Business

Business Secretary Kemi Badenoch has hit out at the former Post Office chairman after he alleged he was told to “stall” spending on compensation for Horizon scandal victims ahead of the next general election. Henry Staunton, who was ousted by the business secretary last month, used an interview with The Sunday Times to suggest that

Elliott Advisors, the owner of Waterstones, is plotting a £700m takeover of Currys, the London-listed electrical goods retailer. Sky News has learnt that Elliott, best-known for its activist sieges against the boards of some of the world’s largest companies, is working on a bid for one of Britain’s best-known high street names. This weekend, it

It’s a frosty morning on Kidsley Farm in Derbyshire, a rare thing in this unusually warm winter. Andrew Dakin’s beef herd is housed in the old brick barns, their breath steaming in the chill air. Alongside scuttling chickens and tractors of varying vintages, this is the very image of a traditional farmyard. But for how

Energy bills are projected to fall by an average of 15% – equivalent to £293 in annual savings – as a mild winter meant high gas storage levels. A closely watched forecast by Cornwall Insight indicates energy bills from April to June will drop to £1,635 a year for the typical user. By comparison, average

Last year was a tumultuous one for NatWest Group. The lender was engulfed in a damaging row over ‘debanking’, during which it lost its highly regarded former chief executive Dame Alison Rose. NatWest confirmed this morning – as reported earlier this week by Sky’s Mark Kleinman – that Paul Thwaite, the bank’s former commercial banking

Retail sales have grown significantly – far exceeding expectations – as consumer spending bounced back in January. The 3.4% increase in retail sales is more than double the 1.5% rise forecast by analysts – and suggests the economy is recovering. On Thursday, the UK officially entered recession after two consecutive three-month periods of contraction –

Campaigners are urging the government to double maternity pay amid fears mothers are making “drastic” choices because they cannot afford to live on the current statutory weekly amount. The amount should be increased to £364.70, according to trade union Unison and charity Maternity Action. Both organisations say they are concerned some women are going back

The UK economy has officially entered recession, figures show. A recession is defined as two consecutive three-month periods where the economy contracts rather than grows. A major measure of economic growth, gross domestic product (GDP) shrank 0.3% between October and December, the latest Office for National Statistics (ONS) data shows. It’s a steeper fall than

A UK recession is “in the balance” but there are signs growth is starting to pick up, the governor of the Bank of England has said. Andrew Bailey made the comments as he hailed Wednesday’s inflation data – which revealed it remained at 4% in January – as “quite encouraging” amid the Bank’s ongoing attempts

Takeaway delivery strikes will be held every Friday and on holidays if demands are not met, an organiser has said ahead of the Valentine’s Day stoppage. A group calling itself Delivery Jobs UK says up to 4,000 delivery riders could strike between 5pm and 10pm on Wednesday night as there are four full WhatsApp groups,

The right-to-buy scheme must be reformed to ensure those most in need have access to secure accommodation, councils have warned. The Local Government Association (LGA) said the scheme, that enables social tenants to purchase their homes with big discounts, meant that 7,449 social homes were lost on a net basis during the last financial year.

Bitcoin has returned to the $50,000 level for the first time since December 2021, riding on the coat tails of a wider rally for US stocks. The world’s largest cryptocurrency, which hit one-month highs last Friday, maintained its momentum on Monday by rising almost 5%. Rivals, such as ether, saw similar percentage moves. Analysts credited

A former chief economist at the Bank of England has expressed disappointment at Labour’s decision to axe its £28bn green investment pledge. Andy Haldane, who is now the managing director of the Royal Society of Arts, told Sky’s Sophy Ridge that the original promise “led the world” in its ambition, and would have benefitted the

The UK arm of The Body Shop has entered administration, threatening jobs and stores. As first reported by Sky News, FRP Advisory has been brought in to handle an insolvency process just weeks since the new owners took control of the cosmetics retailer. The Body Shop has roughly 200 outlets across the UK. Inflation to

Bosses of water companies responsible for illegal sewage spills are to face a ban on their substantial bonuses after years of campaigns and public outrage.   Environment Secretary Steve Barclay announced payouts would be blocked to chiefs who oversee the polluting of rivers, lakes, and seas – starting with bonuses in the financial year starting

NatWest Group is preparing to pay out about £350m in staff bonuses as the government draws up plans for a retail share offer that could drastically reduce the state’s remaining stake in the bailed-out lender. Sky News has learnt that NatWest is finalising proposals for the bonus pot ahead of annual results this week that

Adnams, one of the most historic names in British brewing, has drafted in City advisers to raise new funding amid a deluge of insolvencies across the sector. Sky News has learnt that Adnams is working with Alvarez & Marsal (A&M) on a range of options to shore up its finances. People close to the situation

The new owners of The Body Shop are lining up administrators for its British arm just weeks after taking control of the cosmetics retailer, in a move which could threaten significant numbers of shops and jobs. Sky News has learnt that the company founded by Anita Roddick and her husband Gordon nearly half a century

The Premier League is facing a fresh battle over changes to rules governing commercial deals between related parties after it was warned by a club that the proposals were unlawful. Sky News has learnt that the 20 top-flight clubs, which include Arsenal, Brentford, Chelsea and Manchester United, were notified on Thursday that one of them

Tesco has announced the sale of its banking arm to Barclays in a deal worth up to £1bn. The UK’s largest retailer, which had been in discussions with other major lenders including HSBC and Lloyds, said all 2,800 staff at Tesco Bank would transfer to Barclays under the agreement over time. Hundreds of other workers