Business

Ford has announced plans to cut 4,000 jobs across Europe – including 800 in the UK. The car manufacturer said the cuts are needed as part of plans to bolster its competitiveness amid the stuttering drive to an all-electric vehicle (EV) future that has hit sales. Ford said the cuts would take place over the

Energy bills are to rise again next year, according to a respected forecaster. Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of

An AI software company which counts Britain’s largest gas distribution network among its clients will this week announce that it has secured $15m (£11.6m) in new backing from a syndicate of leading venture investors. Sky News understands that Cogna, which launched last year, has landed the funding from Notion Capital, with backing from Hoxton Ventures

Millions in incorrect fines were mistakenly handed to drivers over a major route in the UK in 12 months, according to a new investigation. Figures obtained by the PA news agency show National Highways cancelled 59,007 fines at the Dartford Crossing, which connects Thurrock in Essex with Dartford in Kent. These penalty charge notices amount

Australia’s government has pledged to introduce what it described as “world-leading” legislation to ban children under the age of 16 from social media. “Social media is doing harm to our kids and I’m calling time on it,” Australian Prime Minister Anthony Albanese said. “I’ve spoken to thousands of parents, grandparents, aunties and uncles. They, like

Every Monday in our Money blog, we answer questions about your financial problems or consumer disputes. This week, a reader asked what rights they had after a bad haircut. Reader Tim asked: “I’ve just moved to Norwich for work and went to a new barber. The barber didn’t listen and cut way too much at

Donald Trump’s victory was secured on an unequivocal promise to stretched American households that he would “end inflation”, but markets and economists are anticipating his second term will do the opposite. A combination of corporate tax cuts, government borrowing, lower migration and swingeing tariffs on overseas imports are all expected to heat up the American

An influential Manchester United supporters’ group has demanded that the club’s owners revive plans for a fan share scheme, which remains on ice nearly three-and-a-half years after it was initially promised. Sky News has learnt that the Manchester United Supporters’ Trust (MUST) wrote to Joel Glazer, Sir Jim Ratcliffe and Omar Berrada, the club’s new

One of the world’s largest investment firms has waded into the fight over the future of Thames Water, the water utility which is racing to stay afloat. Sky News has learnt that KKR is in talks with Thames Water and its advisers about participating in a £3bn share sale which forms part of a wider

The cost of government borrowing has jumped, while UK stocks and the pound are up, as markets digest the news of billions in borrowing and tax rises announced in the budget. While there was no panic, there had been concern about the scale of borrowing and changes to Chancellor Rachel Reeves’s fiscal rules. At the

In the lead up to this week’s budget, the government has been criticised for strongly hinting at a number of policies coming down the pipeline. But that signalling of what today’s budget would mean for companies appears to have contained much of the market fallout, with steep tax rises coming as little surprise. That’s not

Volkswagen is planning to shut at least three factories in Germany and lay off tens of thousands of staff. Its remaining plants in Germany are also set to be downsized, according to the head of the company’s works council Daniela Cavallo. Europe’s biggest carmaker has spent weeks negotiating with unions over its plans to revamp

Money blog reader Jane T asks: “I want to put my house on the market. One of the previous owners was stabbed to death by a family member in the house. Do I need to tell prospective owners?” We asked Johnny Drysdale, residential property partner at Keystone Law, to answer this one… Johnny says transparency

Britain’s fourth-biggest household energy supplier has poached a senior executive from Monzo, the digital bank, as it explores options that could lead to a change of ownership. Sky News understands that OVO has recruited James Davies, who has worked for companies including William Hill and Purplebricks, the online estate agent, to become its new chief

A residential energy services provider backed by leading City investors has secured a £50m funding boost from one of the world’s biggest pension funds. Sky News understands that Hometree, which counts Legal & General (L&G) among its investors, will this week announce that it has agreed a mezzanine debt facility with a subsidiary of Canada

The price of oil has hit a six-week high amid fears over the escalating conflict in the Middle East. The market value of the benchmark Brent crude increased to almost $80 (£61) a barrel on Monday, following last week’s gains of 9.1%. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen

Israel is fighting on at least four fronts, threatening a war across the oil-rich Middle East, but there is no great sense of fear yet as far as financial markets are concerned. Israel’s actions against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen and the ultimate sponsors of these groups, Iran, has proved

The managing director of Harrods has accused his former boss Mohamed Al Fayed of presiding over “a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct”. Five women have alleged they were raped by Fayed, who died last year at the age of 94, with several others alleging sexual misconduct. In a written

Jaguar Land Rover (JLR) has revealed a further £500m investment in its Halewood plant on Merseyside to bolster future production of all-electric cars at the site. The country’s largest automotive manufacturer, which revealed plans in 2023 to produce the first emission-free model at Halewood in early 2025, is now targeting a timeframe later that year.

Police have arrested three people and seized more than £100,000 wrapped in nappies as part of an investigation into the sale of fake airbags. City of London Police carried out early morning raids in Leyton and Ilford, east London, seizing 500 counterfeit airbags and £140,000 in cash. Around £110,000 was hidden in nappies in a