Business

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 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

“Workers united, will never be defeated!” a man shouts into a loud hailer. He is part of a crowd marching through the streets of Manchester in a May Day parade, organised by some of Britain’s biggest trade unions. The sun is shining and there’s a festival atmosphere, as his fellow marchers hold aloft placards about

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

Apple has apologised for its new iPad Pro advert where it crushed cameras, books and musical instruments, saying it “missed the mark”. The advert – shared online by Apple chief executive Tim Cook – also featured creative tools such as a record player and a metronome being crushed in an industrial press. It was intended

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

Authorities in California have been mocked over a “billion-dollar” bridge to nowhere. The state government of California has long planned for a Los Angeles to San Francisco high-speed rail project. Despite initial funding being approved back in 2008, the line is still a long way off and expected to cost over $100bn in total. So

Tech giant Apple has recorded the biggest drop in iPhone sales since the early months of the COVID pandemic. Sales for January to March were down 10% on the same period last year – something not seen since the 2020 iPhone model was delayed due to lockdown factory closures. Overall, Apple earned $90.8bn (£72.4bn) in

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

A unit of Sony, the giant Japanese conglomerate, is investing millions of pounds in a British insurance start-up which has amassed more than 200,000 customers. Sky News understands that Urban Jungle will announce this week that it has raised $14.4m (£11.2m) from existing investors including Sony Innovation Fund. The funding will take the total sum

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