Business

Wood Group, the London-listed oil sector engineer, is cutting hundreds of jobs nearly a year after talks about a takeover collapsed. Sky News understands that the company is expected to announce next week alongside its full-year results that it has launched a new cost efficiency programme that sources said would affect white-collar workers globally. One

Ian reacts to the latest figures from the Office for National Statistics which showed inflation fell to 3.4% in February, down from 4% the month before. Also Greggs becomes the latest company to suffer from IT issues, forcing some of its stores to briefly close. And the chief executive of fitness chain David Lloyd Leisure

Japan’s central bank has signalled progress in its efforts to boost the country’s economy by ending vast swathes of a massive stimulus programme. Policymakers in the country, which has struggled for decades to achieve price growth to bolster activity, took the decision eight years ago to impose a negative interest rate of -0.1%. The aim

Britain’s car industry has insisted that an unprecedented 2,000% increase in vehicle exports to Azerbaijan has nothing to with Russia and is explained by the fact that the former Soviet state is a “flourishing market in its own right”. Sky analysis has found that the British car sector sent another £40m worth of cars to

Bitcoin has suffered a sharp pullback from record highs. The world’s biggest cryptocurrency fell to $66,885 in the early hours of Friday – down 9%. Only yesterday, the digital asset had been touching an unprecedented price of $74,000. Image: Bitcoin’s price over the past week. Pic: CoinGecko It is difficult to pinpoint a single reason

An Australian computer scientist is not ‘Satoshi Nakamoto’, the pseudonym attributed to the unknown person widely credited with inventing Bitcoin, a High Court judge has ruled. Dr Craig Wright, who claimed he was Satoshi, was sued by the Crypto Open Patent Alliance (Copa), a non-profit group that includes cryptocurrency firms. During the five-week trial, the

The battle for the Telegraph titles has been a story of high principle, low politics and raw commerce. The proposed takeover by Abu Dhabi-backed RedBird-IMI, 75% financed by the UAE vice-president Sheikh Mansour, was opposed on a clear point of media ethics; that British national newspapers should never be controlled by a foreign state. It’s

Airbnb says it is banning the use of indoor security cameras in its rental properties around the globe from next month. The company said in the past it has allowed the use of indoor security cameras in common areas like hallways and living rooms but is clamping down on their use in order to “continue

The value of Bitcoin has reached a new high, just days after the previous record was broken. On Monday morning one Bitcoin, the best-known cryptocurrency, could buy $72,219 (£56,303). Money blog:Major lenders increase mortgage rates – what’s going on? The price of the digital asset has grown 51% in the last month alone as the

China has set an ambitious growth target of around 5% for 2024 as it aims to boost its flagging economy. Chinese Premier Li Qiang made the announcement at the opening of the country’s annual meeting of the National People’s Congress on Tuesday, in a speech that prioritised both security and the economy. Mr Li said

Ian has the latest developments at The Daily Telegraph with Sky News’ City editor Mark Kleinman. He also speaks to David Livingstone, chief client officer at the Wall Street banking giant Citi, about the budget. And Zig Serafin, chief executive of Qualtrics talks to Ian about making businesses more productive. :: Listen and subscribe to

Apple has been fined €1.8bn (£1.54bn) by the EU for favouring its own music streaming service rather than rivals. Apple didn’t fully inform their device users there were alternative and cheaper subscription services for more than a decade, said the EU executive, the European Commission. As a result, iPhone and iPad users paid “significantly higher

For the first time in over a year house prices are more expensive than they were 12 months previously as high mortgage bills have not dampened demand for homes, according to the UK’s largest building society. While the cost of buying a house or flat slightly increased from month to month at certain points during

The Home Office immigration system statistics for 2023 tell a different story to the one that dominates the political discourse. While government commentary and policy has focused on illegal migration via small boats, the largest driver of rising immigration is people coming to work, primarily in a health and care sector that would not function

The Body Shop has published the full list of stores that are to close – and which will stay open – as it announced 489 jobs will go over next four weeks. While 116 shops will continue trading, 75 will shut over the next four to six weeks – in addition to the seven immediate

Bitcoin has hit $60,000 for the first time since November 2021 – putting the cryptocurrency in touching distance of a new record high. One Bitcoin cost $60,519 early on Wednesday afternoon after days of huge rises. It’s close to the all time high of $60,655 recorded on 31 October 2021 when many people turned to

As household energy bills are set to fall in April, Ian King talks to Sky’s business correspondent Paul Kelso. He also speaks to Bill Winters, the chief executive of Standard Chartered, about its $1bn share buyback. Erik Hirsch, co-chief executive of Hamilton Lane, a leading private markets investment firm, also joins Ian. Listen and subscribe

Russia has pulled out of a long-standing fishing deal with the UK – and said Britons should “lose weight and get smarter”. A 1956 agreement that allows British boats to fish in the Barents Sea has been ripped up, in the latest sign of growing tensions between Moscow and the West. The fishing deal was

Russia has pulled out of a long-standing deal with the UK – putting fish and chips at risk. A 1956 agreement that allows British boats to fish in the Barents Sea has been ripped up, in the latest sign of growing tensions between Moscow and the West. War latest: Biden brands Putin ‘crazy SOB’ Please

The Body Shop has announced it is closing half of its stores in the UK – including seven today and cutting 40% of roles at its London-based head office. It comes after the embattled retailer entered administration last week, putting more than 2,000 jobs at risk. The Body Shop has roughly 200 outlets across the