Business

Spring energy bills are projected to ease as energy markets stabilise, according to a closely-watched forecast. Energy bills in the three months from April to June are projected to fall 16% to £1,660 a year for the average user, according to research firm Cornwall Insight. It’s a £268 drop from the energy cap from next

Bahrain’s sovereign wealth fund is gaining full ownership of McLaren Group, one of the most revered names in British premium manufacturing, as part of long-term plans to secure a partnership with a global industry giant. Sky News has learnt that Mumtalakat, the Gulf state’s investment fund, is on the brink of a deal with McLaren’s

There’s a sharp easterly wind blowing but Harrison Webster’s Norfolk home is warm in every room. What’s going on here is a world first: polluting companies are paying for a domestic makeover to ditch the carbon. His mum is happy, his cats are happy, there are no fossil fuels and lower bills. A great home

The energy price cap could be lifted for a set period to help suppliers recover a record £3bn of bad debt accrued through unpaid bills, the industry regulator has announced. Ofgem said on Friday it was consulting on proposals for a one-off cap adjustment of £16 – equivalent to around £1.33 a month – to

The Federal Reserve has again held interest rates – ahead of a Bank of England announcement on Thursday in which it is widely expected to do the same. The US central bank said there was no immediate need for a hike because inflation had “eased over the past year,” as it also suggested borrowing costs

Tesla is recalling more than two million vehicles in the US over concerns about its Autopilot advanced driver-assistance system. The National Highway Traffic Safety Administration (NHTSA) said the system’s method of making sure drivers are paying attention can be inadequate and can lead to “foreseeable misuse of the system”. The NHTSA has been investigating Elon

Around eight million eligible households across the UK will receive a £299 cost of living payment in February, the government has announced. The payment will be made to people on eligible means-tested benefits between 6 and 22 February and is part of a wider support package for households. It is one of three means-tested cost

Microsoft’s multibillion-dollar partnership with ChatGPT maker OpenAI could face investigation by the UK’s competition regulator. The tech giant is a major investor and strengthened ties following the chatbot’s wildly successful launch in November 2022, committing another $10bn (£7.9bn) earlier this year. It is reported to own a 49% stake in the company, which is at

Google has revealed a new AI model it claims beats rivals like ChatGPT at most tasks after the company’s “largest science and engineering project ever”. Gemini is described as multimodal, meaning it can understand text, audio, video, images, and computer code. It’s been built by teams across Google, including London-based AI research unit DeepMind. DeepMind

Manchester United Football Club and Sir Jim Ratcliffe, the petrochemicals billionaire, aim to announce within days a £1.25bn deal that will see him take a 25% stake in the Red Devils. Sky News understands that the two sides have pencilled in early next week to confirm the long-awaited transaction, which will involve Sir Jim’s Ineos

House prices recorded a second month of growth in November, according to a closely-watched report. The Nationwide House Price Index showed average values were 0.2% higher, building on the 0.9% increase it measured in October. It meant, the mortgage lender said, that prices were 2% down on an annual basis – outperforming the expectations of

Even before Northern Rock collapsed and the financial crisis exploded, Alistair Darling was already wrangling with an unenviable inheritance as chancellor of the exchequer. Not only was he having to follow in the footsteps of the longest-serving chancellor of modern times – a man who presided over an almost unprecedentedly long period of stability and

Castore, the British sportswear brand backed by Sir Andy Murray and which adorns a host of Premier League football kits, has reached a valuation of nearly £1bn after scoring a bumper investment from a host of new backers. Sky News can reveal that Castore has struck a deal to raise £150m from investors including Raine

The National Grid is to pay some households to cut their energy use after activating its blackout prevention scheme during the current cold snap. Eligible properties with smart meters will be offered cash and other rewards in return for cutting their usage between 5pm and 6.30pm on Wednesday evening, it has been announced. It marks

On today’s episode, Ian King discusses the news that Nissan is making a big investment in its Sunderland plant – which the prime minister has hailed as a “massive vote of confidence” in the UK. He also looks at a deal between Boots and Legal & General, and speaks to the boss of lorry maker

Nissan has announced plans to build new electric versions of its popular Juke and Qashqai models at its Sunderland plant. All models made at the site will be entirely electric cars and a battery making plant, a so-called gigafactory, will also be built as part of an overall £3bn investment in the transition away from

Ian King is joined by Economics and Data Editor, Ed Conway, to discuss yesterday’s Autumn Budget and the news that business activity has risen this month. He also speaks with Eamonn O’Hare, one of the founders of Zegona – a UK-listed business set up to invest in telecoms assets – which is buying Vodafone’s Spanish

Nissan is to commit to manufacturing electric versions of two of its bestselling models at its Sunderland plant after months of talks with the government. Sky News can reveal that the giant Japanese car manufacturer will announce on Friday that it will build the electric Qashqai and Juke at the site – a decision that

Ian King looks at the chancellor’s autumn statement. Richard Hughes, chair of the budget watchdog, the Office for Budget Responsibility, or OBR, speaks about the autumn statement and the economic outlook. Dr Sai Shivareddy, chief executive of tech firm Nyobolt, also reacts to the announcements. Ian King is also joined by Steve Hare, chief executive

The electricity, phone and broadband provider arm of Shell has been fined £1.4m by the communications regulator for breaking customer protection rules. Shell Energy was hit with the fine for failing to flag contract ends and the best deals for phone and broadband customers, Ofcom said. More than 70,000 such customers were not properly prompted