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Sainsbury’s rewards staff with 5% pay boost despite budget tax hit
The UK’s second largest supermarket chain is to reward store staff with an inflation-busting pay hike this year, months after warning that customers will be paying higher prices to offset budget tax hikes.Sainsbury’s said on Friday, while revealing strong Christmas sales, that the group’s hourly-paid workers would get a 5% rise worth more than £1,100 …
Business
Sky News
Britain’s gas storage levels ‘concerningly low’ after cold snap, says owner of British Gas
Britain’s gas storage levels are “concerningly low” with less than a week of demand in store, the operator of the country’s largest gas storage site has warned.Plunging temperatures and high demand for gas-fired power stations are the main factors behind the low levels, Centrica said, adding that the need to replenish stocks could lead to …
Business
Sky News
Ticket re-sales could be capped under crackdown on touts
The price of resale tickets could be capped under plans to stop the public being “fleeced” by professional touts, the government has announced.The limit could range from the cost of the original ticket to a 30% uplift, with a consultation to be launched on the specifics of the measure. Some in No 10 ‘a bit …
Business
Sky News
One of the UK’s most influential union leaders announces retirement
Mick Lynch, one of the UK’s most influential union leaders in recent history, has announced he is retiring.Mr Lynch is stepping down from the helm of the RMT (Rail Maritime and Transport Workers) union aged 63. He has served as general secretary since 2021.Money blog: Major mobile company increasing bills next monthUnder his leadership, the …
Business
Sky News
Reeves intervention ruled out as pound slides further
An intervention by the chancellor to help shore up flagging financial market confidence in the UK economy has been ruled out by the government, amid further declines in the value of the pound. Sterling fell to its lowest level against the dollar since November 2023 early on Thursday, building on recent losses. A toxic cocktail …
Business
Sky News
Yodel warrant-holders deliver bitter row over courier’s ownership
Deepening tensions over the ownership of Yodel, one of Britain’s biggest parcel delivery businesses, were exposed on Thursday when a group of purported warrant-holders indicated a desire to seize control of the company.Sky News has learnt that a group said to comprise dozens of warrant-holders – including the entrepreneur who led an aborted rescue deal …
Business
Sky News
Bank of England currency printer De La Rue receives takeover offer
De La Rue, the Bank of England’s currency printer, has been approached about a takeover by one of the City’s most prominent financiers.Sky News has learnt that Edi Truell, the pensions and private equity entrepreneur, has tabled a conditional offer for De La Rue worth 125p-a-share. The proposal, which was at a roughly-25% premium to …
Business
Sky News
Ryanair suing ‘disruptive passenger’ for causing flight to divert
Ryanair has said it is taking legal action against a disruptive passenger.In what it described as a “major misconduct clampdown”, the airline said it is seeking €15,000 (£12,500) in damages from a passenger in Ireland, whose behaviour forced a plane bound for Lanzarote to divert to Porto in Portugal last year. Ryanair claims the diverted …
Business
Business Live
B&M Bargains reports 3.5% revenue growth in festive quarter despite retail challenges
Value retailer B&M Bargains revealed strong revenue performance during the lucrative holiday period as price-conscious consumers flocked to discount options for their festive shopping needs. Despite robust sales, anticipation of impending tax increases and rising employment expenses caused B&M’s shares to take a hit, plunging 8.5% today, as reported by City AM. The Liverpool-headquartered business, …
Business
Sky News
Plenty of concern about UK economy but this isn’t a Liz Truss moment
How worried should Rachel Reeves be about the fact that the interest rates on government bonds have leapt to the highest level in more than a quarter of a century? More to the point, how worried should the rest of us be about it? After all, the interest rate on 30-year government bonds (gilts, as …
Business
Sky News
Power grid operator scrambles to avert blackout risk
The UK’s power grid operator has urged electricity providers to bolster output this evening to avert the threat of blackouts amid plunging temperatures.The National Energy System Operator (NESO) issued an alert “to encourage market actions to increase system margins”. It is worried about a lack of spare capacity in the grid from 4pm until 7pm …
Business
Business Live
Paddy Power owner loses over £300m on bad US bets after ‘favourable’ NFL season
Flutter, the parent company of Paddy Power, has revised its 2024 revenue forecasts downwards by $390m (£312m) following a string of “very unfavourable US sports results”. The firm issued a statement to the stock exchange noting that November and December had been particularly challenging due to adverse outcomes in American football parlay bets, as reported …

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