Business

The UK’s private sector has shrunk for the eighth consecutive quarter. That is according to data from the Confederation for British Industry, which said its latest snapshot of the sector showed “signs of green shoots” – with projections that UK industry will return to growth in the next quarter. The organisation’s lead economist, Alpesh Paleja,

The union representing Royal Mail’s frontline staff is on the verge on announcing new strike dates, Sky News understands, should a final push to end their long-running dispute fail. A Communication Workers Union (CWU) source said talks at the conciliation service Acas were scheduled for Thursday but fresh walkouts could be called the following day

Adidas has withdrawn its opposition to a three-line Black Lives Matter (BLM) trademark. The German sports design giant had asked the US Trademark Office to reject a trademark application by Black Lives Matter, which featured three parallel lines, just two days before the U-turn. “Adidas will withdraw its opposition to the Black Lives Matter Global

How worried should we be about the banks? It’s a question that’s been hanging over the financial system since the collapse in the space of a fortnight of three moderate American banks, including Silicon Valley Bank (SVB), followed by Swiss behemoth Credit Suisse. The spectacle of regulators, political leaders and bankers spending sleepless weekends managing

The Bank of England governor has told MPs the regulator is currently in a period of “very heightened tension and alertness”. However, speaking to the Treasury Committee on Tuesday, Andrew Bailey said the country is not in a period comparable to the financial crash of 2018 – but that vigilance is needed. He said: “I

Next is in advanced talks to buy Cath Kidston in its latest swoop on a prominent but troubled retail brand. Sky News has learnt that the FTSE-100 chain, which has a market value of close to £8.7bn, could wrap up a deal to acquire the modern vintage label as soon as Tuesday. Banking sources said

More than 94,000 prepayment meters were installed in homes in Britain throughout 2022, government figures show. The meters were installed by energy providers such as British Gas, Scottish Power and OVO Energy using court-sought warrants and without customer consent. Those three providers were behind 70% of installations, the government said, and fitted 66,187 devices under

A loyalty app which counts Barclays and Lloyds Banking Group among its shareholders has secured a £9m funding lifeline. Sky News understands that existing investors in Loyalty Angels, which trades as Bink, have agreed to provide £7.5m in new capital. They have also indicated that they will agree to underwrite a further £1.5m of investment,

Manchester United received a fresh Qatari bid overnight – as the battle to purchase the Premier League giants intensifies. Sheikh Jassim bin Hamad Al Thani made the offer after asking for a deadline extension on Wednesday. He joins Sir Jim Ratcliffe’s INEOS, who made his own second formal bid for the club, and comes after

The renowned activist investor Elliott Management is plotting a takeover of large chunks of Cineworld, the stricken London-listed cinema operator. Sky News has learnt that Elliott is interested in acquiring Cineworld’s operations in eastern Europe and Israel. While Elliott is also understood to have explored a bid for the whole of the ailing group, its

The company behind a group of well-known outdoor sports clothing brands is racing to find a buyer months after the collapse of a deal to reverse it into a London-listed cash shell. Sky News has learnt that FRP Advisory, the professional services firm, has been drafted in to find a buyer for Internet Fusion Group

Britain’s competition watchdog has provisionally dropped concerns that Microsoft’s proposed takeover of Activision Blizzard would damage the UK console gaming market. The Competition and Markets Authority (CMA) last month warned the £56.7bn deal could result in higher prices, fewer choices or less innovation for UK gamers. However, it said its latest findings have now indicated

It is another “risk off” day in the jargon for stock markets in Europe. Banking stocks, in particular, are falling out of bed. Shares of Deutsche Bank and Commerzbank, Germany’s two largest lenders, have fallen at their worst by 13% and 8% respectively while BNP Paribas and Societe Generale, the first and third-largest banks in

Millions of mobile phone and internet users are facing a price increase of 17.3% on their bills in just a week’s time. Every April, many broadband and mobile firms raise their prices in line with the Consumer Price Index (CPI) plus an additional 3-3.9%. As these price rises are often applied mid-contract, people either have

There was some unexpected good news buried in the documents released by the Bank of England alongside its interest rate decision today. Only a month ago the Bank had expected that the UK would face a technical recession this year with the economy shrinking in the first and second quarters of the year (a formal

Striking Amazon workers have vowed to step up industrial action following an “insulting” new pay rise. It comes after Amazon announced on Wednesday that it will increase the minimum starting salary of its UK workforce by at least 50p to between £11 and £12 per hour from April. The company said the exact amount will

Delivery giant Just Eat has announced it is to axe 1,700 jobs as it ceases to employ its delivery riders and drivers. The service said it will use entirely gig economy workers to deliver food in the UK, as opposed to the hybrid system of employees and self-employed workers. Delivery staff have been given six

Tesco is cutting the value of its Clubcard rewards scheme, with customers no longer able to get triple their value when they cash them in with scheme partners.  The Tesco Clubcard reward partner scheme lets customers collect points while shopping and exchange them for vouchers for theme parks, restaurants and day trips. Points used to

The rate of inflation has taken a surprise leap, driven by a rising cost of alcoholic drinks in pubs and food – partly a consequence of the recent salad shortage. The Office for National Statistics (ONS) calculated the consumer prices index (CPI) measure of inflation at 10.4% over the 12 months to February. That was

As many as eight bids could be made for Manchester United before Wednesday’s deadline for second offers, it is understood. The Glazer family will definitely sell the club, but only for the right price – with £6bn believed to be their valuation. If their asking price is not met, the owners will raise capital to