Business

More energy suppliers could go bust this winter potentially taking government payments intended for customers with them, the chief executive of British Gas owner Centrica has warned. Chris O’Shea told Sky News that the UK energy market, regulated by Ofgem, offers “wealthy individuals” behind some retail suppliers a “free bet” to speculate, with other bill

It was as long ago as 1982, back in the pre-privatisation days of the Central Electricity Generating Board, that the idea of building a new nuclear power plant in Suffolk – Sizewell C – was first mooted. At that time, construction had yet to begin on the neighbouring Sizewell B, which for now remains the

New Twitter owner Elon Musk has hit out at Apple – claiming it has threatened to block his social network from its app store without explanation. The world’s richest man, who took the company private last month for $44bn (£36.7bn), also said the iPhone maker has “mostly stopped advertising” on his platform. Musk wrote in

An aircraft engine has successfully been powered with hydrogen fuel in what is thought to be a world first, Rolls-Royce has said, in an attempt to reduce the enormous carbon footprint of flying. The aerospace manufacturer and partner easyJet, the low-cost airline, say the ground test marks a “major step” towards proving that hydrogen could

The owners of Manchester United have “taken the money” out of the club rather than investing in Old Trafford, a former director has told Sky News. In a wide-ranging interview with Sophy Ridge on Sunday, Greg Dyke also said all United fans will be “pleased to see the back” of the Glazers who are considering

Qatar is reviewing its investments in London after the organisation running the capital’s transport system banned the Middle East country’s advertisements on the Tube, buses and taxis. A source with knowledge of the review has told Sky News the decision by Transport for London (TfL) is “another blatant example of double standards and virtue signalling

The England and Wales Cricket Board (ECB) has received a £400m private equity approach that would see it relinquish majority ownership of The Hundred while raising funds to inject into the sport’s cash-strapped counties. Sky News has learnt that the governing body has in recent weeks been handed an offer from Bridgepoint Group, the London-listed

An extra £118m, at least, will be spent this year on temporary accommodation, such as hotels and B&Bs, by councils, a Sky News investigation has found. If trends continue, local authorities in England will spend nearly a quarter more (24%) this financial year than pre-COVID-19. Outside London, expenditure is on track to increase by 55%.

Primark has announced a £140m investment leading to the opening of four new shops and the creation of at least 850 jobs. The retailer said it plans to make the investment over the next two years in its UK operations. As part of that investment, the company said “at least” four news shops will be

The gas and electricity watchdog has announced a series of new rules for energy companies, including requiring firms to hold more capital, similar to the regulations placed on the banks in the wake of the financial crisis. Ofgem has proposed the regulations to protect customers and make firms more resilient after a number of electricity

UK car production has returned to growth, although it is still well below pre-pandemic levels, the Society of Motor Manufacturers and Traders says. Some 69,524 cars were built in October, up 7.4% on the same month a year ago. September had seen a fall in numbers, after four consecutive months of growth, illustrating how supply

A pound could buy $1.21 on Thursday morning, the highest amount since mid-August, making imports cheaper for UK companies and consumers. The 20 cents rise in sterling buying power from an all-time low in the days following the September mini-budget and the associated market upset, is due to dollar weakness rather than pound strength. The

Private parking firms are issuing 50% more fines this year with an average of nearly 30,000 per day being dished out, analysis suggests. A record 2.7 million were issued between April and June, up from 1.8 million during the same period last year. The figures come from analysis of Driver and Vehicle Licensing Agency (DVLA)

Pay growth has only kept up with inflation in one industry, official figures show. According to data from the Office of National Statistics (ONS), regular wages – wages excluding bonuses – have only risen as fast as prices in the professional and scientific industry. Jobs in the sector include legal services, management, engineering and scientific

Manchester United’s American owners have confirmed they could sell the club as they explore “strategic alternatives” to boost its sporting and commercial success. It comes after Sky’s City editor Mark Kleinman exclusively revealed the Glazer family were preparing to announce the news and were already being advised by bankers. Fans of Manchester United have long

A fresh round of rail strikes in the run-up to Christmas and in the New Year have been announced. Workers are to stage a series of 48-hour strikes in December and January in the long-running dispute over pay, jobs and conditions, the Rail, Maritime and Transport Workers (RMT) union said. Over 40,000 members across Network

Shell will review £25bn of investments in British projects after the chancellor extended the windfall tax on energy companies, its UK chairman has told Sky News. David Bunch said the oil giant would re-examine each of its projects on a “case-by-case basis” after Jeremy Hunt increased the levy on “excess” oil and gas profits from

With soaring inflation, a nascent recession and the fallout from eight weeks of perilous political and economic instability there were no shortage of issues facing Rishi Sunak as he made the annual Prime Minister’s address to the CBI conference. Yet the one confronting the PM as he travelled to Birmingham is the same that faced

Immigration should be used to solve worker shortages in the UK and the government must be “practical” on the issue, the head of the CBI is expected to say. Tony Danker, director general of the Confederation of British Industry, will urge politicians to allow migrant workers to take up hard-to-fill jobs. Speaking later at the

A challenger bank specialising in green finance has poached its new finance chief from a rival as it seeks to accelerate its growth in a challenging economic environment. Sky News understands that David McCarthy, who resigned after eight years as chief financial officer of Atom in September, is joining Tandem Bank in the same role.