Business

The scandal-hit CBI has secured support in its battle for survival by winning a crunch membership vote on plans aimed at restoring trust in the business lobby group. The UK’s largest employers’ organisation needed a simple majority to win the vote in an extraordinary general meeting in London and won 93% in favour of its

The CBI director general Rain Newton-Smith will appeal for members to approve reforms ahead of a finely balanced vote that could decide the future of the scandalised business lobby group. The 59-year-old body, traditionally the voice of big business, faces a potentially existential referendum at an extraordinary general meeting in London, where members will be

British Airways (BA) has revealed all its staff who are paid in the UK have been caught up in a cyber incident that has exposed personal data including bank and contact details to hackers. It emerged last week that a so-called zero-day vulnerability – a flaw – in the file transfer system MOVEit, produced by

Apple is expected to announce a mixed reality headset – its first brand-new product for eight years – at its annual event for developers. The tech giant’s WWDC showcase is usually reserved for software reveals – notably the next major updates for its iPhones, iPads, and Macs – but this year fresh hardware is on

Siemens, the German-based industrial technology giant, is this weekend leading a last-ditch rallying cry to save the CBI, the ailing business lobbying group. Sky News has learnt that Siemens, which employs 11,000 people in Britain, is coordinating a letter among a group of CBI members to urge them to publicly endorse its survival. The letter,

The talent agency which managed Phillip Schofield until the disgraced TV star’s career imploded this week is this weekend facing questions about its own future after its lenders called in advisers to explore a financial restructuring. Sky News can reveal that YMU, which is owned by a private equity firm, has for weeks been involved

The price of diesel fell by almost 12p last month – a record drop, according to new figures. The RAC said the average price per litre was now 147p, down from 158.9p at the start of May – making it the seventh consecutive month prices have fallen. It means the cost of a typical 55-litre

Rail strikes are set to cause further havoc today when train drivers walk out ahead of high-profile events including the FA Cup final, the Epsom Derby, and a Beyonce concert. Members of the Aslef union are taking industrial action in the long-running dispute over pay and working conditions. Read more: Everything you need to know

Two of the country’s biggest banking giants have announced they are closing a total of 63 branches. Barclays said on Friday it will shut another 10 branches, on top of more than 70 closures this year that have already been announced. Meanwhile Lloyds Banking Group will shut the doors on 21 Lloyds Bank sites, along

As food inflation rises to 19.2%, its highest rate in 42 years, the European Central Bank has suggested it could be down to, in part, businesses profiteering from the cost of living crisis by increasing their prices for larger margins, a term known as “greedflation”. But what is the data behind the suggestion? On the

The owner of British Gas is facing criticism from a leading City investor over the multimillion pound pay package handed to its chief executive after persistent criticism of windfall gains triggered by share price collapses during the pandemic. Sky News can reveal that abrdn, one of the London stock market’s most influential institutional shareholders, will

Amazon and a subsidiary have agreed to pay millions to settle two separate privacy cases against its Alexa and Ring doorbell devices. Both cases were taken by US government consumer watchdog, the Federal Trade Commission (FTC), and Amazon denies violating the law. In a case against the Alexa voice assistant, Amazon agreed to pay $25m

CBI members are to begin voting today on the future of the business lobby group, following a series of scandals. The organisation was plunged into disarray after claims of serious sexual assault were made by CBI employees against colleagues. Today it will launch what it describes as an “ambitious ‘programme of change'”, with adjustments to

A shipment of British goods – including signed Beano comics – are to be sent to Australia and New Zealand to mark the start of two new post-Brexit trade deals. The agreements between the UK and Australia, and the UK and New Zealand, came into force at midnight. Business and Trade Secretary, Kemi Badenoch, described

Artificial intelligence poses a similar risk of human extinction as pandemics and nuclear war, experts have warned. The boss of the firm behind ChatGPT, the head of Google’s AI lab, and CEO of Anthropic – another major AI firm, have all signed an open letter. It reads: “Mitigating the risk of extinction from AI should

Food inflation in the UK has slowed from April’s record-breaking rise – but is still up more than 15% on the year, new retail figures show. Research by the British Retail Consortium (BRC) and Nielsen shows a 15.4% rise in food inflation in the year to May. It is the second-fastest annual increase that the

HSBC will next month unveil a new name for the technology-focused bank it rescued earlier this year after its US parent collapsed. Sky News has learned that Europe’s biggest lender intends to rebrand Silicon Valley Bank UK (SVBUK) under the name HSBC Innovation Banking. The new identity is expected to be announced to coincide with

The Ineos billionaire Sir Jim Ratcliffe remains the leading candidate to buy Manchester United Football Club despite an inconclusive board meeting held late last week. Sky News understands that directors of the Premier League club’s holding company met on Thursday to discuss the progress of its £5bn-plus auction. Controlled by members of the Glazer family

Plans to encourage supermarkets to introduce voluntary price caps on food staples in a bid to help with the cost of living crisis are being drawn up by Downing Street, according to reports. The scheme would aim to get retailers charging the lowest possible amount for some basic products like milk and bread, the Sunday Telegraph reported. A

The executive who presided over a bitter “cruises and cufflinks” row at one of Britain’s biggest wealth managers is preparing to step down. Sky News has learnt that St James’s Place, the FTSE-100 group which oversees more than £150bn of client assets, has kicked off a search to replace Andrew Croft. City sources said on