Business

UK grocery inflation continued to climb during February to reach a new record high of 17.1%, according to closely-watched industry data. Kantar Worldpanel reported that the increase over the past 12 months meant that families faced a potential £811 annual rise in the cost of their regular shopping basket. It had been hoped that a

Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen have agreed a new post-Brexit deal for Northern Ireland, calling it the Windsor Framework. lt is designed to tackle the issues impacting Northern Ireland since the UK left the EU – and the so-called Northern Ireland Protocol came into force. But what does

The energy regulator has reduced the cap on the amount energy companies can charge customers but bills are still expected to increase. Ofgem has today announced the cap on the amount typical households pay on electricity and gas bills will drop to £3,280 from 1 April. It’s a decrease from the previous cap of £4,279

The electric vehicles arm of Octopus Energy’s parent company is seeking a £100m funding boost to accelerate its growth amid soaring production of greener cars. Sky News has learnt that Octopus Electric Vehicles (OEV) is working with bankers on plans to raise new funding from external investors during the coming months. OEV is part of

Citymapper, the urban transport app which ranks among Britain’s most prominent consumer technology companies, is in talks to be bought by a multibillion dollar New York-based rival. Sky News has learnt that Citymapper, which launched in 2010, is in advanced discussions about a takeover by Via Transportation. City sources said a deal could be struck

Members of the Transport Salaried Staffs Association (TSSA) have voted to accept offers by train companies in the long-running dispute over pay, job security and conditions, the union has announced. “Given this result, TSSA will notify employers that the ballot for Industrial Action has also been withdrawn,” the union said in a statement. “Accepting the

As Ukrainians mark a year since Russia’s invasion, Ian is joined by Ukraine’s deputy economy minister, and the chief executive of the Ukrainian steelmaker Metinvest – owners of the Azovstal steel mill in Mariupol, which was besieged by Russian soldiers last May. He also speaks to the chief executive at Allbright and the chair of

A financial services giant backed by an Abu Dhabi state investment fund is the latest suitor to emerge as a contender to swoop on parts of the stricken London-listed company MJ Hudson. Sky News has learnt that Apex Group, which is based in Bermuda and has around 12,000 employees, plans to table an offer next

The UK’s biggest retailers will next week warn Rishi Sunak that the government’s waste strategy risks forcing prices up for consumers even as continued inflationary pressures exacerbate the cost-of-living crisis. Sky News has obtained the draft of a letter from the British Retail Consortium (BRC) – expected to be sent to the prime minister next

In the aftermath of Russia’s invasion of Ukraine, Western leaders heralded a sanctions regime that would cripple the country’s war machine. Joe Biden claimed Russia’s economy would be “cut in half”, while Boris Johnson spoke of squeezing it “piece by piece.” A year has passed, but that great promise has been slow to deliver. Please

British tomatoes will likely remain scarce until the end of April or even early May, the UK’s largest grower has warned. It comes after Tesco and Aldi became the latest supermarkets to place limits on some fruit and vegetables customers can buy due to supply shortages. The soaring cost of energy, and fertiliser also derived

Theft by employees has jumped by 19% amid warnings that the rising cost of living is triggering a wave of workplace crime, new data suggests. Almost 6,000 people were caught stealing from their employer in 2022 – up from 5,000 the year before. Incidents range from the petty pilfering of office supplies to theft of

British Steel has revealed it is to cut 260 jobs, almost 7% of its workforce, despite continuing government funding talks with its Chinese owners. It was announced that the losses would be felt at its Scunthorpe plant through the closure of its coking ovens – used to turn coal into the high-temperature product needed to

Government officials will this week fly to China in an effort to convince the owner of British Steel to finalise plans for a state funding package amid hundreds of job cuts at the company. Sky News has learnt that civil servants from the Department for Business and Trade are travelling to meet executives from Jingye

Public borrowing in the financial year to date is £30.6bn less than predicted by the Office for Budget Responsibility (OBR), according to the last set of official figures before next month’s budget. The Office for National Statistics (ONS) reported a £5.4bn surplus for the chancellor in January – aided by the highest January figure for

The global payment giants Mastercard and Visa are facing the latest in a string of multibillion-pound competition lawsuits with the launch of a potentially vast class action claim on behalf of British companies. Sky News has learnt that Harcus Parker, a London-based commercial litigation law firm, is close to filing what it believes will be

Planet Organic, the organic supermarket chain, has drafted in City advisers to explore a possible sale. Sky News has learnt that Planet Organic, which was founded in 1995 by Renee Elliot, is working with Interpath on a review of its strategic options. A source close to the process said this weekend that the company was

Railway engineering workers are set to take part in a series of 48-hour strikes next month due to a pay dispute. The action comes after the workers at infrastructure group Balfour Beatty overwhelmingly rejected the company’s offer of a 5.5% increase in pay. Members of the Rail, Maritime and Transport (RMT) union will take strike

Tesco, Britain’s biggest supermarket chain, is to kick off a review of its presence in the UK banking sector – a move that could lead to a sale of the business. Sky News has learnt that the grocery giant is lining up Goldman Sachs to advise on the future of Tesco Bank, which launched in

Charging customers higher electricity prices has helped the UK wing of the French state-owned energy giant turn a profit. While an overall loss was recorded at EDF (Électricité de France) earnings rose at its UK operations, it said in its 2022 annual results. Core profits in the UK electricity-producing entity hit £1.12bn, up from a