The Bank of England has maintained its forecast for “gradual” interest rate cuts for next year, after surprisingly backing a cut this month. Its pricing committee, while deciding to keep Bank interest rate maintained at 4.75%, noted higher than expected salary increases and inflation despite a slowdown in the economy in the second half. However, … Read more
Retail giants including Asda, Marks & Spencer, Primark and Tesco will host a New Year’s campaign to warn Rachel Reeves that plans to increase business rates in department stores will put jobs and workers at risk. stores. Sky News has learned that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and … Read more
Tesla has recalled nearly 700,000 of its electric vehicles due to a problem with the tire pressure monitoring system warning light. Its light may fail to stay on between drive cycles, which fails to warn the driver of low tire pressure and increases the risk of a crash, the automaker said. The issue affects certain … Read more
The group which represents hundreds of European football teams, including Liverpool, Manchester City and Bayern Munich, has rejected the latest attempt to revive a European Super League project, calling it a “disruptive” campaign led by ” interested separatist clubs.” Sky News has obtained a memo distributed to the board of directors of the European Club … Read more
Southern Water may not be able to guarantee that water comes out of its customers’ taps, but whoever it is, they know how to use a metaphor. The day almost 60,000 Hampshire residents faced having to queue for fresh water until the weekend the company, already £6bn in debt, was told can increase bills by … Read more
The UK’s largest water company has been fined £18.2m for “unjustified” dividends which the regulator said broke shareholder payment rules. Thames water has been hit with a penalty by water regulator Ofwat over £195.8 million in dividends paid in October 2023 and March 2024. This is the first time Ofwat has used such enforcement powers … Read more
Bestway Group, one of Britain’s largest private companies, is preparing to launch a formal financial restructuring process for its off-licence chains Bargain Booze and Wine Rack. Sky News has learned that the group has informed landlords of its proposed company voluntary agreement (CVA) for its Bestway Retail arm. Real estate sources said the conglomerate, founded … Read more
English rent prices have hit a new record, rising by almost 10% last year, according to official figures. The typical private rental price in England increased by 9.3% in the year to November, costing £116 more than 12 months earlier, according to the Office for National Statistics (ONS). English renters paid an average of £1,362 … Read more
At least 70 people within the Post Office and Royal Mail were aware of errors in the Horizon computer system, its manufacturer said on the final day of the public inquiry. Hundreds of subpostmasters have been wrongly prosecuted based on accounting errors produced by the faulty Horizon system. The final day of closing speeches was … Read more
Thames Water has won court approval to proceed with the next phase of securing a £3 billion emergency loan, with a hearing to seek approval from creditors scheduled for four days in the first week of February. The troubled utility told the High Court that without the loan it would run out of cash by … Read more