Business

Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK. The car manufacturer said the cuts are needed as part of plans to bolster its competitiveness amid the stuttering drive to an all-electric vehicle (EV) future that has hit sales. Ford said the cuts would take place over the

Inflation jumped to 2.3% in October – a six-month high. A rise in household energy bills contributed to the higher-than-expected reading. Economists had forecast a figure to 2.2% after a three-year low of 1.7% in September. But how does all of this affect the cost of groceries, clothing and leisure activities? Use our calculator to

Energy bills are to rise again next year, according to a respected forecaster. Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of

An AI software company which counts Britain’s largest gas distribution network among its clients will this week announce that it has secured $15m (£11.6m) in new backing from a syndicate of leading venture investors. Sky News understands that Cogna, which launched last year, has landed the funding from Notion Capital, with backing from Hoxton Ventures

Every Monday in our Money blog, we answer questions about your financial problems or consumer disputes. This week, a reader asked what rights they had after a bad haircut. Reader Tim asked: “I’ve just moved to Norwich for work and went to a new barber. The barber didn’t listen and cut way too much at

Donald Trump’s victory was secured on an unequivocal promise to stretched American households that he would “end inflation”, but markets and economists are anticipating his second term will do the opposite. A combination of corporate tax cuts, government borrowing, lower migration and swingeing tariffs on overseas imports are all expected to heat up the American

An influential Manchester United supporters’ group has demanded that the club’s owners revive plans for a fan share scheme, which remains on ice nearly three-and-a-half years after it was initially promised. Sky News has learnt that the Manchester United Supporters’ Trust (MUST) wrote to Joel Glazer, Sir Jim Ratcliffe and Omar Berrada, the club’s new

Britain’s fourth-biggest household energy supplier has poached a senior executive from Monzo, the digital bank, as it explores options that could lead to a change of ownership. Sky News understands that OVO has recruited James Davies, who has worked for companies including William Hill and Purplebricks, the online estate agent, to become its new chief

UK inflation has eased to 1.7%, dipping well below the Bank of England target for the first time since 2021, according to the Office for National Statistics (ONS). It’s a drop on the 2.2% recorded in last month’s Consumer Prices Index (CPI). The Bank of England has been trying to bring inflation down by keeping

Israel is fighting on at least four fronts, threatening a war across the oil-rich Middle East, but there is no great sense of fear yet as far as financial markets are concerned. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen and the ultimate sponsors of these groups, Iran, has proved

Elon Musk has lashed out at the UK after reports he had been snubbed by a government investment summit.  The tech billionaire hasn’t been invited to the summit next month after his posts on his X platform regarding the violent riots in the UK last month, according to a BBC report. In response, he made

Jaguar Land Rover (JLR) has revealed a further £500m investment in its Halewood plant on Merseyside to bolster future production of all-electric cars at the site. The country’s largest automotive manufacturer, which revealed plans in 2023 to produce the first emission-free model at Halewood in early 2025, is now targeting a timeframe later that year.

The UK’s public sector debt has hit 100% of the value of the country’s annual economic output for the first time since the 1960s, according to official figures released ahead of the chancellor’s maiden budget. The Office for National Statistics (ONS) said, in a preliminary estimate, that the figure had risen from the 99.3% figure

One of the City’s most prominent fund management groups is heaping fresh pressure on the environmental record of Britain’s water industry by calling for suppliers to take steps to curtail the spread of antimicrobial resistance (AMR). Sky News understands that Royal London Asset Management (RLAM), which manages £169bn in assets, is calling on the UK’s

Manchester United’s losses grew to £113.2m last season due to the cost of selling a stake to Sir Jim Ratcliffe and investment in players failing to translate into Premier League success. It followed net losses in the previous two years of £28.7m and £115.5m, putting a spotlight on the club’s compliance with football’s profit and

A bid for The Daily Telegraph spearheaded by the owner of The New York Sun has raised the extraordinary possibility of a return to the British newspaper group for Conrad Black, its former proprietor. Sky News can reveal that Lord Black – who is listed as a contributing editor to and founding director of the

A slump in oil prices could lead to further reductions at the fuel pumps but any benefit risks being stripped away next month as the chancellor seeks ways to bolster the public finances. A barrel of Brent crude, the international benchmark, slipped below $70 for the first time since December 2021 on Tuesday afternoon. The

The European Court of Justice has ordered Apple to pay $13bn (£11bn) in back taxes to Ireland following the conclusion of a long-running legal fight that the country did not bring. The European Commission brought the action in 2016, to the fury of both Apple and Ireland‘s government, on the grounds that the EU member

Apple is launching its latest iPhone in what is billed to be its biggest release of the year. As well as the iPhone 16 being rumoured to come in a new range of colours, it should also be capable of running Apple Intelligence, the company’s new AI. Apple Intelligence will eventually be embedded throughout the

More than 100 Body Shop stores have been saved from closure after a deal was struck to rescue one of Britain’s best known high street chains. The well-known retailer was bought out of administration by a consortium led by “Cosmetics King” Mike Jatania. The millionaire tycoon’s investment firm Aurea announced the completion of the acquisition