Business

The UK economy just about returned to growth in November after two months of contraction, the latest official figures show. Gross domestic product (GDP), the standard measure of an economy’s value and everything it produces, grew by 0.1%, according to data from the Office for National Statistics. It was expected to grow by 0.2%. Money

There’s been a surprise fall in inflation to 2.5% after two months of rises, official figures show. It means prices are still rising but at a slower pace than before, according to Office for National Statistics (ONS) data for December. Economists had expected the figure to remain at 2.6%, the level recorded in November. Inflation

The rate of inflation may have eased slightly but it is clear that UK households are facing a surge of rising costs ahead. At an annual rate of 2.5%, the consumer prices index (CPI) measure of inflation for the 12 months to December is well below the energy-led cost of living crisis peak above 11%.

Chancellor Rachel Reeves has been accused of refusing to “face up to her own failures” by “jetting off to Beijing” during a week of market turmoil. Shadow chancellor Mel Stride accused the chancellor of ducking difficult questions as the “government was losing control of the economy” while Ms Reeves visited China over the past week

Plans to develop the UK’s largest untapped oilfield have been thwarted in a major climate court case. A Scottish court ruled the previous Conservative government acted “unlawfully” when it green-lit the offshore Rosebank oilfield and smaller Jackdaw gas project. The judge said the assessment of the projects’ climate damage failed to acknowledge the impact of

Campaigners are calling on the government to allow rents to be capped within tenancies as a key bill returns to the Commons. More than 30 MPs have backed an amendment to the Renters’ Rights Bill which, if passed, would restrict how much landlords can raise rents on sitting tenants by limiting percentage increases to inflation

Sir Keir Starmer has said the Treasury will be “ruthless” in cutting government spending as market turbulence continues. Responding to a question about the economic situation from Sky News’ political editor Beth Rigby, he said: “The number one mission of this government is economic growth. “And that was run through the budget, but there’s much

The government will “mainline AI into the veins” of the UK, with plans being unveiled on Monday by Sir Keir Starmer. The prime minister is set to promise investment, jobs and economic growth due to a boom in the sector. It comes as his government battles against allegations they are mismanaging the economy and stymied

The health secretary has said that the cabinet is aware of the “pressure” on Chancellor Rachel Reeves amid volatile markets and a challenging broader economic picture – but appealed for the public to “give her time”. Wes Streeting argued that the public “underestimates” the “amount of heavy-lifting” Ms Reeves has had to do and will

The proportion of 25 to 34-year-olds living with their parents has risen by more than a third in just under two decades, according to new analysis. Last year, the share of the age group living at home was almost a fifth (18%), up from 13% in 2006, the Institute for Fiscal Studies (IFS) said in

The London Stock Exchange is preparing to do battle for one of Europe’s biggest initial public offerings for years as Verisure, the domestic security systems provider, kicks off plans for a flotation valuing it at more than €20bn (£16.7bn). Sky News has learnt that Verisure’s owner, the private equity firm Hellman & Friedman (H&F), is

Making Britain better off will be “at the forefront of the chancellor’s mind” during her visit to China, the Treasury has said amid controversy over the trip. Rachel Reeves flew out on Friday after ignoring calls from opposition parties to cancel the long-planned venture because of market turmoil at home. The past week has seen

The pound has come under renewed pressure at the end of a torrid week for the UK currency, falling to fresh 14-month lows against the dollar. Sterling lost almost a cent, to stand just above $1.22 at one stage, on the back of higher support for the greenback after US employment data came in much

The price of resale tickets could be capped under plans to stop the public being “fleeced” by professional touts, the government has announced. The limit could range from the cost of the original ticket to a 30% uplift, with a consultation to be launched on the specifics of the measure. Some in No 10 ‘a

An intervention by the chancellor to help shore up flagging financial market confidence in the UK economy has been ruled out by the government, amid further declines in the value of the pound. Sterling fell to its lowest level against the dollar since November 2023 early on Thursday, building on recent losses. A toxic cocktail

Bim Afolami, the former City minister, is to return to HSBC – the bank he worked for before he embarked on a career in politics – in a boardroom role. Sky News has learnt that Mr Afolami, who lost his Hitchin seat at last year’s general election, is to become a non-executive director of the