Business

Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK. The car manufacturer said the cuts are needed as part of plans to bolster its competitiveness amid the stuttering drive to an all-electric vehicle (EV) future that has hit sales. Ford said the cuts would take place over the

Energy bills are to rise again next year, according to a respected forecaster. Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of

An AI software company which counts Britain’s largest gas distribution network among its clients will this week announce that it has secured $15m (£11.6m) in new backing from a syndicate of leading venture investors. Sky News understands that Cogna, which launched last year, has landed the funding from Notion Capital, with backing from Hoxton Ventures

Millions in incorrect fines were mistakenly handed to drivers over a major route in the UK in 12 months, according to a new investigation. Figures obtained by the PA news agency show National Highways cancelled 59,007 fines at the Dartford Crossing, which connects Thurrock in Essex with Dartford in Kent. These penalty charge notices amount

Australia’s government has pledged to introduce what it described as “world-leading” legislation to ban children under the age of 16 from social media. “Social media is doing harm to our kids and I’m calling time on it,” Australian Prime Minister Anthony Albanese said. “I’ve spoken to thousands of parents, grandparents, aunties and uncles. They, like

Every Monday in our Money blog, we answer questions about your financial problems or consumer disputes. This week, a reader asked what rights they had after a bad haircut. Reader Tim asked: “I’ve just moved to Norwich for work and went to a new barber. The barber didn’t listen and cut way too much at

Donald Trump’s victory was secured on an unequivocal promise to stretched American households that he would “end inflation”, but markets and economists are anticipating his second term will do the opposite. A combination of corporate tax cuts, government borrowing, lower migration and swingeing tariffs on overseas imports are all expected to heat up the American

The proposed regulator for men’s football in England will no longer have to ensure decisions on club takeovers align with the government’s foreign and trade policy. The removal of the clause follows veiled threats by UEFA to ban English teams from European competitions after being concerned about potential prohibited government interference in football. Labour made

Britain’s fourth-biggest household energy supplier has poached a senior executive from Monzo, the digital bank, as it explores options that could lead to a change of ownership. Sky News understands that OVO has recruited James Davies, who has worked for companies including William Hill and Purplebricks, the online estate agent, to become its new chief

A residential energy services provider backed by leading City investors has secured a £50m funding boost from one of the world’s biggest pension funds. Sky News understands that Hometree, which counts Legal & General (L&G) among its investors, will this week announce that it has agreed a mezzanine debt facility with a subsidiary of Canada

The price of oil has hit a six-week high amid fears over the escalating conflict in the Middle East. The market value of the benchmark Brent crude increased to almost $80 (£61) a barrel on Monday, following last week’s gains of 9.1%. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen

Israel is fighting on at least four fronts, threatening a war across the oil-rich Middle East, but there is no great sense of fear yet as far as financial markets are concerned. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen and the ultimate sponsors of these groups, Iran, has proved

Elon Musk has lashed out at the UK after reports he had been snubbed by a government investment summit.  The tech billionaire hasn’t been invited to the summit next month after his posts on his X platform regarding the violent riots in the UK last month, according to a BBC report. In response, he made

The managing director of Harrods has accused his former boss Mohamed Al Fayed of presiding over “a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct”. Five women have alleged they were raped by Fayed, who died last year at the age of 94, with several others alleging sexual misconduct. In a written

Police have arrested three people and seized more than £100,000 wrapped in nappies as part of an investigation into the sale of fake airbags. City of London Police carried out early morning raids in Leyton and Ilford, east London, seizing 500 counterfeit airbags and £140,000 in cash. Around £110,000 was hidden in nappies in a

The UK’s public sector debt has hit 100% of the value of the country’s annual economic output for the first time since the 1960s, according to official figures released ahead of the chancellor’s maiden budget. The Office for National Statistics (ONS) said, in a preliminary estimate, that the figure had risen from the 99.3% figure

One of the City’s most prominent fund management groups is heaping fresh pressure on the environmental record of Britain’s water industry by calling for suppliers to take steps to curtail the spread of antimicrobial resistance (AMR). Sky News understands that Royal London Asset Management (RLAM), which manages £169bn in assets, is calling on the UK’s

Tupperware, the maker of food storage containers, has filed for bankruptcy in the US. The firm, which was founded 78 years ago, said it was seeking approval to find a buyer for the business as part of attempts to protect the brand. The American company is mostly known for its “Tupperware parties”, which became hugely

The gap between how much money the state takes in and its spending will triple in the next 50 years, according to independent forecasters. Public debt will rise due to an ageing and ill population as well as climate change, the fiscal watchdog the Office for Budget Responsibility (OBR) has said. The ratio between debt