Business

The pace at which prices are rising has sped up, according to official figures. The rate of inflation grew to 2.2% in July, up from 2% a month earlier, data from the Office for National Statistics showed. It is the first time since December last year that the rate has increased, rather than fallen. But

Online adverts for nutrition brands Huel and Zoe featuring Dragons’ Den star Steven Bartlett have been banned after they failed to disclose his involvement in the firms. The sponsored posts on Facebook, which appeared on users’ newsfeeds in February and March, included quotes from the celebrity entrepreneur praising the companies’ products. The Zoe advert featured

While attention has inevitably been on the first rise in grocery price inflation since March last year, the latest till roll data from Kantar Worldpanel also contains valuable insights into the grocery market itself. The figures highlight in particular the continued success of the biggest two players in the market, Tesco and Sainsbury’s, in terms

By now, you are probably aware that at 3.30pm the new chancellor will tell MPs of an approximately £20bn black hole in the public finances, necessitating immediate painful spending cuts today and paving the way for tax increases in an October budget. Rachel Reeves and her team will then challenge the Tories over who knew

Eddie Jordan, the former Formula One team-owner, has launched a multimillion pound legal fight against HSBC over its alleged mis-selling of a complex bond in which he invested. Sky News has learnt that Mr Jordan, who became one of Grand Prix motor racing’s most flamboyant and successful figures during a stint at the helm of

Cineworld has confirmed six cinemas will close as part of plans to cut jobs and save money, as the company struggles with debt. The cinemas will shut in “late September 2024” if the cost-cutting plans get legal approval. They are: • Glasgow Parkhead; • Bedford; • Hinckley; • Loughborough; • Yate; • Swindon – Regent

A London-listed building products company which was bailed out by investors during the pandemic is weighing a further cash call in the wake of a stinging profit warning. Sky News has learnt that SIG, which has a market value of just over £300m, is considering raising up to nearly half that amount through an equity-raise

Chancellor Rachel Reeves has promised to “fix” the “mess” the Conservative government left in the economy, amid reports of a £20bn “black hole” in the public finances. Ms Reeves, who is currently on a visit to the G20 in Brazil, told broadcasters she aimed to tell the world that the UK “is open for business”

NatWest has an increasingly confident air about it. The biggest lender to small and medium-sized businesses in the UK today posted another set of results that were better than expected – and raised its profit forecasts for the year. It also announced an eye-catching acquisition – agreeing to pay up to £2.4bn in cash for

The founder of TalkTalk has pledged a £400m package to the company’s lenders in a bid to win their support for a wide-ranging refinancing. Sky News has learnt that the broadband provider proposed this week that a number of assets including the Virtual1 wholesaler of high bandwidth services it bought in 2022 would be pledged

Competition among fuel retailers is “failing consumers” because drivers are still paying too much to fill up, according to regulators. In an update on its monitoring of the fuel market, the Competition and Markets Authority (CMA) said the cost to all motorists from the previously identified increase in retail fuel margins since 2019 was over

The private equity giant Apollo Global Management is on the brink of a deal to buy Evri, the British parcel delivery company, in a £2.7bn deal. Sky News has learnt that Apollo has seen off competition to acquire the company from rivals including JD.com, the Chinese internet group, and DHL. The deal could be announced

The FTSE-100 owner of British Gas, the UK’s biggest domestic energy supplier, is in talks to recruit its next chairman. Sky News has learnt that Centrica, which has a market value of about £7.3bn, is working with headhunters to identify a successor to Scott Wheway. City sources said that Lygon Group, the search firm, was

Billionaire Elon Musk has donated to a political group working to elect presidential candidate Donald Trump, according to reports. According to Bloomberg, citing sources, the amount was not known but it was “a sizable amount” given to a group called America PAC. Bloomberg reported that the PAC – a group that can receive unlimited contributions

One of the UK’s biggest floorings retailers is just one step away from a collapse that would place 1,852 jobs at risk. Cash-strapped Carpetright confirmed it had filed a notice of intention to appoint administrators. The loss-making firm said in a statement however that it was still working towards a reprieve. Parent firm Nestware Holdings

Post Office chief executive Nick Read is stepping back from the role temporarily to prepare for the next stage of the Horizon scandal inquiry. Mr Read, who succeeded the heavily-criticised Paula Vennells after she stepped down in 2019, told staff in a note that he wanted to give his “entire attention” to the stage of

Card payments at major high street shops like Asda, Sainsbury’s, and petrol stations across the UK appear to have crashed this morning. Many social media users are reporting being unable to pay for their shopping and petrol. “I’ve just been turned away at Sainsbury’s as they can’t accept card payments,” said Vanessa Meehan, in Twickenham.

Passengers are entitled to compensation for a flight cancelled due to airline staff illness, the UK’s highest court has ruled. “Tens of thousands” of claims made annually could potentially be affected, the Supreme Court said on Wednesday afternoon. The case was brought against British Airways (BA) by a couple whose flight was cancelled due to

The new environment secretary has summoned the bosses of most of Britain’s water companies for urgent talks amid signs that Labour will take a tougher approach to regulating the industry. Sky News has learnt that Steve Reed will hold talks with executives from all 16 of the suppliers in England and Wales, including Thames Water,

Water companies in England and Wales have been told they will not be allowed to impose the hikes to bills they have demanded, the industry regulator has said in an interim verdict on their business plans for the next five years. Ofwat declared that it was minded to slash, by a third, the combined increases