Business

US flight safety regulators are to intensify their scrutiny of Boeing in the wake of the mid-air panel blowout a week ago aboard one of the company’s planes. The announcement was made by a top Federal Aviation Administration (FAA) official who is working on the investigation into the scare aboard the Alaska Airlines flight on

Shipping costs have risen by more than 300% since November amid the disruption caused to freight in the Red Sea from attacks, according to fresh data. Just hours after US and UK-led attacks on Yemen aimed at preventing renewed assaults on shipping by Iran-aligned Houthi rebels, it was revealed that freight prices continued to rise

The UK economy returned to growth in November, according to official figures that are being closely watched amid fears the prospect of recession remains on a knife edge. The Office for National Statistics (ONS) reported output growth of 0.3% for the month – recovering from a 0.3% decline witnessed in October when many weather-sensitive sectors

Two tech giants are battling it out for the title of the world’s most valuable company. Microsoft had overtaken Apple for the first time since 2021 to become the world’s most valuable firm by market capitalisation – which measures the value and number of a company’s shares. Money latest:‘Huge announcement’ on car finance could see

Tesco has raised its annual profit forecast while joining Marks and Spencer (M&S) in reporting strong Christmas sales. Tesco, the UK’s largest retailer, said comparable sales growth over six weeks to 6 January was 6.8% higher compared to the same period last year. The figure rose to 7.5% over the 19 weeks also covering its

Starbucks is being sued in the US for alleged false advertising over how ethically sourced its products are. The lawsuit centres on accusations it is getting coffee and tea from farms that have human rights and labour abuses, when the company says it is committed to “100% ethical sourcing”. The legal action, which has been

Sainsbury’s says its first Nectar Prices Christmas helped it to achieve volume growth ahead of the grocery market over the festive season but sales were not up across the board. The UK’s second-largest supermarket chain by market share reported a 9.3% rise in grocery sales over the 16 weeks to 6 January. It stated that

On today’s episode, Ian King speaks to John Grant, chief analyst at the aviation analytics firm OAG, about problems mounting for Boeing, as its 737-9 MAX jets continue to be inspected. Plus, hear from YouGov boss Steve Hatch about the firm’s latest acquisition. And global cloud enterprise software company, IFS, has a new chief executive

Jeremy Hunt held talks with some of the City’s top business leaders on Tuesday in a bid to inject fresh momentum into London’s flagging market for new company listings. Sky News understands the chief executives of asset managers Abrdn and Schroders and their counterpart at HSBC Holdings were among those scheduled to attend a breakfast

Barclays is in the process of removing 5,000 roles from its global workforce in recent months as part of a renewed push by executives to slash costs and improve the bank’s profitability. Sky News has learnt that a total of roughly 5,000 jobs were shed from the British bank’s 84,000-strong ranks during 2023, with about

Rolls-Royce Motor Cars has reported another year of record sales, bolstered by a recovery in China and the launch of its new all-electric Spectre model. The Goodwood-based firm, which is owned by BMW, said 6,032 vehicles were delivered to customers in 2023 – a slight uptick on the previous 12 months. The performance was driven,

The owners of SoundCloud, one of the world’s largest music streaming services, are preparing for a sale that could fetch in excess of $1bn. Sky News has learnt that Raine Group and Temasek Holdings, the Singaporean state investment fund, have begun interviewing investment banks about a prospective auction of the company. Founded in 2007, SoundCloud

Dramatic footage shows the moments after a window and chunk of fuselage blew out of a passenger plane in mid-air, leaving a gaping hole in the side of the Boeing 737-9 MAX.  One Alaska Airlines passenger on the affected flight said a boy and his mother were sitting in the same row as the damage

Some of BP’s largest shareholders have urged it to approach Charles Woodburn, the BAE Systems chief executive, about becoming the FTSE-100 oil behemoth’s next boss. Sky News has learnt that several large investors believe that BP should target the appointment of an external candidate as its CEO for the first time in its 114-year history.

Chancellor Jeremy Hunt is unsure if the government can afford further tax cuts – as a National Insurance (NI) reduction comes into force today. The pre-election cut to NI, from 12% to 10%, will impact around 27 million payroll employees across the UK. A person earning the UK’s average salary of £35,000 will save £450

The chairman of NatWest bank has come under fire after he claimed it is not “that difficult” for people to get on the property ladder in the UK. Sir Howard Davies said that while some found it hard to “start the process”, aspiring homeowners “have to save and that is the way it always used

The chief executive of McDonald’s has revealed the company has suffered a “meaningful business impact” following controversy surrounding the Israel-Hamas war. Chris Kempczinski said the fast-food giant had been negatively affected in both Middle Eastern markets and “some outside the region” following calls for a boycott of the chain. It comes after a row in

One of the largest supermarket chains in France is refusing to sell PepsiCo products on the grounds they have become too expensive to stock. A spokesperson for Carrefour said the move would apply to its 9,000+ store network across France, Spain, Italy and Belgium. The chain said it had deployed signs in-store that blamed “unacceptable

By 1pm this afternoon, just a few days into the new year, FTSE 100 bosses will have earned more than the typical UK worker makes in a year, according to new estimates. The median pay – the midpoint between the lowest and highest pay – for a FTSE 100 boss stood at £3.81m (excluding pensions)

Price cuts to lure shoppers helped supermarkets rake in record revenues ahead of Christmas, according to industry data. Kantar Wordpanel, which tracks sales and prices among chains, said £13.7bn passed through tills or via websites over the four weeks to 24 December. It took average household grocery spending to an all-time high of £477 across