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John Lewis chairman to leave in 2025 – making her the briefest serving boss in its history
The chairman of the John Lewis Partnership will leave the business in 2025, it has been announced, just weeks after it warned of a two-year extension to its turnaround plan.The loss-making, employee-owned company said Dame Sharon White was not seeking a second term when her five-year term ends in February 2025. The decision means her …
Business
Sky News
UK hands £4bn contract to BAE for ‘powerful attack’ submarines
Britain has awarded BAE Systems a £4bn contract to build “powerful attack” submarines as part of the AUKUS security pact with the US and Australia.BAE Systems said the Ministry of Defence had awarded it the funding to cover development work to 2028, allowing it to start detailed design work on the submarines. British defence firm …
Business
Sky News
House price decline stutters after interest rate pause and summer slowdown
The sharp decline in house prices took a pause for breath last month, according to a closely-watched report.Nationwide said prices were unchanged in September compared to the previous month. The lender had reported a 0.8% fall in August.It meant that prices were still 5.3% lower than a year earlier, equalling the biggest annual drop since …
Business
Sky News
Water firms seek £156 rise in annual bills to tackle shortages and sewage spills
Water companies are making their case for a hike to annual household bills of up to £156 in the second half of the decade, to tackle challenges including shortages and sewage leaks.Industry body Water UK said the firms’ business plans, which have to be signed off by the regulator Ofwat, would see investment almost double …
Business
Sky News
Challenger bank Redwood to go public as Rowland engineers R8 tie-up
The prominent financier Jonathan Rowland is to take the challenger bank he co-founded six years ago onto the London stock market through a reverse takeover of another business set up by his family.Sky News has learnt that Mr Rowland, who has floated a number of corporate vehicles in the City, has orchestrated a deal to …
Business
Sky News
Living wage to rise and tougher rules on benefits, chancellor to say
Chancellor Jeremy Hunt will reiterate the government’s commitments to make benefits sanctions harsher in a speech today – while also committing to raising the national living wage above £11 an hour.Mr Hunt‘s intervention comes around six weeks ahead of his autumn financial statement. While not as tumultuous as his predecessor’s party conference speech last year …
Business
Sky News
Violence and abuse faced by shop workers needs tougher action, say retail chiefs
Tougher punishments should be introduced for attacks on shop workers in the face of “unacceptable levels of violence and abuse”, retail chiefs have urged.Nearly 90 business leaders, including the bosses of Tesco, Greggs, Boots, WHSmith and Primark, have written to Home Secretary Suella Braverman to press for a law change, making it a specific criminal …
Business
Evening Standard
Sunak insists UK is not a ‘laughing stock’ as he fails to rule on HS2’s future
Rishi Sunak has refused to commit to the future of HS2 amid fears that the route linking Birmingham to Manchester may be axed due to rising costs.Speculation has risen over the project’s future after reports suggested its costs have breached the £100billion mark, even with the Leeds element being binned in 2021.As the Tory Party …
Business
Sky News
Gove calls for tax cuts ahead of next election – putting him at odds with Hunt
Michael Gove has called for a tax cut before the next general election – putting him at odds with the chancellor on the first day of Conservative Party conference.Jeremy Hunt told The Times newspaper on Saturday the government was “not in a position to talk about tax cuts at all”, and needed to focus on …
Business
Sky News
Tory calls for PM to slash ‘unsustainable’ tax burden – as Sunak takes on first conference as party leader
Top Tories are setting out their policies as the Conservative Party conference kicks off in Manchester – with levelling up, immigration and the next general election on the agenda.A number of stories have already broken overnight, including: • New levelling up funding for “overlooked” British towns• Tory backbenchers hitting out over the “unsustainable” level of …
Business
Sky News
Bathroom retailer Victoria Plum sold to owner of Beds.co.uk
The owner of Beds.co.uk and furniture retailer Cox & Cox has swooped to buy Victoria Plum, one of the UK’s best-known bathroom sellers.Sky News understands that AHK Designs acquired Victoria Plum late on Friday evening. The brand had been put up for sale by Endless, the investment firm which had owned it since 2019.City sources …
Business
Sky News
‘Huge step forward’: Single-use plastic ban comes into force in England
A ban on single-use plastic plates and cutlery and certain types of polystyrene cups and containers comes into force in England on Sunday.It follows a similar move by Scotland last year, while a ban in Wales comes in later this month. The ban also includes single-use plastic trays, bowls and balloon sticks, with the Westminster …

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