Business

The annual rate of inflation shot up to a fresh 30-year high of 7% in March reflecting, for the first time, the immediate effects of Russia’s invasion of Ukraine. The largest contributors to growing inflation were increased fuel prices and energy bills, according to the Office for National Statistics (ONS). The consumer prices index (CPI)

Wage growth in the UK struggled to keep up with increasing inflation between December 2021 and February 2022, according to the Office for National Statistics (ONS). Average weekly pay packets across Britain fell in December by 1%, reflecting how wages are struggling to keep up with the rising cost of living. Regular wages, excluding bonuses,

The government is facing a call for “nationwide injunctions” to stop Just Stop Oil (JSO) protesters disrupting the delivery of fuel to forecourts. Labour demanded ministers intervene with similar measures imposed last autumn after Extinction Rebellion and Insulate Britain campaigners blocked major motorways, including the M25, other arterial routes and even the Port of Dover.

Prices have increased faster over the past 12 months than at any time in the previous 30 years, putting pressure on already stretched household budgets. The latest increases have been driven by rising household energy and fuel costs. But how much has your individual spending gone up in the past five years? Use our new

The chairman of the world’s richest basketball league has joined one of the consortia preparing to table final takeover bids for Chelsea Football Club this week. Sky News has learnt that Larry Tanenbaum, who chairs the National Basketball Association (NBA) and owns a host of North American sports teams, is among the investors backing Steve

One of Britain’s top boardroom headhunters is to oversee the search for a new chairman of the Premier League as a recruitment process gathers pace five months after the role’s last incumbent resigned. Sky News has learnt that MWM Consulting, which was set up by the veteran search consultant Anna Mann, has been charged with

Congestion chaos at the Dover port crossing is reportedly costing transport companies £800 per lorry – as British hauliers of perishable goods complain the long waiting times are causing products to go bad. The suspension of P&O ferry services at the terminal as well as Easter traffic, IT issues and bad weather, have led to

Three multimillionaire businessmen have docked and entered the International Space Station in what has been hailed as a milestone for commercial space exploration. Alongside a retired NASA astronaut, the men launched from Florida on Friday as part of a private SpaceX launch. The four men were welcomed onboard the ISS on Saturday by the crew

The owner of the Cannes Lions global advertising festival is plotting a £1.5bn break-up that would see part of the company shift its stock market listing across the Atlantic to New York. Sky News has learnt that Ascential, which has a market capitalisation of £1.49bn, is working with investment bankers on plans to demerge its

Marine Le Pen is closing the gap on Emmanuel Macron in the opinion polls – and investors are getting nervous ahead of this weekend’s first round of voting in the French presidential elections. For months it has seemed that Mr Macron, who cruised to victory five years ago at the head of his newly-formed La

The owners of TalkTalk, one of Britain’s biggest broadband providers, have received tentative approaches about a possible £3bn sale of the company amid a frenzy of international telecoms industry consolidation. Sky News has learnt that Vodafone has been weighing whether to make a potential offer for TalkTalk in recent weeks. Sky, the Comcast-owned immediate parent

The last four bidders for Chelsea Football Club have been given extra time to table final offers for the Premier League side as the most hotly contested sports auction in history looks set to be extended. Sky News has learnt that the remaining consortia were informed on Thursday by the advisers handling the sale that

Boris Johnson has pledged to “do more” to help people with the rising cost of living after Business Secretary Kwasi Kwarteng admitted the government’s energy security strategy is “more of a medium three, four, five year answer”. Speaking to broadcasters from Hinkley Point C ahead of the release of the energy plan later today, the

Part of National Grid will be returned to public ownership under a new plan to help Britain reach its climate targets. The utility company will sell its Electricity System Operator (ESO) arm to the government and will then become part of a new Future System Operator (FSO). The new authority will oversee Britain’s electricity systems

The Treasury has blocked a proposal to expand the energy scheme to upgrade household insulation and energy efficiency, Sky News understands. It had been reported that Number 10 and business ministers were calling for an expansion of the Energy Company Obligation (Eco) scheme – which uses money raised from a levy on energy bills to

Elon Musk has topped Forbes’ list of world billionaires, relegating Amazon founder Jeff Bezos to second place for the first time in four years. Musk was worth an estimated $219bn (£166bn) as of 11 March – when the list’s authors locked in net worths – after adding $68bn (£51bn) to his fortune over the past

Arts, crafts and hobbies retailer The Works has called in cyber security experts after its systems were subjected to an attack by hackers. The company, which trades online and from more than 500 stores across the UK and Ireland, said it had shut down access to its data internally and externally after being alerted to

The government has decided to push ahead with plans to privatise Channel 4. Ministers have concluded, following a consultation, that while the broadcaster is “currently performing well” its public ownership is “holding it back in the face of a rapidly-changing and competitive media landscape”, a government source said. A spokesperson for Channel 4 said it

Shares in social media giant Twitter have surged by a quarter after it was revealed that Tesla billionaire Elon Musk had bought a 9.2% stake. A regulatory filing showed the tycoon had snapped up 73,486,938 Twitter shares. The stake is worth $2.89bn (£2.2bn), based on Twitter’s closing price on Friday. Musk is a frequent user