Business

Workers are set to see more money in their pay packets as a rise in National Insurance is being reversed today. National Insurance contributions rose by 1.25 percentage points in April as part of plans to help pay for social care and deal with the NHS backlog. Most employees will see a cut to their

Twitter has started rolling out its revamped subscription service that allows anyone to pay for a verification badge. An update to the platform’s iOS app, launched on Saturday, says the new-look Twitter Blue is now live, with the checkmark on your account listed among the perks of paying $7.99 a month. “Power to the people:

Grant Shapps, the new business secretary, will hold crunch talks next week with the owners of Britain’s second-biggest steel producer, amid dwindling hopes that a government aid package will prevent thousands of job losses. Sky News has learnt that Mr Shapps will speak to Jingye Group executives on Monday in an attempt to persuade the

Elon Musk has defended sacking half of Twitter’s 8,000 workers, saying “unfortunately, there is no choice”. Mr Musk insisted that the platform’s commitment to moderation remained “absolutely unchanged”. He tweeted: “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4m a day. “Everyone exited was offered three months

Hundreds of workers at Heathrow will walk out in the run-up to the World Cup finals this month over demands for better pay. Unite said 700 staff, who are involved in ground-handling, airside transport and cargo and are employed by dnata and Menzies at Heathrow, will strike for three days starting from 18 November. The

Let’s start with what we do know. The economy is now almost certainly in recession. It will not be pleasant. This is a recession which will be felt in most households’ pockets – both through the rise in energy prices and shop prices and the rise in the cost of borrowing. And when it comes

The Bank of England has raised the base rate of interest by 0.75 percentage points to 3% – the single biggest increase in more than three decades – and said that the UK is already in recession. The Bank warned that the UK could face a protracted contraction in the coming years, with high inflation

The Bank of England is expected to unveil the biggest interest rate rise in decades today. A hike of 0.75 percentage points is anticipated – pushing the base rate to 3%, levels that have not been seen since 2008. If confirmed, this could push up mortgage bills for millions of people in the coming months.

The boss of Britishvolt, the start-up building a battery gigafactory in Northumberland, has told Sky News that staff have agreed a “substantial” temporary pay cut as it continues work to shore up its financial future. Chief executive Graham Hoare refused to tell Ian King Live about the figures involved, but added that the executive team

Food inflation surged to a record 11.6% in October – with staple items including tea bags, milk and sugar all seeing significant price rises. Overall, shops increased prices by 6.6% in the 12 months to October – the highest level since records began in 2005. But fresh food has been most vulnerable to surging costs,

Royal Mail has experienced a data breach where customers have seen the information of others users. A statement on Royal Mail’s Click and Drop status updates website said: “We have been made aware there was an issue affecting Click & Drop that meant some customers could see other customer’s orders. “As a protective measure, we

Tax rises are “likely” to come soon as the government faces an “unpalatable menu” to find ways to fill a £40bn fiscal black hole, a leading think tank has warned. A Resolution Foundation report suggests Rishi Sunak and his Chancellor Jeremy Hunt face a thankless task to re-balance the nation’s finances after former chancellor Kwasi

Instagram has said it is looking into why thousands of users have suddenly had their accounts suspended. Users around the world have posted on other social media platforms to ask why they have been locked out of their profiles, having received a message saying: “We suspended your account on October 31, 2022.” “We’re aware that

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

The next operator of the National Lottery is in talks to buy the incumbent, Camelot, in a £100m deal that would pave the way for the removal of the latter’s final legal challenge against the industry regulator. Sky News has learnt that Allwyn Entertainment is in advanced discussions with Camelot’s Canadian owner about a takeover

Octopus Energy has sealed its deal to buy Bulb, a collapsed energy rival that has been funded by billions of pounds in government support for nearly a year. Octopus said it is taking on Bulb’s 1.5 million customers “bringing an end to taxpayer losses and uncertainty for Bulb customers and employees”. It added: “Octopus is