Business

Rail passengers are set to suffer fresh travel disruption over the next few days due to more strikes in long-running disputes over pay, jobs and conditions. Train companies are warning that services will be “severely reduced” because of industrial action by drivers and other workers. Members of the drivers’ union Aslef will walk out on

Artificial intelligence poses a similar risk of human extinction as pandemics and nuclear war, experts have warned. The boss of the firm behind ChatGPT, the head of Google’s AI lab, and CEO of Anthropic – another major AI firm, have all signed an open letter. It reads: “Mitigating the risk of extinction from AI should

Asda Group has said it will acquire petrol station operator EG Group’s UK and Ireland business, creating a company with combined revenues of nearly £30bn. The news confirms a report by Sky News City editor Mark Kleinman last week, which said the “finishing touches” were being put on the deal. Asda is the UK’s third-largest

HSBC will next month unveil a new name for the technology-focused bank it rescued earlier this year after its US parent collapsed. Sky News has learned that Europe’s biggest lender intends to rebrand Silicon Valley Bank UK (SVBUK) under the name HSBC Innovation Banking. The new identity is expected to be announced to coincide with

The Ineos billionaire Sir Jim Ratcliffe remains the leading candidate to buy Manchester United Football Club despite an inconclusive board meeting held late last week. Sky News understands that directors of the Premier League club’s holding company met on Thursday to discuss the progress of its £5bn-plus auction. Controlled by members of the Glazer family

Plans to encourage supermarkets to introduce voluntary price caps on food staples in a bid to help with the cost of living crisis are being drawn up by Downing Street, according to reports. The scheme would aim to get retailers charging the lowest possible amount for some basic products like milk and bread, the Sunday Telegraph reported. A

The executive who presided over a bitter “cruises and cufflinks” row at one of Britain’s biggest wealth managers is preparing to step down. Sky News has learnt that St James’s Place, the FTSE-100 group which oversees more than £150bn of client assets, has kicked off a search to replace Andrew Croft. City sources said on

Ian King hears from Chancellor Jeremy Hunt, who says the government will do whatever it takes to bring down inflation, even if that means a recession. He also speaks to Nick Harding, the chief executive of consumer lender Fluro as analysis by PwC shows total household debt in the UK has exceeded 2 trillion pounds

The government finds its hands somewhat tied at present on measures it can take to boost economic growth. The parlous state of public finances – the government borrowed £25bn alone in April – means that neither meaningful tax cuts nor increases in public spending that lift productivity are feasible just now. So it is no

Britain’s largest building society has made some mortgages more expensive as the Bank of England’s interest rate is now expected to rise higher than previously thought. Nationwide has said interest rates on new fixed-rate mortgages will rise 0.45 percentage points. It follows moves by lenders such as Halifax, Santander and Atom Bank who also upped

Britain is determined to compete in the global race for green investment, the chancellor has told Sky News, days before the expected announcement that Jaguar Land Rover owner Tata will build a major new battery factory in the country. Jeremy Hunt said that he was prepared to deploy subsidy money from the government’s £1bn war

The owners of Asda and petrol stations giant EG Group were on Thursday applying the finishing touches to a £10bn merger of their operations in Britain. Sky News has learnt that the billionaire Issa brothers – Mohsin and Zuber, who launched EG Group – and TDR Capital are aiming to announce the tie-up on Friday.

Rishi Sunak has met leaders of the tech industry to discuss the “existential threats” artificial intelligence could pose. The prime minister met CEOs of OpenAI, Google DeepMind, and Anthropic today to share ideas about how to manage the technology as it grows in sophistication. Mr Sunak praised AI as “the defining technology of our time

Microsoft will on Wednesday lodge a formal appeal against British regulators’ decision to block its $75bn takeover of Activision Blizzard, the Call of Duty maker. Sky News understands that the technology behemoth will file its complaint with the Competition Appeal Tribunal (CAT) within hours, sparking the next phase of its fight to secure one of

Netflix has expanded its crackdown on password sharing, telling users worldwide their accounts cannot be shared for free outside their households. The streaming service has been looking for new revenue streams amid fears of market saturation, with efforts including limits on password borrowing and a new advert-supported option. On Tuesday, the company said it was

Britain is no longer expected to suffer a recession this year, nor will it have the weakest economic growth in the group of seven leading industrialised economies, the International Monetary Fund (IMF) said today. Unveiling a dramatic upgrade to its outlook for Britain, the Fund, which previously predicted Britain would face the worst 2023 of

A growing number of skilled workers from Africa and Asia are moving to Britain to plug crippling staff shortages, according to new figures that reveal the changing picture of migration. Businesses are making use of the new post-Brexit migration system to bring in IT professionals, nurses and accountants. Since January 2021, the new system has

The owner of WhatsApp, Instagram and Facebook has been slapped with a record fine of €1.2bn (£1.04bn) by the Irish data protection regulator. It’s the biggest fine ever levied for breach of the general data protection regulations (GDPR). Meta has incurred the fine for transferring EU citizens data to the United States for processing and

Meta is expected to face a record fine later over its transfer of Facebook’s European user data to US servers, according to reports. Reuters news agency cited two anonymous sources familiar with the matter as saying that the penalty from EU regulators will be higher than the previous record – a €746m (£647m) fine for

The government is to begin the hunt for a new boss of its flagship trade and cultural promotion campaign after the incumbent decided to step down after two years in charge. Sky News understands that Andy Pike OBE resigned as director of GREAT earlier this month, and will leave the post in September. Mr Pike