Business

Major banks face being fined if they fail to provide free access to cash withdrawals within three miles of consumers and businesses under new rules to be set out by ministers. Sky News has learnt that the Treasury is to publish guidelines within days setting out expectations for banks’ future provision of cash deposit and

Jamie Oliver and his wife Jools have paid themselves £6.8m in dividends after his firms’ total profits rose by almost a fifth. The Jamie Oliver Group said earnings were boosted by the celebrity chef’s TV series Jamie’s £1 Wonders, which Channel 4 launched in response to the cost of living crisis. An average of 1.4

There are “genuine grounds for hope” for the future of high street retailer Wilko, according to the GMB union, after the company entered administration, endangering 12,500 jobs. The union met with administrators PwC as part of the formal consultation process and confirmed there had been “expressions of interest” from prospective buyers. Those potential purchasers are

The rate of price rises has fallen sharply, according to official figures. The key, consumer price index (CPI) measure of inflation fell to 6.8% in the year to July, down from a rate of 7.9% in June, Office of National Statistics (ONS) data showed. It means prices are still rising but at a slower rate

A man who famously made a fortune by predicting the collapse of the US housing market in 2008 now appears to be suggesting that two major stock markets will tumble in value. Michael Burry, the hedge fund boss featured in The Big Short, in which he was played by Christian Bale, held negative options on

Private sector wages and total pay, including bonuses, surpassed inflation despite a surprise rise in the rate of UK unemployment. Economists thought the unemployment rate would remain at the 4% level recorded last month but it has now gone up to 4.2%. Wages have also risen again with private sector wage growth increasing to 8.2%

DIY retailer B&Q has apologised after two books titled “White Supremacy” were included in a product listing photograph on its website. The books featured in a listing for a wooden radiator cover. B&Q has apologised and said the product was offered by a third-party seller which it has now suspended. The DIY retailer has also

Bidders for the ailing retailer Wilko have been given until Wednesday to table offers for the company after its collapse into insolvency last week. Sky News has learnt that PricewaterhouseCoopers (PwC), which was appointed as administrator on Thursday, is seeking offers by the middle of this week as Wilko faces running out of cash. A

Pubs in England and Wales will be allowed to continue serving takeaway pints after the government decided to keep COVID licensing rules. Pubs were given permission to serve customers through hatches when they were forced to close during lockdown restrictions in 2020. Those rules were due to expire at the end of next month, but

The owner of the Daily Mail is in talks with prospective backers of a bid for The Daily Telegraph  - a deal that would underline its proprietor’s status among the most powerful figures in British media. Sky News has learned that Lord Rothermere, chairman of both DMGT and its consumer division dmg media, is courting

A British-based company which boasted that it would be a global pioneer in electric vehicle manufacturing is working with advisers to prepare for possible insolvency. Sky News has learnt that Arrival, which is listed on New York’s Nasdaq stock exchange, has drafted in Alvarez & Marsal (A&M) to advise it as it tries to salvage

The Premier League is targeting a financial agreement with its lower league counterparts within weeks as English football seeks to head off political criticism over the distribution of money through the sport. Sky News has learnt that the Premier League told its 20 ‘shareholders’ on Thursday that it now hoped to reach a swift conclusion

GDP exceeded modest expectations in June and for the second quarter as a whole, but perhaps the best that can be said of the economy at the halfway point in the year is that things could be worse. That was certainly the chancellor’s response to monthly growth of 0.5% and a three-month figure of 0.2%.

The UK economy grew slightly in the three months to June, according to official estimates. Gross domestic product (GDP) increased by 0.2% in the second quarter of the year, the Office for National Statistics (ONS) said. In June alone it rose 0.5%. It comes after a rate of 0.1% was recorded in the first quarter,

Discount retailer Wilko has failed despite catering to precisely the sort of cost-conscious, value driven consumer whose number has been swelled by the cost-of-living squeeze. While direct competitors B&M, Home Bargains and Poundland, as well as limited-range supermarkets Lidl and Aldi have thrived, its 400 stores and 12,500 jobs are now under threat. Founded 93

Wilko has gone into administration – putting 12,000 jobs at risk. It comes after Sky News revealed earlier on Thursday the retail chain was only hours away from insolvency. In a statement, CEO Mark Jackson said: “We’ve all fought hard to keep this incredible business intact but must concede that time has run out and

Unite has warned holidaymakers they face “severe disruption” at Gatwick Airport this month after ground staff announced a new series of strikes. More than 230 workers, who work for two contracted firms at the London site, will walk out on multiple dates later in August because of a dispute over pay, the union said. Unite

Six English water companies are facing legal action over allegations they under-reported pollution discharges and overcharged customers as a result. Professor Carolyn Roberts, an environmental and water consultant, said she is planning to bring a string of cases to the Competition Appeal Tribunal in a bid to secure more than £800m compensation on behalf of

A specialist investor in struggling retailers is exploring a bid to rescue Wilko, the ailing family-owned chain which is teetering on the brink of collapse. Sky News has learnt that Gordon Brothers, which has backed British high street names including Laura Ashley, is in talks with Wilko’s advisers about structuring a potential deal. Sources said

One of Britain’s biggest housebuilders is planning widespread redundancies and the closure of two regional divisions as it battles a slump in demand from new buyers. Bellway is consulting on the proposals, which would involve the closure of its London partnerships and South Midlands divisions. The move could see 90 employees from the company’s 3,000-strong