Sky News analysis of new data shows that it is becoming increasingly difficult to buy a home, especially for people in the parts of the country on the lowest incomes. Rents are also rising, albeit at a more moderate pace, with the exception of London where prices are actually falling. The price of the average
Business
Households in Britain could soon be spending more of their money on energy than any previous generation, including during the oil shocks of the 1970s and ’80s, according to Sky News analysis. If the energy price cap rises in line with current wholesale prices, by the end of the year the share of family expenditure
An advert that shows two girls hanging upside down while eating Dairylea cheese triangles has been banned after people complained it could encourage dangerous behaviour. The video on demand ad, broadcast on ITV Hub, All 4 and My 5 in August, featured the pair hanging upside down from a football goal before one opened the
The poorest families will be hit disproportionately hard when the Energy Price Cap rises in April – according to analysis by the charity The Joseph Rowntree Foundation. They say some of those earning the least could end up spending 54% of their household income on energy bills when the price cap goes up, leaving them
Amazon has announced that it will not stop accepting Visa credit cards for UK payments later this week as had been planned. In an email to customers, the online retailer said it was “working closely with Visa on a potential solution”. The move had been due to take effect on 19 January with Amazon blaming
There is no winter sport resort quite like Chamonix. Nestled in the shadow of Mont Blanc, it has a glittering history and a reputation for challenging even the best skiers. People travel from all around the world to try their luck on these slopes. And now, the British can join them once again. For nearly
A former executive at Farfetch, the online luxury fashion platform, is a contender to become the next boss of ASOS, the £2.3bn digital retailer. Sky News has learnt that Andrew Robb, who left Farfetch in 2020, is among the candidates being considered by the London-listed company as the successor to Nick Beighton. The choice of
The high street retailer WH Smith has been plunged into a major pay row with investors amid heightened tensions over boardroom rewards as Britain grapples with a deepening crisis over pressure on household bills. Sky News has learnt that three of the main proxy advisers which issue guidance to City shareholders ahead of annual meetings
Lord John Sainsbury of Preston Candover – the former chairman of the supermarket chain – has died aged 94. The supermarket’s current chairman and chief executive announced the death of the Baron on Friday evening, saying he had lived a “remarkable life”. Martin Scicluna said: “We are all deeply saddened to learn of the death
Customers can expect to pay more for electrical and tech goods in 2022 with price increases “inevitable”, the boss of Currys has told Sky News. Speaking to Ian King Live, group chief executive Alex Baldock pointed to rising costs ranging from components and transport through to wages. However, he said the electrical retail giant would
Britain’s economy grew stronger than expected in November before the Omicron variant struck, bouncing back for the first time above pre-pandemic levels. The Office for National Statistics (ONS) said gross domestic product (GDP) had risen 0.9% during the month, up from a just 0.1% rise in October. Analysts had predicted a 0.4% rise in November.
Facebook in the UK is being sued for billions of pounds amid claims more than 44 million users had their data exploited. Competition law expert Dr Liza Lovdahl Gormsen has launched the class-action lawsuit against Facebook’s parent firm, Meta, at the Competition Appeal Tribunal, accusing the technology giant of abusing its market dominance, and seeking
An estimated 3% of the UK workforce was off work in late December while a fifth of businesses reported increased cancellations over the past month amid the surge in the Omicron variant, according to data released by the Office for National Statistics (ONS). The number-crunchers reported that 21% of firms had seen a rise in
Ovo Energy, the UK’s third-biggest gas and electricity supplier, is to cut a quarter of its workforce as part of a restructuring aimed at saving costs amid the deepening industry crisis. Sky News has learnt that Ovo could announce details of its plans as soon as Thursday, with roughly 1,700 out of 6,200 roles expected
US inflation has hit 7% for the first time in 40 years in the latest sign of the cost of living pressures squeezing consumers across the globe. Surging prices for used cars – up 37% on the same period last year – and higher rental costs helped drive the consumer price index (CPI) measure up
UK households have experienced the biggest slump in their financial wellbeing as a surge in the cost of living takes its toll, a new survey suggests. A quarterly household finance index compiled by Scottish Widows fell to 40.1 in the final quarter of last year, down from 44.0 in the third quarter. It was the
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