Business

The chief executive of P&O Ferries will face questions from MPs later after the controversial sacking of nearly 800 workers last week. Peter Hebblethwaite will appear before a joint hearing of the transport and business committees and is expected to be questioned about the legality of the dismissals. Mr Hebblethwaite has apologised for the impact

Budgets – and let’s make no bones about it, today’s Spring Statement was significant enough to qualify as a budget – tend to follow a time-honoured pattern. The chancellor unveils his measures, makes a big noise about them in the House of Commons, and then – sometimes over a few hours, sometimes over a few

Rishi Sunak is expected to pledge to “stand by” hardworking families and set out further plans to support people with the rising cost of living when he unveils his spring statement on Wednesday. It is understood the chancellor will unveil proposals intended to build “a stronger, more secure economy” as people across the UK face

One of these days, Rishi Sunak will produce a fiscal statement which lays out his vision for the nation. We will hear about his plans for skills, for productivity, dynamic enterprise and entrepreneurship. But this is not going to be one of those days. Ever since he took office, the chancellor has had to confront

Average fuel prices have dropped for the first time this month, according to the RAC. The average cost of a litre of petrol at UK forecourts on Monday was 166.6p, down from 167.0p on Sunday, according to figures from data firm Experian Catalist. The average cost of a litre of diesel fell from 179.0p to

800 P&O Ferries workers fired suddenly last week are only being given redundancy pay on the condition they sign Non-Disclosure Agreements (NDAs), according to the Transport Secretary. Grant Shapps told the House of Commons that the company is using the agreements to try and “keep the employees quiet” while behaving in a “shameful and unacceptable

The Indian-born businessman who owns the Sacramento Kings basketball team has joined forces with the former British Airways chairman Sir Martin Broughton in his effort to buy Chelsea Football Club. Sky News has learnt that Vivek Ranadive, who made a fortune from the technology industry, has agreed to make a minority investment in the Premier

Rishi Sunak is pledging a £5.5bn crackdown on Whitehall waste as he faces pressure to tackle the cost of living crisis in his mini-budget. Ahead of his spring statement on Wednesday, the chancellor claims the efficiency savings will both curb inflation and fund vital public services. “During these challenging times it’s vital that every single

One of the largest shareholders in Pendragon has been thwarted in a £400m takeover raid on the London-listed car dealership giant. Sky News can reveal that Hedin Group, which operates more than 200 vehicle showrooms in Belgium, Norway, Sweden and Switzerland through its subsidiary Hedin Bil, tabled a secret 28p-a-share offer for Pendragon several weeks

The 9pm deadline for bids to buy Chelsea has passed, with consortiums led by Nick Candy, the Ricketts family and Sir Martin Broughton and Lord Sebastian Coe among the bidders. The sale has come amid UK and EU sanctions on Roman Abramovich following Russia’s invasion of Ukraine, with Chelsea also under a number of restrictions.

The London property entrepreneur Nick Candy is lining up backing from two South Korean groups as he prepares to lodge a takeover bid for Chelsea Football Club. Sky News has learnt that Hana Financial Group, a major Seoul-based lender, and C&P Sports, a sports management firm, were on Friday in discussions about joining Mr Candy’s

Two and a half million households with children will be in fuel poverty once the new energy price cap comes into effect on 1 April, according to estimates from the End Fuel Poverty Coalition. That’s equivalent to two in five households, and it rises to more than half if we look just at single-parent homes.

All remaining COVID travel measures, including the Passenger Locator Form and tests for unvaccinated arrivals, have now ended in the UK. A range of “contingency measures” will be kept in reserve so ministers can take “swift and proportionate action” if needed to tackle new variants, according to the Department for Transport. It is understood that

The Bank of England has hiked the interest rate by 0.25% to 0.75% as it forecast inflation surging to 8% next month – and even higher in the autumn. It is the third increase in a row in as many policy meetings by the bank’s rate-setters and restores the cost of borrowing to pre-pandemic levels.

Ocado said it has “moved certain retail prices” to reflect soaring costs faced by the grocery industry across the UK and warned that the scale of food inflation this year is “difficult to predict”. The online delivery specialist said there had been “significant” rises in the costs of raw materials and products as well as

The US central bank has fired the starting pistol on interest rate rises as the world’s largest economy faces up to a surge in inflation that is only predicted to accelerate during Russia’s war in Ukraine. The Federal Reserve raised its benchmark rate, for the first time since 2018, by a quarter point to a

Five companies that deliberately targeted the elderly with “predatory” and “coercive” marketing calls in order to sell them unnecessary insurance have been fined more than £400,000 by the UK’s privacy watchdog. The Information Commissioner’s Office (ICO) said the businesses had been purchasing marketing data lists of people who were aged 60 and over, were homeowners,

The UK government has placed an export ban on luxury goods to Russia and hiked up import tariffs from the country on iconic products such as vodka. British vehicles, high-end fashion and art are some of the luxury goods that will no longer be exported to Russia as the UK and other G7 leaders continue

Camelot is set to lose its licence to run the National Lottery after three decades after rival Allwyn was named preferred bidder to take over from 2024. The Gambling Commission, which made the selection, said Allwyn’s investment commitments would mean “growth and innovation” for the lottery resulting in increased contributions to good causes. Camelot has

The majority of people in Britain don’t think UK’s sanctions imposed on Russia for its invasion of Ukraine go far enough and most would support doing more even if it meant an increase in the cost of living. In an exclusive poll conducted by YouGov for Sky News, 57% of adults said they didn’t think