Business

US interest rates are to be cut just once this year, according to updated forecasts from its central bank. The cost of US borrowing was kept at a more than 20-year high despite news on Wednesday that inflation, the rate of price rises, fell to the lowest level in more than three years at 3.4%.

A 46-year-old man has been arrested as part of a National Crime Agency investigation into PPE Medpro. The NCA is looking into suspected criminal offences in the procurement of PPE contracts by the consortium. The suspect, from Barnet, north London, was held at his home on Wednesday morning, the agency said. He was arrested on

An investigation into the accounting software the Post Office used before its controversial Horizon system has begun contacting sub-postmasters and is due to report its findings in the autumn, it has been announced. Risk advisory and financial solutions company Kroll has been appointed to conduct an independent, forensic investigation into the system called Capture which

After a very strong start to 2024, during which the UK economy achieved its strongest growth for two years, things stalled again in April. That the economy flatlined during April was no surprise, though, given a couple of factors. One was the early timing of Easter, which will have led some consumer spending that would

The UK economy flatlined in April, according to early official figures that have been seized on by the government’s critics as evidence the Conservatives’ plan is not working. The Office for National Statistics (ONS) said there was zero growth in April compared to the 0.4% figure recorded during March. A Reuters news agency poll of

The time on your ticket is 7pm, but you already know it’s not going to start then. So, what time do you get to the cinema? If you’re arriving at 7.10pm, you’re almost certainly safe, but any later and you may cut it fine. Here, we’ve gathered information from the UK’s major cinema chains and

Shifting expectations for UK interest rate cuts have contributed to a dip in house price growth, according to a closely watched measure. Nationwide reported a 0.4% dip in average property costs last month compared with March, taking the annual rate of growth to 0.6% from 1.6%. The lender’s report said the easing reflected “ongoing affordability

A former boss of Camelot, the National Lottery operator, will be named this week as the next chairman of the Post Office as ministers seek to draw a line under the ugly row surrounding the exit of his predecessor. Sky News has learnt that the Department for Business and Trade (DBT) has offered the chairmanship

Getir, the grocery delivery app, has abandoned a European expansion that is set to result in the loss of about 1,500 jobs in the UK. Sky News had previously revealed that the Turkey-based company, which means “to bring” in Turkish, had successfully raised money from investors to fund its withdrawals from the UK, Germany and

Premier Inn owner Whitbread is set to axe around 1,500 UK jobs as part of plans to build more hotel rooms and slash its chain of branded restaurants by more than 200. The company said, while announcing a 36% hike in annual profits to £561m, that it was to begin a consultation on cutting roles

The average price paid for comprehensive motor insurance rose 1% in the first quarter of the year, according to industry data indicating an easing in the steep rises seen last year. The latest tracker issued by the Association of British Insurers (ABI) showed a 1% increase on the previous three months to £635. That was

Blackstone, the American private equity behemoth, is this weekend finalising a revised offer to buy the company which owns the music catalogues of Shakira and the Red Hot Chili Peppers. Sky News has learnt that Blackstone is preparing to lodge an improved bid for Hipgnosis Songs Fund (HSF) as early as Monday. Its offer will

Jeremy Hunt is convening a summit aimed at enticing more companies to London’s stock market amid an accelerating exodus of businesses being picked off by overseas and financial predators. Sky News has learnt that the Treasury has invited the bosses of some of Britain’s most prominent private companies to attend a meeting next month at

The owner of Superdry’s flagship store in central London is weighing a challenge to a rescue plan that would impose steep haircuts on the struggling chain’s landlords. Sky News has learnt that M&G, the London-listed asset manager, has engaged lawyers from Hogan Lovells to scrutinise a restructuring plan launched by Superdry earlier this month. The