Business

The head of beleaguered plane maker Boeing has said “a quality escape” occurred in safety checks which led to a mid-flight blowout when a door ‘plug’ came off during a flight involving one of the company’s jets. Chief executive Dave Calhoun explained that the “quality escape” to which he referred was “anything that could potentially

Danone will reduce the price it sells Aptamil baby formula to retailers by up to 7% from Monday – after manufacturers were criticised for “exploiting” British families. It comes seven months after Sky News revealed the desperate measures families have been taking to feed their babies because of the high prices of formula milk in

Former Post Office boss Paula Vennells will hand back her CBE with immediate effect amid the fallout of the Horizon IT scandal. The scandal led to the convictions of hundreds of sub-postmasters. Ms Vennells said in a statement: “I continue to support and focus on co-operating with the inquiry and expect to be giving evidence

The justice secretary is meeting with senior judges today to discuss ways to accelerate the appeals of those convicted in the Horizon scandal, with cabinet minister Mel Stride saying an announcement could come this week. The government is facing fresh calls to act following the airing of the ITV drama, Mr Bates vs The Post

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

Ministers are meeting today to discuss the Horizon scandal, as the petition to remove the CBE from ex-Post Office boss Paula Vennells reached one million signatures. Justice Secretary Alex Chalk and postal minister Kevin Hollinrake will discuss the scandal in the wake of renewed scrutiny following the ITV drama Mr Bates vs The Post Office,

Planned strikes which would have crippled London Underground services this week have been called off, according to a union. RMT say the industrial action by its workers on the Tube network – scheduled to take place from Monday to Thursday – will no longer go ahead, after positive talks with Transport for London (TfL). The

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

Sir Keir Starmer has refused to commit to unfreezing tax thresholds if Labour wins the next general election, saying he won’t make promises he can’t keep. However, the Labour leader was firmer in his position on inheritance tax, telling Sky News if the Tories reduce it, he will reverse that change because he does not

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

A string of banks and building societies are likely to follow the UK’s largest lender in cutting mortgage rates in the coming weeks, experts have said. It comes after Halifax reduced its rates by up to 0.83% on Tuesday, including a two-year deal of 4.68% with a £999 fee. Lloyds Banking Group, which owns Halifax,

Two of the world’s largest container ship operators have extended diversions from the Red Sea following an attack on a vessel at the weekend that has been blamed for a renewed oil price volatility. Maersk had suspended, on Sunday, sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou,

More than 230 independent vape shops opened across the UK last year, new figures have revealed. It represents a sharp increase from the 61 new stores which opened in 2022, and a net fall of 23 in 2021, according to a survey of retail areas by the Local Data Company (LDC). The rise comes amid

Philip Jansen, the outgoing BT Group boss, has been approached about becoming the next chairman of WPP, the FTSE-100 marketing services giant. Sky News has learnt that Mr Jansen, who is to step down from the telecoms company in the spring, is one of a number of prospective candidates to have been sounded out in

A British buyout firm is hoping to triumph in a two-way battle for Princes Foods, one of Britain’s biggest tinned produce manufacturers. Sky News understands that Epiris wants to secure a deal to buy Princes within days. Epiris has been bidding against Italy’s Newlat in recent weeks, with both said to remain in the running.