Business

A leading construction industry body has warned the prime minister that measures unveiled in the budget will “fatally undermine” family-run companies in the sector, adding to the business backlash facing the government since the end of October. In a letter to Sir Keir Starmer seen by Sky News, Steve Mulholland, chief executive of the Construction

Japanese car giants, Honda and Nissan, have announced plans to merge. That would make them the third largest car maker by sales. The two companies said they had signed a memorandum of understanding, which would also include the smaller Nissan Alliance member, Mitsubishi Motors, in the talks on integration. Japan’s car makers have struggled to

The UK economy showed no growth in the last quarter, according to the revised figures from the Office for National Statistics (ONS). The previous estimate for July and September said the economy grew by 0.1%. Early estimates show that real GDP per head fell by 0.2% in the third quarter of 2024, and is 0.2%

An electric cargo bike logistics company which counts the fashion giant Zara among its partners has launched an urgent hunt for new backers. Sky News has learnt that Zedify, which has raised millions of pounds from investors including Barclays Sustainable Impact Capital, is working with Interpath Advisory on a review of its financing options. Zedify

Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learnt that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor on the January trip.

Retail giants including Asda, Marks & Spencer, Primark and Tesco will mount a new year campaign to warn Rachel Reeves that plans to hike business rates on larger shops will put jobs and stores under threat. Sky News has learnt that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and Kingfisher-owned

Tesla has recalled almost 700,000 of its electric vehicles because of an issue with the warning light on the tyre pressure monitoring system. Its warning light may not remain illuminated between drive cycles, failing to warn the driver of low tyre pressure and increasing the risk of a crash, the manufacturer said. The issue affects

Many months before farmers found themselves on the front pages of newspapers, after protesting in Whitehall against the new government’s inheritance tax rules, we at Sky News embarked upon a project. Most of our reports are relatively short affairs, recorded and edited for the evening news. We capture snapshots of life in households, businesses and

The cost of living crisis has “boosted” the secondhand industry, Sky News has been told, as more than £2bn is spent on pre-loved gifts this Christmas. Adam Jay, CEO of Vinted Marketplace, said the “trend” in buying pre-loved was “happening anyway” but described rising costs elsewhere as a possible “accelerator”. “I’m sure the cost of

The rugged mountains, limestone caves and spectacular waterfalls of Bannau Brycheiniog – the Brecon Beacons – attract visitors from all over the world. Tourism is a vital part of the local economy. But local attractions say the industry would be devastated by the Welsh government’s plans for a nightly visitor tax. “In an area like

The UK’s retail sales recovery was smaller than expected in the key Christmas shopping month of November, official figures show. Retail sales rose just 0.2% last month despite discounting events in the run-up to Black Friday. It followed a 0.7% fall seen in October, according to data from the Office for National Statistics (ONS). Sales

Dating apps changed single life forever when they brought swiping, liking and ghosting to the masses. Now, nearly two million people in the UK use online dating services to find love, according to Statista. But in the 12 years since Tinder revolutionised romance, many people say they fell out of love with the process. “Most

Very few will be surprised by the Bank of England’s decision to keep rates on hold at 4.75%. What is more striking is the policy rift that has emerged. Three members of the rate-setting committee voted to cut rates while the other six opted to keep them as they are. It reflects some of the

The Bank of England has maintained its guidance for “gradual” interest rate cuts next year, following surprise support for a reduction this month. Its rate-setting committee, while deciding to keep Bank rate on hold at 4.75%, noted higher than expected wage rises and inflation despite a slowdown in the economy over the second half of

What a year 2024 was. A massive election – well, two massive elections on either side of the Atlantic, and more elsewhere around the planet – followed by changes of government and plenty of economic milestones along the way. So let’s remind ourselves of some of the big moments of the year, in chart form.

The US central bank has announced an interest rate cut, just hours before the Bank of England is tipped to refrain from following suit. The Federal Reserve cut its main funding rate by a quarter point to a new target range of 4.25%-4.5%, as markets had expected, but signalled that future reductions would happen more

English rent prices have reached another record high, growing by close to 10% in the past year, official figures show. The typical private rental price in England rose 9.3% in the year up to November, costing £116 more than 12 months earlier, according to the Office for National Statistics (ONS). English renters paid an average

Inflation has risen for the second month in a row, according to official figures. The overall rate of price rises – as measured by the consumer price index (CPI) – grew by 2.6% in November. It’s a further move away from the Bank of England‘s target 2% inflation rate after the rate ticked up to

Sir Keir Starmer has defended a decision not to compensate women affected by changes to their retirement age – saying doing so would “burden” the taxpayer. The prime minister said he understood the concerns of the Women Against State Pension Inequality – often known as Waspi women – but their demands were not affordable. He

Thames Water is seeking High Court approval today for a £3bn emergency loan to keep the troubled utility afloat, in a crucial 48-hours for the company and the industry. At a hearing at the Royal Courts of Justice before Mr Justice Trower on Tuesday, Thames will present the loan as the first stage of a