Business

The extraordinary, unprecedented and largely unexplained flows of millions of pounds of British luxury cars into states neighbouring Russia continued in February, according to new official data. Some £26m worth of British cars were exported to Azerbaijan in February, according to data from HM Revenue & Customs. The numbers show that in the latest quarter

On today’s episode, Ian King reveals Tesla’s plans to introduce new vehicle models before the second half of next year as Elon Musk’s company reports a dip in sales and net profits. He gets reaction from Daniel Ives, Managing Director at Wedbush Securities. Lloyds Banking Group also reports a dip in profits. Plus, Ryanair’s chief

Tesla’s quarterly revenue has dropped for the first time in almost four years, according to financial result filings, demonstrating why the electric carmaker is cutting prices further along with its cost base. The company, founded and run by Elon Musk, reported revenues of $23.3bn over the first three months of the year, its first quarter.

Bitcoin’s rare halving event has taken place, according to crypto analysis firm CoinGecko. It slashes the number of new Bitcoin entering the market by cutting the rewards earned by Bitcoin miners by 50%. Taking place roughly every four years, it’s designed to cap supply at 21 million by 2140. It means just 450 Bitcoin will

Tesla has recalled more than 3,800 of its Cybertruck models following complaints that the accelerator pedal is at risk of getting stuck, US regulators have announced. The National Highway Traffic Safety Administration (NHTSA) had contacted the carmaker, founded and run by Elon Musk, about the issue earlier in the week. That was after a video

The average cost of car insurance in the UK is now more than £900 according to one comparison website – that up 43% over the space of one year. Ian’s joined by Steve Dukes, Chief Executive of Confused.com to discuss what it means for premiums and payouts. Music investment company Hipgnosis has agreed to a

The price of everyday things - mainly food - is now rising at the lowest level since 2021.   Official data shows inflation eased last month to 3.2% – down from 3.4% – but the fall was slightly less than economists expected. On the Daily, Niall Paterson looks at what’s going on with inflation and what it might mean

The FTSE-250 engineering services company John Wood Group is facing fresh calls to launch a strategic review almost a year after the collapse of a £1.7bn takeover bid. Sky News has learnt that Sparta Capital Management has written to Wood chairman Roy Franklin to urge him to explore a US listing or a sale of

Global oil prices dipped slightly this morning despite rising tensions in the Middle East. Ian King is joined by Henry Allen, macro strategist at Deutsche Bank to discuss what it means and the likely impact. International motor dealer Inchcape has sold its UK retail operations for £346m to the US motor dealer Group 1 Automotive.

Microsoft is set to open a new artificial intelligence hub in London – and is looking for “exceptional individuals” to work there. The hub will work on Microsoft products that use artificial intelligence (AI) and also carry out research into the technology. It will be based at the US tech giant’s offices in Paddington. The

eBay has dropped fees for the sale of second-hand clothing. The online marketplace has scrapped any charges for the sale of pre-owned clothes as of today, in an effort to keep garments out of landfill. This means it is now free to sell second-hand clothing through the site, even if it has never been worn

Administrators to The Body Shop are drawing up plans to launch a further restructuring process in a bid to salvage a future for one of Britain’s best-known high street brands. Sky News has learnt that insolvency practitioners at FRP Advisory have outlined proposals to launch a company voluntary arrangement (CVA) that would see The Body

House prices slipped by 1% in March following five consecutive months of growth, according to new figures from Halifax. The lender said affordability remained a challenge for potential buyers as recent declines in mortgage rates have stalled. It comes as financial markets become less optimistic about the timing and extent of interest rate cuts by

Google is considering charging users for “premium” internet search results powered by artificial intelligence (AI), according to a report. The tech giant is said to be exploring several ideas about how to use the technology, including incorporating enhanced search tools as part of its premium subscription services. Google‘s main search engine would remain free to

The price of oil has climbed following a Ukrainian drone strike on Russia’s third-largest refinery. The attack on the Taneco facility, in the province of Tatarstan, appears to have been Kyiv’s deepest strike inside Russian territory since the invasion of Ukraine more than two years ago. The strike on Tuesday started a fire which took

High margins for fuel retailers may mean drivers are still paying over the odds at the pump, according to the competition regulator. In a monitoring report, following its fuel market study of 2022, the Competition and Market Authority (CMA) said fuel margins – the difference between what retailers pay for their fuel and the price

Energy bills are projected to fall by less than expected this summer and autumn due to an increase in wholesale prices, according to a closely-watched forecast. The energy price cap projection in both quarters – July to September and October to December – has risen by around 7% since predictions made last month. This means

Shares in former US president Donald Trump’s media firm have soared on their stock market debut in New York, leaving his majority holding worth more than $5bn (£4bn) on paper. Trump Media & Technology Group (TMTG), the vehicle for his social media rival to X called Truth Social, gained 40% when trading got under way

Apple, Meta and Google’s parent company are being investigated by the European Union under new laws designed to clamp down on the market power of the world’s tech giants. The Digital Markets Act (DMA) came into force at the beginning of March and aims to tackle “gatekeeping” behaviour among tech giants. If the companies are

Bahrain’s sovereign wealth fund has completed a deal to take full ownership of McLaren Group, one of the most revered names in British manufacturing, after years of negotiations to put the company on a stable long-term footing. Sky News understands that McLaren will announce later on Friday that the recapitalisation of the supercar manufacturer and