Business

A group of trading nations known as BRICS, which is hoping to rival the G7, is set to grow in size after inviting six new countries to join – including Iran and Saudi Arabia. BRICS – which has, until now, comprised of Brazil, Russia, India, China, and South Africa – announced the proposed expansion at

Energy bills are to rise higher than last year for millions this winter, despite the energy price cap falling, a think tank has said. Withdrawn energy supports and a rise in the daily standing charge will mean winter bill costs going up for one in three English households, the Resolution Foundation said. That’s despite the

A major US bank has been fined £5.4m by the UK’s energy regulator for failures to record and retain communications between traders. Ofgem said that the penalty imposed on Morgan Stanley & Co International plc (MSIP) was the first of its kind and related to discussions over WhatsApp between January 2018 and March 2020. The

Falling house prices and record wage growth has meant houses have become more affordable on paper, but the rising cost of borrowing has cancelled out any benefit. The cost of a typical UK home is 6.7 times average earnings, down from a peak of 7.3 last summer, according to analysis from the country’s biggest mortgage

Microsoft lashed out in April when the UK’s competition regulator blocked the biggest gaming takeover in history. The tech giant suggested that the decision showed the UK was not a place to do business. But after the deal was approved in the EU and attempts to block it were stifled in the US, the CMA

The UK’s competition regulator has launched a fresh investigation into Microsoft’s proposed £55bn takeover of Call of Duty maker Activision Blizzard after the tech firm offered a new remedy in a bid to get the deal over the line. The Competition and Markets Authority (CMA) confirmed on Tuesday that it stood by its final decision

A technology platform specialising in regulatory compliance will this week outline plans to join the London stock market in a welcome, and rare, boost to the City. Sky News understands that RTOP, which works with clients in the financial services sector, is to announce that it is pursuing a direct listing in London – a

Flights to and from Edinburgh Airport were temporarily suspended on Monday morning after a runway required emergency repairs. Four flights were diverted and planes scheduled to take off were held back “for a short period”, the airport said. Maintenance crews were called to fix the issue on the side of the taxiway after the alarm

Ben Stokes, the England Test cricket captain, and former team-mate Stuart Broad are among a group of leading sportsmen backing a new venture capital fund targeting a distinctive position in the crowded arena of early-stage investments. Sky News can reveal that two of the pivotal figures in England’s recent Ashes series recovery to draw the

Chinese authorities have unveiled fresh measures aimed at propping up investor confidence in the country’s stock market. The main securities regulator, the China Securities Regulatory Commission, said it would introduce a number of measures aimed making it easier to trade. These include cuts in the cost of trading, via a reduction in the handling fees

The energy price cap is set to fall again resulting in cheaper electricity and gas bills, according to a closely-watched forecast. Energy bills in the final three months of 2023 are projected to drop before increasing in 2024, according to research firm Cornwall Insight, as they expect strikes at Australian gas facilities will bring up

A broadband provider has been slapped down by the advertising watchdog for misleadingly implying the existence of 6G. 6G Internet was the subject of a complaint about claims on its website and in a leaflet. 6Ginternet.com displayed the company logo and the promise of “full fibre speeds at affordable prices”, with an entire page dedicated

DAZN Group, the streaming service owned by Sir Len Blavatnik, is buying a women’s football content platform amid burgeoning global interest in the sport. Sky News has learnt that DAZN has struck a deal to acquire ata football, which is backed by the Miami-based sports investment firm 777 Partners. City sources said the deal could

The owner of the Daily Mail is in talks with prospective backers of a bid for The Daily Telegraph  - a deal that would underline its proprietor’s status among the most powerful figures in British media. Sky News has learned that Lord Rothermere, chairman of both DMGT and its consumer division dmg media, is courting

News Corporation has reported a 75% fall in profits – but says it is optimistic about the future thanks to the “remarkable opportunity” of AI. The media giant said it achieved net income of $187m (£147m) to the year ended 30 June, down sharply on $760m (£598m) the previous year. But chief executive Robert Thomson

Food prices may not fall at all, the chief economist at the Bank of England has said. The cost of sustenance “could still remain higher than it was” before the invasion of Ukraine caused the rate of food price rises to accelerate. “Unfortunately the days of seeing food prices fall, that does seem to be

Consumers spent less in shops as wet weather dampened demand for typical seasonal goods in July, latest figures show. Total UK retail sales increased 1.5%, according to the retail sales monitor from retail representative British Retail Consortium (BRC) and big four accountancy firm KPMG. But at the same time official figures showed the rate of

House prices fell by 2.4% in the year up to July – but there are signs the market is showing ‘resilience’, according to the Halifax. The fall in property values is less than the 2.6% annual decline it recorded in June, which was the biggest annual drop in more than 10 years. Month-on-month, house prices

A final decision is in sight for Microsoft’s protracted bid to acquire the maker of Call Of Duty now that the UK’s competition regulator has closed its public consultation on the matter. The Competition and Markets Authority will consider comments from the public – which were submitted over the past week – and Microsoft’s amended

UK car sales have grown all year, despite borrowing becoming more expensive and a cost of living crisis creating difficult financial conditions for consumers. The number of new cars registered grew 28% in July, compared to a year earlier, in the seventh month of growth this year, according to data from the Society of Motor