Business

The escalating row between Boohoo and Revolution Beauty, the AIM-listed retailer, is poised to intensify with a complaint to the junior stock market regulator. Sky News has learnt that Boohoo is drafting a letter to the AIM regulatory authorities demanding that Revolution clarifies an earlier stock exchange announcement that the online clothing retailer had obstructed

Britain’s biggest water company is this weekend corralling its shareholders to support a major capital injection as it prepares to publish delayed annual accounts. Sky News has learnt that Thames Water has secured backing from investors including Omers, the Canadian pension fund, and the Universities Superannuation Scheme (USS) for a commitment to provide new equity. Further

BT Group has kicked off a formal search for a successor to Philip Jansen, its chief executive, as he weighs a number of job opportunities in the US. Sky News has learnt that BT is working with the search firm Spencer Stuart on a process to identify a successor to Mr Jansen, who took on

Wilko, one of Britain’s biggest discount retailers, is racing to secure a cash injection as it prepares to launch a financial restructuring aimed at securing its future. Sky News has learnt that Wilko, which is owned by its founding family and employs about 12,000 people, is working with advisers to raise tens of millions of

The Empire Cinemas chain has entered administration, leading to the loss of 150 jobs and the closure of six cinemas. Eight of the 14 cinemas in the group – under the Empire Cinemas and Tivoli brands – will remain open. But the locations that have been closed with immediate effect are: • Bishop’s Stortford• Catterick

Several days of strike action on the London Underground have been announced from 23 July in a row over pensions, job cuts and attacks on working conditions, according to a union. The RMT said different grades and sections of the Tube would take strike action from Sunday 23 July until Friday 28 July. Advertisement

Money markets have begun to price in a Bank of England interest rate of 6.5%. The interest rate on ten year government bonds (the gilt yield as it’s sometimes called) exceeded the peak it hit after the mini-budget of September last year – that one which provoked a crisis in many parts of the bond

Higher wages are the “biggest driver of price rises” for two-thirds of businesses, according to the findings of a report which will do nothing to ease worries at the Bank of England that inflation is coming under control. The British Chambers of Commerce’s (BCC) economic survey of its members, covering April to June, showed that

The UK is now the only country in the G7 group of rich nations still dealing with rising inflation, the Organisation for Economic Co-operation and Development (OECD) has said. The Paris-based OECD – a club of 38 rich countries – said inflation in the UK rose to 7.9% in May, up from 7.8% in April,

The water industry regulator has admitted investors in crisis-hit Thames Water have become “more concerned about the turnaround of the company”, as it seeks £1bn to help shore up its immediate financial future. Ofwat chief executive David Black told a Lords committee that while talks were continuing, new shareholders may have to be sought if

More than half of broadband customers in the UK continue to experience problems with their service, a survey has found, despite providers raising prices by more than the rate of inflation. The findings are part of the latest “broadband satisfaction survey” from consumer group Which?, which found that 53% of those asked had connection issues

Drivers are used to working hard to find the best price for a tank of fuel. Supermarkets, it turns out, have been working only as hard as they need to to provide it. A Competition and Markets Authority investigation into fuel pricing has found that retail margins at supermarkets have widened by 6p per litre

The average mortgage rate for a five-year fixed deal has risen to 6.01%, according to a financial information company. Meanwhile, the average two-year fixed rate mortgage has increased to 6.47%, Moneyfacts said. The previous average for a five-year rate was 5.97% on Monday, while the two-year deal was 6.42%. A five-year fixed deal is at

​​​​​​​Disruption to rail journeys are expected across the country this week as train drivers refuse to work overtime for six days. ASLEF announced last month that its members would withdraw non-contractual overtime, known as rest-day working, with 16 of the country’s 35 rail operators from Monday 3 July to Saturday 8 July. Train companies affected

One of Britain’s most senior boardroom figures is to replace John Allan at the helm of Tesco. Sky News can exclusively reveal that Gerry Murphy, the chairman of Burberry and Tate & Lyle, has been chosen to replace Mr Allan, whose recent departure was hastened by a series of personal misconduct allegations. Sources said Dr

Households will pay less for their gas and electricity from today but bills will still be almost double what they were before the energy crisis. The average household energy bill will fall by £426 a year from 1 July after Ofgem dropped its price cap following tumbling wholesale prices. People had been advised to submit