Business

Ian King looks at the chancellor’s autumn statement. Richard Hughes, chair of the budget watchdog, the Office for Budget Responsibility, or OBR, speaks about the autumn statement and the economic outlook. Dr Sai Shivareddy, chief executive of tech firm Nyobolt, also reacts to the announcements. Ian King is also joined by Steve Hare, chief executive

The electricity, phone and broadband provider arm of Shell has been fined £1.4m by the communications regulator for breaking customer protection rules. Shell Energy was hit with the fine for failing to flag contract ends and the best deals for phone and broadband customers, Ofcom said. More than 70,000 such customers were not properly prompted

A warning from Burberry that sales expectations are at risk from a slump in demand for luxury has sent its shares sharply lower. The company’s stock dived by almost 10% in early trading in London after it admitted that its annual revenue forecast for low double-digit growth was in peril, with profitability suffering too in

Manchester United has confirmed its chief executive of two years, Richard Arnold, “has decided to step down” as part of a “management transition”. The development was revealed shortly after Sky News reported that Mr Arnold would be replaced by the club’s general counsel, Patrick Stewart, on an interim basis. The change is taking place as

In a sense, the headline news today is the least important bit of all. Inflation has dropped to 4.6% which means the chancellor and prime minister can claim victory in one of their five pledges – the one to halve inflation by the end of the year. True, there’s still a few months of data

Our business correspondent, Paul Kelso, joins the show as he takes us through the King’s Speech, which laid out the government’s plans for the coming year. And we hear from the chief executive of department store Fenwick about retail sales. Listen and subscribe to The Ian King Business Podcast here Advertisement

A cloud software giant backed by some of the world’s biggest private investors is in talks about the sale of a multibillion-pound stake to wealthy family offices and state investment funds. Sky News understands that Group Bruxelles Lambert, the vehicle jointly established by the Belgian Frere family, and Mubadala, the Abu Dhabi sovereign wealth fund,

The England footballer Ollie Watkins is among a group of investors ploughing new funds into a fast-growing British online sneaker and streetwear marketplace. Sky News understands that Mr Watkins, who played for Aston Villa on Sunday in the 2-0 defeat at Nottingham Forest, is backing The Edit LDN, which has operated concessions in department stores

Ian King talks to Sky News’s city editor Mark Kleinman about the future of Manchester United. He also speaks to the founder and chief executive of Venrai, Jason Tucker-Feltham, about Sam Bankman-Fried – who’s been found guilty of crypto fraud. Mary Aiken, Professor of Cyberpsychology at Capitol Technology University in Washington, is also interviewed on

Rishi Sunak has said the UK’s AI safety summit will “tip the balance in favour of humanity” after governments reached a “landmark agreement” with tech companies to test their models before their release. The prime minister said while the event at Bletchley Park was “only the beginning of the conversation”, it showed there was a

Elon Musk will head to Downing Street for talks with Rishi Sunak today following the prime minister’s AI safety summit. The billionaire owner of SpaceX and Tesla jetted in for the event at Bletchley Park, which began on Wednesday with attending countries backing an agreement on the need to manage risks posed by the technology.

Oil and gas giant Shell has continued its retreat from renewables as it is set to cut 200 low-carbon jobs and review another 130. Next year 200 roles are to be slashed in the low carbon solution and hydrogen divisions, while a further 130 positions are under review in an effort to reduce headcount and

Bitcoin mining consumes more electricity than most countries, according to a new report on its damaging environmental impact. Mining is the process by which transactions are added to and validated on the blockchain, the public ledger for cryptocurrencies. Competing miners race to use computers to solve complex mathematical puzzles using extremely powerful hardware – receiving

Bitcoin shot up 6% on Tuesday to its highest value in nearly a year-and-a-half. The price rose as high as $35,198 (£28,844) at one point amid speculation US regulators could soon approve an exchange-traded fund (ETF) based on its market price. This would allow investors to gain exposure to Bitcoin without owning the cryptocurrency directly

Emma Crosby is joined by Olivia Gallarati, who’s an oil markets analyst at Energy Aspects. Chris Noice from the Association of Convenience Stores speaks to Emma about the problem of shoplifting. And Vistry announces job cuts after a slump in demand. :: Listen and subscribe to The Ian King Business Podcast here. Advertisement

Meta has apologised after Instagram inserted the word “terrorist” into some Palestinian users’ profile bios. Some bios containing the word “Palestinian” followed by the Palestinian flag emoji and the Arabic phrase “Alhamdulillah,” which means “Praise be to God”, were being auto-translated to: “Praise be to God, Palestinian terrorists are fighting for their freedom.” The issue

Nokia has revealed plans to shed up to 14,000 jobs following a slump in sales. The Finland-based telecoms technology firm, which has 86,000 staff worldwide, said it was launching a cost-saving drive across the business in a bid to boost its margins. Nokia reported a 20% fall in sales during its third quarter. Comparable net

The rate of inflation remaining unchanged at 6.7% features on today’s episode of the Ian King Business podcast, where the chief executive of Saxo UK, Charlie White-Thomson, discusses its potential impact on the next interest rate decision. Premier Inn owner Whitbread continues to see strong demand and remains confident about the outlook, in its figures

The energy regulator has revealed new rules for household suppliers that include priority help for vulnerable customers struggling to pay their bills. Ofgem said that from December, gas and electricity providers had a duty to put those customers first when contacted with an enquiry about their payments. The new requirements also force companies to contact

Last month’s inflation data release completely changed the outlook for Britain’s economic policy. The number came in far below what economists had expected, prompting the Bank of England to pause its rises in interest rates, with wider implications for the state of the British economy. This month’s inflation release – covering the rise in prices