Business

Twitter’s new owner Elon Musk has denied a report he plans to lay off employees before the start of next month to avoid having to make special payouts as part of their compensation deal. In a response to a Twitter user asking about the redundancies reported in the New York Times, Musk tweeted simply: “This

Wilfred Frost steps in for Ian King for today’s podcast and discusses Elon Musk’s $44bn takeover of Twitter. He also sits down with the founder of Gymshark to hear how he went from working out of his garage to opening a flagship store in central London. And Wilfred speaks with the CEO of NatWest about

Elon Musk has been seen entering Twitter HQ – carrying what appears to be a sink. Mr Musk tweeted a video showing himself walking into the building in San Francisco a day after reports that he could close his $44bn takeover of the site by the end of this week. The 51-year-old captioned the video:

Ford has announced the end of the UK’s best selling car – the Fiesta. By the end of June next year, no more Fiestas are to be produced in the manufacturer’s factory in Cologne, Germany. The Fiesta was the UK’s best-selling car with 4,804,098 sold, according to data from the Society of Motor Manufacturers and

A company that supplies electricity to more than 300,000 British households is seeking tens of millions of pounds of additional funding amid continued industry turmoil. So Energy has appointed advisers from Interpath to raise more than £50m to fund itself through next year. The search for new capital comes a year after the Irish energy

The financial markets appear to have welcomed news that Rishi Sunak will be the UK’s next prime minister. The pound was up 0.15% against the US dollar just moments after Sir Graham Brady, chairman of the 1922 committee, said that only one valid nomination had been received for the top job. On Friday afternoon, the

Moody’s rating agency has cut its UK’s financial outlook to negative but maintained its sovereign rating at Aa3. On Friday, the agency lowered the UK’s outlook to negative from stable, citing policy uncertainty amid high inflation and weaker growth prospects. Moody’s said the government’s “ability to engender confidence in its commitment to fiscal prudence” will

Millions of households are skipping meals or struggling to put healthy goods on the table, according to a new poll, with many cutting back on food bills and luxury treats “to navigate the tough months ahead”. Around 85% of people in the UK are spending less on food shopping as a result of the cost

Tesla, the publicly listed company headed by the world’s richest man, Elon Musk, delivered nearly 350,000 cars from July to September this year – a record number but short of analysts’ expectations. The electric car maker delivered 343,830 cars across the three months thanks to increased production in China, a figure that was less than

One of the UK’s best-known online florists is hunting for fresh capital after raising millions of pounds from prominent venture capital investors. Sky News understands that Floom has drafted in advisers from Interpath to advise it on strategic options which could include a sale. Operating in the UK and US, Floom provides a trading platform

The City stockbroker controlled by Bob Diamond, the former Barclays chief, is plotting a merger with one of its listed rivals as a slowdown in corporate activity drives a search for bigger cost savings. Sky News has learnt that Panmure Gordon, in which Mr Diamond’s Atlas Merchant Capital took a majority stake in 2017, has

Annual energy bills could reach £4,347 for an average household after the government announced the two-year price freeze will now run for just six months. New chancellor Jeremy Hunt said the universal energy price guarantee will finish next April, with a review being launched on how to then support bills after this period. The government

US inflation dropped to 8.2% over the 12 months to September. The US Bureau of Labor Statistics (BLS) said the consumer price index (CPI), the measure of inflation, was down from 8.3% in the year to August. The raise was driven by the increased cost of shelter, food, and medical care. If food and energy

New research by Oxford Economics suggests house prices are currently overvalued by around 30%, and are likely to fall. Andrew Goodwin, chief UK economist at Oxford Economics, joins Ian King to discuss the outlook. He also speaks to chief executive and co-founder of GridBeyond, Michael Phelan, about smart energy. Listen and subscribe to The Ian

A government minister has failed to rule out energy rationing across the UK this winter after warnings three-hour power blackouts could be imposed. Asked on Sky News whether the measure – not seen in the UK since the 1970s – would be brought in, climate minister Graham Stuart said the government did not “expect that

The latest snapshot on the UK housing market sees “significant downward pressure” on prices as mortgage costs rise. The monthly report by Halifax showed just a 0.1% dip in prices last month from August but that the annual rate of growth had slowed from 11.4% to 9.9%. Its commentary focused on tougher affordability amid the

On today’s episode, Ian King speaks to an energy expert about fuel prices increasing and warnings about gas supplies. There’s also a discussion about how investors are staying away from gold. And he chats to a teacher-turned-landlord, whose pub has just been named ‘Great British Pub of the Year’. :: Listen and subscribe to The

Two million fewer barrels of oil are to be produced each day, equivalent to 2% of global supply, the Organisation of the Petroleum Exporting Countries (Opec) and Russia have agreed. The move is an effort to increase prices in countries feeling the heat from high energy costs. Members Saudi Arabia and Russia have led the

The taxpayer support for household energy bills could cost up to £140bn in an “extreme” scenario, an energy market expert has warned. Cornwall Insight, which became a prominent voice in predicting levels for the energy price cap before it was replaced by the government’s energy price guarantee (EPG) this month, said its findings showed a

It never rains but only pours at Credit Suisse. Switzerland’s second largest lender has stumbled from one crisis to another in recent years. There was the corporate spying scandal three years ago in which the bank was accused of hiring a private detective after one of its former executives had defected to a rival. Shortly