Business

Wizz Air has been named the worst performing airline for customer service by a leading consumer group. Which? said the low-cost carrier ranked the lowest “by far” in a poll of around 1,000 adults. Those surveyed were quizzed on how well airlines performed across eight areas of customer service, including how easy it was to

A new scheme offering settlements of £600,000 to victims of the Post Office scandal has been unveiled by the government. Ministers said it would help sub-postmasters traumatised by the scandal, in which faulty IT software called Horizon led hundreds of staff to be falsely accused of stealing from branches, receive financial support without “unnecessary bureaucracy”.

Rachel Reeves has accused her predecessor of hiding a “£22bn funding gap” for the current financial year, announcing a series of “tough decisions” to compensate. The chancellor told MPs that the investigation she ordered into the spending plans Labour inherited following the election found a Conservative “cover-up” that “put party ahead of country”. Her statement,

Rachel Reeves has scrapped some winter fuel payments, along with a raft of other government programmes and policies to plug a projected government overspend of £22bn. The chancellor said those not in receipt of pension credit will no longer receive the extra money as she repeatedly told MPs: “If we cannot afford it, we cannot

Rachel Reeves will signal Labour’s plans to cut government departments and the Civil Service as the new administration looks to accuse Rishi Sunak of “covering up” problems with the economy. The chancellor is set to speak to the House of Commons on Monday following a review of the government finances after taking office at the

Eddie Jordan, the former Formula One team-owner, has launched a multimillion pound legal fight against HSBC over its alleged mis-selling of a complex bond in which he invested. Sky News has learnt that Mr Jordan, who became one of Grand Prix motor racing’s most flamboyant and successful figures during a stint at the helm of

Cineworld has confirmed six cinemas will close as part of plans to cut jobs and save money, as the company struggles with debt. The cinemas will shut in “late September 2024” if the cost-cutting plans get legal approval. They are: • Glasgow Parkhead; • Bedford; • Hinckley; • Loughborough; • Yate; • Swindon – Regent

A London-listed building products company which was bailed out by investors during the pandemic is weighing a further cash call in the wake of a stinging profit warning. Sky News has learnt that SIG, which has a market value of just over £300m, is considering raising up to nearly half that amount through an equity-raise

Chancellor Rachel Reeves has promised to “fix” the “mess” the Conservative government left in the economy, amid reports of a £20bn “black hole” in the public finances. Ms Reeves, who is currently on a visit to the G20 in Brazil, told broadcasters she aimed to tell the world that the UK “is open for business”

NatWest has an increasingly confident air about it. The biggest lender to small and medium-sized businesses in the UK today posted another set of results that were better than expected – and raised its profit forecasts for the year. It also announced an eye-catching acquisition – agreeing to pay up to £2.4bn in cash for

The chief executive of AstraZeneca has criticised a public health body for refusing to make one of its breast cancer treatments available to NHS patients in England and Wales. The National Institute for Health and Care Excellence (NICE) decided in March this year that patients should be denied access to Enhertu because it said the

The private equity giant Apollo Global Management is on the brink of a deal to buy Evri, the British parcel delivery company, in a £2.7bn deal. Sky News has learnt that Apollo has seen off competition to acquire the company from rivals including JD.com, the Chinese internet group, and DHL. The deal could be announced

The new government should cut taxes on electric vehicles to revive flagging sales and help the industry hit its climate goals, the motor trade body has said. New car sales fell across the board in the last six months, with petrol, diesel and electric cars all falling 7.6%, but the industry is particularly concerned about

It is now even harder and more expensive for the UK’s biggest water provider to borrow money as leading credit ratings agency Moody’s has downgraded its debt to “junk” status. Thames Water’s parent company had already defaulted on some loan payments that make up its £16.5bn debt pile. More pressure will be put on its

Rishi Sunak’s decision to cancel HS2 between Birmingham and Manchester will lead to reduced capacity on passenger trains to the North West and could cut economic growth, the government spending watchdog has found. Mr Sunak controversially cancelled the high-speed line north of Birmingham at the Conservative Party Conference in Manchester last October, describing the troubled

Efforts to secure access to cash for consumers and businesses are being stepped up through a series of new rules to be imposed by the City watchdog. The Financial Conduct Authority (FCA) said that from 18 September, banks and building societies would face greater obligations to weigh if local communities lack access to services, like