Business

The extraordinary, unprecedented and largely unexplained flows of millions of pounds of British luxury cars into states neighbouring Russia continued in February, according to new official data. Some £26m worth of British cars were exported to Azerbaijan in February, according to data from HM Revenue & Customs. The numbers show that in the latest quarter

A former top Post Office executive has told the inquiry into the Horizon scandal that she never “knowingly” did anything wrong. Angela van den Bogerd, who held various roles over 35 years at the organisation, made the comment after opening her evidence on Thursday by saying she was “truly, truly sorry” for the “devastation” caused

Labour will promise to deliver the biggest shake-up to rail “in a generation” by establishing the long-delayed Great British Railways (GBR) organisation and bringing routes back into public ownership. Making the announcement in a speech on Thursday, shadow transport secretary Louise Haigh will also pledge to establish a “best-price ticket guarantee” for travellers, offer automatic

Shipping traffic through the vital Suez Canal artery has plunged by 66% since cargo was forced to divert due to attacks on vessels, according to official figures. The data, from the UK’s Office for National Statistics (ONS), covered the period from mid-December to the beginning of April. It is important as it represents the scale

The post office scandal extends “greatly beyond” faulty Horizon software, according to a lawyer for victims. Paul Marshall, representing former sub-postmasters, says problems with third party systems in branches, such as ATMs, have been “overlooked”. A 2013 report commissioned by the Post Office, and not made public at the time, states: “Removing the ATM reduces

A former HR director at the Post Office, whose misconduct claims against chief executive Nick Read were dismissed following an internal investigation, has written to MPs in a bid to plead her case. Jane Davies, who was in post for seven months from December 2022 until she was dismissed, claimed Mr Read led a “deliberate

Doubts have been raised over the government’s ability to unveil tax cuts ahead of the next general election after official figures revealed borrowing was higher than expected in the past year. The Treasury borrowed £120.7bn in the financial year ending March 2024 – down £7.6bn from the year before, according to provisional estimates from the

The FTSE 100 has ended a long wait to achieve a new record high. The index, which comprises the 100 most valuable companies on the London Stock Exchange, closed Monday’s session on 8,023 points following a jump of 128 points or 1.6%. That was the highest closing sum since February last year when the 8,000

The UK’s biggest water company has put forward an investment offer that could increase customer bills even more than the 40% rise it already requested. Thames Water, which serves 16 million customers in the south of England, has proposed increasing spending by £1.1bn and revealed another potential £1.9bn investment in its network as part of

A pack of private equity investors have left the starting grid in a race to buy TeamSport, the pan-European go-karting operator. Sky News has learnt that several buyout firms have tabled initial offers for the company, which is expected to fetch more than £150m. Insiders said on Sunday that EMK Capital and Livingbridge were among

Liz Truss has acknowledged she and her government lost the confidence of financial markets following the mini-budget of October 2022 – but has refused to apologise to homeowners for higher interest rates. Talking to Sky News, the former prime minister blamed her downfall on the Bank of England, primarily governor Andrew Bailey. However, she said

The private equity titan Blackstone is this weekend drawing up plans for a £1.2bn takeover bid for the owner of songs performed by Blondie, the Kaiser Chiefs and the Red Hot Chili Peppers. Sky News can exclusively reveal that Blackstone has already tabled several offers to buy Hipgnosis Songs Fund (HSF), the London-listed music rights

Bitcoin’s rare halving event has taken place, according to crypto analysis firm CoinGecko. It slashes the number of new Bitcoin entering the market by cutting the rewards earned by Bitcoin miners by 50%. Taking place roughly every four years, it’s designed to cap supply at 21 million by 2140. It means just 450 Bitcoin will

Getir, the grocery delivery app once valued at nearly $12bn (£9.7bn), is close to pulling the plug on its operations in Britain in a move that would spark concerns for well over 1,000 jobs. Sky News has learnt that Getir is preparing to announce next week that it is withdrawing from the three remaining European

There was a worse than expected performance for retail sales last month, defying predictions of a consumer-led pick up from recession for the UK economy. The Office for National Statistics (ONS) reported sales volumes were flat in March, following an upwardly revised figure of 0.1% for the previous month. It said sales at non-food stores

Ministers are to kick off a search for the inaugural chair of the new football watchdog, even as it faces growing hints of opposition to its establishment from the Premier League. Sky News has learnt that the Department for Culture, Media and Sport (DCMS) will launch the appointment process for the role at the Independent

Crisis-hit Boeing has rushed to defend itself from fresh whistleblower allegations of poor practice, as the airline continues to grapple its latest safety crisis. A Congressional investigation heard evidence on Wednesday on the safety culture and manufacturing standards at the company – rocked in January by a mid-air scare that saw an Alaska Airlines 737

The government has agreed to have an independent expert review of a Post Office IT system predating Horizon, amid claims dozens more sub-postmasters may have been wrongly convicted. The Capture software was rolled out across branches in the 1990s, years before the notorious Horizon system was introduced. Post Office minister Kevin Hollinrake has met with

The governor of the Bank of England has signalled the UK is still on course for an interest rate cut as official figures show a further easing in the pace of price growth in the economy. Andrew Bailey was speaking hours before the Office for National Statistics (ONS) revealed that the consumer prices index (CPI)

In the circumstances, the numbers could hardly look much better. A year or two ago, the conventional wisdom was that America was facing a terrific recession. Instead, according to the latest data from the International Monetary Fund, the US has outperformed pretty much every other major economy in the world (including China). In its latest