Business

P&O Ferries has restarted a limited service two days after sacking 800 crew members without notice in what it says is a cost-cutting exercise. The Dubai-owned travel firm said the Liverpool to Dublin ferry set sail on Saturday morning and has now resumed a normal service. The company’s other ships are still tied up as

The 9pm deadline for bids to buy Chelsea has passed, with consortiums led by Nick Candy, the Ricketts family and Sir Martin Broughton and Lord Sebastian Coe among the bidders. The sale has come amid UK and EU sanctions on Roman Abramovich following Russia’s invasion of Ukraine, with Chelsea also under a number of restrictions.

The London property entrepreneur Nick Candy is lining up backing from two South Korean groups as he prepares to lodge a takeover bid for Chelsea Football Club. Sky News has learnt that Hana Financial Group, a major Seoul-based lender, and C&P Sports, a sports management firm, were on Friday in discussions about joining Mr Candy’s

All remaining COVID travel measures, including the Passenger Locator Form and tests for unvaccinated arrivals, have now ended in the UK. A range of “contingency measures” will be kept in reserve so ministers can take “swift and proportionate action” if needed to tackle new variants, according to the Department for Transport. It is understood that

The Bank of England has hiked the interest rate by 0.25% to 0.75% as it forecast inflation surging to 8% next month – and even higher in the autumn. It is the third increase in a row in as many policy meetings by the bank’s rate-setters and restores the cost of borrowing to pre-pandemic levels.

Ministers’ hopes of getting Britain’s new “moonshot” scientific research agency off to a flying start have been dealt a blow by the withdrawal of the boss appointed to lead it just six weeks ago. Sky News has learnt that Dr Peter Highnam, deputy director of the US Defense Advanced Research Projects Agency (DARPA), has decided

The US central bank has fired the starting pistol on interest rate rises as the world’s largest economy faces up to a surge in inflation that is only predicted to accelerate during Russia’s war in Ukraine. The Federal Reserve raised its benchmark rate, for the first time since 2018, by a quarter point to a

Boris Johnson will hold talks with the leaders of Saudi Arabia and the United Arab Emirates as he bids to end the West’s “addiction” to Russian oil and gas. With Vladimir Putin’s increasingly barbaric assault on Ukraine set to enter a third week, the prime minister is visiting the Gulf in a stepping-up of his

The UK government has placed an export ban on luxury goods to Russia and hiked up import tariffs from the country on iconic products such as vodka. British vehicles, high-end fashion and art are some of the luxury goods that will no longer be exported to Russia as the UK and other G7 leaders continue

Britain’s pay squeeze deepened at the start of the year as wages fell in real terms at the sharpest rate for more than seven years, official figures show. Average earnings – stripping out bonuses – climbed by 3.8% in the three months to January, according to the Office for National Statistics (ONS), up from 3.7%

The company behind the UK’s two shale gas wells has urged the government to overturn an order they be sealed, arguing they could help bolster the country’s energy security in the wake of Russia’s invasion of Ukraine. The Oil and Gas Authority (OGA) had ordered Cuadrilla Resources to fill in the exploration wells, at Preston

Arm, the UK chip designer, has revealed plans to cut between 12 to 15% of its global workforce – up to 1,000 staff. The company said the bulk of the proposed losses would be felt in the UK and US but it did not provide a geographical breakdown. Arm said in a statement: “Like any

The majority of people in Britain don’t think UK’s sanctions imposed on Russia for its invasion of Ukraine go far enough and most would support doing more even if it meant an increase in the cost of living. In an exclusive poll conducted by YouGov for Sky News, 57% of adults said they didn’t think

The owner of the Houston Rockets basketball team has joined the ranks of American sports billionaires exploring a takeover bid for Chelsea Football Club ahead of a deadline for offers. Sky News has learnt that Tilman Fertitta, whose wealth is estimated by Forbes magazine at $6.2bn (£4.8bn), is among the parties given access to a

All remaining COVID travel measures, including the Passenger Locator Form and tests for arrivals, will end this week, the transport secretary has said.   Grant Shapps says anyone arriving in the UK from 4am this Friday will not need to comply with any of the previous rules. He tweeted: “These changes are possible due to

Bidders for Chelsea Football Club have been given extra time to bid for last season’s Champions League winners after the government’s decision to sanction owner Roman Abramovich threw an already-complex firesale into disarray. Sky News has learnt that parties which have joined the process being run by Raine, the New York-based merchant bank, were informed