Business

Two tech giants are battling it out for the title of the world’s most valuable company. Microsoft had overtaken Apple for the first time since 2021 to become the world’s most valuable firm by market capitalisation – which measures the value and number of a company’s shares. Money latest:‘Huge announcement’ on car finance could see

The boss of Ryanair has complained of “minor issues” with new aircraft delivered by Boeing as the US plane manufacturer battles to contain the fallout from its latest safety scare. Michael O’Leary had used an interview with the Financial Times earlier this week to raise concerns about quality control at the US firm in the

An ex-Centrica executive will this week be appointed the new chair of the independent trade body which advises the government on the imposition of tariffs. Sky News understands that Nick Baird, who also ran UK Trade and Investment, Britain’s former trade promotion body, is to be the next chairman of the Trade Remedies Authority (TRA).

Danone will reduce the price it sells Aptamil baby formula to retailers by up to 7% from Monday – after manufacturers were criticised for “exploiting” British families. It comes seven months after Sky News revealed the desperate measures families have been taking to feed their babies because of the high prices of formula milk in

On today’s episode, Ian King speaks to John Grant, chief analyst at the aviation analytics firm OAG, about problems mounting for Boeing, as its 737-9 MAX jets continue to be inspected. Plus, hear from YouGov boss Steve Hatch about the firm’s latest acquisition. And global cloud enterprise software company, IFS, has a new chief executive

Jeremy Hunt held talks with some of the City’s top business leaders on Tuesday in a bid to inject fresh momentum into London’s flagging market for new company listings. Sky News understands the chief executives of asset managers Abrdn and Schroders and their counterpart at HSBC Holdings were among those scheduled to attend a breakfast

Barclays is in the process of removing 5,000 roles from its global workforce in recent months as part of a renewed push by executives to slash costs and improve the bank’s profitability. Sky News has learnt that a total of roughly 5,000 jobs were shed from the British bank’s 84,000-strong ranks during 2023, with about

The energy regulator has warned suppliers over their conduct as a temporary ban on the forced installation of prepayment meters ends. Ofgem said on Monday that it was allowing EDF, Octopus and Scottish Power to resume “involuntary” ‘Pay as you Go’ meter installations. That was because the three firms had met conditions to restart the

The owners of SoundCloud, one of the world’s largest music streaming services, are preparing for a sale that could fetch in excess of $1bn. Sky News has learnt that Raine Group and Temasek Holdings, the Singaporean state investment fund, have begun interviewing investment banks about a prospective auction of the company. Founded in 2007, SoundCloud

Dramatic footage shows the moments after a window and chunk of fuselage blew out of a passenger plane in mid-air, leaving a gaping hole in the side of the Boeing 737-9 MAX.  One Alaska Airlines passenger on the affected flight said a boy and his mother were sitting in the same row as the damage

Some of BP’s largest shareholders have urged it to approach Charles Woodburn, the BAE Systems chief executive, about becoming the FTSE-100 oil behemoth’s next boss. Sky News has learnt that several large investors believe that BP should target the appointment of an external candidate as its CEO for the first time in its 114-year history.

The chairman of NatWest bank has come under fire after he claimed it is not “that difficult” for people to get on the property ladder in the UK. Sir Howard Davies said that while some found it hard to “start the process”, aspiring homeowners “have to save and that is the way it always used

The chief executive of McDonald’s has revealed the company has suffered a “meaningful business impact” following controversy surrounding the Israel-Hamas war. Chris Kempczinski said the fast-food giant had been negatively affected in both Middle Eastern markets and “some outside the region” following calls for a boycott of the chain. It comes after a row in

One of the largest supermarket chains in France is refusing to sell PepsiCo products on the grounds they have become too expensive to stock. A spokesperson for Carrefour said the move would apply to its 9,000+ store network across France, Spain, Italy and Belgium. The chain said it had deployed signs in-store that blamed “unacceptable

Next has raised its profit forecast for the fifth time in less than a year after reporting better-than-expected sales in the run-up to Christmas. The high street retailer said full-price sales were up 5.7% in the nine weeks to 30 December compared to last year. The figure, revealed in a trading update from the firm

Parachuted in to turn around a failing giant of the British high street, Robert McDonald was part of Woolworths’s last roll of the dice. The new finance director said he was excited to join an “iconic” brand when he began work in early November 2008, but just three weeks later the company would sink into

Price cuts to lure shoppers helped supermarkets rake in record revenues ahead of Christmas, according to industry data. Kantar Wordpanel, which tracks sales and prices among chains, said £13.7bn passed through tills or via websites over the four weeks to 24 December. It took average household grocery spending to an all-time high of £477 across

A string of banks and building societies are likely to follow the UK’s largest lender in cutting mortgage rates in the coming weeks, experts have said. It comes after Halifax reduced its rates by up to 0.83% on Tuesday, including a two-year deal of 4.68% with a £999 fee. Lloyds Banking Group, which owns Halifax,

Two of the world’s largest container ship operators have extended diversions from the Red Sea following an attack on a vessel at the weekend that has been blamed for a renewed oil price volatility. Maersk had suspended, on Sunday, sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou,

More than 230 independent vape shops opened across the UK last year, new figures have revealed. It represents a sharp increase from the 61 new stores which opened in 2022, and a net fall of 23 in 2021, according to a survey of retail areas by the Local Data Company (LDC). The rise comes amid