Business

The owner of Jaguar Land Rover has unveiled plans to build an electric car battery factory in the UK. Tata Motors says it’s planning to invest more than £4bn, with Prime Minister Rishi Sunak declaring that the new plant will create thousands of skilled jobs for Britons across the country. The deal is the culmination

A decision by Jaguar Land Rover (JLR) to invest in electric vehicle battery production in the UK is “very welcome”, a Labour MP has said. Darren Jones, chair of the cross-party Business and Trade Committee, was responding to reports that Tata will establish a battery gigafactory in Somerset for its JLR operation, potentially creating thousands

Supermarket deals have helped grocery price inflation ease for a fourth consecutive month. Closely watched data from Kantar Worldpanel, which tracks supermarket sales and prices, charted the steepest decline in checkout costs during the four weeks to 9 July since grocery inflation peaked in March. Its inflation measure fell by 1.6 percentage points to 14.9%

Train drivers will refuse to work overtime for a week – threatening disruption to services at the height of the summer holidays. The action – part of a long-running dispute over pay – will begin from 31 July, the ASLEF union announced on Monday. It will affect services across 15 train operating companies, and marks

Gresham House, a London-listed asset manager which invests in sectors including forestry and battery storage, is in talks about a private equity takeover. Sky News has learnt that Searchlight Capital, a US-based buyout firm, is targeting a take-private of the alternative investment manager, which is run by chief executive Tony Dalwood. If completed, the deal

Kemi Badenoch has signed off UK membership to a major Indo-Pacific trade bloc. The business and trade secretary signed the accession protocol to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in New Zealand on Sunday. The move brings British businesses a step closer to being able to sell to a market of half

The government is poised to shelve plans to crack down on Britain’s fast-growing ‘buy now pay later’ (BNPL) industry amid Whitehall concerns that it could curb the availability of low-interest products. Sky News has learnt that Treasury officials have been told during recent talks with the industry that a number of its biggest players could

Young adults and renters are some of the groups of people worst hit by rising prices as official figures show around 1 in 20 said they’d run out of food in the past 2 weeks and couldn’t afford more. Those aged 25 to 34 were at greater risk of financial vulnerability than those over the

Almost 1,000 workers at Gatwick Airport, including baggage handlers and check-in staff, will stage eight days of strikes from later this month. Staff will strike in a dispute over pay, the union Unite announced, at the start of the school summer holidays. Significant disruption, delays and cancellations are “inevitable”, the union said. The workers will

Unions have won a legal challenge against a law change which allowed companies to use agency staff to fill in the roles of striking workers. The change was introduced when Kwasi Kwarteng was business secretary under Boris Johnson in July last year. Mr Justice Linden was scathing in his written judgement. Politics latest: Rishi Sunak

The UK’s national debt could hit 300% of GDP by the 2070s because of the string of major challenges still facing national governments after a “rapid succession of shocks”, according to a report for the Treasury. The independent Office for Budget Responsibility laid out how climate change, defence and the fact people were living longer

The economy contracted in May as the additional public holiday for the King’s coronation weighed on output, according to official figures. Data from the Office for National Statistics (ONS) showed negative growth of 0.1% during the month, better than economists had predicted but continuing the yo-yo pattern seen throughout the last year that has left

The Bank of England says it expects the proportion of income UK households spend on mortgage payments to remain below levels seen during the financial crisis. Its latest Financial Stability Report declared that squeezed households were proving resilient in the face of challenges posed by rising living costs and interest rate hikes to tackle high

A new economic organisation, set up by Liz Truss, will launch on Wednesday, with a report claiming the average British person is £10,000 worse off than people in the US. The Growth Commission, made up of economists brought together by the former prime minister, said its work would focus on highlighting the issue of low

The pace of wage growth, already described as “unsustainable” by the governor of the Bank of England, has ticked up further, according to shock official figures. The Office for National Statistics (ONS) reported average weekly earnings excluding bonuses hit an annual rate of 7.3% during the three months to May. That matched the highest level

The Bank of England is reiterating its forecast that inflation will fall over the rest of the year, with governor Andrew Bailey saying it will fall “markedly”. The rate of price increases will come down due to lower energy costs, which should result in falling food bills for shoppers, Mr Bailey’s Mansion House speech is