Business

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 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

The average house price continued to rise in March – but at a slower rate than the previous month, according to a closely-watched index. The Halifax House Price Index shows that average prices rose by 0.8% in March – following a 1.2% rise in February, with the typical UK property now costing £287,880. The annual

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

Talks aimed at resolving a long-running dispute between Royal Mail and the Communication Workers Union have ended without agreement. The two sides have been negotiating for 11 months over pay, jobs and conditions for the 112,000-strong workforce. There were 18 strike dates called last year and 2023 has seen the union and Royal Mail attempt

TikTok has been fined £12.7m for breaches of data protection law, including using the personal data of children aged under 13 without parental consent. The UK Information Commissioner’s Office said the Chinese-owned video app had not done enough to check that its users were over 13 and it had also not done enough to remove

Virgin Orbit has filed for Chapter 11 bankruptcy protection in the US after failing to secure the funding needed to recover from a January rocket failure. Virgin Orbit, which is 75% owned by Sir Richard Branson’s Virgin Group, lodged the filing in the US Bankruptcy Court for the District of Delaware seeking a sale of

The surprise production cuts announced by OPEC+ at the weekend appear to have been motivated by a number of factors. The most obvious is that OPEC+ is clearly unhappy with the price at which oil has been trading. Brent crude has been below $90 a barrel since mid-November and, during the last few weeks, has

Oil prices are up almost 5% after Saudi Arabia and other major producers vowed to cut production. Brent crude, the international oil benchmark, was up 4.85% early on Monday to $83.77 per barrel after it was announced that production would be cut by 1.15 million barrels per day from May until the end of the

The private equity backer of Café Rouge’s parent company has joined a host of suitors hoping to dine out on Princes Foods, the company behind some of Britain’s most popular tinned foods. Sky News understands that Epiris, which counts restaurant operator Big Table and the auctioneer Bonhams among its investments, is among the parties weighing

Sir Richard Branson’s cruise-line venture is seeking hundreds of millions of dollars in fresh funding even as the Virgin Group founder faces financial turbulence in other parts of his business empire. Sky News has learnt that Virgin Voyages is in the early stages of plans to raise a substantial sum of money from new and

Hundreds of thousands of small businesses could face “tough decisions” following changes to the energy support scheme, according to the Federation of Small Businesses. The Energy Bills Discount scheme has been introduced to provide UK businesses, charities and the public sector support with energy bills. This scheme for non-domestic energy users will see discounts provided

The British Beer and Pub Association is warning that the average energy bill for a pub will rise by £18,400 a year when the Energy Bill Relief Scheme ends. Landlords say this will put many pubs out of business. Warwick Heskins, 54, has been a publican for 23 years. In 2014 he took charge of

Revised figures have confirmed that the UK economy avoided recession in the second half of last year, posting 0.1% growth in the fourth quarter. The original estimate for gross domestic product (GDP) between October and November, released in mid-February, had shown zero growth. A recession is generally defined in the UK as two consecutive quarters