Business

One might have thought, to judge from the acres of newsprint and hours of airtime devoted to its documentary about the Duke and Duchess of Sussex, that this would be a boom time for Netflix. Not so. Shares of the streaming giant fell by more than 8% this afternoon, wiping $11.5bn from its stock market

The Bank of England has revealed a 0.5 percentage point interest rate increase – its ninth consecutive rise as it maintains its battle against inflation. The decision, by its monetary policy committee (MPC), took the bank rate to 3.5% – a fresh high not seen since the 2008 financial crisis. The move, however, represented a

The rules limiting the volume of liquids allowed on planes and requiring electronics to be taken out of hand luggage in security are to change. The government has set a deadline of June 2024 for major UK airports to install new security technology, which will make obsolete the rule to bring no more than 100ml

The rate of inflation eased to 10.7% from 11.1% last month, according to official figures showing that food and the cost of a night out continue to rise in price ahead of Christmas. The Office for National Statistics (ONS) said falling motor fuel prices led the decline in the core consumer prices index (CPI) measure

A London-listed advertising technology provider has caved into shareholder pressure and abandoned plans to recalibrate a multimillion-pound executive pay scheme. Sky News has learnt that Tremor International has withdrawn two resolutions that were scheduled to be voted on at its annual meeting on Wednesday. They related to a repricing of share options and an increase

“Significant pressure” will be placed on the ability of households to meet their debts, the Bank of England has said in its latest health check of the UK’s financial system. Its Financial Stability Report, published on Tuesday morning, warned that economic conditions had deteriorated. It also revealed plans for a stress test covering investment funds

Police in the Bahamas have arrested Sam Bankman-Fried, the founder of bankrupt crypto firm FTX. The country’s attorney general said the Bahamas received formal notification from the US that criminal charges have been filed against him there – and it was likely there would be a request for his extradition. FTX, the world’s second-largest cryptocurrency

The economy returned to growth in October, according to early official figures which experts suggest could be the last to show expansion for some time. The Office for National Statistics (ONS) reported growth of 0.5% – following a contraction of 0.6% in September which was largely put down to disruption to usual activity because of

Troops are being trained to drive ambulances ahead of strikes as the government holds emergency COBRA meetings to limit disruption while 10 different industries go on strike this week. Over the weekend, government sources said a decision had not yet been made to put in a formal request to the Ministry of Defence but said

Britain’s biggest retailer is preparing to kick off a search for a new chairman, firing the starting gun on a race to fill one of the FTSE-100’s most prestigious boardroom posts. Sky News has learnt that Tesco is drawing up plans to begin identifying a replacement for John Allan, who will step down in 2024.

It can feel like all the money is flying straight out of your bank account this month, but payday isn’t quite as far away as you may think. There is also a range of extra benefits available in December which could ease some pressures amid the cost of living crisis. Here are some key money

The cost of antibiotics needed to treat Strep A has skyrocketed – as industry professionals claim prices have been hiked up to take advantage of “unprecedented” demand. Multiple pharmacies have warned they cannot obtain the necessary medications to treat Strep A as a 16th child died in Sussex with a suspected infection on Friday –

Depending on your point of view, Jeremy Hunt’s proposed reform of financial regulations represents a potentially significant boost to the competitiveness of the UK’s financial services sector or a potentially dangerous watering-down of rules put in place to prevent a re-run of the financial crisis. The truth, as ever, is that it is probably somewhere

Santander UK has been fined £107.8m for “repeated money-laundering failures” by the financial conduct watchdog. The Financial Conduct Authority (FCA) imposed the fine as business banking customers suffered due to “serious and persistent gaps in its anti-money laundering controls”, it said. The millions owed for the lapse come at a discounted rate. Had Santander not

A striking Royal Mail worker has voiced fears up to 25,000 staff could be sacked and new working conditions imposed on those left after the core Christmas season has finished. The man, who usually delivers letters and parcels in the London area and is being identified as ‘Derek’ because he wished to remain anonymous, was

Germany’s biggest fraud case gets underway as the former executives of payments company Wirecard stand trial after a scandal that rocked the German establishment. In a new, bomb-proof court built 5m (16ft) underground to try terror suspects, CEO Markus Braun will appear. He, and two other Wirecard managers, Oliver Bellenhaus and Stephan von Erffa, stand

Motorists should not expect to see a return of supermarkets using cheap fuel to lure in shoppers, an industry source has told Sky News. They spoke out after weeks of criticism from motoring groups and fuel price campaigners that supermarket petrol stations are failing to reflect plunging wholesale fuel prices. Data supplied by the AA

A compensation scheme for postmasters who helped expose the Post Office scandal has been unveiled by the business secretary. Postmasters who were impacted by the Post Office scandal starting from the late 1990s will be compensated under a fought-for scheme to be delivered by the Department for Business, Energy and Industrial Strategy and overseen by

The government has U-turned over its ban on onshore wind by saying turbines could be installed if the projects gain the support of local communities. The Department for Levelling Up has launched a consultation to explore how councils can “demonstrate local support and respond to views of their communities when considering onshore wind development in

A minister has urged the Rail, Maritime and Transport union not to “hold the country to ransom” after it announced days of extra strikes over Christmas in a long-running dispute over pay, jobs and conditions. Calling on the union to cancel the strikes, Nick Gibb, the school minister, said the walkouts are “inconveniencing people up