Business

A review of Royal Mail’s letter delivery obligations that could see Saturday post scrapped is “predetermined”, according to an industry union leader. Communication Workers’ Union (CWU) general secretary Dave Ward was reacting to a story by Sky News on Saturday that regulator Ofcom was to launch a consultation on options for reforming the Universal Service

Compass Group, the FTSE-100 contract caterer, is in advanced talks to take over a rival business which provides hospitality services at landmark venues including Kew Gardens and the Royal Opera House. Sky News has learnt that Compass is this weekend putting the finishing touches to a deal worth more than £400m to acquire CH&Co, a

Ofcom will next week outline options for reforming Royal Mail’s service obligations that could pave the way for the abolition of Saturday postal deliveries amid warnings from the company’s boss that it may require a government subsidy to survive. Sky News has learnt that the regulator will on Wednesday publish a consultation paper on the

Mouthwash, teabags and sausages have all fallen victim to “shrinkflation” as manufacturers and retailers cut costs, a watchdog has found. Which? found that Listerine Fresh Burst mouthwash shrank from 600ml to 500ml but went up in price by 52p at Tesco, forcing shoppers to pay 21% more for 17% less – an increase to the

The Post Office board member responsible for overseeing the delivery of a controversial compensation scheme for sub-postmasters is to step down from its board. Sky News has learnt that Ben Tidswell, a former lawyer with the international law firm Ashurst who became a director of the Post Office in July 2021, is leaving after only

The boss of Fujitsu in Europe has admitted staff knew of bugs, errors and defects (BEDS) in the Horizon IT system as far back as 1999. Appearing before the inquiry into the Post Office scandal, Paul Patterson said it was “shameful and appalling” that the known glitches were not included in the witness statements used

There has been a shock fall in retail sales in the key December shopping period, sharpening the decline seen in recent months, official figures show. Data from the Office for National Statistics (ONS) said sales fell an unexpected 3.2%, despite Christmas and reported discounts offered by major chains and some positive reports by major high

The chancellor says he wants to cut taxes at the spring budget this year, declaring that doing so will be the quickest route to getting the economy growing again. Talking to Sky News on the fringes of the World Economic Forum in Davos, Jeremy Hunt said that while he has yet to see the fiscal

Kemi Badenoch, the business secretary, is seeking urgent talks with Fujitsu to thrash out a compensation package for sub-postmasters affected by the Post Office Horizon scandal. Sky News has learnt that Ms Badenoch wrote to Takahito Tokita, the Japanese company’s chief executive, in the wake of an acknowledgement from Fujitsu bosses that it had a

It will be at least two years until any criminal charges are brought over the Post Office scandal, Britain’s most senior police officer has said. Metropolitan Police Commissioner Sir Mark Rowley has warned detectives will have to read “tens of millions of documents” to decide whether laws have been broken, and that will probably take

Directors of BP were meeting on Tuesday evening to finalise the appointment of Murray Auchincloss, the company’s acting chief executive, as its permanent boss. Sky News can reveal that the FTSE-100 oil major’s board has gathered at a central London hotel to agree the details of Mr Auchincloss’s appointment as the successor to Bernard Looney.

Wage growth has slowed but still remains well above the rate of inflation while unemployment is unchanged, according to official figures. Average weekly wage growth, which excludes bonuses, eased to 6.6% in the three months to November, from 7.3% a month earlier, the Office for National Statistics said. It means pay packets grew faster than

Average house prices have jumped by about £4,500 this month – but experts are still predicting that 2024 will be a “smoother year” for buyers. According to Rightmove, the typical asking price for a British property now stands at £359,748, which is 0.7% lower compared with a year ago. The number of new houses coming

New strikes have been announced by the train drivers’ union ASLEF. Drivers will stage fresh industrial action and an overtime ban from the end of the month in a long-running pay dispute, the union said. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the

Plans for a new government information campaign to tackle the explosion in online fraud have sparked divisions among major banks over concerns about its cost and potentially conflicting public messages. Sky News has learnt that the Home Office has in recent weeks been in discussions with major lenders including Barclays, Lloyds Banking Group and Santander

Vue International, Europe’s largest independent cinema operator, is finalising a fresh debt restructuring after the Hollywood actors’ strike halted the release of a string of blockbuster movies. Sky News has learnt that UK-based Vue, its shareholders and lenders are in the process of organising the company’s second debt-for-equity swap in 18 months in a bid

What lies 1,000 metres beneath the North Sea could help the climate of the atmosphere above. And I’m on my way down to see it. The rattly lift drops at 10 metres per second, the speed of a sprinter, ruffling the air and flapping my shorts as it plunges down. Yes shorts. I wear a

US flight safety regulators are to intensify their scrutiny of Boeing in the wake of the mid-air panel blowout a week ago aboard one of the company’s planes. The announcement was made by a top Federal Aviation Administration (FAA) official who is working on the investigation into the scare aboard the Alaska Airlines flight on

Shipping costs have risen by more than 300% since November amid the disruption caused to freight in the Red Sea from attacks, according to fresh data. Just hours after US and UK-led attacks on Yemen aimed at preventing renewed assaults on shipping by Iran-aligned Houthi rebels, it was revealed that freight prices continued to rise

The UK economy returned to growth in November, according to official figures that are being closely watched amid fears the prospect of recession remains on a knife edge. The Office for National Statistics (ONS) reported output growth of 0.3% for the month – recovering from a 0.3% decline witnessed in October when many weather-sensitive sectors