Business

The rate of price rises in UK shops has returned to “normal levels”, according to new industry figures. Overall annual shop price inflation eased to 0.6% in May, down from 0.8% in April, the British Retail Consortium (BRC) and NielsenIQ said. The figure is the lowest since November 2021. Please use Chrome browser for a

Rishi Sunak will meet leading Conservative Party donors on Monday evening as he seeks to mobilise financial support for the surprisingly timed general election campaign he triggered last week. Sky News understands that the prime minister will have dinner with a small group of long-standing and more recent donors as the Tories target millions of

An Indian pharmaceutical group is closing in on a deal to snap up Nicotinell, the anti-smoking aid, from Haleon, its FTSE-100 parent company. Sky News has learnt that Hyderabad-based Dr Reddy’s Laboratories could be within days of acquiring the brand and a number of lesser-known European products from Haleon. Sources said a deal was likely

One of Britain’s biggest housebuilders is exploring a £1bn takeover bid for Cala Group, a rival player in the sector which has been put up for sale. Sky News has learned that Persimmon, which has a market value of £4.74bn, is leaning towards submitting an offer for Cala ahead of a bid deadline next week.

In the 15-year scandal of the Post Office, this may be remembered as the day that hundreds of sub-postmasters, subject to the greatest miscarriage of justice in British legal history, were finally heard. In Westminster, the Post Office Offences Act was being rushed through parliament, included in the ‘wash-up’ triggered by the general election. Come

Pocket money is in decline, data shows – but kids are finding new ways to pay for their everyday “essentials”. Data from the NatWest pocket money index (looking at transactions from 308,000 children in the Rooster app), shared with our Money blog, shows only 30% of families now pay pocket money as part of a

Former Post Office boss Paula Vennells has admitted to amending the legal document Royal Mail issued to would-be investors before it became publicly owned to remove mention of the flawed Horizon IT system. Data from the accounting software created by Fujitsu was used to prosecute more than 700 sub-postmasters for theft and false accounting. Many

The reason for the fall in the household energy price cap is pretty straightforward – wholesale electricity and gas prices have fallen since the price cap was last set in February this year. Wholesale gas and electricity prices make up by far the biggest proportion of the energy bills – £720 of the current £1,690

The average annual energy bill will be £506 cheaper than a year ago from July, the sector’s regulator has announced. The energy price cap – which limits what can be charged per unit of energy – is due to fall from the month after next. It means the average annual bill will be £1,568 a

Growth in the UK’s powerhouse services sector has cooled by more than expected to its weakest level in six months, according to a closely-watched survey of businesses. As campaigning got underway for a general election that is widely expected to be dominated by the economy, the S&P Global UK Composite Purchasing Managers’ Index (PMI) suggested

The UK’s competition regulator has issued three tips for pet owners amid concerns they are paying too much on vet bills and are not given enough information about treatment options. It follows a March update of a review into the UK’s £5bn veterinary services industry by the Competition and Markets Authority (CMA), which said pet

Plans for a multibillion pound mass market sale of the government’s stake in NatWest Group have been derailed by Rishi Sunak’s decision to call a summer general election. Sky News can reveal that a proposed retail offer of shares in the taxpayer-backed bank will be scuppered by the timing of the poll. The Treasury has

The International Monetary Fund (IMF) has said the UK economy is heading for a “soft landing” but reiterated its message to Jeremy Hunt that he should not have cut national insurance at the last two fiscal events. In its annual check-up on the state of Britain’s economy, the Washington-based Fund also warned of a black

Cazoo, the British online car retailer once-valued at well over £5bn, will crash into administration on Tuesday. Sky News understands that insolvency practitioners from Teneo will be formally appointed just over a week after Cazoo filed to seek temporary protection from creditors. More than 700 people have already lost their jobs as a result of

The rate of price rises has dropped to 2.3% in April – the lowest in nearly three years and closer to the Bank of England’s target, according to official data. Inflation is at a low not seen since July 2021, the Office for National Statistics (ONS) said. Money latest: Do Sunak and Hunt deserve any

Traders are facing increased costs and more paperwork due to Brexit border controls, according to a new report from the independent public spending watchdog. The government is estimated to have spent £4.7bn so far but some of that spending was not necessary, the National Audit Office (NAO) has said. Despite the UK voting to leave

Ryanair has reported another year of record profits and passenger numbers. The average fare at the airline, which is Europe’s largest by passenger numbers, was 21% more expensive than 12 months earlier, its annual results showed. But the company suggested a cut in ticket prices could be on the way. Annual profits reached €1.92bn (£1.64bn),

Getir, the grocery delivery app which this month confirmed plans to exit the UK, has an outstanding debt to Tottenham Hotspur Football Club running to millions of pounds. Sky News understands that Turkey-based Getir, whose three-year training kit sponsorship deal with Spurs expired at the end of the Premier League season on Sunday, owes close

Billionaire Sir Jim Ratcliffe has told Sky News that Britain is ready for a change of government after scolding the Conservatives over their handling of the economy and immigration after Brexit. While insisting his petrochemicals conglomerate INEOS is apolitical, Sir Jim backed Brexit and spent last weekend with Labour leader Sir Keir Starmer at Manchester

Marks & Spencer’s website and app has not been working for several hours, with a message telling shoppers “you can’t shop with us right now”. “We’re working hard to be back online as soon as possible,” it adds. All the menus and images have disappeared apart from one showing a model in a green jacket.