Business

Marks & Spencer is swapping plastic bags for paper ones across all of its stores following a successful trial. The retailer has become the latest chain to opt for the more environmentally friendly bags following Morrisons, Waitrose and Aldi, which all use paper bags for customers – though some stores offer plastic bags as an

The John Lewis Partnership (JLP) has revealed its transformation plan will take two more years to complete than expected, while revealing a fall in losses over the first half of its financial year. The employee-owned company, in which staff are known as partners, said that a combination of higher costs due to inflation and a

Apple has announced its new iPhone 15 range with a USB-C charging port, ditching its lightning standard to comply with EU rules. It marks the first time since 2012 that the tech giant has changed the connector on its flagship device. The switch had been anticipated since last year, when the EU mandated that all

The owner of Scotland’s only commercial gold mine has warned it is at risk of plunging into administration. Scotgold Resources has suspended trading in its shares on the London Stock Exchange and says it needs “significant” funding to allow the firm to continue as a going concern. The announcement comes after the company said in

Ian King and Sky’s business correspondent Paul Kelso discuss BMW’s plan to build its next-generation electric Mini in Oxford. As a rescue deal to buy some Wilko stores collapses, Ian speaks to Julie Palmer, regional managing partner at the corporate rescue and recovery practice Begbies Traynor Group, about what this means for employees. And Space

Apple has seen around $200bn (£160bn) wiped off its value after China extended its curbs on iPhone use by government workers. Shares in the tech giant have tumbled by 6.4% over the last two days in response to Beijing ordering some state employees from using the devices. The move has fuelled fears Apple and its

The boss of the UK’s largest household energy supplier has been forced to defend record profits amid warnings of worse times ahead for household bills this winter. In evidence to the energy security and net zero committee of MPs, the chief executive of British Gas parent firm Centrica, Chris O’Shea, insisted the 889% surge in

Sajid Javid, Jacob Rees-Mogg, Greg Clark, Rishi Sunak, Grant Shapps and Kemi Badenoch: the list of Tory chancellors and business secretaries who have sought to unlock the puzzle of the British steel industry’s future in recent years is almost as long as the number of active production facilities remaining in Britain. And as the issue

Mortgage approvals dropped almost 10% last month, new Bank of England figures show. The net decrease – from 54,600 in June to 49,400 in July – is a five-month low and worse than expected. A poll of economists predicted the figure would be around 51,000. It comes following a string of figures from lenders and

Adverts for acupuncture and craniosacral therapy have been banned for making misleading claims about the treatment of long COVID. A paid-for Facebook ad and an Instagram post for Jo Llewellyn, a craniosacral therapist, included the claim that craniosacral therapists treat long COVID. Meanwhile, an Instagram post for Peachy Acupuncture said acupuncture and doses of vitamin

Food prices are still rising faster than wages, new data has shown. The British Retail Consortium (BRC) reported overall food inflation rose 11.6% in August, down from 14.3% in July. But annual growth in average total pay only grew by 8.2% from April to June, according to the latest data available from the Office for

The energy regulator has confirmed a cut to its price cap that will see average household bills come down this autumn, as experts continue to warn of hikes to come during the winter months. Ofgem said the typical household paying by direct debit for gas and electricity faces an annual charge of £1,923 from October

The Gulf’s growing prominence in international sport will take another step forward on Thursday when a Qatari state vehicle unveils a deal to create a new global padel tour. Sky News has learnt that Qatar Sports Investments (QSI), the owner of Paris Saint-Germain, the French Ligue 1 football club, will announce it has formally agreed

The US tech firm that dominates the market for chips used in artificial intelligence (AI) has delighted investors with a doubling in quarterly revenue, promising more of the same in future. Nvidia shares gained almost 10% in after-hours trading in New York on Wednesday night when it revealed a string of numbers that beat analysts’

Energy bills are to rise higher than last year for millions this winter, despite the energy price cap falling, a think tank has said. Withdrawn energy supports and a rise in the daily standing charge will mean winter bill costs going up for one in three English households, the Resolution Foundation said. That’s despite the

NatWest has said former boss Dame Alison Rose, who quit last month over her handling of Nigel Farage’s bank account closure, could receive a pay package worth more than £2.4m. Dame Alison resigned last month, abruptly ending her four-year tenure, amid government pressure on her position. It followed her admission that she had discussed the

A major US bank has been fined £5.4m by the UK’s energy regulator for failures to record and retain communications between traders. Ofgem said that the penalty imposed on Morgan Stanley & Co International plc (MSIP) was the first of its kind and related to discussions over WhatsApp between January 2018 and March 2020. The

The UK’s largest carmaker has announced plans to use old car batteries to store energy the national grid can’t use and return it to the network at peak times. Jaguar Land Rover (JLR) is turning its used car batteries into what it says will be one of the largest energy storage systems in the UK.

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country’s biggest mortgage

Microsoft lashed out in April when the UK’s competition regulator blocked the biggest gaming takeover in history. The tech giant suggested that the decision showed the UK was not a place to do business. But after the deal was approved in the EU and attempts to block it were stifled in the US, the CMA