Business

App-based lender Atom bank says its four-day working week trial has been a resounding success. The bank, which is based in the northeast of England, said the trial had been “overwhelmingly positive” for employees, improving productivity and job satisfaction. Recruiting and retaining staff was easier, and there was no negative impact on customer service ratings,

Britain imported no fuels from Russia in June for the first time on record following the imposition of sanctions over the invasion of Ukraine, official data shows, The imports of goods form Russia also fell to £33m that month – the lowest level since records began in January 1997, according to the Office for National

UK private sector growth has moved closer to stagnation as it slowed to a new 18-month low, dragged down by a slump in factory output, latest data indicates. The closely watched S&P Global/CIPS Purchasing Managers’ Index (PMI) composite flash estimate dropped to 50.9 in August from 52.1 in July, its lowest since February 2021 and

National Grid has doubled its emergency planning exercises as concerns over energy shortages this winter grow. Potential scenarios – including the rationing of electricity – will be wargamed over four days, instead of the usual two, as part of ‘Exercise Degree’. “The aim of this exercise is to demonstrate that the gas industry is prepared

UK inflation is set to top 18% in January – the highest point in more than 40 years and nine times the Bank of England’s target – due to rocketing wholesale gas prices, a global investment bank has forecast. Citi has predicted the retail energy price cap would surge to £4,567 in January and then

Cineworld has confirmed it may file for bankruptcy in the US, days after its shares nose-dived over reports the world’s second largest cinema chain was in difficulties. The UK-based company, which globally employs around 28,000 people across 751 sites in 10 countries, said it was considering options for how to restructure the business as it

Almost 2,000 workers have walked out of their jobs at the UK’s largest container port on the first day of an eight-day workers strike, in the latest round of industrial action hitting various sectors of the economy. The strike at Felixstowe port on the east coast rounds off a week that saw various strikes by

Spiralling energy costs are driving cafes, restaurants and independent shops all around the country to the edge of survival, according to an industry body. The Federation of Small Businesses director Martin McTague told The Independent that soaring bills, combined with reduced consumer spending as shoppers grapple with their own household bills, is forcing thousands of

The founder of Matalan is preparing for a fresh tussle with the retailer’s lenders over its ownership ahead of a deadline for refinancing £350m in debt. Sky News has learnt that John Hargreaves, who reinstated himself as Matalan chairman last month, has in recent days proposed injecting tens of millions of pounds into the business.

Only around one in five trains across the UK will operate today, as tens of thousands of workers go on strike again in the latest round of industrial action to hit the rail network. Members of the Rail, Maritime and Transport Workers (RMT) union and the Transport Salaried Staffs’ Association (TSSA) will both strike once

Cineworld, the world’s second-largest cinema chain, is preparing to file for bankruptcy within weeks, the Wall Street Journal reports, after struggling to rebuild attendance following the COVID pandemic. The UK-based group, which operates in 10 countries with 751 sites and more than 9,000 screens, has engaged lawyers from Kirkland & Ellis LLP and consultants from

UK retail sales rose in July but the longer-term downward trend in consumer spending shows no sign of abating, official data shows. Sales increased by 0.3% in July, which was much higher than economists’ forecasts of a 0.2% drop, according to the Office for National Statistics. But sales fell by 1.2% in the three months

Administrators to a taxpayer-backed start-up which sold travel experiences featuring musicians such as Justin Bieber have laid off the bulk of its remaining UK workforce. Sky News understands that Kroll, which was appointed this week to oversee the insolvency of Pollen’s parent company, Streetteam Software, informed staff on Thursday that only a handful would be

Rail, Tube and bus passengers are set to face four days of travel misery as tens of thousands of workers stage another round of strikes. In recent months, several strikes have been carried out as part of a long-running dispute over pay, jobs and working conditions. From Thursday, Network Rail, train companies, London Underground and

Made.com Group, the online furniture retailer, has drafted in advisers to help shore up its balance sheet as it weighs plans for a share sale to raise approximately £50m. Sky News has learnt that the troubled London-listed company has hired PricewaterhouseCoopers (PwC) to examine cost-cutting and other restructuring options. City sources said on Wednesday that

Britain’s rate of inflation has surged to a fresh 40-year high, heaping yet more pain on cash-strapped households as the cost of living crisis deepens. The Consumer Prices Index (CPI) rose to 10.1% in the 12 months to July, up from 9.4% in June and remaining at the highest level since February 1982, the Office

While naturally most attention with today’s jobs figures will focus on the biggest decline in wages in real terms, in other words when inflation is factored in, the numbers also point to a lot of interesting things going on beneath the surface. First of all, look at the way the growth in wages including bonuses

Most households are underestimating the massive energy price rises predicted in the coming months with some even believing they will fall, new research shows. Families believe their household gas and electricity bills will go up by £487 from the start of October, despite experts predicting a rise of more than three times that amount, research

The American consumer goods group which owns Reebok and an interest in David Beckham’s branded products portfolio is close to unveiling a cut-price £200m takeover of Ted Baker, the London-listed fashion retailer. Sky News has learnt that the board of Ted Baker is preparing to recommend a 110p-a-share offer from Authentic Brands Group (ABG), run

Sir Keir Starmer has pledged that people will not “pay a penny more” on their winter energy bills as he prepares to unveil Labour’s plan for easing the cost of living crisis. Before a full announcement on Monday, the Labour leader says his party’s £29bn energy plan will save the typical family £1,000 immediately, get