Business

The founder of Revolution Beauty, the London-listed cosmetics group, is in negotiations to repay nearly £3m to settle allegations that he breached his fiduciary duties to the company. Sky News has learnt that Adam Minto, who stepped down as chief executive just over a year ago, is in advanced talks to hand over the multimillion

Fuel prices have dropped twice as fast since petrol stations were warned they were ripping off motorists, analysis has shown. A Competition and Markets Authority (CMA) report on 8 November accused retailers of failing to pass wholesale cost savings on to customers. The regulator said the differences between pump prices and wholesale costs in September

The Ladbrokes and Coral owner has agreed a deal with the Crown Prosecution Service (CPS) to pay £585m after a bribery investigation. Entain is paying the sum following a Bribery Act investigation by HM Revenue & Customs (HMRC) into its former Turkish business. Under investigation were activities of suppliers and former employees of the Entain

HSBC customers have been left without online and mobile banking services on Black Friday. Shortly before nine o’clock on Friday the bank said it is investigating the issue “as a matter of urgency” and apologised to customers. It’s working to restore mobile and online banking service, HSBC said, including authorising online card purchases via the

In Birmingham’s famous Balti triangle, skilled chefs from Pakistan prepare curry at Al Faisals restaurant. The manager, Qasim Khan, says without foreign workers he’d struggle to staff the restaurant as British workers don’t apply when they advertise work. “It is very, very difficult to get people to work in the hospitality sector,” he says. “We’re

The energy price cap is to rise to an average annual £1,928 from January, the sector’s regulator has announced. Ofgem said a typical household paying by direct debit for gas and electricity faces forking out 5% more when compared to the annual cap figure covering September to December, which equates to £94 more over the

Nissan is to commit to manufacturing electric versions of two of its bestselling models at its Sunderland plant after months of talks with the government. Sky News can reveal that the giant Japanese car manufacturer will announce on Friday that it will build the electric Qashqai and Juke at the site – a decision that

It’s autumn statement time. Once upon a time, these winter budgets used to be brief updates on the fiscal forecasts, never overshadowing the far more substantial main budget in the spring. Or at least so we’re told. In practice, for as long as I’ve been covering economics, the autumn statement (or, as Gordon Brown used

The national living wage will rise to £11.44 per hour from April. Chancellor Jeremy Hunt has announced he is accepting the recommendation from the Low Pay Commission – an increase of £1.02 from the current rate of £10.42. The national living wage is the minimum people aged 21 and over must be paid for their

More than 500 employees of revolutionary artificial intelligence (AI) company OpenAI have said they will leave if the ousted CEO Sam Altman is not reinstated and the board does not resign. A letter from 505 of the approximately 700 OpenAI employees threatened to quit and jump ship to Microsoft, having received assurances that there are

A university spin-outs vehicle which has raised hundreds of millions of pounds to back some of Britain’s most promising start-ups is investing a seven-figure sum into a low-carbon bioplastics developer. Sky News understands that Northern Gritstone is leading a funding round for Floreon, which deploys a technology created at the University of Sheffield. Floreon, which

Taxes on personal income are set to go down in Wednesday’s autumn statement and reduce again in the spring budget, as the chancellor focuses on low and middle income working families. The Politics at Jack and Sam’s podcast, by Sky News and Politico, reveals the overwhelming focus of the autumn statement will be on helping

There will be a lot of positive talk from the chancellor when he delivers his autumn statement on Wednesday, but this will be a fiscal event full of illusory gains. The government is on track to borrow less than previously forecast, which will give rise to a fantasy that Chancellor Jeremy Hunt has more space

A court hearing to liquidate a Barclay family holding companies in order to smooth a sale of The Daily Telegraph is poised to be adjourned after a last-gasp offer to repay more than £1bn to Lloyds Banking Group. Sky News understands that a hearing scheduled to take place in the British Virgin Islands on Monday

Alphabet, the $1.7trn (£1.4trn) technology behemoth which owns Google, is in talks to take a stake in Monzo, one of Britain’s biggest digital retail banks. Sky News has learnt that Capital G, an investment fund which deploys capital into fast-growing tech companies, is close to an agreement to lead a funding round that will raise

The chief executive of OpenAI – the firm behind viral chatbot ChatGPT – has been ousted after the board said it no longer has confidence in him. Sam Altman is to depart and will be replaced in the interim by Mira Murati, who is currently chief technology officer for the artificial intelligence company. In a