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Bank of England governor to join Reeves on key China visit
Andrew Bailey, the Bank of England governor, will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries.Sky News has learnt that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor on the January trip. Mr …
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Sky News
High street giants plot new warning to Treasury over retail jobs
Retail giants including Asda, Marks & Spencer, Primark and Tesco will mount a new year campaign to warn Rachel Reeves that plans to hike business rates on larger shops will put jobs and stores under threat.Sky News has learnt that some of Britain’s biggest chains – which also include J Sainsbury, Morrisons and Kingfisher-owned B&Q …
Business
Sky News
Top European clubs body dismisses ‘disruptive’ Super League revival bid
The group which represents hundreds of European football teams including Liverpool, Manchester City and Bayern Munich has dismissed the latest bid to revive a European Super League project as a “disruptive” campaign led by “separatist self-interested clubs”.Sky News has obtained a memo circulated to the board of the European Club Association (ECA) by its chairman, …
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Sky News
Government borrowing in November hits three-year low
Government borrowing in November was the lowest for that month in three years, according to official figures.November borrowing was £3.4bn less than the same time last year, the Office for National Statistics (ONS) said. The state borrowed £11.2bn more than it took in last month. The deficit fall was not anticipated by analysts who had …
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Sky News
Surprisingly low retail sales in key Christmas shopping month – official figures
The UK’s retail sales recovery was smaller than expected in the key Christmas shopping month of November, official figures show.Retail sales rose just 0.2% last month despite discounting events in the run-up to Black Friday. It followed a 0.7% fall seen in October, according to data from the Office for National Statistics (ONS). Sales growth …
Business
Sky News
Car production falls for ninth month in a row – after worst November since 1980
UK car manufacturing fell again in November, the ninth month of decline in a row, according to industry data.A total of 64,216 cars were produced in UK factories last month, 27,711 fewer than in November last year – a 30% drop, according to data from the Society of Motor Manufacturers and Traders (SMMT). The figures …
Business
Sky News
Efune races to salvage Telegraph deal as exclusivity period ends
The owner of the New York Sun is racing to salvage a £550m takeover of The Daily Telegraph after a period of exclusive negotiations to clinch a deal came to an end.Sky News has learnt that Dovid Efune is in London for talks with Telegraph executives, investors and advisers on the transaction amid growing uncertainty …
Business
Sky News
Bargain Booze owner turns to CVA after impasse with landlords
Bestway Group, one of Britain’s biggest privately owned companies, is preparing to launch a formal financial restructuring process for its Bargain Booze and Wine Rack chains of off-licences.Sky News has learnt that the group has informed landlords about plans for a company voluntary arrangement (CVA) for its Bestway Retail arm. Property sources said the conglomerate, …
Business
Sky News
Bank of England keeps ‘gradual’ cut prospects alive as interest rate held
The Bank of England has maintained its guidance for “gradual” interest rate cuts next year, following surprise support for a reduction this month.Its rate-setting committee, while deciding to keep Bank rate on hold at 4.75%, noted higher than expected wage rises and inflation despite a slowdown in the economy over the second half of the …
Business
Sky News
Full list of what water bills cost now – and how much they’re going up by in your area
The cost of water bills will go up in the next few years, the industry regulator Ofwat confirmed today.The average bill will go up 36% but how much extra billpayers will be charged depends on what part of England or Wales you live in, and which water company supplies you. The sums are below what …
Business
Sky News
Water bills to rise by average of 36% over next five years
Average water bills in England and Wales will increase by 36% over the next five years, the water regulator Ofwat has said. The rise is equivalent to an average extra cost of £31 per year. Water companies had asked for an average rise of 40%.The regulator’s draft determinations issued in July said bills would rise …
Business
Sky News
Tortoise thwarts eco-tycoon Vince with deal to buy The Observer
The Observer is to fall under the ownership of Tortoise Media, a fledgling digital start-up, in a binding deal signed after weeks of controversy about the fate of the world’s oldest Sunday newspaper.Guardian Media Group (GMG) and the Scott Trust announced on Wednesday morning that the title will be acquired by Tortoise, even as the …

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