The economy rebounded to grow by 0.3% in January, according to official figures which reaffirmed that the UK avoided recession at the end of last year. The Office for National Statistics (ONS) reported a recovery for output last month after the bigger than expected contraction of 0.5% witnessed in December, which went unrevised in the
Business
The government has announced the construction of sections of HS2 will be delayed by two years to save money. The high-speed railway was initially set to link London and the West Midlands with a further phase extending to cities in the North. However, Transport Secretary Mark Harper said on Thursday: “We have seen significant inflationary
The biggest producer of oil and gas in the North Sea has reported that the government’s energy profits levy (EPL) has “all but wiped out our profit for the year”. Harbour Energy said it had “reduced our UK investment and staffing levels” and bolstered its aim to expand elsewhere as a result of the hit
The Rail, Maritime and Transport Workers’ union (RMT) has said planned strike dates on 14 train operators will go ahead, but they insist they are open to discussions with bosses. The union said the Rail Delivery Group (RDG), representing 14 train operators, invited them to discussions to settle its ongoing dispute, but on the condition
BMW, the German car manufacturer, is applying the finishing touches to plans to invest hundreds of millions of pounds into its Oxford plant, securing future production of the iconic Mini in Britain. Sky News has learnt that BMW hopes to announce its decision later in the spring, with one industry insider saying on Wednesday that
The Rail, Maritime and Transport Workers’ union has suspended all industrial action against Network Rail following a new pay offer. Strike action was due to take place from 2am on 16 March until 01.59am on 17 March. A ban on accepting overtime – which can be disruptive for maintenance works – had been due to
The buyout firm which has struck major investments in football, rugby and motor racing is to unveil a stake in the body behind women’s professional tennis, paving the way for a shake-up of the sport’s commercial activities. Sky News has learnt that the Women’s Tennis Association (WTA) will confirm as early as Tuesday the sale
Britain’s power system operator has triggered contingency plans in case supplies can’t keep up with demand in the current cold snap. National Grid ESO issued a so-called electricity margin notice (EMN) overnight and later ordered four out of five coal-fired plants, kept in reserve, to warm up in case they were needed. It said of
The head of the manufacturing sector’s lobby group has demanded a “reset” in the UK’s relationship with the European Union, claiming international suppliers have increasingly turned their backs on the country. Stephen Phipson, chief executive of Make UK, told the organisation’s annual conference that political turmoil in the UK had exacerbated supply chain strains caused
Greggs, the bakery chain, says it expects to open 150 net new stores this year despite persistent headwinds from pay rises and energy costs. The company, best known for its sausage rolls and steak bakes, said that it expected challenges from high inflation to remain throughout 2023 while revealing upbeat sales figures for its last
When Amish Patel followed his father into the pharmacy business, he hoped it would be a job for life. But with the cost of everything from medicines to energy rising, it has become increasingly difficult to pay the bills. “In 2020 my pharmacy made the first ever loss in its business profits, which for a
The director general of the Confederation of British Industry (CBI) Tony Danker has stepped aside from the role while the business lobby group investigates allegations relating to his workplace conduct. The body said he had requested to leave the role while a number of allegations were examined. Mr Danker responded to the claims in a
One in seven people (15%) have skipped meals amid the rising cost of living – up from one in eight (12%) three months ago, according to a consumer champion. The latest findings from Which?’s Consumer Insight tracker have found an alarming number of households are going without food and sitting in cold homes as rising
Energy suppliers have been asked to prepare for government support to households to be maintained at the current level in April, ahead of a final decision expected to be announced in the budget. Sky News understands the government has asked suppliers to prepare for two scenarios; the current effective cap of £2,500 for typical annual
FTSE 100 building materials firm CRH has recommended moving its primary stock market listing to New York, exacerbating worries about the London market’s standing as a global financial centre. The Ireland-based company confirmed its plans to investors on Thursday morning as it revealed full-year results that showed a 12% rise in sales to $32.7bn (£27.4bn).
WH Smith has said it has been the target of a cyber attack that has seen hackers access company data. The high street retailer added hackers have also been able to access current and former employee information. It said the hack has not impacted its trading activities and stressed its website, customer accounts and customer
Interest rates may rise less than previously thought with the governor of the Bank of England signalling there is no urgent need for hikes. The central bank has been consistently raising interest rates – making borrowing more expensive – in an effort to bring double-digit inflation down to the Bank’s 2% target. Further increases had
House prices have fallen for the sixth month in a row and dropped 1.1% in the year up to last month, according to one of the UK’s biggest mortgage lenders. House price data from Nationwide building society showed it was the first annual decline since June 2020. On a monthly basis, the price fall from
The job offer couldn’t have come at a better time for Theo. He had been job hunting for a year, picking up part-time hours in events. He was homeless, crashing on friends’ couches. “I took the first opportunity that came to me because I was like, I just need to get out of this situation,”
Supermarket giant Sainsbury’s has said it plans to close two Argos depots in a move that will impact 1,400 jobs. It is expected to take place over the next three years as part of a wider shake-up of its general merchandise operations across the group that would see its major warehouses cut from five to
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