Business

The iPhone and iPad are both getting a bunch of new features courtesy of a software update today. Apple is releasing iOS 16.1 – adding to the functionality which arrived with the iPhone 14 range last month – and iPadOS 16, which comes ahead of the launch of new tablets this week. Starting with the

Just when you thought it was safe to step back into the gilts market… things are getting nervy again. Around lunchtime on Friday the odds on Boris Johnson winning the Conservative leadership battle rapidly shortened. For a moment, the former prime minister was favourite, on Betfair’s betting markets, to become the next PM. Johnson backed

The country’s biggest supermarket chain has raised the price for its popular lunchtime meal deal for the first time in more than a decade as costs soar. Tesco revealed that the package, typically a sandwich, packet of crisps and a soft drink, would rise from £3.50 to £3.90 for customers who are not Clubcard holders.

The latest official data on the state of the public finances and consumer spending makes for grim reading as the country awaits its next leader. The Office for National Statistics (ONS) reported that public sector net borrowing came in at £20bn last month – £3bn more than economists had expected. The report pointed to a

Almost six in 10 UK adults are struggling to keep up with their bills, according to new research from the City regulator. The Financial Conduct Authority (FCA) estimated that 7.8 million people were struggling to keep up with their bills – an increase of around 2.5 million people since 2020 – when around 5.3 million

The final straw for Liz Truss’s premiership was a collapse of confidence among Conservative MPs, but the underlying cause is an economic crisis she first ignored, then deepened, and will now define her successor’s time in office. The Conservatives are about to discover that they can change leaders but not the economic hole they have

More rail strikes have been announced for 3 and 5 November – this time involving 14 train operating companies. The Rail, Maritime and Transport union (RMT) has announced the strikes at the train operating companies – which run the trains – on the same days as other members of the union are planning walk outs

Two adverts from HSBC publicising its role in the green transition have been banned for omitting information about its own contribution to carbon dioxide and greenhouse gas emissions. The posters, seen on bus stops in Bristol and London in October 2021, showed images of waves crashing on a shore and tree growth rings with the

Netflix subscriber numbers increased by 2.4 million from July to September this year, more than double the number than was expected. The world’s largest streaming service also saw revenue exceed expectations and top $7.9bn, its third quarter results showed. It had been hoping to regain the million subscribers it lost in the first half of

Rail workers’ union RMT has announced more strikes next month following what it said was a pay offer “U-turn” from Network Rail. Three days of strike action are set to take place on 3, 5 and 7 November. Negotiations had been under way between the union and the rail operator. The Railway, Maritime and Transport

The head of Britain’s electricity and gas systems’ operator has told households to prepare for blackouts between 4pm and 7pm on weekdays during “really, really cold” days in January and February if gas imports are reduced. John Pettigrew, the National Grid chief, said blackouts would have to be imposed during the “deepest darkest evenings” in

Jeremy Hunt has revealed he is reversing “almost all” of the tax cuts announced in his predecessor’s mini-budget and is scaling back support for energy bills. In an emergency statement, the chancellor said a 1p cut to income tax will be delayed “indefinitely” until the UK’s finances improve instead of being introduced in April 2023

The pound has edged higher against the dollar in anticipation of a key statement from the new chancellor tasked with sorting out the fallout from the government’s mini-budget. Sterling had fallen to a record low against the dollar at the end of September, after the short-lived then chancellor Kwasi Kwarteng unveiled the biggest programme of

Unions are close to organising co-ordinated strike action “very soon” following the “horror story” of the past few weeks, a union boss has told Sky News. Sharon Graham, general secretary of Unite, accused the government of “aiding and abetting” employers earning millions in profits but not handing that to workers. She confirmed Unite, the UK’s

Interest rates will have to be raised higher than initially hoped in the face of inflationary pressures, the Bank of England (BoE) governor has suggested. Speaking at an International Monetary Fund event in Washington, Andrew Bailey also said there had been “a very clear and immediate meeting of minds” with new Chancellor Jeremy Hunt on

So farewell, then, Trussonomics. The demise of the country’s second shortest-lived chancellor also brings with it the demise of the country’s shortest-lived economic movement. Liz Truss came into office promising to boost the country’s growth rate through a forensic combination of tax cuts, reforms to the country’s supply side (for which read: things like planning

Ministers are in talks with major US-based producers of liquefied natural gas (LNG) in a bid to bolster Britain’s energy security. Sky News has learnt that the government is discussing substantial purchase agreements with companies including Cheniere and Venture Global. Sources said the talks were at a detailed stage although it was possible that they

The financial markets have responded negatively following Liz Truss’s announcement of a U-turn on corporation tax in a bid to reassure investors. As was widely predicted, the prime minister said she was abandoning the government’s commitment to drop the planned tax increase from 19% to 25% – even though it was a central plank of

The Bank of England is set to stop its government bond buying scheme today after attempting to reassure the UK’s financial markets. The Bank launched the unprecedented intervention after the chancellor’s mini-budget caused chaos within the markets, as well as a potential pension pots crisis. It promised to buy up to £65bn in UK government

The head of the International Monetary Fund has delivered a blunt condemnation of the UK government’s mini-budget – pointing out government and Bank of England policies should not be working against each other. Kristalina Georgieva was speaking at a news conference in Washington after the government’s mini-budget unleashed chaos in the markets when it was