Business

Pay growth has only kept up with inflation in one industry, official figures show. According to data from the Office of National Statistics (ONS), regular wages – wages excluding bonuses – have only risen as fast as prices in the professional and scientific industry. Jobs in the sector include legal services, management, engineering and scientific

Bikes and car parts retailer Halfords has announced it is to recruit 1,000 car repair technicians over the next 12 months. The company is hoping to attract retirees back into the workforce and to increase the number of women in the technical roles, as competition for workers caused problems. “A competitive labour market has led

A fresh round of rail strikes in the run-up to Christmas and in the New Year have been announced. Workers are to stage a series of 48-hour strikes in December and January in the long-running dispute over pay, jobs and conditions, the Rail, Maritime and Transport Workers (RMT) union said. Over 40,000 members across Network

The UK economy is to suffer the biggest hit of all the G7 nations next year, a report has forecast. The economy is to contract more than any of the other six countries that form the group of the world’s largest industrialised democracies, according to forecasts from the Organisation for Economic Cooperation and Development (OECD).

Shell will review £25bn of investments in British projects after the chancellor extended the windfall tax on energy companies, its UK chairman has told Sky News. David Bunch said the oil giant would re-examine each of its projects on a “case-by-case basis” after Jeremy Hunt increased the levy on “excess” oil and gas profits from

UK firms should be “looking to the British workforce” rather than relying on immigrants to fill jobs post-Brexit, a minister has said. At its annual conference, the director general of the Confederation of British Industry (CBI), Tony Danker, called on the government to use immigration to solve worker shortages in the UK, saying it must

A venture capital fund backed by the advertising mogul Sir Martin Sorrell will this week unveil its first public investment in a US digital asset management platform. Sky News understands that S4S Ventures, which was set up this year by Sir Martin and Stanhope Capital Group, are jointly leading a $10m Series B fundraising by

Climate change activists have occupied Gordon Ramsay’s three-star Michelin restaurant in London. Members of Animal Rebellion entered Restaurant Gordon Ramsay on Hospital Road, Chelsea, at around 6pm on Saturday. Wearing smart casual clothing, they sat at tables reserved for guests of the high-end restaurant. They held mock menus outlining the environmental costs of items served

A multimillion-pound payout to Jacob Rees-Mogg, the former business secretary, is in jeopardy amid faltering talks about a sale of the asset management business he cofounded. Sky News has learnt that negotiations between Somerset Capital Management, in which Mr Rees-Mogg is a substantial shareholder, and prospective buyer Emso Asset Management have stalled in recent weeks.

Elon Musk has posted a poll on Twitter asking users to vote on whether former US President Donald Trump, who was banned from the social media site by its previous owners, should be reinstated. The Twitter boss accompanied it with the words: “Vox Populi, Vox Dei” – a Latin phrase meaning “the voice of the

Brexit, slashing investment and Liz Truss’s mini-budget are among the “own goals” that have led to the UK’s dire financial straits, according to a top economist. Paul Johnson, the director of the Institute for Fiscal Studies (IFS), has been speaking about what left the UK in a position where yesterday’s autumn statement – that will

Twitter has temporarily closed its offices as more staff exodus the troubled social media giant, sparking warnings about the site’s ability to stay online during the World Cup. The move by the company to shut its doors until Monday was apparently triggered by fears that departing employees could “sabotage” the firm. The latest turmoil comes

Why energy shares didn’t suffer in response to windfall tax expansion Ian King Business presenter @iankingsky During recent days there have been suggestions in the stock market that investors were being too pessimistic about the windfall taxes likely to be lumped on electricity generators. Happily, for shareholders of those companies, that has proved to be

Jeremy Hunt will promise to weather an economic “storm” by raising taxes, cutting public spending and scaling back energy support to fill a £54bn black hole in the nation’s finances. The chancellor will insist to MPs on Thursday that his autumn statement puts the UK on a “balanced path to stability” as he tackles the

A Chinese-owned tech company has been told to sell the majority of its stake in a UK silicon chip factory due to security concerns. The government has said Nexperia must reduce its stake in Newport Wafer Fab by 86%, back to its previous holding of just 14% when it took over the firm in 2021,

The sharp rise in inflation is a bill that’s been in the post for the British economy since the spring. It’s finally landed on the national doormat, but the fact we knew it was coming will not make it any easier to pay. The chief driver of CPI reaching 11.1%, a one percentage point leap

The Chinese owner of Thomas Cook is exploring the sale of a stake in the famous British holiday brand three years after its ignominious collapse. Sky News has learned that Fosun Tourism Group is examining options including raising capital from an outside investor in the coming months. Industry sources said on Tuesday that Fosun was

Wage growth picked up by more than expected over the three months to September, according to official figures also showing a rise in the jobless rate. The Office for National Statistics (ONS) said average weekly earnings, excluding bonus payments, rose at an annual rate of 5.7% during the three months to September as more workers

The Bank of England Governor has denied having any part in the downfall of Liz Truss. In an interview with Sky News, Andrew Bailey said that he “vehemently disagrees” with allegations that the Bank‘s actions precipitated the departure of the former prime minister. It followed claims from Narayana Kocherlakota, the former president of America’s Federal

The parent firm of fashion retailer Joules and The Garden Trading Company is on the brink of collapse after a failure to secure new investment, it has been announced. Joules Group, which has around 1,600 staff, revealed it was to file a notice of intention to appoint administrators and had requested the suspension of trading