Business

The cost of the average annual grocery shop has risen by almost £40 in just one month, according to an industry report which is warning it is too early to say when food price inflation will peak. Kantar Worldpanel reported a fresh record grocery inflation figure of 14.7% for the four weeks to 30 October,

The owners of Liverpool FC have said they are open to offers, raising the prospect of the club being sold. The Fenway Sports Group (FSG), which also owns the Boston Red Sox, bought the club in 2010, with it going on to win the Premier League in 2019-20 and the Champions League in 2019. In

While most airlines and airports have struggled to return to pre-pandemic health, Ryanair has brought itself to a better position than 2019. Record passenger numbers in the second quarter and higher fares have resulted in a profit of €1.37bn (£1.2bn) for the first half of its 2023 financial year. The numbers are better than pre-pandemic.

Workers are set to see more money in their pay packets as a rise in National Insurance is being reversed today. National Insurance contributions rose by 1.25 percentage points in April as part of plans to help pay for social care and deal with the NHS backlog. Most employees will see a cut to their

Twitter has started rolling out its revamped subscription service that allows anyone to pay for a verification badge. An update to the platform’s iOS app, launched on Saturday, says the new-look Twitter Blue is now live, with the checkmark on your account listed among the perks of paying $7.99 a month. “Power to the people:

Grant Shapps, the new business secretary, will hold crunch talks next week with the owners of Britain’s second-biggest steel producer, amid dwindling hopes that a government aid package will prevent thousands of job losses. Sky News has learnt that Mr Shapps will speak to Jingye Group executives on Monday in an attempt to persuade the

Elon Musk has defended sacking half of Twitter’s 8,000 workers, saying “unfortunately, there is no choice”. Mr Musk insisted that the platform’s commitment to moderation remained “absolutely unchanged”. He tweeted: “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4m a day. “Everyone exited was offered three months

Hundreds of workers at Heathrow will walk out in the run-up to the World Cup finals this month over demands for better pay. Unite said 700 staff, who are involved in ground-handling, airside transport and cargo and are employed by Dnata and Menzies at Heathrow, will strike for three days starting from 18 November. “It

The energy regulator has approved a scheme that will see households and businesses taking part receive financial rewards for saving power at times of peak demand. National Grid ESO, which operates the country’s electricity network, said Ofgem had backed its plans for the Demand Flexibility Service (DFS) for the winter. The scheme is designed to

Let’s start with what we do know. The economy is now almost certainly in recession. It will not be pleasant. This is a recession which will be felt in most households’ pockets – both through the rise in energy prices and shop prices and the rise in the cost of borrowing. And when it comes

Sainsbury’s has claimed to be passing on rising costs to shoppers at a slower rate than its competitors, saying its decision is partly responsible for a dip in first-half profits. The UK’s second-biggest supermarket chain by market share, which also owns Argos, updated on its progress as the “big four”, also including Tesco, Morrisons and

BT Group is expected to increase a multibillion-pound cost-savings target on Thursday as it seeks to counter the inflationary headwinds buffeting the UK economy. Sky News has learnt that Philip Jansen, BT chief executive, is poised to use the telecom giant’s half-results announcement to outline plans to find a further £500m of savings by the

Food inflation surged to a record 11.6% in October – with staple items including tea bags, milk and sugar all seeing significant price rises, according to a retail body. Overall, shops increased prices by 6.6% in the 12 months to October – the highest level since records began in 2005. But fresh food has been

Boris Johnson is in talks with one of Hollywood’s most prominent talent agencies about a lucrative speaking deal following his aborted run for a second stint as Britain’s prime minister. Sky News has learned that Mr Johnson has been holding detailed talks with Endeavor, the group founded by American businessman Ari Emanuel. Sources said that

BP has credited strong natural gas trading for strong quarterly profits of £7.1bn, which have fanned the flames around demands for stiffer windfall taxes. The oil and gas giant revealed third quarter profits of $8.2bn compared to $3.3bn in the same period a year earlier – boosted by high prices resulting from the impact of

Instagram has said it is looking into why thousands of users have suddenly had their accounts suspended. Users around the world have posted on other social media platforms to ask why they have been locked out of their profiles, having received a message saying: “We suspended your account on October 31, 2022.” “We’re aware that

Twitter’s new owner Elon Musk has denied a report he plans to lay off employees before the start of next month to avoid having to make special payouts as part of their compensation deal. In a response to a Twitter user asking about the redundancies reported in the New York Times, Musk tweeted simply: “This

The next operator of the National Lottery is in talks to buy the incumbent, Camelot, in a £100m deal that would pave the way for the removal of the latter’s final legal challenge against the industry regulator. Sky News has learnt that Allwyn Entertainment is in advanced discussions with Camelot’s Canadian owner about a takeover

Octopus Energy has sealed its deal to buy Bulb, a collapsed energy rival that has been funded by billions of pounds in government support for nearly a year. Octopus said it is taking on Bulb’s 1.5 million customers “bringing an end to taxpayer losses and uncertainty for Bulb customers and employees”. It added: “Octopus is

A veteran investment banker is being lined up to chair one of Britain’s biggest car parts manufacturers as it prepares for a newly independent life as a standalone listed company. Sky News has learnt that Simon Mackenzie-Smith, a prominent City figure during a long career at Bank of America Merrill Lynch, is close to being