Business

Elon Musk, the multi-billionaire owner of Tesla and X, is suing artificial intelligence company OpenAI, accusing the firm of prioritising profit over developing AI for the public good. Mr Musk is bringing the suit against OpenAI, which he co-founded, and its chief executive, Sam Altman, for breaching a contract by reneging on its pledge to

The UK car industry has pleaded with the chancellor to help get the transition to electric vehicles (EVs) back on track when he delivers his budget next week, accusing the government of creating an own goal. The Society for Motor Manufacturers and Traders (SMMT) said it was clear that the decision to delay the ban

Post Office Limited (POL) “intended to pervert the course of justice” by relying on knowingly flawed cash accounts, an inquiry submission filed today alleged. Sir Edward Henry KC, who represents former sub-postmasters Lee Castleton and Seema Misra, among others, in the Post Office scandal, made the remarks in a closing statement for the Horizon inquiry.

The Home Office immigration system statistics for 2023 tell a different story to the one that dominates the political discourse. While government commentary and policy has focused on illegal migration via small boats, the largest driver of rising immigration is people coming to work, primarily in a health and care sector that would not function

Vape ads across social media platforms “need to stop” and advertisers pleading ignorance is not an excuse, the advertising regulator has warned. The Committee of Advertising Practice (CAP) – which regulates non-broadcast adverts – launched a crackdown on e-cigarette advertisers, warning the law prohibits them from marketing vapes containing nicotine that are not licensed as

Labour will inherit the worst economic situation of any incoming government since the Second World War, Rachel Reeves warned today, accusing the Conservative Party of “burning the house down” during its time in government. Talking in the run-up to next week’s budget, the shadow chancellor said that while George Osborne had promised to “fix the

MPs have raised concerns over the treatment of small businesses by major banks after figures showed more than 140,000 accounts were shut down by lenders over the past year. As part of an inquiry into access to finance, the Treasury Committee gathered information from eight banks, including the so-called big four, on how many business

Jeremy Hunt has held talks with the boss of Shein, the Chinese-founded fast fashion giant, in a bid to persuade the company to commit to what would be one of London’s biggest-ever corporate flotations. Sky News can exclusively reveal the chancellor met Donald Tang, Shein’s executive chairman, this month as part of British regulators’ and

The UK will “miss out” on economic growth unless it finally comes up with an industrial strategy to green the economy, the leading business group has warned. As the UK economy has stagnated in recent years, the value of green industries like renewables, eco-friendly heating and energy storage is growing and will help unlock further

The UK has seen a “persistent under delivery” of new homes, according to the competition watchdog which has launched an investigation into eight housebuilders. Too few new homes are being delivered due to a “complex and unpredictable” planning system, the Competition and Markets Authority (CMA) said. Its report into the housebuilding industry also identified “substantial

The prime minister has revealed how some of the money from abandoning the HS2 northern leg will be reallocated. Northern England will get £2.5bn and the Midlands £2.2bn after plans to run the high-speed line to the North were scrapped last year. The cash will go to a “local transport fund” to help towns, rural

A former private secretary to Prince Andrew is playing a key role in the deliberations of a Chinese online retail giant over a possible bid for Currys, the high street electrical goods chain. Sky News has learnt that Amanda Thirsk, who quit as the Duke of York’s private secretary nearly four years ago, is working

Next has approached administrators to The Body Shop about a potential deal to purchase parts of the stricken cosmetics chain. Sky News has learnt that executives from the UK fashion retailing giant have contacted FRP Advisory to express an interest in acquiring assets as part of any sale process it decides to launch. There were

The worst airlines for customer satisfaction have been revealed The UK’s flag carrier airline, British Airways, ranked among the worst airlines in the survey. BA’s customer score for long-haul flights was the joint third lowest out of 17 carriers analysed by Which?, at 59%. The airline received just two stars out of five for boarding

Paula Vennells, the former chief executive of the Post Office, has had her CBE formally stripped from her by the King for “bringing the honours system into disrepute”. Ms Vennells received the honour in 2019 but was widely criticised amid the fallout from the Post Office scandal. She had previously said she would give up

The energy price cap is to fall by £20 a month, the industry regulator has announced, but households are to face an additional “temporary” charge to help suppliers support struggling customers with record levels of debt. Ofgem confirmed a 12% price cap reduction will take effect from 1 April, taking the annual energy bill for

Details of legislation to exonerate sub-postmasters who were wronged in the Horizon scandal have been set out by the government. Between 1999 and 2015, more than 700 Post Office managers were prosecuted after faulty accounting software provided by Fujitsu made it seem like money was missing from their branches in the UK. Prime Minister Rishi

Overturning the convictions of guilty sub-postmasters to exonerate all those unfairly prosecuted due to the Horizon scandal is a “price worth paying”, according to the government. Under new legislation, the government says it will “quash all convictions which are identified as being in scope”. The Post Office minister says that possibly exonerating people guilty of

British companies are exporting hundreds of millions of pounds of equipment and machinery which almost certainly ends up in Russia, undermining the official sanctions regime and bolstering Vladimir Putin’s war machine, according to data analysis from Sky News. The items – which include drone equipment, optical supplies and heavy machinery – are being sent to

The owner of Brentford, the Premier League football club, has engaged advisers to canvas offers of investment that could value one of the sport’s biggest recent success stories at more than £400m. Sky News has learnt that Matthew Benham, who initially invested in the Bees in 2007, has hired Rothschild to oversee a process that