Business

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

The European Commission has warned it will take “proportionate action” to secure the legal implementation of the Northern Ireland Protocol after the UK government published legislation which will override the mechanism. The commission’s vice president Maros Sefcovic said the EU viewed the UK’s actions with “significant concern” and that it would consider what steps to

The UK economy contracted by 0.3% in April, according to official figures released as the CBI, Britain’s biggest employers’ group, demanded “vital actions” from the government to prevent an inflation-driven recession. The Office for National Statistics (ONS) had been expected by economists to confirm a slight rise in gross domestic product (GDP) for the month

The chair of Landsec, the FTSE-100 commercial property group, is on a shortlist of contenders to take the helm at the Royal Opera House, one of Britain’s most important cultural sector jobs. Sky News has learnt that Cressida Hogg, who is preparing to step down from the Landsec post, is among a small number of

The government has ordered an “urgent” review by the competition regulator into the fuel market after pump prices hit new record highs. Business Secretary Kwasi Kwarteng said in a letter to the Competition and Markets Authority (CMA) that there was “widespread concern” about the pace of price rises and public frustration that a cut in

One of the candidates snubbed in the recent race to chair Ofcom, the media regulator, is being considered to oversee a government-commissioned review of the BBC’s future funding. Sky News has learnt that Lord Gilbert of Panteg, the former chair of the House of Lords communications and digital committee, is among a list of names

The boss of Wizz Air is facing a backlash from unions, including pilots’ representatives, after he urged fatigued staff to go the “extra mile” as the industry battles flight cancellations caused by staff shortages. Jozsef Varadi made his remarks to workers after the company warned of fare increases ahead following the publication of financial results

More than half of UK households have cut down on their energy usage as a result of the cost of living crisis, new data suggests. A survey carried out by the Office for National Statistics (ONS) revealed that 52% of Britons are using less gas and electricity in a bid to cut down costs. The

Lenders to Matalan, one of Britain’s biggest budget retailers, are preparing for crunch talks about the chain’s future financing against a backdrop of soaring inflation and deepening economic gloom. Sky News has learnt that Matalan’s senior bondholders are lining up Perella Weinberg Partners to advise them on their options with a £350m repayment due to

The £100 tank of unleaded petrol is another milestone on the relentless upward path of fuel prices. Watching the price click in to three figures for the first time will draw the breath of anyone filling the 55-litre tank of a family saloon. But whichever way you count it, prices have been kicking consumers in

The average cost of filling a typical family car with petrol costs more than £100 for the first time, the RAC has said. The situation will likely worsen the cost of living crisis for motorists and for customers, as businesses will at some point look to pass on their rising costs. RAC fuel spokesperson Simon

The cost of filling the average family car with petrol is tipped to have exceeded £100 for the first time, when industry figures are released later on Thursday. The price of fuel has been a major component of the cost of living crisis from the off, with diesel – the engine of the UK economy

Rishi Sunak has been urged by one of the world’s leading economic authorities to cut taxes or raise spending in the face of looming stagnation next year. The UK is poised for the weakest economic growth in the developed world next year, according to new forecasts from the Organisation for Economic Co-operation and Development. In

Thousands of railway workers are planning to strike on three days later this month in the biggest outbreak of industrial action since 1989, according to the RMT union. It said that more than 50,000 of its members across Network Rail and 13 train operators across the UK will walk out on 21, 23 and 25