Business

The British supercar maker McLaren Group has bolstered its board with a trio of appointments including the former boss of Rolls-Royce Motor Cars. Sky News can reveal that Torsten Muller-Otvos was recruited as a non-executive director of the Surrey-based company earlier this month. Chaired by the former Diageo chief Paul Walsh, McLaren has also recruited

The rate of price rises in UK shops has returned to “normal levels”, according to new industry figures. Overall annual shop price inflation eased to 0.6% in May, down from 0.8% in April, the British Retail Consortium (BRC) and NielsenIQ said. The figure is the lowest since November 2021. Please use Chrome browser for a

An Indian pharmaceutical group is closing in on a deal to snap up Nicotinell, the anti-smoking aid, from Haleon, its FTSE-100 parent company. Sky News has learnt that Hyderabad-based Dr Reddy’s Laboratories could be within days of acquiring the brand and a number of lesser-known European products from Haleon. Sources said a deal was likely

The reason for the fall in the household energy price cap is pretty straightforward – wholesale electricity and gas prices have fallen since the price cap was last set in February this year. Wholesale gas and electricity prices make up by far the biggest proportion of the energy bills – £720 of the current £1,690

Kabosu, the dog behind the “doge” meme, has died at the age of 18 after enjoying more than a decade of internet fame. The Japanese shiba inu had been suffering from leukaemia and liver disease. “To all of you who loved Kabosu, on the morning of the 24 May, Kabosu crossed the rainbow bridge. Thank

The average annual energy bill will be £506 cheaper than a year ago from July, the sector’s regulator has announced. The energy price cap – which limits what can be charged per unit of energy – is due to fall from the month after next. It means the average annual bill will be £1,568 a

Plans for a multibillion pound mass market sale of the government’s stake in NatWest Group have been derailed by Rishi Sunak’s decision to call a summer general election. Sky News can reveal that a proposed retail offer of shares in the taxpayer-backed bank will be scuppered by the timing of the poll. The Treasury has

The International Monetary Fund (IMF) has said the UK economy is heading for a “soft landing” but reiterated its message to Jeremy Hunt that he should not have cut national insurance at the last two fiscal events. In its annual check-up on the state of Britain’s economy, the Washington-based Fund also warned of a black

The rate of price rises has dropped to 2.3% in April – the lowest in nearly three years and closer to the Bank of England’s target, according to official data. Inflation is at a low not seen since July 2021, the Office for National Statistics (ONS) said. Money latest: Do Sunak and Hunt deserve any

Sajid Javid, the former chancellor of the exchequer, has been approached about taking a role at Shein, the online fashion giant which is progressing plans for London’s biggest stock market float for years. Sky News has learnt that Mr Javid is among a number of senior City figures who have held talks with Donald Tang,

Marks & Spencer’s website and app has not been working for several hours, with a message telling shoppers “you can’t shop with us right now”. “We’re working hard to be back online as soon as possible,” it adds. All the menus and images have disappeared apart from one showing a model in a green jacket.

The Body Shop’s administrators are to launch an auction of the chain after concluding that an alternative restructuring of one of Britain’s best-known high street retailers was not viable. Sky News has learnt that FRP Advisory, which has been overseeing the collapsed business since January, is to begin formally sounding out potential buyers in the

The new British boss of Wefox, one of Europe’s biggest insurance technology companies, has warned investors that it could face collapse within months as it contends with a slew of regulatory and financial challenges. Sky News has learnt that Wefox believes it could become insolvent by the summer unless it can secure the sale of

People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds. Money latest: Struggling iconic

The housing market is “finding its feet” with a slight increase in prices, particularly for flats, according to analysis from part of the UK’s biggest mortgage lender. Average house prices rose by 0.1% in April after falling 0.9% in March but on an annual basis grew 1.1% annually, up from 0.4% growth last month, Halifax’s

Apple is trying to fix a problem which caused some iPhone alarms to not go off. Users have been complaining they were missing their alarms. “This has probably been the third or fourth day in a row that my alarm clock has not gone off,” one TikTok user Reid Manning said. It is unclear how

Chinese manufacturers receive nine times more government support than their Western counterparts, according to calculations from the Organisation for Economic Co-operation and Development (OECD) which help explain the country’s complete dominance in so many sectors, from solar panels and batteries to steel. The figures produced by the OECD show that Chinese businesses benefit from government

Ian King discusses Nationwide’s figures showing a surprise fall in UK house prices, which are down for the second month running. He’s also talking to a company that’s installed its first Electric Vehicle charge point powered from a street cabinet. And Ian speaks to the founder of a new platform that claims to give retailers

Hotel chain Premier Inn has been banned from advertising rooms “from only £35 a night” by the advertising regulator. The Advertising Standards Authority found that an online ad from November, saying “Premier Inn Edinburgh – rooms from only £35 per night.” was “likely to mislead” viewers. Premier Inn’s owner Whitbread showed the watchdog there were

The average price paid for comprehensive motor insurance rose 1% in the first quarter of the year, according to industry data indicating an easing in the steep rises seen last year. The latest tracker issued by the Association of British Insurers (ABI) showed a 1% increase on the previous three months to £635. That was