Business

A former Post Office executive who celebrated the conviction of a pregnant sub-postmaster has said sorry. Former managing director David Smith made the apology to the Post Office Horizon IT inquiry, which is investigating who knew what and when about the faulty accounting software that ruined lives and led to the conviction of hundreds of

A Greek energy and metals group has picked two of Wall Street’s biggest banks to prepare it for a UK listing that could propel it into London’s blue-chip share index. Sky News has learnt that Mytilineos, an Athens-listed industrial conglomerate, is working with Citi and Morgan Stanley on a London Stock Exchange flotation that would

The investor trying to take control of Everton Football Club has pushed back its target date for completing the deal as it scrambles to raise hundreds of millions of pounds to fund it. Sky News has learnt that 777 Partners has told stakeholders including the Premier League and prospective lenders that it now expects its

China ramped up coal power capacity last year, according to new analysis, despite a pledge to “strictly control” the dirtiest fossil fuel. The country added 47.4 Gigawatts (GW) of new coal power in 2023, more than double the amount added by the rest of the world combined. It raises concerns that gains in clean power,

More than seven million people in the UK were struggling with bills and credit repayments in January, according to a financial watchdog. The number is down significantly on the 10.9 million people in the same position in January 2023. However, it’s still above the 5.8 million recorded in February 2020, before the pandemic and the

Post Office victims campaigner Alan Bates has told the inquiry into the Horizon IT scandal that it was “pretty obvious” the organisation “were after me – one way or another”. Mr Bates was also described as “unmanageable” by a former senior figure at the organisation, documents disclosed at the inquiry into the Horizon IT scandal

The UK Post Office Horizon Public Inquiry resumes this week almost four years after it began. Public and political interest in the industrial-scale miscarriage of justice suffered by sub-postmasters was transformed by a television drama. Since 2020 retired judge Sir Wyn Williams has been probing the circumstances that led the Post Office to prosecute more

Ted Baker is to shut 15 of its stores across the UK within weeks, the retailer’s administrators have announced. Around 245 staff will be made redundant. It comes after Sky News revealed that hundreds of jobs were at risk after the company behind the brand’s UK shops, No Ordinary Designer Label Limited (NODL), collapsed last

What train operators are affected? c2c No c2c trains will run on Monday, with its managing director Rob Mullen saying he was “really disappointed” an agreement hadn’t been reached. “The impact of this ongoing action is significant for our customers and colleagues,” he said. “I’m hopeful that further meetings with the unions are productive and

Santander UK, Britain’s fifth-biggest high street bank, is cancelling its membership of a key lending standards body because of the duplication of regulatory standards to which the industry is required to adhere. Sky News has learnt that the Spanish-owned bank served notice last week of its intention to quit the Lending Standards Board, citing the

English cricket chiefs will next week take another step towards a radical revamp of the sport’s ownership structure by launching plans to sell stakes in The Hundred’s eight franchises. Sky News has learnt that the England and Wales Cricket Board (ECB) will interview bankers in the coming days as they prepare to raise funds by

Employees across the country have today been granted the legal right to request flexible working from the day they enter a new job. Previously, the right was only applicable if someone had worked for their employer for 26 weeks or more. The Flexible Working (Amendment) Regulations 2023 gained Royal Assent in July as Kevin Hollinrake,

The crisis enveloping Thames Water has deepened after its holding company announced it had been unable to meet debt repayments. Kemble Water said it missed an interest payment that was due on Tuesday. The firm said it had asked its lenders to take no immediate action so as to “provide a stable platform while all

House prices slipped by 1% in March following five consecutive months of growth, according to new figures from Halifax. The lender said affordability remained a challenge for potential buyers as recent declines in mortgage rates have stalled. It comes as financial markets become less optimistic about the timing and extent of interest rate cuts by

The Dutch banking giant ING has been thrust into a pivotal role in determining the future of stricken Thames Water’s parent company amid growing expectations that lenders will agree a loan extension ahead of a repayment deadline this month. Sky News has learnt that ING is among the lenders due to be repaid £190m by

The leading representative body for small businesses in Britain has criticised the City watchdog over its approach to a ‘super-complaint’ about lenders’ demand for personal guarantees. Sky News has obtained a letter from Martin McTague, national chair of the Federation of Small Businesses (FSB), to the Financial Conduct Authority (FCA) competition chief Sheldon Mills in

The Post Office’s IT helpdesk was instructing Fujitsu, the maker of faulty accounting software, to change sub-postmaster accounts more than a decade ago, according to leaked recordings. Two secret audio recordings with Post Office officials, obtained by Sky News, demonstrate how much the government-owned company knew about flaws with the Horizon IT programme, used by

Tube services will be disrupted in April and May as drivers stage two 24-hour strikes. Drivers who are members of ASLEF, the train drivers’ union which represents 96% of train drivers in Britain, will walk out from their roles on the London Underground over pay and conditions. They will strike on: Monday 8 April Saturday

The Abu Dhabi-backed vehicle which faces being thwarted in its bid to buy The Daily Telegraph is lining up advisers to determine the fate of the right-leaning British newspaper. Sky News has learnt that Raine Group, which is best-known in Britain for its roles in recent deals involving Manchester United and Chelsea football clubs, is

Taylor Swift has made it on to a list of the world’s billionaires, according to Forbes, as her Eras Tour spanning 152 shows and five continents generated more than $1bn (£800m) in revenue. The 34-year-old superstar, who stole the show at this year’s Grammy Awards by winning album of the year for the fourth time,