Business

The energy price cap is set to fall again, according to a closely-watched forecast, as the energy regulator has said the average home is using less energy. The average household will be paying roughly £200 less from autumn than they are from next month, but still “well above” historical levels, energy research specialist Cornwall Insight

Bosses of The Daily Telegraph’s parent company will instruct bankers within weeks to launch an auction of one of Britain’s best-known newspaper publishers. Sky News has learnt that Nick Hugh, the chief executive of Telegraph Media Group (TMG), told staff on Tuesday that the new board of Press Acquisitions was in the process of hiring

The National Grid Electricity Systems Operator (ESO) has confirmed it will have no coal-fired power as back-up this winter, if needed, to help keep the lights on. There were five contingency units to call on last winter as the energy market reeled from the impact of Russia’s war in Ukraine. They were warmed up several

Manchester United have raised their forecasts for annual revenue and profit, weeks after the club secured its place in next season’s Champions League. The club, which is seven months into a sale process, said stronger commercial and matchday revenue over the last season was tipped to push total revenue to a record between £630m-£640m in

Microsoft’s record takeover bid for video games giant Activision Blizzard has gone before a US federal court. The Windows and Xbox maker wants to buy the company best known for the Call Of Duty, Warcraft, and Diablo franchises for $69bn (£54.2bn). It would be the largest tech acquisition ever. But the UK competitions watchdog blocked

After UK inflation remained at the same level in May, Ian King reflects on the figures with HSBC economist Liz Martins. Managing director for operations at the World Bank, Anna Bjerde, speaks about how the rebuilding of Ukraine can be managed and financed. Parker Conrad from HR platform Rippling discusses how companies like his support

A pair of British executives are seeking to buck the trend of waning sentiment towards special purpose acquisition companies (SPACs) by establishing a £1bn listed vehicle for investors to access the Lloyd’s of London insurance market. Sky News has learnt that Financials Acquisition Corp (FINSAC), which floated in the UK in the spring of 2022,

As smartphone screens have got bigger, and laptops more powerful, tablets have gone through something of an identity crisis. Once pitched as an obvious middle ground between the computer in your pocket and the one on your lap, the thinking behind them seems increasingly muddled. There are iPads for people who want a keyboard and

A Spotify executive has spoken out about the scrapping of Harry and Meghan’s $20m (£15m) deal with the streaming service, calling the royal couple “f****** grifters”. Bill Simmons, who is head of podcast innovation and monetisation, criticised the pair after it was announced they were being dropped by Spotify for reportedly not creating enough content.

Britain is facing a deepening “mortgage crunch”, with households already wrestling with the cost of living crisis facing yet a further squeeze on their budgets. It has been warned that those renewing their property loans next year will end up paying out on average an extra £2,900 annually. Most expensive items in a summer BBQ

Annual mortgage repayments are set to rise by £2,900 for the average household remortgaging next year, according to a think tank. As the UK’s “mortgage crunch” deepens, total annual mortgage repayments could rise by £15.8bn by 2026, the Resolution Foundation said. Prolonged inflation has raised expectations that the Bank of England’s base rate-rising cycle, which

The operator of Britain’s electricity system says it is to keep a scheme that aims to help prevent blackouts for the coming winter. National Grid ESO said it was “prudent to maintain” the demand flexibility service (DFS), which was introduced in 2022 in the wake of Europe’s gas squeeze caused by the war in Ukraine.

Mortgage payers taking out new loans today are now facing the biggest home loan squeeze since the early 1990s housing crash, with the pain only set to worsen in the coming months. The average rate on a new five-year mortgage has now ticked up to 5.54%, according to Moneyfacts. This is, in headline terms, the

Household supplier E.On Next has been told to pay £4m back to its customers following a review that found customer service weaknesses at every company in the sector. Ofgem ordered the money be shared by 500,000 households in compensation for the firm’s “unacceptable” call services. It works out at £8 each. An additional £1m is

The Daily Telegraph newspaper has inched closer to a sale after Lloyds Banking Group seized control of its parent firm over unpaid loans and placed it in the hands of receivers. Sky News has previously reported how the bank was understood to have undertaken the drastic move and was in the process of appointing investment

The president of Microsoft has met with the chancellor amid efforts to overturn the competition watchdog’s decision to block its planned takeover of Activision Blizzard. Brad Smith said in a meeting with Jeremy Hunt that he would try to work with regulators to win approval for the technology giant’s $69bn (£56bn) purchase of the Call

Energy producer SSE has been hit by a nearly £10m fine for charging the national grid – and bill payers as a result – too much money to power down during times when electricity infrastructure can’t take all the traffic on the system. Energy regulator Ofgem levied the £9.8m fine against SSE for breaching its

US regulators have filed a lawsuit against cryptocurrency exchange Binance alleging a string of violations including the misuse of investor funds. Cryptocurrencies and shares in crypto and blockchain-related companies tumbled after the Securities and Exchange Commission (SEC) revealed 13 charges against the world’s largest exchange and its founder Changpeng Zhao. The watchdog claimed they artificially

Apple is expected to announce a mixed reality headset – its first brand-new product for eight years – at its annual event for developers. The tech giant’s WWDC showcase is usually reserved for software reveals – notably the next major updates for its iPhones, iPads, and Macs – but this year fresh hardware is on

The price of diesel fell by almost 12p last month – a record drop, according to new figures. The RAC said the average price per litre was now 147p, down from 158.9p at the start of May – making it the seventh consecutive month prices have fallen. It means the cost of a typical 55-litre