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Surprise boost for retail as food sales see biggest jump since start of pandemic
Shops were given a surprisingly big boost in January as retail sales rose by 1.7% – much more than the 0.3% rise forecast by economists.It’s the first growth since August and follows a fall of 0.6% in the key shopping month of December, according to Office for National Statistics (ONS) figures. There has not been …
Business
Sky News
Farage relinquishes majority control of Reform UK
Nigel Farage has given up sole control of Reform UK, with the party’s members now being “handed over ownership” following a vote last year, according to its chairman.The party, led by Mr Farage, was previously controlled by the Clacton MP as he held a majority of shares in the company. According to the party’s new …
Business
Sky News
Redundancies, poor results and fan fury: A look at Manchester United’s difficult year
What happens when you put a boyhood fan in charge of their club?They discover it’s not so simple to run after all. And the fans you sat with many years ago are as impatient as ever. Anger reverberates exactly a year since Sir Jim Ratcliffe and his INEOS organisation gained day-to-day control of football operations …
Business
Sky News
200 jobs lost as Quiz Clothing calls in administrators
Hundreds more high street jobs will be lost this week after Quiz Clothing, the troubled fashion retailer, called in administrators.Sky News understands that the company, which was listed until recently on the London Stock Exchange, will see the closure of 23 of its shops, with about 200 employees expected to be made redundant. Quiz, which …
Business
Sky News
Melrose founders target $2bn bid for US industrial group ECI
The industrial veterans who turned Melrose Industries into one of Britain’s most prominent public companies are targeting a $2bn (£1.59bn) takeover of a US-based manufacturer of wire harnesses.Sky News has learnt that Rosebank Industries, which floated on the London stock market last summer, has identified Electrical Components International (ECI) as its first major acquisition. Talks …
Business
Sky News
Inflation rise unlikely to shift Bank of England’s stance on interest rates
Inflation is rising faster than expected but the latest data is unlikely to shift the Bank of England’s stance on interest rates.The headline rate of inflation hit 3% in January, up from 2.5% the previous month and higher than the 2.8% forecast by economists and the Bank of England. It’s expected to go even higher, …
Business
Sky News
Inflation rises to a high not seen in nearly a year – official figures
Inflation has risen a surprising amount – to the highest in nearly a year – official figures show.This means prices are rising even more than at any time since last March, according to data from the Office for National Statistics (ONS) for January. The consumer price index (CPI) ticked up steeply to 3% from 2.5% …
Business
Sky News
Thames Water multi-billion pound debt lifeline approved by High Court
Thames Water, which was due to run out of money, has been given a lifeline after a £3bn loan was approved by the High Court. The loan gives the UK’s biggest water provider time to sort out its finances and could ward off nationalisation. Court approval had been needed for the rescue plan centred on …
Business
Sky News
Pay rises despite job market worries
Wages have risen while unemployment unexpectedly saw no change, official figures show.Average weekly earnings rose 6% in the three months to December, data from the Office for National Statistics (ONS) showed, while wages – excluding bonuses – grew 5.9%, despite economists expecting a 5.8% rise. Money blog: Your parking disputes resolved by expertEven with inflation …
Business
Sky News
Reynolds set for fresh talks on British Steel rescue deal
The business secretary will this week hold a fresh round of talks with British Steel’s Chinese owner amid protracted talks about a state bailout of the Scunthorpe-based company.Sky News has learnt that Jonathan Reynolds will discuss the future of the industrial group with Jingye Group’s boss, Li Huiming, in the latest chapter of a negotiation …
Business
Sky News
Topps Tiles’ purchase of rival could bring up prices – competition watchdog
The UK competition regulator has warned Topp Tiles’ purchase of 30 rival shops could make prices more expensive and services worse.On Monday the competition regulator the Competition and Market Authority (CMA) said the acquisition of CTD Tiles stores could lead to competition issues. Money blog: Nearly 300 pubs permanently closed last yearThose competition issues could …
Business
Sky News
What’s happening with Thames Water and could it be nationalised?
It’s was crunch time for the UK’s biggest water provider Thames Water as its fate was announced on Tuesday morning. Thames Water finances hung in the balance with debts of £16bn and existing investors declaring the business “uninvestable”, due to the high fines it faces for environmental and other regulatory breaches and the clampdown on …

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