Business

BMW, the German car manufacturer, is applying the finishing touches to plans to invest hundreds of millions of pounds into its Oxford plant, securing future production of the iconic Mini in Britain. Sky News has learnt that BMW hopes to announce its decision later in the spring, with one industry insider saying on Wednesday that

The Rail, Maritime and Transport Workers’ union has suspended all industrial action against Network Rail following a new pay offer. Strike action was due to take place from 2am on 16 March until 01.59am on 17 March. A ban on accepting overtime – which can be disruptive for maintenance works – had been due to

The head of the manufacturing sector’s lobby group has demanded a “reset” in the UK’s relationship with the European Union, claiming international suppliers have increasingly turned their backs on the country. Stephen Phipson, chief executive of Make UK, told the organisation’s annual conference that political turmoil in the UK had exacerbated supply chain strains caused

The director general of the Confederation of British Industry (CBI) Tony Danker has stepped aside from the role while the business lobby group investigates allegations relating to his workplace conduct. The body said he had requested to leave the role while a number of allegations were examined. They came to light after a previous allegation

Grant Shapps is facing fresh calls to overhaul the energy regulator’s powers amid growing fears for hospitality businesses’ ability to withstand soaring power costs. Sky News has seen a letter from Kate Nicholls, chief executive of UK Hospitality, to the energy secretary in which she demands that Ofgem be allowed to tackle suppliers’ handling of

Hundreds of thousands of the UK’s smallest businesses risk going under this year as costs keep rising, a report has revealed. The owners of nearly one in eight microbusinesses, defined as employing fewer than 10 people, fear they will have to fold, equating to 630,000 businesses. Catherine Sweet sells art for a living – both

Manchester United bidders are due to meet with the club in the next two weeks and gain access to accounts – enabling offers to end the ownership of the Glazers. Sky News understands the two declared bids are now progressing two weeks after the deadline to declare interest – from Qatari hopeful Sheikh Jassim bin

An arm of the Wall Street behemoth Goldman Sachs is among the suitors hoping to take a mouthful of Subway, the global sandwich chain which has been put up for sale with an estimated $10bn price tag. Sky News has learnt that Goldman Sachs Asset Management (GSAM) is one of at least a handful of

Support for energy bills from the government is expected to continue for three months from April, protecting consumers from an average increase of £500. Sky News understands the chancellor will cancel a reduction in support that would have seen typical annual bills rise from £2,500 to £3,000. In recent days, the government has asked energy

A major Cambridge-based microchip designer has decided not to list on the London Stock Exchange, despite lobbying from three UK prime ministers. Arm, the Japanese-owned and Cambridge-headquartered company, announced on Thursday night it would list on the New York Stock Exchange, snubbing the City of London. Its owner, the giant Japanese technology investor SoftBank, spent

WH Smith has said it has been the target of a cyber attack that has seen hackers access company data. The high street retailer added hackers have also been able to access current and former employee information. It said the hack has not impacted its trading activities and stressed its website, customer accounts and customer

More than three in four mothers (76%) who pay for childcare say it no longer makes financial sense for them to work, a survey of thousands of parents has found. A new report by the charity Pregnant Then Screwed warns the ever-increasing costs of childcare are driving families into debt – or preventing them from

Interest rates may rise less than previously thought with the governor of the Bank of England signalling there is no urgent need for hikes. The central bank has been consistently raising interest rates – making borrowing more expensive – in an effort to bring double-digit inflation down to the Bank’s 2% target. Further increases had

Brexit and bad planning – along with weather – are to blame for the fruit and vegetable shortage affecting the UK’s supermarkets, Spain’s agriculture minister has said. Major chains Tesco, Aldi, Lidl, Morrisons and Asda have imposed limits on the number of certain items customers can buy. Fruits and vegetables increasingly sourced from Morocco and

A further 2,000 pubs are at risk of closure, threatening 25,000 jobs, unless the chancellor comes to the sector’s aid in this month’s budget, according to an industry body. The British Beer and Pub Association (BBPA) cited research by Oxford Economics which forecast 288 million fewer pints would be sold in the next financial year

The job offer couldn’t have come at a better time for Theo.  He had been job hunting for a year, picking up part-time hours in events. He was homeless, crashing on friends’ couches. “I took the first opportunity that came to me because I was like, I just need to get out of this situation,”

Supermarket giant Sainsbury’s has said it plans to close two Argos depots in a move that will impact 1,400 jobs. It is expected to take place over the next three years as part of a wider shake-up of its general merchandise operations across the group that would see its major warehouses cut from five to

UK grocery inflation continued to climb during February to reach a new record high of 17.1%, according to closely-watched industry data. Kantar Worldpanel reported that the increase over the past 12 months meant that families faced a potential £811 annual rise in the cost of their regular shopping basket. It had been hoped that a

The energy regulator has reduced the cap on the amount energy companies can charge customers but bills are still expected to increase. Ofgem has today announced the cap on the amount typical households pay on electricity and gas bills will drop to £3,280 from 1 April. It’s a decrease from the previous cap of £4,279

Britain’s economy could fall behind that of Poland by the end of the decade, the Labour Party will say today. The party’s leader Sir Keir Starmer will use the forecast – which is based on World Bank data – to appeal for voter support in the next general election. Labour’s calculations are based on the