Business

Instagram has said it is looking into why thousands of users have suddenly had their accounts suspended. Users around the world have posted on other social media platforms to ask why they have been locked out of their profiles, having received a message saying: “We suspended your account on October 31, 2022.” “We’re aware that

Twitter’s new owner Elon Musk has denied a report he plans to lay off employees before the start of next month to avoid having to make special payouts as part of their compensation deal. In a response to a Twitter user asking about the redundancies reported in the New York Times, Musk tweeted simply: “This

The next operator of the National Lottery is in talks to buy the incumbent, Camelot, in a £100m deal that would pave the way for the removal of the latter’s final legal challenge against the industry regulator. Sky News has learnt that Allwyn Entertainment is in advanced discussions with Camelot’s Canadian owner about a takeover

Octopus Energy has sealed its deal to buy Bulb, a collapsed energy rival that has been funded by billions of pounds in government support for nearly a year. Octopus said it is taking on Bulb’s 1.5 million customers “bringing an end to taxpayer losses and uncertainty for Bulb customers and employees”. It added: “Octopus is

A veteran investment banker is being lined up to chair one of Britain’s biggest car parts manufacturers as it prepares for a newly independent life as a standalone listed company. Sky News has learnt that Simon Mackenzie-Smith, a prominent City figure during a long career at Bank of America Merrill Lynch, is close to being

At first glance, there is nothing altogether unusual about the train. Sitting on the platform at Spandau station in the suburbs of Berlin, it looks much the same as every other one. But do not be fooled, for this train, manufactured by French group Alstom, is very special indeed. It runs not on electricity or

The head of NatWest, which is part state-owned, has defended the amount of tax big banks pay. Alison Rose, the chief executive, said banks were taxed more than “any other sector” and more than the financial service sectors in other countries. Speaking on Ian King Live, Ms Rose said: “On taxes, the banking sector already

English football’s top flight is lining up a £30m-a-year deal to sell digital tokens to fans after talks with a rival provider collapsed. Sky News has learnt that the Premier League will hold talks with its 20 clubs to discuss a proposed multi-year contract with Sorare, a Paris-based start-up. The deal, which is understood to

Shell has reported operating profits of $9.5bn for the third quarter of this year, lower than that of the three months before but still more than double the same period in 2021. The London-listed energy giant reported two consecutive quarters of record profit in the first half of the year amid soaring oil and gas

Online furniture retailer Made.com has stopped taking customer orders after rescue talks failed. The British company said on Tuesday that talks with potential buyers had ended, warning that if funding could not be raised before it ran out of cash, it would take “appropriate steps to preserve value for creditors”. On Wednesday, the business said

The chairman and chief executive of one of the world’s biggest banks says he is “committed to the UK”, despite recent political and economic turmoil. Brian Moynihan, of Bank of America, also told Sky News that he is not concerned about the prospect of an increase in corporation tax, adding: “We don’t live or die

The pound hit a six-week high as Rishi Sunak became prime minister today, another sign of the markets welcoming the country’s new leader. Sterling was up 1.8% against the dollar at $1.147, having risen by 1.92% to $1.150 earlier in the day – the highest level since 15 September. On Friday afternoon the pound had

The financial markets appear to have welcomed news that Rishi Sunak will be the UK’s next prime minister. The pound was up 0.15% against the US dollar just moments after Sir Graham Brady, chairman of the 1922 committee, said that only one valid nomination had been received for the top job. On Friday afternoon, the

Rishi Sunak is not just our first British Asian prime minister, our first Hindu PM. He is not just the youngest prime minister of the modern era. He is also the youngest since the Napoleonic wars and the first millennial PM. Just as intriguingly, and possibly even more consequentially, he is Britain’s first hedge fund

Train passengers have been warned to expect disruption on rail networks as a strike hits services on some of Britain’s busiest routes today. Members of the Rail, Maritime and Transport (RMT) union working for Avanti West Coast are staging a 24-hour walk-out in a dispute over rosters. Commuters have been warned to expect a “significantly

Moody’s rating agency has cut its UK’s financial outlook to negative but maintained its sovereign rating at Aa3. On Friday, the agency lowered the UK’s outlook to negative from stable, citing policy uncertainty amid high inflation and weaker growth prospects. Moody’s said the government’s “ability to engender confidence in its commitment to fiscal prudence” will

Elon Musk is finally buying Twitter, promising – or to some, threatening – sweeping changes for one of the world’s biggest social media platforms. With a self-proclaimed remit to ensure everyone’s timeline becomes the ultimate home of free speech, and a vague long-term goal to transform it into “X, the everything app”, the billionaire is

Just when you thought it was safe to step back into the gilts market… things are getting nervy again. Around lunchtime on Friday the odds on Boris Johnson winning the Conservative leadership battle rapidly shortened. For a moment, the former prime minister was favourite, on Betfair’s betting markets, to become the next PM. Johnson backed

The country’s biggest supermarket chain has raised the price for its popular lunchtime meal deal for the first time in more than a decade as costs soar. Tesco revealed that the package, typically a sandwich, packet of crisps and a soft drink, would rise from £3.50 to £3.90 for customers who are not Clubcard holders.

The latest official data on the state of the public finances and consumer spending makes for grim reading as the country awaits its next leader, with financial markets reflecting renewed jitters over the contenders for PM and the economy. The Office for National Statistics (ONS) reported that public sector net borrowing came in at £20bn