Competition Appeal Tribunal, accusing the technology giant of abusing its market dominance, and seeking

An estimated 3% of the UK workforce was off work in late December while a fifth of businesses reported increased cancellations over the past month amid the surge in the Omicron variant, according to data released by the Office for National Statistics (ONS). The number-crunchers reported that 21% of firms had seen a rise in

Ovo Energy, the UK’s third-biggest gas and electricity supplier, is to cut a quarter of its workforce as part of a restructuring aimed at saving costs amid the deepening industry crisis. Sky News has learnt that Ovo could announce details of its plans as soon as Thursday, with roughly 1,700 out of 6,200 roles expected

US inflation has hit 7% for the first time in 40 years in the latest sign of the cost of living pressures squeezing consumers across the globe. Surging prices for used cars – up 37% on the same period last year – and higher rental costs helped drive the consumer price index (CPI) measure up

UK households have experienced the biggest slump in their financial wellbeing as a surge in the cost of living takes its toll, a new survey suggests. A quarterly household finance index compiled by Scottish Widows fell to 40.1 in the final quarter of last year, down from 44.0 in the third quarter. It was the

Two of the world’s biggest buyout firms have joined forces to pursue a multibillion pound takeover of Boots, Britain’s largest high street chain of chemists. Sky News has learnt that Bain Capital and CVC Capital Partners are assembling a joint bid for the retail behemoth, which trades from more than 2000 stores and employs over

SSE, one of Britain’s largest energy companies, has had to apologise after it advised customers to do star jumps, cuddle pets and eat porridge to stay warm in a blog post. OVO Energy owns SSE and said they are “embarrassed” by the blog, which was sent to customers “containing energy-saving tips”. The post has been

Bitcoin has fallen below $40,000 (£29,480) to hit its lowest level since August amid a wider sell off in risk assets – including some of the tech sector’s top names. The world’s biggest cryptocurrency briefly dipped to as low as $39,558 (£29,154) as it fell by more than 5% on Monday, adding to a slide

The number of lorries entering and leaving the UK under a scheme introduced during the HGV crisis last year is not being monitored, a trade has claimed. Unite believes ministers “panicked” last year and changed cabotage rules to allow companies from anywhere in the world to send lorries with foreign drivers to the UK to

Users of the Virgin Media O2 phone network will not face roaming charges this year, despite other major networks announcing an extra fee. EE and Vodafone – two of the UK’s four biggest networks – said they were reintroducing roaming charges for customers travelling to the EU in January, and Three is set to reintroduce

The British company which has orchestrated a torrent of retail share placings for cash-strapped companies during the pandemic is in advanced talks to sell a big stake to the world’s largest technology investor. Sky News has learnt that PrimaryBid is close to finalising the details of a $150m (£110m) funding round that will be led

Eyewitness: Remembering a job done By James Matthews, Scotland correspondent Hunterston is a human story too. It showed in the gathering of around a dozen former employees who lined the approach road to watch this nuclear power station, their station, breathe its last. The 40-second rapid release of steam into the cold January air was

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