Business

Nokia has revealed plans to shed up to 14,000 jobs following a slump in sales. The Finland-based telecoms technology firm, which has 86,000 staff worldwide, said it was launching a cost-saving drive across the business in a bid to boost its margins. Nokia reported a 20% fall in sales during its third quarter. Comparable net

Last month’s inflation data release completely changed the outlook for Britain’s economic policy. The number came in far below what economists had expected, prompting the Bank of England to pause its rises in interest rates, with wider implications for the state of the British economy. This month’s inflation release – covering the rise in prices

The Senedd has banned GB News from its internal TV system after a recent broadcast. Former UKIP and Brexit Party leader, and GB News presenter, Nigel Farage said the decision showed “just how awful the Welsh Labour administration is”. However, the decision to ban GB News from the Senedd‘s TV system is one for the

The rate of inflation failed to nudge downwards as expected last month, remaining at an annual rate of 6.7% according to official figures. The headline consumer prices index (CPI) measure had been predicted to slow to 6.6% in September by a Reuters poll of economists. The higher than expected number – largely a consequence of

Janet Yellen has told Sky News the United States can “certainly” afford wars on two fronts, as the conflict between Israel and Hamas threatens stability in the Middle East and the US continues to support Ukraine’s fight against Russia. Talking exclusively to Wilfred Frost ahead of a meeting of finance ministers in Luxembourg, the US

As the UK competition watchdog gives the green light for Microsoft to buy Activision Blizzard, Ian King is joined by Sarah Cardell, chief executive of the Competition and Markets Authority. Sky’s economics and data editor Ed Conway interviews Jeremy Hunt as the chancellor attends the IMF-World Bank meeting in Marrakesh. Sophie Lund-Yates, from financial service

UK wholesale gas prices have risen again and are now at their highest level since mid-February. Prices rose to nearly 135 pence a therm (a unit of heat used to measure gas) on Friday afternoon. It comes after gas costs hit a six-month high of nearly 123p a therm on Tuesday afternoon – a level

Households could face a one-off charge of £17 a year to help prevent energy suppliers from going bust. Ofgem says rising prices and the cost of living crisis meant consumers were £2.6bn in debt over the summer – a record high – piling pressure on businesses. The energy regulator argued that consumers could end up

As Israel strikes back at Hamas, Ian King looks at what the economic effects of the war might be for the region. Lucile Cornet, partner at Eight Roads Ventures Europe, joins Ian to discuss why the rapid advance of Artificial Intelligence is being embraced by young workers. And Ian speaks to Gwenaelle Avice Huet, Executive

A new free phone line has been created by the UK’s food safety watchdog to help people report suspected food fraud. Food fraud is a blanket term used by governing agencies to describe all types of food-related crime. The Food Standards Agency (FSA) says this often involves selling food or drink that isn’t what it

Ian King talks to George Lagarias from Mazars about the economic risks from the unrest in the Middle East. He also discusses the fall in grocery price inflation with Tom Steel from Kantar. We also hear all the latest market analysis from Investec’s John Wyn-Evans. Listen and subscribe to The Ian King Business Podcast here.

There are a few ways one could report the latest economic growth forecasts from the International Monetary Fund (IMF). The first way is to declare that Britain’s economy is heading for the buffers. Its economy will grow next year at the slowest rate in the G7 group of leading industrialised economies (0.6%). This is considerably

The price of oil and shares in weapons makers have risen while a growing number of airlines are adjusting flight schedules over fears related to the Israel-Hamas conflict. Ryanair was the latest carrier to reveal its plans, saying it would not fly in or out of Tel Aviv until Thursday at the earliest. The scale

Ian King speaks to the head of UK Residential Research at the real estate consultancy, Knight Frank, about house prices – which have fallen for a sixth month in a row. Plus, hear from the boss of Merlin Entertainments about its plans to launch augmented reality games at its attractions – based on hit TV

Tesco predicts that food inflation will continue to fall, as it announces a big rise in profits. Ian speaks to the executive chairman of Aston Martin, as the British luxury car manufacturer bids for overall victory at Le Mans for the first time since 1959. And the chief executive of Vertu, Robert Forrester discusses car

The founder of a sports streaming service whose customers include Manchester City Football Club, the Premier League champions, has regained control of it days after the firm collapsed into administration. Sky News understands that Andy Meikle, who founded Recast Sports in 2018, has engineered its purchase from Interpath Advisory, which was appointed to handle the

Food prices have dropped for the first month in more than two years, according to an industry lobby group that says food inflation is now in single digits. The British Retail Consortium (BRC)-NielsenIQ Shop Price Index found food inflation eased to an annual rate of 9.9% in September, which is down from 11.5% in August.

The German media giant which publishes Die Welt, one of Europe’s leading newspapers, has joined the race to buy The Daily Telegraph and its Sunday sister title. Sky News can exclusively reveal that Axel Springer has registered its interest in acquiring the British broadsheets. Insiders said the company, which also owns the Business Insider and

Energy bills in the first three months of 2024 are projected to increase before dropping later in the year, according to a closely-watched forecast. Consumers can expect more costly bills from January as energy regulator Ofgem will bring its price cap up to £1,898 for an annual average household bill – an increase of £64,

Elon Musk has announced his social media company X, formally known as Twitter, has removed the team monitoring election misinformation. The tool to report misinformation has been taken away – except for in the European Union – prompting concern from thinktank Reset Australia ahead of the country’s aboriginal rights referendum next month. In a post