Business

Cath Kidston, the modern vintage brand, has been put up for sale just two years after collapsing into administration with the loss of nearly 1,000 jobs. Sky News has learnt that Baring Private Equity Asia (BPEA) has instructed advisers at PricewaterhouseCoopers (PwC) to find a new owner for the now wholesale-led company. Cath Kidston, which

The British public is well-used to confrontations between workers in the public sector and the government of the day. Over the decades there have been strikes and work-to-rules involving miners, teachers, the railways, the civil service and health workers among others. In the last century, “the Winter of Discontent” in 1978-79 and the miners’ strikes

British Airways (BA) workers have voted to strike during the school summer holidays in a move set to cause more travel chaos as the industry struggles to recover from the pandemic. Members of the GMB and Unite unions overwhelmingly supported the prospect of industrial action over pay with 95% of those voting, at both unions,

Millions of people have been hit by severe travel disruption on the first day of the biggest rail strike for a generation – with passengers set to face more cancellations tomorrow. Although it is not officially a strike day on Wednesday, only 60% of trains are expected to run – mostly because of a delay

The rate of inflation has risen to a fresh 40-year high of 9.1% in May, according to the latest official figures. The update, from the Office for National Statistics (ONS), represents a slight uptick on the 9% figure of the previous month – driven upwards by April’s unprecedented rise in the energy price cap. The

Boris Johnson will condemn unions for what is expected to be the biggest train strike in three decades. Around 40,000 members of the Rail, Maritime and Transport (RMT) union at Network Rail and 13 train operators will walk out from midnight for all of Tuesday, as well as Thursday and Saturday in a dispute over

Demand for supermarket value ranges has surged by 12% as grocery inflation hits its highest level in 13 years, according to closely-watched industry data. Kantar Worldpanel reported that like-for-like grocery prices rose by an annual rate of 8.3% over the four weeks to 12 June, up 1.3 percentage points on the previous period. It warned

Heathrow has asked airlines to cancel 10% of their flights today as the airport faces a baggage backlog. It comes after hundreds of passengers were left waiting for over three hours during the weekend to retrieve their luggage. Airlines have been given the option of consolidating their flights at Heathrow – meaning that instead of

A former top executive at Aviva and British Gas will this week be appointed to spearhead the latest takeover quest of Marwyn, one of the London market’s most prolific creators of listed acquisition vehicles. Sky News has learnt that Mark Hodges, who has run some of the biggest companies in the British insurance industry, will

Britain is facing a summer of discontent with more workers set to be balloted on strike action, a union chief has warned, as a series of walkouts is set to cripple the rail network. RMT general secretary Mick Lynch has predicted industrial action could spread to other services, arguing that “people can’t take it anymore”.

Hundreds of UK-based executives at PricewaterhouseCoopers (PwC) are to receive one-off six-figure windfalls from the sale of the global accountancy giant’s mobility services arm. Sky News has learnt that the firm’s 950 partners in Britain will be handed an average of just over £100,000 each following a $2.2bn deal with the private equity firm Clayton

Britons cannot expect pay rises to keep up with the soaring cost of living, the government has warned. Treasury Chief Secretary Simon Clarke has said matching salaries to inflation risked causing prices in the shops to surge even higher. His intervention comes as more than 40,000 staff prepare for a three-day strike that will cripple

Russia’s economy may take a decade to recover from the crushing sanctions placed on the country following its invasion of Ukraine in February 2022, according to one of Russia’s top businessmen. Returning to pre-sanctions levels could take nearly 10 years as the country remains cut off from half of its trade, said German Gref, the

The Government is trying to do everything it can to tackle the cost of living “storm” but cannot solve every problem or save every business, a business minister has told Sky News. Paul Scully played down the immediate likelihood of tax cuts to help struggling households as he stressed the “tight” public finances and burgeoning

Elon Musk has addressed Twitter staff for the first time and outlined new details of his vision for the company, including plans to allow some staff to work from home. Despite previously telling Tesla employees to leave the company if they do not want to spend 40 hours a week in the office, the billionaire

The Bank of England has raised interest rates for the fifth time in a row to 1.25% and set the scene to act more “forcefully” ahead because of a mounting inflation threat. There had been speculation of a more aggressive tightening after the sharpest rate hike since 1994 of 0.75% was imposed by counterparts at

The US central bank has increased interest rates by 0.75% to combat inflation – the sharpest hike in 28 years. The Federal Reserve signalled more rate rises to come and projected a slowing economy in the months ahead, along with rising unemployment. The bank raised its benchmark rate to a range of 1.5% to 1.75%,

The boss of Royal Mail has told Sky News it is keeping prices “under review” as costs surge across the business and that unions threatening strikes must understand the “changes that are required so we can compete in the market”. Simon Thompson was speaking as the company faces challenges to its modernisation plans across its

The pound has fallen to its lowest level against the dollar since the onset of the pandemic, fuelled by concerns about the economy and the prospect of a second Scottish independence referendum. Scotland’s First Minister Nicola Sturgeon said earlier that her government had an “indisputable mandate” for another vote and was ready to set out

A consumer rights expert has hit out at the aviation regulator while accusing airlines of presiding over a ‘blatant flouting of consumer rights’ following the recent flight chaos. Sue Davies, head of consumer rights at consumer group Which?, told the Business, Energy and Industrial Strategy Committee (BEIS) committee of MPs there were serious, historic, failures