Business

Support for energy bills from the government is expected to continue for three months from April, protecting consumers from an average increase of £500. Sky News understands the chancellor will cancel a reduction in support that would have seen typical annual bills rise from £2,500 to £3,000. In recent days, the government has asked energy

Energy suppliers have been asked to prepare for government support to households to be maintained at the current level in April, ahead of a final decision expected to be announced in the budget. Sky News understands the government has asked suppliers to prepare for two scenarios; the current effective cap of £2,500 for typical annual

FTSE 100 building materials firm CRH has recommended moving its primary stock market listing to New York, exacerbating worries about the London market’s standing as a global financial centre. The Ireland-based company confirmed its plans to investors on Thursday morning as it revealed full-year results that showed a 12% rise in sales to $32.7bn (£27.4bn).

WH Smith has said it has been the target of a cyber attack that has seen hackers access company data. The high street retailer added hackers have also been able to access current and former employee information. It said the hack has not impacted its trading activities and stressed its website, customer accounts and customer

Interest rates may rise less than previously thought with the governor of the Bank of England signalling there is no urgent need for hikes. The central bank has been consistently raising interest rates – making borrowing more expensive – in an effort to bring double-digit inflation down to the Bank’s 2% target. Further increases had

House prices have fallen for the sixth month in a row and dropped 1.1% in the year up to last month, according to one of the UK’s biggest mortgage lenders. House price data from Nationwide building society showed it was the first annual decline since June 2020. On a monthly basis, the price fall from

A further 2,000 pubs are at risk of closure, threatening 25,000 jobs, unless the chancellor comes to the sector’s aid in this month’s budget, according to an industry body. The British Beer and Pub Association (BBPA) cited research by Oxford Economics which forecast 288 million fewer pints would be sold in the next financial year

UK grocery inflation continued to climb during February to reach a new record high of 17.1%, according to closely-watched industry data. Kantar Worldpanel reported that the increase over the past 12 months meant that families faced a potential £811 annual rise in the cost of their regular shopping basket. It had been hoped that a

The government is set for a fiscal windfall of tens of billions of pounds thanks to stronger growth and lower energy prices, making the argument not to contribute to higher public sector pay all the more difficult to maintain, according to the Institute for Fiscal Studies (IFS). In an analysis released ahead of the 15

The energy regulator has reduced the cap on the amount energy companies can charge customers but bills are still expected to increase. Ofgem has today announced the cap on the amount typical households pay on electricity and gas bills will drop to £3,280 from 1 April. It’s a decrease from the previous cap of £4,279

The electric vehicles arm of Octopus Energy’s parent company is seeking a £100m funding boost to accelerate its growth amid soaring production of greener cars. Sky News has learnt that Octopus Electric Vehicles (OEV) is working with bankers on plans to raise new funding from external investors during the coming months. OEV is part of

Citymapper, the urban transport app which ranks among Britain’s most prominent consumer technology companies, is in talks to be bought by a multibillion dollar New York-based rival. Sky News has learnt that Citymapper, which launched in 2010, is in advanced discussions about a takeover by Via Transportation. City sources said a deal could be struck

Members of the Transport Salaried Staffs Association (TSSA) have voted to accept offers by train companies in the long-running dispute over pay, job security and conditions, the union has announced. “Given this result, TSSA will notify employers that the ballot for Industrial Action has also been withdrawn,” the union said in a statement. “Accepting the

As Ukrainians mark a year since Russia’s invasion, Ian is joined by Ukraine’s deputy economy minister, and the chief executive of the Ukrainian steelmaker Metinvest – owners of the Azovstal steel mill in Mariupol, which was besieged by Russian soldiers last May. He also speaks to the chief executive at Allbright and the chair of

A financial services giant backed by an Abu Dhabi state investment fund is the latest suitor to emerge as a contender to swoop on parts of the stricken London-listed company MJ Hudson. Sky News has learnt that Apex Group, which is based in Bermuda and has around 12,000 employees, plans to table an offer next

The UK’s biggest retailers will next week warn Rishi Sunak that the government’s waste strategy risks forcing prices up for consumers even as continued inflationary pressures exacerbate the cost-of-living crisis. Sky News has obtained the draft of a letter from the British Retail Consortium (BRC) – expected to be sent to the prime minister next

In the aftermath of Russia’s invasion of Ukraine, Western leaders heralded a sanctions regime that would cripple the country’s war machine. Joe Biden claimed Russia’s economy would be “cut in half”, while Boris Johnson spoke of squeezing it “piece by piece.” A year has passed, but that great promise has been slow to deliver. Please

British tomatoes will likely remain scarce until the end of April or even early May, the UK’s largest grower has warned. It comes after Tesco and Aldi became the latest supermarkets to place limits on some fruit and vegetables customers can buy due to supply shortages. The soaring cost of energy, and fertiliser also derived

Theft by employees has jumped by 19% amid warnings that the rising cost of living is triggering a wave of workplace crime, new data suggests. Almost 6,000 people were caught stealing from their employer in 2022 – up from 5,000 the year before. Incidents range from the petty pilfering of office supplies to theft of

British Steel has revealed it is to cut 260 jobs, almost 7% of its workforce, despite continuing government funding talks with its Chinese owners. It was announced that the losses would be felt at its Scunthorpe plant through the closure of its coking ovens – used to turn coal into the high-temperature product needed to