Business

Diesel drivers are being “ripped-off” at the pumps to the tune of around 16p per litre, according to a motoring group. The RAC, along with others, has long argued that British motorists and businesses are paying over the odds for the fuel – the engine behind the UK economy – fanning the flames of inflation

The UK financial watchdog will announce plans to change the rules on bringing companies into public ownership after a series of high profile businesses snubbed the London Stock Exchange. The Financial Conduct Authority (FCA) will on Wednesday publish proposed changes to rules on listing companies on the London Stock Exchange. It hopes to make regulation

Prezzo, the high street restaurant chain, is bracing for a court showdown with landlords over the closure of a third of its sites. Sky News has learnt that Prezzo will write to the owners of its 143-strong estate on Tuesday to notify them of the legal process through which it intends to shut unprofitable stores.

Food prices increased by a record high of 15.7% last month as pressure continues to mount on household finances. Fresh food prices saw a record jump of 17.8% year-on-year for April, while the price of ambient products, such as tinned goods and other store-cupboard items, went up 12.9%. The latest figures come as the average

Nearly half a million people in the workplace are aged over 70, according to new research. Compared to a decade ago, there has been a 61% increase in the number of over-70s working, with King Charles III – at the age of 74 – a prime example of the “post-state pension age” worker. Rest Less,

Vue International, the independent cinema giant, will this week name the former boss of Very, the online shopping group, to its board. Sky News understands that Henry Birch, who was also chief executive of casino operator Rank Group and William Hill Online, will join Vue as a non-executive director. Katrina Cliffe, a former American Express

The sportswear tycoon Dave Whelan is heading for a showdown with landlords over plans for an overhaul of his Fitness First gyms empire that would involve site closures and steep rent cuts. Sky News has learnt that Mr Whelan, best-known as the former owner of Wigan Athletic Football Club, is working with advisers on a

Manchester United could become the most expensive sports team in the world, after a Qatari businessman entered a record-breaking offer as the bidding window slammed closed. Sheikh Jassim bin Hamad, who chairs the Qatar Islamic Bank, submitted his final offer for the club on Friday, Sky News understands, with the figure offered thought to be

The fashion retailer Superdry is in advanced talks about a near-£15m share sale as it races to shore up its balance sheet amid tough trading conditions. Sky News has learnt that the chain, headed by founder Julian Dunkerton, could unveil a cash call as soon as next week after discussions with City investors. The move

For some time now, the City has been doing some soul-searching over its future. There was a lot of speculation around the time of Brexit that, deprived of the “passport” that enabled UK-based firms to do business in the EU without having permission from each individual country regulator, there would be heavy job losses in

The number of people taking “breathing space” from their debt problems has soared by more than a third year-on-year, official data shows. There were 23,179 registrations for the relief in the first three months of 2023, up 34% from the same period in 2022, according to Insolvency Service figures. Of this total, 22,770 were standard

The world’s largest economy slowed sharply in the first quarter of the year, according to the first official estimate which has raised fears of recession ahead. Growth was measured at an annualised rate of 1.1% between January and March, the Commerce Department said. Economists had been expecting a figure of 2%. The slump followed growth

Average rents for properties across Britain have hit a new record high, according to data from a property website showing a record £2,500 per month in London. Rightmove said the average rent being asked outside the capital topped £1,190 per month for the first time during the first three months of the year. It completed,

The new boss of business lobby group the CBI says she is confident it will win back the trust of ministers and members within six months, but will have to “completely change” to survive allegations of sexual misconduct and a toxic culture. Rain Newton-Smith started work as CBI director general this week with its future

The British competition watchdog has blocked Microsoft’s bid to buy video game maker Activision Blizzard. The Competition and Markets Authority (CMA) stopped the $68.7bn (£55bn) deal due to concerns that it would stifle competition in the cloud gaming market. In its final report on Wednesday, the CMA said that the move was “the only effective

The Bank of England’s chief economist has urged people to accept they are poorer, warning that inflation risks remaining stubbornly high. Huw Pill told a podcast that people and businesses have responded to higher bills and costs by asking for higher wages or charging their customers more money. His remarks echoed warnings from Bank governor

Shares in First Republic Bank have tumbled to a new record low after the troubled US regional lender admitted last month’s banking crisis sparked a customer deposit flight of more than $100bn (£806bn). The bank, which was saved from possible collapse by a $30bn cash injection agreed by major lenders, saw its stock drop by

Renee Elliott, the founder of Planet Organic, is returning to spearhead a rescue deal for the supermarket chain she launched in 1995. Sky News has learnt that Ms Elliott has agreed to lead a takeover of Planet Organic in a deal expected to be finalised on Tuesday. City sources said she had assembled backing from

Prime Minister Rishi Sunak has been challenged by the chairman of Burberry over the scrapping of VAT refunds for tourists. Gerry Murphy, who heads the luxury retailer, said that the “spectacular own goal” had made Britain the “least attractive” shopping destination in Europe. The conversation took place at a Business Connect conference, which saw around

A former chief executive of Asda has sealed a rescue deal for an online butcher which counts Fortnum & Mason and Harrods among its customers. Sky News understands that Andy Clarke, who left the supermarket giant in 2016, has agreed a transaction to buy Farmison & Co, which collapsed into administration earlier this month. Mr