Business

The UK economy returned to growth in November, according to official figures that are being closely watched amid fears the prospect of recession remains on a knife edge. The Office for National Statistics (ONS) reported output growth of 0.3% for the month – recovering from a 0.3% decline witnessed in October when many weather-sensitive sectors

The boss of Ryanair has complained of “minor issues” with new aircraft delivered by Boeing as the US plane manufacturer battles to contain the fallout from its latest safety scare. Michael O’Leary had used an interview with the Financial Times earlier this week to raise concerns about quality control at the US firm in the

A US regulator has reluctantly given its approval for funds holding Bitcoins to be traded on the US stock exchange. The approval by the US Securities and Exchange Commission (SEC) – an independent agency which has a primary purpose of enforcing laws against market manipulation – will allow investors to gain exposure to Bitcoin without

The head of beleaguered plane maker Boeing has said “a quality escape” occurred in safety checks which led to a mid-flight blowout when a door ‘plug’ came off during a flight involving one of the company’s jets. Chief executive Dave Calhoun explained that the “quality escape” to which he referred was “anything that could potentially

A former US congressman – who led an extensive investigation into previous issues with Boeing planes – has accused the company of relying on “crappy stuff” from its subcontractor after the 737 MAX 9 mid-air blowout. Peter DeFazio, who chaired the House Transportation and Infrastructure Committee until 2022, said the focus needs to turn to

Former Post Office boss Paula Vennells will hand back her CBE with immediate effect amid the fallout of the Horizon IT scandal. The scandal led to the convictions of hundreds of sub-postmasters. Ms Vennells said in a statement: “I continue to support and focus on co-operating with the inquiry and expect to be giving evidence

The father of a two-year-old boy who died after exposure to mould at his housing association flat has backed proposals to bring in a strict time frame for landlords to fix problems. The new requirements are part of a consultation on measures under legislation named after Awaab Ishak. Awaab died in December 2020 from a

Barclays is in the process of removing 5,000 roles from its global workforce in recent months as part of a renewed push by executives to slash costs and improve the bank’s profitability. Sky News has learnt that a total of roughly 5,000 jobs were shed from the British bank’s 84,000-strong ranks during 2023, with about

A petition calling for former Post Office boss Paula Vennells to lose her CBE over the Horizon scandal has attracted more than one million signatures. Demands to remove Ms Vennells CBE emerged again after ITV aired a new drama into the scandal, Mr Bates vs The Post Office, which tells how former subpostmasters and subpostmistresses

Planned strikes which would have crippled London Underground services this week have been called off, according to a union. RMT say the industrial action by its workers on the Tube network – scheduled to take place from Monday to Thursday – will no longer go ahead, after positive talks with Transport for London (TfL). The

Rishi Sunak has vowed to cut taxes before and after the general election – but has warned they will be funded by curbing benefits and government spending. Speaking to The Sunday Telegraph, the prime minister sought to create a clear contrast between the Conservatives and Labour as campaigning begins. While Mr Sunak insisted his priority

Some of BP’s largest shareholders have urged it to approach Charles Woodburn, the BAE Systems chief executive, about becoming the FTSE-100 oil behemoth’s next boss. Sky News has learnt that several large investors believe that BP should target the appointment of an external candidate as its CEO for the first time in its 114-year history.

Chancellor Jeremy Hunt is unsure if the government can afford further tax cuts – as a National Insurance (NI) reduction comes into force today. The pre-election cut to NI, from 12% to 10%, will impact around 27 million payroll employees across the UK. A person earning the UK’s average salary of £35,000 will save £450

The chairman of NatWest bank has come under fire after he claimed it is not “that difficult” for people to get on the property ladder in the UK. Sir Howard Davies said that while some found it hard to “start the process”, aspiring homeowners “have to save and that is the way it always used

Here’s a sentence which might sound a little odd: higher interest rates have been good news for the UK economy. For the first time in many decades, the pain faced by borrowers from higher interest rates has been more than balanced out by the benefit experienced by savers from those interest rates. If this sounds

Sir Keir Starmer has refused to commit to unfreezing tax thresholds if Labour wins the next general election, saying he won’t make promises he can’t keep. However, the Labour leader was firmer in his position on inheritance tax, telling Sky News if the Tories reduce it, he will reverse that change because he does not

Imported foods may be labelled when they do not meet welfare standards, as the government considers measures to help shoppers “buy British”. Environment Secretary Steve Barclay is set to announce plans to change labelling on goods to clarify if it is produced to the highest standards, as part of sweeping reform to support farmers. Mr

A string of banks and building societies are likely to follow the UK’s largest lender in cutting mortgage rates in the coming weeks, experts have said. It comes after Halifax reduced its rates by up to 0.83% on Tuesday, including a two-year deal of 4.68% with a £999 fee. Lloyds Banking Group, which owns Halifax,

Two of the world’s largest container ship operators have extended diversions from the Red Sea following an attack on a vessel at the weekend that has been blamed for a renewed oil price volatility. Maersk had suspended, on Sunday, sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou,

The number of new first-time buyers with a mortgage fell last year to the UK’s lowest level in a decade, according to a new report. Yorkshire Building Society said around 290,000 first-time property owners entered the mortgage market in 2023 – a decline of more than a fifth on 2022’s total of 370,287. It comes