Business

Burberry shares have fallen sharply after the luxury brand said it had failed to see the global pick-up in demand it had hoped for over the crucial Christmas season. The UK company, which has been seeking to move upmarket under a turnaround plan initiated by chief executive Jonathan Akeroyd, had previously warned on its annual

The City regulator is reviewing whether people could be owed compensation for being charged too much for car loans, following a high number of complaints on historic agreements. The Financial Conduct Authority (FCA) said it was a reaction to rising tensions between consumers and lenders over so-called discretionary commission arrangements across the motor finance market

A sports marketing group which works with Formula One motor racing and the International Olympic Committee is in advanced talks to be sold to a British buyout firm for £250m. Sky News has learnt that Two Circles, which was founded by Gareth Balch, a former international athlete, could announce a deal to be acquired by

Ian King is joined by Mark Shepherd, from the Association of British Insurers, to discuss the impact of the widespread flooding disruption. Mike Hawes, from the Society of Motor Manufacturers and Traders, talks to Ian about car sales. And Randall Atkins, from Ramaco Resources, discusses a new discovery at a coal mine in Wyoming. ::

Mortgage approvals hit their highest level in six months near the end of last year, official data has revealed – as more lenders announce rate cuts. New figures from the Bank of England (BoE), published on Thursday, show that more than 50,000 loans for home purchases were rubber-stamped in November – the highest number since

Ian King talks to Patrick Farrell from Charles Stanley about business confidence. Rightmove’s property expert, Tim Bannister, discusses house prices. Paddy Power, from Paddy Power, and Matt Hobbs, director of research at Prostate Cancer UK join Ian to discuss the real winner of last night’s World Darts Championship. :: Listen and subscribe to The Ian

Two of the world’s largest container ship operators have extended diversions from the Red Sea following an attack on a vessel at the weekend that has been blamed for a renewed oil price volatility. Maersk had suspended, on Sunday, sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou,

The website and phone app for Elon Musk’s X (formerly Twitter) appear to have been restored after going down. Earlier, users were still able to open the service but were faced with a message reading “welcome to your timeline”, instead of the usual feed of posts. Spaces, where people can take part in voice chat

There’s been a surprise and significant drop in inflation, the Financial Conduct Authority lays out plans to shake up the UK’s listing rules to make it more attractive for international businesses to list here, and one of the UK’s leading alternative investment managers Gresham House has been delisted. :: Listen and subscribe to The Ian

A second successive chunky fall in the rate of inflation is unarguably good news, all the better for being unexpected, that may yet change the economic and political path for the year ahead. While prices are emphatically not falling, they are rising less fast than they were, offering some hope that better times, if not

Spring energy bills are projected to ease as energy markets stabilise, according to a closely-watched forecast. Energy bills in the three months from April to June are projected to fall 16% to £1,660 a year for the average user, according to research firm Cornwall Insight. It’s a £268 drop from the energy cap from next

Bahrain’s sovereign wealth fund is gaining full ownership of McLaren Group, one of the most revered names in British premium manufacturing, as part of long-term plans to secure a partnership with a global industry giant. Sky News has learnt that Mumtalakat, the Gulf state’s investment fund, is on the brink of a deal with McLaren’s

Google will pay out $700m (£550m) and allow more competition on its Play Store after it was accused of using illegal restrictions and overcharging consumers when they buy items in apps. It forms part of an antitrust settlement in the US, ahead of a legal battle with Fortnite maker Epic Games, which accused Google of

Fast-fashion giant Shein has been accused of “Mafia-style intimidation” of suppliers in a lawsuit filed by rival online retailer Temu. The campaign of threats formed part of a “desperate plan” by the company to fight off its competitor in the US, according to the lawsuit filed in Washington DC on Wednesday. Among the claims is

The Federal Reserve has again held interest rates – ahead of a Bank of England announcement on Thursday in which it is widely expected to do the same. The US central bank said there was no immediate need for a hike because inflation had “eased over the past year,” as it also suggested borrowing costs

Tesla is recalling more than two million vehicles in the US over concerns about its Autopilot advanced driver-assistance system. The National Highway Traffic Safety Administration (NHTSA) said the system’s method of making sure drivers are paying attention can be inadequate and can lead to “foreseeable misuse of the system”. The NHTSA has been investigating Elon

The online dentistry firm Smile Direct Club has shut down its global operations months after filing for bankruptcy in the US, leaving customers in the middle of treatment in limbo. The company founded in 2014 had been providing its customers with affordable clear aligners remotely, without the need to see a dentist. But its winding

Microsoft’s multibillion-dollar partnership with ChatGPT maker OpenAI could face investigation by the UK’s competition regulator. The tech giant is a major investor and strengthened ties following the chatbot’s wildly successful launch in November 2022, committing another $10bn (£7.9bn) earlier this year. It is reported to own a 49% stake in the company, which is at

Google has revealed a new AI model it claims beats rivals like ChatGPT at most tasks after the company’s “largest science and engineering project ever”. Gemini is described as multimodal, meaning it can understand text, audio, video, images, and computer code. It’s been built by teams across Google, including London-based AI research unit DeepMind. DeepMind

Manchester United Football Club and Sir Jim Ratcliffe, the petrochemicals billionaire, aim to announce within days a £1.25bn deal that will see him take a 25% stake in the Red Devils. Sky News understands that the two sides have pencilled in early next week to confirm the long-awaited transaction, which will involve Sir Jim’s Ineos