Business

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

Profits at NatWest have risen to their highest since the global financial crash. The bank recorded profits of £5.1bn before tax in its 2022 full-year results, a high not seen since 2007 and an increase from the £3.8bn booked a year earlier. The payment of a bonus to its chief executive, Dame Alison Rose, was

Rail workers and nurses will strike again next month, while frontline Royal Mail workers are also threatening a new wave of strikes. Tens of thousands of RMT members will strike again beginning on 16 March after the union received “no new offers” from employers involved in the national rail dispute. The RMT revealed the start

Retail sales rose in January, surprising economists after a two month fall, according to official figures. Sales were expected to fall 0.3% according to a Reuters poll of economist forecasts, but data from the Office of National Statistics (ONS) showed the numbers were better than the loss in December. But there was an overall fall

The union representing 112,000 frontline Royal Mail staff is increasingly “gambling with their members’ futures”, a company source has told Sky News as a new wave of strikes looms in their bitter row over pay and modernisation plans. Speaking as the Communication Workers Union (CWU) revealed a fresh mandate for industrial action, the source declared

The UK’s top flight share index, the FTSE 100, has crossed the 8,000 points barrier for the first time. It was less than a fortnight ago that the collective market value of its 100 constituents exceeded the previous record high – seen all the way back in May 2018. The intraday record of 8,003 was

Ofgem has revealed that the end of forced installation of controversial energy prepayment meters only extends until the end of March. The watchdog said the date, that household energy suppliers had agreed to, also included a temporary halt to remote transfers for customers currently on smart meters. The government had suggested last week that the

Airbus and Rolls-Royce have secured contracts to support a record order for new planes by Air India. The order, for 220 Boeing and 250 Airbus aircraft over several years, will benefit both Airbus and engine supplier Rolls-Royce in the UK, the government said. The Department for Business and Trade (DBT) said the wings, designed by

Ford has announced that 1,300 jobs, a fifth of the workforce, is being cut from its UK business as part of a Europe-wide overhaul. The majority of the UK losses will be at the Ford site in Dunton, Essex – its UK headquarters and technical centre. Up to 1,000 jobs are to be axed at

Lilt is being axed after nearly 50 years and will be rebranded as Fanta Pineapple and Grapefruit. The drink is famous for offering a “totally tropical taste”, with one well-known 1988 advert showing the “Lilt man” delivering cans on a sun-kissed beach. “The Lilt ladies”, played by two Jamaican women, became the face of the

A union representing hundreds of workers at an Amazon warehouse has revealed plans for seven more strike days. The GMB union said its members in Coventry would now take further industrial action on 28 February, 2 March and between 13-17 March. It marked an escalation in their pay fight, which began with a 24-hour strike

The crisis engulfing MJ Hudson, the stricken asset management services provider, will deepen on Monday when it discloses that its auditor has resigned. Sky News has learnt that the London-listed company will announce that EY has quit less than 18 months after being appointed. The timing of EY’s resignation, coming so soon after its appointment,

Hunter Boot, the royal warrant-holding footwear brand, is close to landing a multimillion pound funding lifeline that could pave the way for an outright sale. Sky News has learnt that Hunter is nearing a deal that will see existing shareholders injecting £5m, with lenders contributing a further £2m. The financing, which is expected to be

Castore, the British sportswear brand backed by Sir Andy Murray, is in talks with investors about a $200m fundraising as it intensifies its battle with global rivals Adidas and Nike. Sky News has learnt that the Manchester-based business, which was founded by Liverpudlian brothers Phil and Tom Beahon, is working with bankers on plans to

Wilfred Frost stands in for Ian King this week and discusses the UK avoiding a recession by the thinnest of margins. He also talks to Auto Trader’s commercial director Ian Plummer about figures suggesting the current global economic difficulties are now hitting the used car market. And with The Brit Awards celebrating the best of

Chancellor Jeremy Hunt has not ruled out increasing pay offers to public sector workers, but warned that giving more money to teachers and nurses could entrench high inflation. Speaking as it was revealed the UK economy narrowly avoided recession in 2022, Mr Hunt also indicated he would resist pressure to cancel a planned cut to

Takeaway delivery platform Deliveroo has announced it is to cut roughly 350 jobs, equivalent to about 9% of the company workforce. Roles across the global Deliveroo business will be impacted, founder and chief executive Will Shu told staff, but it is understood that UK employees will be worst hit by the losses. The majority of