Business

Marks & Spencer (M&S) has secured a return to the FTSE 100 share index, four years after the bellwether retailer was relegated amid a battle for its very future. FTSE Russell, which manages the constituents of UK stock markets, carries out quarterly reviews based on the companies’ market values. In addition to M&S, it also

Job losses at Wilko could be announced on Thursday after an offer to buy the entire business reportedly failed to “pass basic checks”, according to a union representing workers. The GMB said it had been told redundancy plans at the discount homeware chain, which were said to have been suspended earlier this week, could be

Redundancies among Wilko’s 12,500-strong workforce have been suspended while further bids for the collapsed retailer are considered, a union has said. The GMB said it had been assured by administrators PwC about the move during a meeting on Tuesday morning. The discount homeware goods company collapsed earlier this month after struggling from inflationary pressures, competition

The housing secretary Michael Gove is planning a major change to rules on waterway pollution in a bid to boost home building in England. The so-called “nutrient neutrality” rules have been criticised by developers and some Tory MPs for blocking much-needed housebuilding. The government hopes the move, which is coming in an amendment to the

The expansion of Sadiq Khan’s controversial ultra low emissions zone (ULEZ) will come into force on Tuesday despite facing a number of political hurdles. The zone – which charges motorists £12.50 a day if their car does not comply with emissions standards – will cover every London borough and not just the city centre, as

A trio of former Deliveroo executives have secured investment for a new property search engine start-up backed by a Google artificial intelligence fund. Sky News understands that Jitty will announce this week that it has raised $2m from investors led by Gradient Ventures, an AI fund established by the global technology behemoth. Jitty, which will

“When the time comes, disconnect the main flex cable.” Besides being a short guy named Tom, I never felt I had any sort of Mission: Impossible credentials until I donned safety googles and got handed a screwdriver and plastic scalpel at what’s thought to be the UK’s biggest phone recycling factory. Fixing the screen on

The owner of HMV has approached a number of debt providers to back a last-gasp rescue bid for Wilko, the ailing high street retailer. Sky News understands that Doug Putman has sounded out firms including Gordon Brothers and Hilco – from which he bought HMV in 2018 – about helping to finance an offer for

The former owners of The Daily Telegraph have lined up hundreds of millions of pounds from Middle Eastern investors in a bid to wrest back control of the newspaper from Britain’s biggest high street bank. Sky News can exclusively reveal that the Barclay family lodged a proposal last week to buy back roughly £1bn of

Rail services across England will be crippled today because of another strike in the deadlocked dispute over pay, jobs and conditions. Around 20,000 members of the Rail, Maritime and Transport (RMT) union at 14 train operators are expected to join the walk out. Trains will start later on Saturday and finish earlier and some areas

Rail services across England will be crippled today because of another strike in the deadlocked dispute over pay, jobs and conditions. Around 20,000 members of the Rail, Maritime and Transport (RMT) union at 14 train operators are expected to join the walk out. Trains will start later on Saturday and finish earlier and some areas

It was one of the most lucrative changes of career in business history. In 1964, Fred DeLuca was a 17-year-old medical student working in a hardware store to help pay his way through college. Realising he was not earning enough for his needs, he asked a family friend, Peter Buck, whether he had any bright

A group of trading nations known as BRICS, which is hoping to rival the G7, is set to grow in size after inviting six new countries to join – including Iran and Saudi Arabia. BRICS – which has, until now, comprised of Brazil, Russia, India, China, and South Africa – announced the proposed expansion at

The US tech firm that dominates the market for chips used in artificial intelligence (AI) has delighted investors with a doubling in quarterly revenue, promising more of the same in future. Nvidia shares gained almost 10% in after-hours trading in New York on Wednesday night when it revealed a string of numbers that beat analysts’

Energy bills are to rise higher than last year for millions this winter, despite the energy price cap falling, a think tank has said. Withdrawn energy supports and a rise in the daily standing charge will mean winter bill costs going up for one in three English households, the Resolution Foundation said. That’s despite the

NatWest has said former boss Dame Alison Rose, who quit last month over her handling of Nigel Farage’s bank account closure, could receive a pay package worth more than £2.4m. Dame Alison resigned last month, abruptly ending her four-year tenure, amid government pressure on her position. It followed her admission that she had discussed the

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country’s biggest mortgage

The UK’s competition regulator has launched a fresh investigation into Microsoft’s proposed £55bn takeover of Call of Duty maker Activision Blizzard after the tech firm offered a new remedy in a bid to get the deal over the line. The Competition and Markets Authority (CMA) confirmed on Tuesday that it stood by its final decision

Shares in UK housebuilders have taken a fresh hit on the latest woes to hit the sector including a profit warning from a major player. Crest Nicholson shares plunged almost 15% at the start of Monday’s trading after it slashed adjusted pre-tax profit expectations for the year to October by more than 40% to £50m.

There are potential early signs that the labour market is losing some of its inflationary heat, in a shift that could give the Bank of England reason to pause its cycle of interest rate hikes. Data from a jobs search website suggested that vacancies and advertised starting salaries both fell in July – the first