Business

Tesla has recalled almost 700,000 of its electric vehicles because of an issue with the warning light on the tyre pressure monitoring system. Its warning light may not remain illuminated between drive cycles, failing to warn the driver of low tyre pressure and increasing the risk of a crash, the manufacturer said. The issue affects

The UK’s retail sales recovery was smaller than expected in the key Christmas shopping month of November, official figures show. Retail sales rose just 0.2% last month despite discounting events in the run-up to Black Friday. It followed a 0.7% fall seen in October, according to data from the Office for National Statistics (ONS). Sales

Very few will be surprised by the Bank of England’s decision to keep rates on hold at 4.75%. What is more striking is the policy rift that has emerged. Three members of the rate-setting committee voted to cut rates while the other six opted to keep them as they are. It reflects some of the

The Bank of England has maintained its guidance for “gradual” interest rate cuts next year, following surprise support for a reduction this month. Its rate-setting committee, while deciding to keep Bank rate on hold at 4.75%, noted higher than expected wage rises and inflation despite a slowdown in the economy over the second half of

The US central bank has announced an interest rate cut, just hours before the Bank of England is tipped to refrain from following suit. The Federal Reserve cut its main funding rate by a quarter point to a new target range of 4.25%-4.5%, as markets had expected, but signalled that future reductions would happen more

English rent prices have reached another record high, growing by close to 10% in the past year, official figures show. The typical private rental price in England rose 9.3% in the year up to November, costing £116 more than 12 months earlier, according to the Office for National Statistics (ONS). English renters paid an average

Drinks company Thatchers has launched a bid to overturn a High Court ruling that denied its claims Aldi “copycatted” its cider. The Somerset-based cider maker sued the German discount chain for allegedly infringing the trademark of its cloudy lemon cider. It argued Aldi’s Taurus brand had copied its product. However, in January the High Court in

The government will offer compensation to Post Office Capture victims – while refusing to rule out blanket exoneration for those convicted. In an exclusive interview with Sky News, Post Office minister Gareth Thomas said his department is “working at pace” and is committed to providing redress as quickly as possible. Capture accounting software, which predates

The Royal Mail group is on its way to passing into foreign ownership, but the state will keep a “golden share” in the company. It means the government will have to approve any key changes to Royal Mail’s ownership, the location of its headquarters and tax residency. This is something the government does with companies

The sale of Royal Mail to Czech billionaire Daniel Kretinsky will be approved this morning, Sky News understands. Mr Kretinsky‘s company EP Group will buy the postal service’s parent company International Distribution Services (IDS). The £5.3bn takeover deal had been agreed in May but was subject to a review under national security laws as Royal

UK-based partners at Grant Thornton, the accountancy firm, have voted to back the sale of a majority stake to Cinven, the private equity firm. Sky News has learnt that GTUK’s partnership voted unanimously to support the deal, in a move expected to be announced internally as early as Monday. Support for the deal had been

NatWest Group is to hand its chief executive a potential multimillion pound pay boost as it returns to full private ownership after nearly 17 years in state hands. Sky News has learnt that the chair of the bank’s remuneration committee, Lena Wilson, is consulting leading institutional shareholders about an overhaul of its boardroom pay policy.

The prime minister and chancellor were in lockstep as they reacted to Friday morning’s GDP figures. “Disappointing”, the PM’s spokesperson said, echoing Rachel Reeves’s words two hours earlier. The UK economy shrunk for a second month, contracting 0.1% in October. Money blog: latest updates Please use Chrome browser for a more accessible video player 2:10

The private equity firm circling Boots the Chemist’s parent company is lining up financing from a syndicate of banks for a prospective $10bn-plus takeover deal. Sky News has learnt that Sycamore Partners is arranging debt funding for a deal to buy Walgreens Boots Alliance, with Bank of America, JP Morgan and Wells Fargo among those

Tube and rail fares in London will go up by 4.6% from next March, the capital’s mayor has said. The hike matches the rise in regulated train fares for England’s mainline railway. From 2 March, Transport for London’s (TfL) daily caps will increase by 40p-70p, depending on what zones are travelled through. Labour mayor Sadiq

A certified B Corporation company which repurposes electronic equipment to benefit schools and charities has landed more than £3m in funding from a leading start-up investment group. Sky News understands that Reconome, which partners with major companies including Netflix and O2, has secured the new money from IW Capital, an investment firm specialising in growth

Royal Mail has been fined £10.5m for missing postal delivery targets. Regulator Ofcom said 74.7% of first class mail and 92.7% of second class was delivered on time in 2023/24. The targets were 93% and 98.5%. A “challenging financial position” was blamed by the company for its poor performance, the regulator said. There were also

The economy remained in a reverse gear during October, according to official figures covering the month ahead of the government’s first budget. The Office for National Statistics (ONS) said output fell 0.1% following the 0.1% decline recorded for the previous month. The figures showed zero growth in the powerhouse services sector, with manufacturing and construction

It might be tempting, given how much coverage has focused on it recently, to assume the forthcoming changes to inheritance tax regime are the single biggest issue facing farmers these days.  But the reality is these tax changes come at a moment of extraordinary pressure, with farmers having to contend with a swathe of unsettling

Plans to “green” the UK’s power system will protect consumers from future energy crises and has the potential to “bring down bills for good”, the government has said. Achieving clean electricity by 2030 was a key election promise for the Labour party, and reiterated by Keir Starmer last week as he outlined government ‘milestones’. To