Business Energy firms face penalties if shareholders are placed above households July 3, 2023 The energy regulator has threatened action against household suppliers if they put investors before hard-pressed households. Ofgem’s chief executive Jonathan Brearley warned that financial practices seen before the energy crisis…
Business Drivers paying more for fuel due to weakening competition between retailers, regulator says July 3, 2023 Drivers have been paying more for fuel since 2019 due to weakening competition between retailers, a regulator has said. They said that increased supermarket fuel margins led to drivers paying…
Business Tesla delivers record number of cars after price cuts July 3, 2023 Electric car company Tesla has delivered a record number of cars in the second quarter – as its strategy to lower prices paid off and US consumers took advantage of…
Business Burberry chair Murphy lined up to replace Allan at helm of Tesco July 1, 2023 One of Britain’s most senior boardroom figures is to replace John Allan at the helm of Tesco. Sky News can exclusively reveal that Gerry Murphy, the chairman of Burberry and…
Business Energy bills to fall from today but will still cost almost double pre-crisis levels June 30, 2023 Households will pay less for their gas and electricity from today but bills will still be almost double what they were before the energy crisis. The average household energy bill…
Business Apple becomes first public company to be valued at $3trn June 30, 2023 Apple has entered the history books as the first public company to be valued at $3trn. The 47-year-old technology juggernaut, co-founded by Silicon Valley legend, the late Steve Jobs in…
Business Energy giant hikes capacity at UK’s largest gas storage facility to bolster winter power security June 30, 2023 Energy giant Centrica has increased capacity at the UK’s largest gas storage facility to boost resilience in the coming winter. The Rough site, located 18 miles off the East Yorkshire…
Business Mortgage rate hikes threaten a ‘significant drag’ on housing market, Nationwide warns June 30, 2023 Rising mortgage rates have yet to hit the housing market but threaten to be a “significant drag” in the short-term, Nationwide has said. However, the high street lender said “a…
Business Daily Telegraph parent close to turning page on £600m sale June 29, 2023 Bosses of The Daily Telegraph’s parent company will instruct bankers within weeks to launch an auction of one of Britain’s best-known newspaper publishers. Sky News has learnt that Nick Hugh,…
Business No emergency coal-fired power for National Grid to keep lights on this winter June 28, 2023 The National Grid Electricity Systems Operator (ESO) has confirmed it will have no coal-fired power as back-up this winter, if needed, to help keep the lights on. There were five…
Business Ryan Reynolds and Wrexham FC co-owner invest in F1 team in latest sporting venture June 26, 2023 Hollywood actors Ryan Reynolds and Rob McElhenney are investing in a Formula One team in their latest sporting venture. The Deadpool star, along with business partner and It’s Always Sunny…
Business Mortgage holders to get 12-month grace period before repossessions amid interest rate hike June 23, 2023 Mortgage lenders and Chancellor Jeremy Hunt have agreed that people should be given a 12-month break before repossession proceedings start amid soaring interest rates. After the rise of the base…
Business Inflation rate stays the same, rebuilding Ukraine and cybersecurity June 21, 2023 After UK inflation remained at the same level in May, Ian King reflects on the figures with HSBC economist Liz Martins. Managing director for operations at the World Bank, Anna…
Business Inflation rate rises are turning into a sticky phenomenon – and there are a few obvious consequences June 21, 2023 Not good. Not good at all. The last few months of inflation data have had a dreary and repetitive rhythm to them. Economists predict the rate at which prices are…
Business Insurance duo to unveil plan for £1bn listed Lloyds vehicle June 20, 2023 A pair of British executives are seeking to buck the trend of waning sentiment towards special purpose acquisition companies (SPACs) by establishing a £1bn listed vehicle for investors to access…
Business Google thinks it’s come up with a new way to use a tablet – does it work? June 20, 2023 As smartphone screens have got bigger, and laptops more powerful, tablets have gone through something of an identity crisis. Once pitched as an obvious middle ground between the computer in…
Business Mortgage pain is comparable to early 90s but worse is to come June 19, 2023 The cost of a two-year fixed rate mortgage has climbed above 6% while the equivalent rate on a five-year fixed rate mortgage has reached 5.67% but the headline figures belie…
Business Spotify executive criticises Sussexes in expletive-laden podcast June 19, 2023 A Spotify executive has spoken out about the scrapping of Harry and Meghan’s $20m (£15m) deal with the streaming service, calling the royal couple “f****** grifters”. Bill Simmons, who is…
Business Mortgage rates expected to rise to 6% – as PM rules out extra help for struggling households June 19, 2023 The prime minister has declined to back extra support for mortgage holders despite higher interest rates making payments more expensive – and a further rise in rates expected. Asked if…
Business Mortgage crunch: Annual repayments set to rise by almost £3k next year June 17, 2023 Annual mortgage repayments are set to rise by £2,900 for the average household remortgaging next year, according to a think tank. As the UK’s “mortgage crunch” deepens, total annual mortgage…