Business

British Airways (BA) has announced it will cut a further 10,300 short-haul flights until the end of October. The airline, among the worst hit by post-pandemic staff shortages that have resulted in widespread disruption for passengers this year, made the announcement just a day after another wave of cancellations was revealed in a bid to

The amount you can earn before having to pay national insurance (NI) has been raised from today, a move Boris Johnson has described as the “biggest tax cut in a decade” to help with the rising cost of living. The government says 30 million people will benefit to the tune of £6bn collectively from the

British Airways (BA) has moved again to build greater resilience in its flying schedules by cancelling additional flights during the key summer holiday season. The airline, one of the worst affected by post-pandemic staff shortages this year, said it was taking further “pre-emptive” action to prevent disruption for passengers. It follows a torrid reopening of

The UK car industry has been hit by its worst June for new car sales since 1996. Registrations of new cars plummeted about 24% last month compared with June 2021, according to preliminary figures from the Society of Motor Manufacturers and Traders (SMMT). Manufacturers have had problems fulfilling orders due to global shortages of semiconductors,

The Premier League is asking clubs to support phasing out shirt sponsorship by gambling companies in a last-ditch effort to avert a government-imposed ban. Sky News has learnt that the Premier League contacted clubs on Monday to propose a resolution that would see betting companies disappear from teams’ shirts within the next three years. Under

There are 7,000 fewer pubs in England and Wales than there were 10 years ago, research has found. Their total number dropped below 40,000 in the first half of 2022 – the lowest number on record, according to real estate advisers Altus Group. Pubs have suffered setbacks in recent years due to the coronavirus pandemic,

A family-run industrial group is to change hands for £400m, giving a much-needed boost to a deals market slowing down amid growing economic anxiety. Sky News has learnt that Triton Partners is on the verge of an agreement to acquire O’Connor Utilities Group, which is based in Manchester. An industry source said a deal could

Homeowners could soon be taking out 50-year mortgages to then be passed on to their children when they die, under new plans being considered by the government. The Japanese-style lending agreements could see people being able to buy a home with little or no expectation of completing mortgage repayments during their lifetime. Instead the property

The governor of the Bank of England is opposing plans drawn up by the Treasury that would allow ministers to overrule financial watchdogs on key areas of City regulation. Sky News has learnt that Andrew Bailey has expressed disquiet about a so-called ‘call-in power’ that will be included in the Financial Services and Markets Bill,

Tom Glick, a former executive at Manchester City FC’s parent company, is to take over the day-to-day running of Chelsea Football Club in the wake of its £2.5bn takeover. Sky News has learnt that Mr Glick’s appointment could be announced within days by Chelsea’s new owners, although it remained unclear on Friday whether he would

Klarna, the buy-now-pay-later credit provider, is trying to finalise a fresh capital injection likely to value it at less than $10bn – just 20% of its worth only two years ago. Sky News has learnt that the Swedish company has asked investors to commit in the coming days to a fundraising that is expected to

Aston Martin has said it is considering multiple funding options following reports that Saudi Arabia’s sovereign wealth fund was lining up a possible investment worth hundreds of millions of pounds. Responding to the reports, the luxury carmaker said that it was keeping all “funding options under review,” amid uncertainty around the company’s future. Aston Martin’s

One of Britain’s leading electric vehicle infrastructure companies is in talks about securing a substantial new round of funding from an arm of M&G, the FTSE-100 asset manager. Sky News has learnt that Gridserve is in advanced discussions with Infracapital about a deal that would provide it with significant firepower to accelerate its rollout of

Gordon Brown has claimed that Britain is “at war with America over Ireland” – amid opposition from US politicians over plans to tear up the Northern Ireland Protocol. The former prime minister told Sky News’s Beth Rigby Interviews that there was no chance of the UK signing a trade deal with the world’s biggest economy

A two-year extension of tariffs on some foreign steel has been revealed by the government in a bid to protect domestic producers, despite pleas from manufacturers for help to grow imports because of a domestic steel shortage. International Trade Secretary told MPs “safeguards” would remain on 15 major categories of imported steel in total, because

Kerry says she has £20,000 of debts and counting. She is one of an increasing number of people for whom the cost of living crisis is not only making it hard to get by – but who are being plunged into the red or deeper into existing debt. “I’m paying it bit by bit,” she

The international money-transfer service WorldRemit has become the latest fintech unicorn to take an axe to its workforce, as tumbling valuations force founders onto a survival footing. Sky News has learnt that Zepz has let go scores of employees in recent months in a move that reduced its global employee numbers to approximately 1,000. News

Petrol retailers have been accused of forcing “rocket and feather” pricing after unleaded hit a new, and unexpected, record average high over the weekend. Motoring organisations had forecast a decline in wholesale costs to have been reflected at the pumps, but data from Experian Catalist revealed on Monday that petrol had reached 191.1p a litre

One of HSBC’s top UK executives is quitting in a surprise move to run the Skipton Building Society, one of Britain’s biggest financial mutuals. Sky News has learnt that Stuart Haire, group general manager and chief executive of the London-listed banking giant’s UK personal and private banking businesses, is to become the new CEO of

The father-and-son duo who have built Matchroom Sport into a global sports promotion empire are plotting a deal that will cement their status among Britain’s super-rich. Sky News can reveal that Barry and Eddie Hearn are in detailed talks with at least three private equity firms about the sale of a substantial minority stake in