Business

Six English water companies are facing legal action over allegations they under-reported pollution discharges and overcharged customers as a result. Professor Carolyn Roberts, an environmental and water consultant, said she is planning to bring a string of cases to the Competition Appeal Tribunal in a bid to secure more than £800m compensation on behalf of

A specialist investor in struggling retailers is exploring a bid to rescue Wilko, the ailing family-owned chain which is teetering on the brink of collapse. Sky News has learnt that Gordon Brothers, which has backed British high street names including Laura Ashley, is in talks with Wilko’s advisers about structuring a potential deal. Sources said

One of Britain’s biggest housebuilders is planning widespread redundancies and the closure of two regional divisions as it battles a slump in demand from new buyers. Bellway is consulting on the proposals, which would involve the closure of its London partnerships and South Midlands divisions. The move could see 90 employees from the company’s 3,000-strong

Consumers spent less in shops as wet weather dampened demand for typical seasonal goods in July, latest figures show. Total UK retail sales increased 1.5%, according to the retail sales monitor from retail representative British Retail Consortium (BRC) and big four accountancy firm KPMG. But at the same time official figures showed the rate of

House prices fell by 2.4% in the year up to July – but there are signs the market is showing ‘resilience’, according to the Halifax. The fall in property values is less than the 2.6% annual decline it recorded in June, which was the biggest annual drop in more than 10 years. Month-on-month, house prices

A leading private equity investor is among the suitors circling Nicotinell, the anti-smoking aid which has been earmarked for sale by its FTSE-100 owner. Sky News has learnt that Inflexion, which has backed companies such as Goals Soccer Centres and Mountain Warehouse, is on a list of bidders in talks with Haleon about buying the

The Financial Conduct Authority (FCA) has promised to investigate unlawful bank closures after the chancellor warned the practice could be “widespread”. Jeremy Hunt told the FCA that he wants to see banks “spell out to an affected customer why they are terminating their payment account”. In a letter to the regulator, he wrote this would

One of Britain’s biggest lenders to small businesses is hatching plans for a £3.5bn tie-up with the Co-operative Bank. Sky News has learnt that Shawbrook Group has approached the owners of the Co-operative Bank in recent weeks to outline plans for a stock-based combination of the two companies. Sources said this weekend that the preliminary

The construction industry has bucked recent trends and returned to growth in July, according to a closely watched survey. Just a month after UK housebuilding fell at the steepest rate in more than a decade – outside the pandemic years – commercial activity and civil engineering work grew, according to the S&P Global/CIPS construction purchasing

Tinder is testing a new tool that lets AI pick your best photos. The feature was detailed during an earnings call with investors by parent company Match, which also owns online dating platforms like OkCupid and Hinge. Chief executive Bernard Kim said it could “take out the stress” someone feels when picking pictures, and help

A final decision is in sight for Microsoft’s protracted bid to acquire the maker of Call Of Duty now that the UK’s competition regulator has closed its public consultation on the matter. The Competition and Markets Authority will consider comments from the public – which were submitted over the past week – and Microsoft’s amended

The new owner of Purplebricks, the online estate agent, is finalising plans to cut more than 100 jobs in a bid to improve its financial performance. Sky News understands that Strike, a rival operator, is close to rubber-stamping plans to axe roughly 15% of Purplebricks’ 695-strong workforce prior to the takeover. Sources close to the

Most of the work done by women around the world is unpaid, according to a new Oxfam report. The charity estimates around 65% of women’s working hours are not remunerated and said official statistics should be changed to recognise their contribution. Oxfam said its analysis of international labour data also found that 45% of weekly

A final set of threatened strikes at London Gatwick this week have been called off after workers voted to accept a 10.3% pay rise. There had previously been warnings of significant disruption at the airport this summer after around 1,000 employees, including those in baggage handling and check-in roles, announced eight days of walkouts. But

House prices will likely fall further in the coming months after a closely-watched index reported the biggest drop in 14 years, experts predict. It comes after Nationwide reported that annual property values declined by 3.8% in July – the sharpish fall since July 2009. The average home is now worth £260,828 – a fall of

BP has recorded a big drop in profits in the first half of its financial year, as energy prices fell from the highs seen after Russia’s invasion of Ukraine. The oil and gas giant reported net profits of just over $2.5bn (£2bn) for the three months to the end of June. It’s half the $5bn

The amount of money borrowed by consumers rose to a five-year high in June as inflation and interest rate pressure hit households, Bank of England figures show. Net consumer credit rose to the highest since April 2018 – £1.7bn was borrowed last month, following a £500m decrease in lending in May. The increase came as

BT, the FTSE 100 telecoms provider, has announced its new chief executive, the first woman to hold the post. It comes after Sky News reported earlier this month that a formal search had begun to replace current boss Philip Jansen as he weighed up a number of job opportunities in the US. The company said

Britain’s biggest mortgage lenders will this week launch a multimillion pound campaign aimed at illustrating the range of support they are providing to cash-strapped customers as the industry faces its most intense scrutiny in years. Sky News understands that a £5m advertising blitz paid for by participating banks will urge customers to ‘reach out’ if

Nigel Farage has launched a website to tackle de-banking following the fallout from the closure of his account with Coutts. The former UKIP and Brexit Party leader sparked a crisis at the prestigious bank’s parent company NatWest after complaining he had been excluded over his political views. It led to the chief executives of both