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FCA eyes contactless limit hike after PM’s edict to watchdogs
The City watchdog is considering a formal proposal to increase Britain’s £100 contactless spending limit as part of a response to the prime minister’s order for regulators to tear down barriers to economic growth.Sky News has learnt that the Financial Conduct Authority’s response to a Christmas Eve letter from Sir Keir Starmer, chancellor Rachel Reeves …
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Sky News
IMF warns on impact of Trump tariffs
The International Monetary Fund (IMF) has warned against the prospects of a renewed US-led trade war, just days before Donald Trump prepares to begin his second term in the White House.The world’s lender of last resort used the latest update to its World Economic Outlook (WEO) to lay out a series of consequences for the …
Business
Sky News
Pizza Hut salvages restaurants’ future with pre-pack sale
The future of Pizza Hut’s restaurants in Britain has been salvaged after the business was sold out of insolvency proceedings to the brand’s main partner in Denmark and Sweden.Sky News can reveal that Heart With Smart (HWS), Pizza Hut’s dine-in franchise partner in the UK, was sold on Thursday to an entity controlled by investment …
Business
Sky News
Freetrade faces investor backlash over £160m IG Group sale
Freetrade, the British stock-trading app, is facing a backlash from early investors after announcing a sale to London-listed IG Group for a fraction of the valuation it targeted during earlier fundraising talks.Sky News has spoken to a number of Freetrade shareholders who reacted with dismay on Thursday to the £160m sale of the company. The …
Business
Sky News
BP to cut 4,700 jobs
BP has announced it is cutting 4,700 jobs from its global workforce.The energy giant also said it will cut 3,000 contractor roles as part of a cost-saving drive across the company. It comes as last year, BP launched a plan to reduce its costs by at least $2bn (£1.6bn) by the end of 2026 – …
Business
Sky News
Marginal gains don’t add up to elite performance when it comes to the economy
Marginal gains, the science of extracting significant athletic advantage from numerous small changes, has long been a mantra in top-class sport.Numerous British competitors, from the velodrome to the track, have the medals to prove it. When it comes to economics, and more specifically to running an economy, this week has provided a lesson that not …
Business
Business Live
Smiths News shares update on performance expectations
Newspaper and magazine wholesaler Smiths News says it expects its performance for the 2025 financial year to be in line with expectations. The Swindon-headquartered company made the announcement ahead of its annual general meeting (AGM) on Thursday. The historic business, which is holding its AGM at DoubleTree by Hilton at Lydiard Fields, is aiming to …
Business
Sky News
Economy just about returns to growth after two months of contraction
The UK economy just about returned to growth in November after two months of contraction, the latest official figures show. Gross domestic product (GDP), the standard measure of an economy’s value and everything it produces, grew by 0.1% compared to the previous month, according to data from the Office for National Statistics. It was expected …
Business
Sky News
Europe’s largest economy is facing a possible third consecutive year of recession
Forget this week’s minor decrease in the UK inflation number. The most important European data release was the confirmation from Germany that, during 2024, its economy contracted for the second consecutive year. Europe’s largest economy shrank by 0.2% during 2024 – on top of a 0.3% contraction in 2023.Now it must be stressed that this was …
Business
Sky News
TikTok to be banned in the US from Sunday, Supreme Court rules
TikTok is to be banned in the US from Sunday if it is not sold by its Chinese parent company, the Supreme Court has ruled.However, President Joe Biden has said he will not enforce the ban for the few remaining hours he is in office, leaving it up to Donald Trump to decide what to …
Business
Sky News
TikTok to be banned in the US from Sunday
TikTok is to be banned in the US from Sunday if it is not sold by its Chinese parent company, the Supreme Court has ruled.However, President Joe Biden has said he will not enforce the ban for the few remaining hours he is in office, leaving it up to his successor Donald Trump to decide …
Business
Business Live
Inflation falls to 2.5% in surprise dip as fuel costs rise
In a surprise move, the UK’s inflation took a downward turn last month as lower hotel prices helped balance out an increase in fuel costs, newly released official statistics indicate. The Consumer Prices Index inflation rate dropped to 2.5% in December, down from November’s 2.6%, per the Office for National Statistics (ONS). Forecasts had largely …

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