A boost in household spending power has been revealed as basic wage growth in July outstripped the rate of inflation for the first time in more than 18 months, according to official figures. The latest employment data from the Office for National Statistics (ONS) showed that wages, excluding the effects of bonuses, were up 7.8%
Business
A further 9,100 Wilko employees will be made redundant by early October, administrators have said. PricewaterhouseCoopers (PwC) failed to reach a deal to save any significant part of the retailer after it went into administration. “It is anticipated that all stores will be closed by early October, resulting in the redundancies of a further 9,100
All 400 branches of collapsed retailer Wilko will close by early October with the “likely” loss of all 12,500 jobs at the chain, according to the GMB. The union said it was informed of the development by administrators PwC on Monday morning. PwC declined to comment. The GMB said it meant it was now “likely”
A British-based sleep technology business is being put up for sale by its London-listed owner in a deal that could fetch tens of millions of pounds. Sky News has learnt that Cambridge Sleep Sciences (CSS), which develops and licenses sound technology to help users get better sleep, is to gauge interest from prospective buyers. City
Insolvency firms face being formally regulated for the first time under reforms to be announced next week that will nevertheless fall short of a pledge to establish a new watchdog. Sky News has learnt that the Insolvency Service, which is part of the Department for Business and Trade, will unveil plans that will mean firms
The owner of Cafe Rouge is in talks to buy Chiquito’s and Frankie and Benny’s, two of Britain’s best-known restaurant chains. Sky News has learnt that The Big Table, which is backed by the private equity firm Epiris, is negotiating the acquisition of the two brands from The Restaurant Group (TRG), the London-listed owner of
The supermarket chain Wm Morrison is in talks about a £2bn deal to offload one of Britain’s biggest petrol forecourts empires. Sky News has learnt that the grocer has opened discussions with Motor Fuel Group (MFG) about a deal, with an agreement possible during the autumn. Both Morrisons and MFG are controlled by the private equity
The CBI, once Britain’s most influential business organisation, is facing an urgent cash crunch as it races to cut costs and seal a potential tie-up with a fellow lobbying group. Sky News has learnt that the CBI could be within weeks of running out of cash, spurring it to hold detailed talks about a tie-up
The government’s green energy plans have been dealt a blow after firms snubbed an auction for contracts to run new offshore wind sites. Insiders had warned the process had struggled to attract bidders because the government has set the maximum price generators can receive as too low, failing to reflect the rising costs of manufacturing
About 80% of mortgage holders and renters are now worried about rising housing costs, according to a poll. Which? said the figure was the highest in the 10-year history of its monthly Consumer Insight Tracker. It comes as rents continue to rise and mortgage payments remain high after the Bank of England hiked interest rates
Energy industry leaders have warned the UK could fall behind a key target for new offshore wind power ahead of the results of a government auction that is widely expected to flop. Multiple industry sources have told Sky News the auction, the results of which are expected to be announced on Friday, has received little
The governor of the Bank of England has told MPs that interest rates may not rise much further amid expectations that inflation is set to fall “markedly” by the end of the year. Andrew Bailey said rates were “much nearer now to the top of the cycle” following a 14th consecutive hike – to 5.25%
Rick Haythornthwaite, the City grandee who has chaired companies including Centrica and Network Rail, is being lined up as the new chairman of NatWest Group in the wake of the row about the de-banking of Nigel Farage. Sky News has learnt that Mr Haythornthwaite, who currently chairs Ocado and the AA, is expected to be
The price of petrol in the UK could soon rise further after the cost of oil jumped to its highest level this year. Brent crude climbed to more than $91 (£72) a barrel on Tuesday afternoon, a price not seen in the market since November 2022. It later fell back slightly by the evening to
Wilko’s administrators have offloaded 51 Wilko stores to B&M but the discount retailer is yet to confirm whether workers at the sites will be retained. Sky News had earlier reported on the expected announcement, with City editor Mark Kleinman adding that hopes were fading for a wider rescue deal that would take in the vast
The Bank of England “regrettably” made mistakes that have fuelled inflation in the UK, its former chief economist has told Sky News. Andy Haldane said the Bank had printed money through its programme of quantitative easing “longer than it needed to” as it tried to help the economy recover from COVID – and also suggested
It’s been a crazy few years for the cost of many services and essentials, with fuel prices among the bills enduring something of a roller-coaster ride. Pump prices during the COVID pandemic sank as low as £1.07 a litre for petrol and £1.11 for diesel as demand fell off a cliff due to lockdowns. As
The boss of Universal Music Group and the fashion designer Anya Hindmarch are among a coterie of British business leaders being lined up to join a revamped government Board of Trade. Sky News has learnt that Ms Hindmarch, the UMG chairman and chief executive Sir Lucian Grainge and Tim Bevan, the co-founder of film producer
Frontline Tesco workers will be offered body cameras following an “unacceptable” spike in verbal and physical attacks. The supermarket’s chief executive Ken Murphy said the move to protect its “unsung heroes” was prompted by a rise in physical assaults by a third compared with this time last year. Writing in the Mail on Sunday, Mr
Chancellor Jeremy Hunt is confident his plan to reduce rising prices is working and will soon ease the financial strain on UK households. Ahead of parliament returning on Monday, Mr Hunt acknowledged that many households across the country are still struggling financially. He emphasised that “sticking to the plan” to reduce inflation is the best
- « Previous Page
- 1
- …
- 49
- 50
- 51
- 52
- 53
- …
- 108
- Next Page »