Business

The UK economy is “headed for the worst of all worlds” as businesses expect activity to fall at the start of next year, according to the Confederation of British Industry (CBI). The industry group’s growth indicator survey found that private sector firms expect to cut down on hiring, reduce output and for prices to rise

The UK economy showed no growth in the last quarter, according to the revised figures from the Office for National Statistics (ONS). The previous estimate for July and September said the economy grew by 0.1%. Early estimates show that real GDP per head fell by 0.2% in the third quarter of 2024, and is 0.2%

Japanese car giants, Honda and Nissan, have announced plans to merge. That would make them the third largest car maker by sales, behind Toyota Motor Corp and Volkswagen AG. The two companies said they had signed a memorandum of understanding, which would also include the smaller Nissan Alliance member, Mitsubishi Motors, in the talks on

A leading construction industry body has warned the prime minister that measures unveiled in the budget will “fatally undermine” family-run companies in the sector, adding to the business backlash facing the government since the end of October. In a letter to Sir Keir Starmer seen by Sky News, Steve Mulholland, chief executive of the Construction

An Oxford University spinout which is developing a new generation of weed-resistant herbicides has begun planting a $40m (£32m) fundraising with prospective backers. Sky News understands that Moa Technology, which was co-founded by the world-leading university’s head of plant sciences Professor Liam Dolan, is kicking off a Series C funding round. Moa has already raised

Aviva has agreed a deal to buy rival company Direct Line for £3.7bn ahead of a Christmas Day deadline. The insurance firm announced the agreement with its smaller competitor a few weeks after a £3.3bn bid was turned down in November. A deal for the two firms would make them a force in motor insurance,

Cadbury says it is “disappointed” after losing its royal warrant after 170 years. The chocolate maker behind festive favourites such as Heroes and Dairy Milk is among the brands that have had their warrants withdrawn under King Charles. The development was reported in a list published by Buckingham Palace’s Royal Warrant Holders Association. Warrants are

It would be easy to dismiss tabletop gaming as a “geeky” hobby played by young boys in the basements of their homes. For those who have never enjoyed the rush of playing a miniature wargame, it may come as a surprise that it is in fact a multi-billion-pound industry loved by people from all walks

An electric cargo bike logistics company which counts the fashion giant Zara among its partners has launched an urgent hunt for new backers. Sky News has learnt that Zedify, which has raised millions of pounds from investors including Barclays Sustainable Impact Capital, is working with Interpath Advisory on a review of its financing options. Zedify

Retail giants including Asda, Marks & Spencer, Primark and Tesco will mount a new year campaign to warn Rachel Reeves that plans to hike business rates on larger shops will put jobs and stores under threat. Sky News has learnt that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and Kingfisher-owned

Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learnt that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor on the January trip.

Tesla has recalled almost 700,000 of its electric vehicles because of an issue with the warning light on the tyre pressure monitoring system. Its warning light may not remain illuminated between drive cycles, failing to warn the driver of low tyre pressure and increasing the risk of a crash, the manufacturer said. The issue affects

The group which represents hundreds of European football teams including Liverpool, Manchester City and Bayern Munich has dismissed the latest bid to revive a European Super League project as a “disruptive” campaign led by “separatist self-interested clubs”. Sky News has obtained a memo circulated to the board of the European Club Association (ECA) by its

The UK’s biggest water company has been fined £18.2m for “unjustified” dividends which the regulator said broke shareholder payment rules. Thames Water has been hit with the penalty by water regulator Ofwat over the combined £195.8m in dividends paid in October 2023 and March 2024. It’s the first time Ofwat has used such enforcement powers

The owner of the New York Sun is racing to salvage a £550m takeover of The Daily Telegraph after a period of exclusive negotiations to clinch a deal came to an end. Sky News has learnt that Dovid Efune is in London for talks with Telegraph executives, investors and advisers on the transaction amid growing

Traders work on the New York Stock Exchange (NYSE) floor in New York City.  Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You