Business

The number of cars built in the UK has continued to fall for the third month in a row, dropping to their lowest level for September since 1982. A total of 67,169 cars were produced in Britain last month, a decline of 41.5% year-on-year, according to a new report from the Society of Motor Manufacturers

Here are the key points from Chancellor Rishi Sunak’s budget speech: • The chancellor says there are “challenging” months ahead, adding that inflation in September was 3.1% and is likely to rise further – the OBR expect it to average 4% over the next year • Pressures caused by supply chains and energy crisis will

Rishi Sunak will deliver his Autumn Budget and Spending Review to MPs in the Commons today, setting out the government’s spending and financial strategy. It should take place at around 12:30pm, just after the conclusion of Prime Minister’s Questions. The chancellor’s address usually lasts around an hour – although in 1853 William Gladstone spoke for

Heathrow’s chief executive says the airport is “on the cusp of a recovery” as it posts its first full quarter of passenger growth since 2019. Britain’s busiest airport benefitted from strong pent-up demand for travel as pandemic-related restrictions continue to ease around the world. Passenger numbers in the third financial quarter recovered to 28% and

Facebook CEO Mark Zuckerberg has said recent claims against the social media giant are an attempt to “paint a false picture of our company”. Whistleblower Frances Haugen has told MPs that groups on the social media site can be “dangerous” because they use algorithms that “take people who have mainstream interests and push them to

Petrol prices have hit a record high across the UK in what the RAC has described as a “truly dark day for drivers”. The average daily price per litre hit 142.94p on Sunday in data reported on Monday morning by RAC/Experian Catalist, which is separate from the weekly average record price reported by government. The

Users of the Tesco website and app are experiencing disruption following an “attempt to interfere” with the system, the retail giant has said. The website and app have been hit with outages since yesterday morning, meaning customers cannot place or track orders. Website users are given an error message when they try to access groceries

The boss of Hyve Group, one of the London stock market’s largest exhibition organisers, is hatching plans to bid for Money20/20, the international fintech event owned by rival Ascential. Sky News understands that Hyve is in preliminary talks with Ascential about acquiring Money20/20 in a deal that would represent a renewed bet on the global

The Co-operative Bank has made an audacious approach about a merger with TSB in a move that could trigger a fresh wave of consolidation among Britain’s mid-sized lenders. Sky News has learnt that the Co-operative Bank contacted TSB’s Spanish owner, Banco Sabadell, earlier this month to gauge its appetite for a deal. Image: TSB’s Spanish

Zapp, one of the new breed of rapid grocery delivery apps engaged in a battle for share of British shoppers’ wallets, is opening talks about a new round of funding less than seven months after tapping investors for nearly $100m (£72.5m). Sky News has learnt that Zapp has hired JP Morgan, the Wall Street banking

Inflation could top 5% in the months ahead, the Bank of England’s new chief economist has warned. The remarks by Huw Pill in an interview with the Financial Times are likely to be seized upon as the latest evidence of Britain’s cost-of-living crisis. Mr Pill also told the FT that the Bank would face a

More than 100 Conservative MPs have made a fresh plea to Chancellor Rishi Sunak to do more to support pubs and clubs at next week’s budget. In a letter to Mr Sunak, the group of Tory backbenchers have called on the chancellor to maintain a freeze on alcohol duties when he delivers his budget on

Green bonds offering savers the chance to back the government’s environmental projects are going on sale – but experts think the “paltry” returns on offer will see demand wilt. The bonds, described as the first ever green savings product issued by a country, go on sale online via the Treasury-backed National Savings & Investments (NS&I)

The maker of a host of well known consumer brands has revealed a big lift in prices and warned of worse to come as it battles “unprecedented cost inflation” around the world. Unilever, which produces foods such as Marmite, Cornetto ice creams and Hellmann’s mayonnaise alongside goods including Dove soap, said it had raised prices

Tesla said it had battled chip shortages, port congestion and rolling blackouts as it reported better-than-expected sales – but warned “outside factors” could hold back further growth. The electric car maker, led by billionaire Elon Musk, also boosted its profitability in the third quarter despite a 6% fall in the average selling price of its

Petrol retailers have been accused of “taking a bigger cut” by a motoring group after warning that record pump prices are expected within days. The Petrol Retailers Association (PRA) – which shot to public prominence last month as the industry grappled delivery problems that sparked weeks of panic-buying in areas of England – blamed rising