Business

Workers at rail operators and Network Rail will strike for 24 hours on 27 July in a dispute over pay, the RMT union has announced. The news comes after the union rejected a pay offer from Network Rail, which it described as “paltry”, and after three rail strikes last month which crippled services across the

The UK economy grew by 0.5% in May, according to figures released by the Office for National Statistics (ONS). It comes after two consecutive months of contraction in gross domestic product (GDP). The figures were more positive than economists had expected, with a figure of zero growth pencilled-in for May given pressures facing output from

Heathrow Airport has been accused of trying to maximise profits during a difficult travel period at the expense of airlines. The claim comes from the former boss of BA owner IAG, Willie Walsh, who is now director general of the International Air Transport Association (IATA) – a body representing global airlines. He was speaking after

Retail sales volumes have fallen to a rate “not seen since the depths of the pandemic”, according to industry data showing the third consecutive monthly decline as inflation eats away at household spending power. The British Retail Consortium (BRC) said the value of total sales was 1% lower in June than a year ago. That

The pound has fallen to a two-year low as the political landscape adds to uncertainty in an economy already under strain. On Monday afternoon the pound was at US$1.1867 – its lowest level since March 2020. Just before 5pm, it had strengthened slightly to US$1.19. It comes days after Boris Johnson’s resignation as prime minister

Uber lobbied officials to drop investigations, used a “kill switch” to thwart regulators and law enforcement and considered exploiting violence against its drivers to gain public sympathy as it aggressively expanded into global markets, according to analysis of a leaked batch of confidential documents. The International Consortium of Investigative Journalists (ICIJ) scoured more than 124,000

Klarna, the buy-now-pay-later credit provider, is close to unveiling an $800m fundraising at a valuation of less than $6bn, echoing deteriorating public market sentiment towards technology companies. Sky News has learnt that Klarna, which is based in Sweden, is expected to announce as soon as this week that it has secured the funding from existing

Tax policy is shaping up to be a deciding issue among the Tory leadership hopefuls. Former health secretaries Jeremy Hunt and Sajid Javid, who both announced their candidacy on Saturday, have said they will cut corporation tax. Both men said that they would scrap current government plans to raise the tax from 19% to 25%

The firesale of a leading British mobile phone technology provider whose owners include Roman Abramovich has been halted by the government amid a national security probe into the deal. Sky News has learnt that officials at the Department for Business, Energy and Industrial Strategy (BEIS) issued an interim order this week to block the purchase

The full range of Heinz products will return to Tesco shelves after the companies reached an agreement to resolve a pricing dispute. The US food manufacturer had paused the supply of its items in a row that raised questions over who should bear the biggest cost in the current economic climate – manufacturers, retailers, or

Britain’s competition regulator has launched an in-depth study to examine concerns about soaring fuel prices. The Competition and Markets Authority will look at the differences between petrol and diesel prices in rural and urban areas, as well as the growing gap between the price of crude oil when it enters refineries and the wholesale price

It is the final day for airlines using UK airports to cancel flights without fear of punishment as part of efforts to give certainty to passengers who are, understandably, nervous about their long-awaited summer holidays. The so-called slot amnesty was announced last month by the government when it became clear the sector could not guarantee

British Airways (BA) workers have suspended a strike that had been planned at Heathrow during the school summer holidays after receiving a “vastly improved” pay offer from the airline. After extensive negotiations, the Unite and GMB unions said an agreement was reached and members involved in the dispute would now vote on the proposed offer.

Which? says it has reported easyJet to the Civil Aviation Authority, asking the regulator to investigate the airline’s treatment of passengers who have their flights cancelled. The consumer watchdog said it had heard from passengers who were not told about their legal right to hundreds of pounds in compensation and the chance to be re-routed

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