Business

Customers will receive £114m off their water bills next year as the regulator has said water companies fell short of standards. The majority of water and wastewater companies in England and Wales underperformed, Ofwat said as part of its water company performance report. As a result, all but five of the 17 utility providers will

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

Former Tory prime ministers have warned Rishi Sunak about “delivering a mutilated HS2” after his government refused to deny it was considering axing part of the project. Boris Johnson said suggestions the Birmingham to Manchester route could be cut over cost concerns were “desperate” and “Treasury-driven nonsense”. He went on to urge the prime minister

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)

Wilko will close the last of its remaining high street stores next month. The collapsed homeware retailer’s final 111 sites will shut on three dates in early October. Most sites have already closed, with the latest wave closing for good yesterday. More than 10,000 jobs are expected be lost as a result of Wilko’s collapse.

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

Rupert Murdoch is stepping down as chair of Fox and News Corp. His son Lachlan will become the sole chair of News Corp – and continue as executive chair and CEO of Fox Corporation. In an announcement, Lachlan congratulated his father on a “remarkable 70-year career” – and said the 92-year-old will continue to provide

The Bank of England’s interest rate decision is on a knife edge, with the regulator considered as likely to make borrowing more expensive today as it is to maintain the current rate. The odds of a hike versus holding rates are nearly 50-50 – with money markets betting on a 46% chance that the base

Amid the gale raging both literally and figuratively around Downing Street this morning over the government’s green policies, a ray of sunshine has arrived from an unexpected source – inflation. Experts had predicted the figure for August would tick up to 7.1% from 6.8% in July – but instead, the ONS revealed it had actually

Millions of households across the UK will receive £300 from the government between 31 October and 19 November. It is the second of three cost of living payments – totalling £900 – being sent directly from the Department for Work and Pensions (DWP). Eligible pensioner households will also receive a further £300 payment later this

The CBI, the ailing business group, has acknowledged its financial travails for the first time as it postponed what was set to be a crucial annual meeting this week. Sky News has seen a message from the CBI to members which admitted it had “experienced some short term cashflow challenges”. It insisted, however, that it

The chancellor has offered an olive branch to the CBI, the stricken business lobbying group, by agreeing to meet its boss for the first time since a sexual misconduct scandal erupted in the spring. Sky News has learnt that Jeremy Hunt has agreed to hold in-person talks with Rain Newton-Smith, the CBI director-general, in the

The government has announced a new fixed sum payment for victims of the Post Office Horizon scandal in an effort to provide quicker compensation. An award of £600,000 is on offer to the 86 postmasters who have had their convictions over turned after faulty Horizon software made it appear they were stealing. Anyone who has

A former governor of the Bank of England has launched a scathing attack on Liz Truss – accusing her government of turning Britain into “Argentina on the Channel”. Mark Carney also said Brexiteers such as the former Conservative leader – who became the shortest-serving prime minister in history when she resigned last year – had

The owner of Waterstones is among a pack of bidders circling The Body Shop after its Brazilian owner hoisted a for sale sign above the cosmetics retailer. Sky News has learnt that Elliott Advisors, the investment firm best-known for its activist campaigns against the boards of some of the world’s biggest companies, tabled an indicative

Mike Ashley, the high street billionaire, is in talks to sell the online clothing label Missguided to Shein, the giant Chinese online fashion player. Sky News has learnt that the two sides are in detailed negotiations about a deal, which would represent Shein’s first acquisition of a British fashion brand. City sources said that Shein