Business

Water companies are making their case for a hike to annual household bills of up to £156 in the second half of the decade, to tackle challenges including shortages and sewage leaks. Industry body Water UK said the firms’ business plans, which have to be signed off by the regulator Ofwat, would see investment almost

The prominent financier Jonathan Rowland is to take the challenger bank he co-founded six years ago onto the London stock market through a reverse takeover of another business set up by his family. Sky News has learnt that Mr Rowland, who has floated a number of corporate vehicles in the City, has orchestrated a deal

The owner of Beds.co.uk and furniture retailer Cox & Cox has swooped to buy Victoria Plum, one of the UK’s best-known bathroom sellers. Sky News understands that AHK Designs acquired Victoria Plum late on Friday evening. The brand had been put up for sale by Endless, the investment firm which had owned it since 2019.

The German media giant which publishes Die Welt, one of Europe’s leading newspapers, has joined the race to buy The Daily Telegraph and its Sunday sister title. Sky News can exclusively reveal that Axel Springer has registered its interest in acquiring the British broadsheets. Insiders said the company, which also owns the Business Insider and

Energy bills in the first three months of 2024 are projected to increase before dropping later in the year, according to a closely-watched forecast. Consumers can expect more costly bills from January as energy regulator Ofgem will bring its price cap up to £1,898 for an annual average household bill – an increase of £64,

The UK is no longer lagging behind in the G7 group of wealthy countries as revised figures show economic growth was bigger than first thought. The economy grew more than previously thought in the first three months of the year, latest figures from the Office of National Statistics (ONS) show. The data shows UK economic

Up to 20% of new cars on Britain’s roads could still be petrol and diesel models in 2030, after the government published guidelines for phasing out new internal combustion engine cars and vans by its new extended deadline of 2035. Under the terms of the so-called zero-emissions mandate published by the Department for Transport, 22%

Rishi Sunak is under growing pressure to provide support for millions of households expected to struggle with energy costs this winter. More than 140 charities and organisations are urging the prime minister to avoid a “costly sticking plaster” and support Britons against “once unthinkable” prices. Energy bills are set to be about 13% more expensive

The risk of the lights going out is down this winter, with power margins almost back to levels seen before the energy crisis, according to an eagerly awaited report. National Grid ESO’s annual winter outlook, which assesses its own readiness for the coldest months of November to March, said it only saw a matter of

The UK’s largest untapped oil and gas field has been given the green light by the government’s North Sea Transition Authority (NSTA), defying climate warnings about the damage from new fossil fuel projects. Norwegian state oil giant Equinor expects to pump 325 million barrels of oil from Rosebank, 80 miles off the Shetland coast in

Meta has “surrendered” the lease on one of its London offices as tech firms continue efforts to slash costs. The parent firm of Facebook and Instagram let the space at 1 Triton Square from British Land, the FTSE 250 commercial property company, in 2021 but never moved in. Meta paid £149m to break the lease,

Workplace absences have hit their highest level in over a decade, according to a report which is urging employers to take health more seriously if they want to retain staff. The Chartered Institute for Personnel and Development (CIPD) said that analysis of data from over 900 companies employing 6.5 million staff found an average 7.8

Nissan has committed itself to the sale of only electric cars across Europe from 2030, the year when the UK was supposed to have banned new vehicles powered by petrol and diesel. The Japanese carmaker also confirmed that all new models to be launched on the continent from now on would be fully electric. Its

With political party conference season upon us and the Tories scrambling for ways to appeal to voters and lessen Labour’s lead in the polls, abolishing inheritance tax has again been floated as the next government giveaway. So, how many people are paying inheritance tax and how much are they paying: will abolition allow grieving loved

Scrapping the HS2 rail line to Manchester would be a “gross act of vandalism”, senior Tories have warned Rishi Sunak. Former chancellor George Osborne and ex-deputy prime minister Lord Heseltine said the move would mean “abandoning” the North and Midlands. Writing in The Times, they warned the prime minister: “Governments are remembered for what they

One of Britain’s most prominent university spinout ventures is backing a developer of therapies for neurological diseases as part of a capital-raising to fund it through to clinical trials. Sky News understands that Crucible Therapeutics, which was founded by University of Sheffield academics at its Department of Neuroscience, will announce this week that it has

The northern section of the HS2 high speed rail line looks set to be scrapped by Rishi Sunak, Sky News understands. It comes as a number of Sunday newspapers reported that any decision would be announced before next weekend’s Conservative Party conference. Sky News political correspondent Tamara Cohen said: “The widespread view in Westminster is

KPMG is in advanced talks with regulators about a record fine running into tens of millions of pounds for failings in its auditing of Carillion, the construction company which collapsed in 2018 with the loss of thousands of jobs. Sky News has learnt that discussions between the accountancy firm and the Financial Reporting Council (FRC)

Amazon Prime customers will face a choice between watching adverts or paying more to remove them when updates to the firm’s streaming service kick in at the start of next year, The company also warned that live events, such as sports, will continue to include commercials even if people have upgraded to the new ad-free

The return of summer weather last month helped retail sales recover despite a hit from weaker demand for fuel, according to official figures. The Office for National Statistics (ONS) reported a 0.4% rise – a figure that grew to 0.6% when the effects of fuel sales were excluded. It said stronger clothing sales drove the