Business

Official accounts have revealed for the first time how much the King’s 2023 coronation cost UK taxpayers. According to the accounts, the government spent £72m on the coronation – the first in Britain since Queen Elizabeth II’s in 1953. The figure includes £50.3m of costs attributed to the Department for Culture, Media and Sport (DCMS),

Nine water companies have been blocked from using customer money to fund “undeserved” bonuses by the industry’s regulator. Ofwat said it had stepped in to use its new powers over water firms that cannot show that bonuses are sufficiently linked to performance. The blocked payouts amount to 73% of the total executive awards proposed across

Check out the companies making headlines in extended trading: Nvidia — The artificial intelligence darling slid nearly 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share

Inflation is rising faster than expected, with the headline rate hitting 2.3% in October, higher than the 2.2% forecast by economists and above the Bank of England’s 2% target. How worried should we be? These figures are a world away from the double-digit levels of inflation we experienced in 2022, when the index peaked at

SpaceX launched the sixth test flight of its Starship rocket on Tuesday, as the company looks to keep up momentum of the mammoth vehicle’s development. The rocket took off from SpaceX’s private “Starbase” facility near Brownsville, Texas. There are not any people on board the Starship flight. Starship reached space and will travel halfway around

The boss of Harrods is to step down next year from the group which represents Britain’s luxury goods industry – one of a number of roles he will have relinquished since allegations emerged about years of abuse perpetrated by the Knightsbridge department store’s former owner. Sky News has learnt that Michael Ward will hand over

A mural promoting bicycle travel as a means to ‘arrive happy’ outside a Walmart Home Office location in Bentonville, Arkansas, US, on Monday, Nov. 21, 2022.  Terra Fondriest | Bloomberg | Getty Images Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at Tuesday and last look at today. Sign

Energy bills are to rise again next year, according to a respected forecaster. Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of

Cineworld’s hedge fund backers are drawing up plans to return the cinema operator to the public markets amid continuing uncertainty about the future of dozens of its British sites. Sky News has learnt that the company’s owners are at the early stages of considering a New York listing for the business, with the first half

Sir Keir Starmer has said he will defend the decisions made in the budget “all day long” amid anger from farmers over inheritance tax changes. Chancellor Rachel Reeves announced last month in her key speech that from April 2026, farms worth more than £1m will face an inheritance tax rate of 20%, rather than the

A former Conservative cabinet minister has thrown his hat into the ring to become the inaugural chair of Britain’s new independent football regulator. Sky News has learnt that Chris Heaton-Harris, who stood down as an MP at July’s general election, is among those who applied for the role ahead of a deadline on Friday. Mr

Pizza Hut’s biggest UK franchisee has begun approaching potential bidders as it scrambles to mitigate the looming impact of tax hikes announced in last month’s Budget. Sky News has learnt that Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions

The former head of Britain’s audit watchdog is being lined up as the next chairman of high street billionaire Mike Ashley’s London-listed retail empire. Sky News has learnt that Sir Jon Thompson, who joined the board of Frasers Group earlier this year as a non-executive director, is expected to take over from David Daly at

The UK economy grew by 0.1% between July and September, according to the Office for National Statistics (ONS). However, despite the small positive GDP growth recorded in the third quarter, the economy shrank by 0.1% in September, dragging down overall growth for the quarter. The growth was also slower than what had been expected by

Check out the companies making headlines in after-hours trading: Domino’s Pizza , Ulta Beauty — Shares surged about 8% after Berkshire Hathaway announced a new stake in the pizza chain in a regulatory filing. The Warren Buffett-led firm bought more than 1.2 million shares, making the stake worth around $550 million at the end of

The government is calling on the music industry to introduce a voluntary levy on tickets for concerts at stadiums and arenas to help fund grassroots venues. Ministers expect the music industry to push through their proposals “as soon as possible” for shows next year, the Department for Culture, Media and Sport (DCMS) said. The government