Business

Workers at Rolls-Royce Motor Cars’ Goodwood factory are to receive a pay award worth up to 17.6% after negotiations between the luxury automaker and Unite the union. In all, 1,200 production workers at the West Sussex plant are to receive a salary boost of 10% and a one-off payment of £2,000 from January, avoiding the

The Bank of England has revealed a 0.5 percentage point interest rate increase – its ninth consecutive rise as it maintains its battle against inflation. The decision, by its monetary policy committee (MPC), took the bank rate to 3.5% – a fresh high not seen since the 2008 financial crisis. The move, however, represented a

The rules limiting the volume of liquids allowed on planes and requiring electronics to be taken out of hand luggage in security are to change. The government has set a deadline of June 2024 for major UK airports to install new security technology, which will make obsolete the rule to bring no more than 100ml

US interest rates are now at their highest since the global financial crisis as the US central bank has again imposed an increase as it seeks to lower inflation. The Federal Reserve, known as the Fed, has imposed a 0.50 percentage points rise in interest rates. The widely-expected rise will mean more expensive borrowing for

The rate of inflation eased to 10.7% from 11.1% last month, according to official figures showing that food and the cost of a night out continue to rise in price ahead of Christmas. The Office for National Statistics (ONS) said falling motor fuel prices led the decline in the core consumer prices index (CPI) measure

A London-listed advertising technology provider has caved into shareholder pressure and abandoned plans to recalibrate a multimillion-pound executive pay scheme. Sky News has learnt that Tremor International has withdrawn two resolutions that were scheduled to be voted on at its annual meeting on Wednesday. They related to a repricing of share options and an increase

The UK recorded its second largest fall in real wage growth since records began in 2001 during October and the unemployment rate rose, according to new official jobs figures which also highlight the growing impact of strikes on the economy. The Office for National Statistics (ONS) reported that wage growth was 4.2% weaker when the

Rail strikes will go ahead this week after union members voted to reject an offer from Network Rail. Members of the RMT union will walk out on 13, 14 and 16 and 17 December. More strikes are planned from 6pm on Christmas Eve to 5.59am on 27 December. It was expected that the offer would

The economy returned to growth in October, according to early official figures which experts suggest could be the last to show expansion for some time. The Office for National Statistics (ONS) reported growth of 0.5% – following a contraction of 0.6% in September which was largely put down to disruption to usual activity because of

Troops are being trained to drive ambulances ahead of strikes as the government holds emergency COBRA meetings to limit disruption while 10 different industries go on strike this week. Over the weekend, government sources said a decision had not yet been made to put in a formal request to the Ministry of Defence but said

Britain’s biggest retailer is preparing to kick off a search for a new chairman, firing the starting gun on a race to fill one of the FTSE-100’s most prestigious boardroom posts. Sky News has learnt that Tesco is drawing up plans to begin identifying a replacement for John Allan, who will step down in 2024.

It can feel like all the money is flying straight out of your bank account this month, but payday isn’t quite as far away as you may think. There is also a range of extra benefits available in December which could ease some pressures amid the cost of living crisis. Here are some key money

The cost of antibiotics needed to treat Strep A has skyrocketed – as industry professionals claim prices have been hiked up to take advantage of “unprecedented” demand. Multiple pharmacies have warned they cannot obtain the necessary medications to treat Strep A as a 16th child died in Sussex with a suspected infection on Friday –

Depending on your point of view, Jeremy Hunt’s proposed reform of financial regulations represents a potentially significant boost to the competitiveness of the UK’s financial services sector or a potentially dangerous watering-down of rules put in place to prevent a re-run of the financial crisis. The truth, as ever, is that it is probably somewhere

US regulators have filed a complaint aimed at stopping Microsoft’s planned $69bn (£50bn) takeover of Call of Duty games maker Activision Blizzard. Microsoft, which owns Xbox, said in January that it had agreed an all-cash deal – the biggest in the gaming sector to date. But regulators globally, including in the UK, have taken great

A striking Royal Mail worker has voiced fears up to 25,000 staff could be sacked and new working conditions imposed on those left after the core Christmas season has finished. The man, who usually delivers letters and parcels in the London area and is being identified as ‘Derek’ because he wished to remain anonymous, was

The chances are you haven’t heard of the BBL pipeline. It’s a 235km steel tube which runs under the North Sea between Balgzand in the northern tip of the Netherlands and Bacton in Great Britain. It’s one of those bits of innocuous infrastructure which, most of the time, no-one except energy analysts pay all that

Motorists should not expect to see a return of supermarkets using cheap fuel to lure in shoppers, an industry source has told Sky News. They spoke out after weeks of criticism from motoring groups and fuel price campaigners that supermarket petrol stations are failing to reflect plunging wholesale fuel prices. Data supplied by the AA

The government has U-turned over its ban on onshore wind by saying turbines could be installed if the projects gain the support of local communities. The Department for Levelling Up has launched a consultation to explore how councils can “demonstrate local support and respond to views of their communities when considering onshore wind development in

The price of own-brand and budget products in supermarkets has been rising far faster than premium and branded items during the cost of living crisis, new figures suggest. Which? tracked tens of thousands of products across eight major supermarkets – and while budget ranges had surged by as much as 18%, the price of premium