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Only 1 in 25 of CEOs in Britain’s largest publicly listed companies are women, according to a new report. Analysis of senior leadership in the FTSE 350 largest companies listed on the London Stock Exchange showed 96% of CEOs are men. This is despite the entry level recruitment often being close to 50:50, according to

The energy regulator has warned the UK is facing a “significant risk” of gas shortages this winter. The information, which was revealed in a letter sent from Ofgem last week and first revealed by The Times, spoke of the possibility of “gas supply emergency” measures to help preserve stocks due to the impact of Russia’s

Prime Minister Liz Truss is to ditch plans to abolish the 45p rate of tax for higher earners, Sky News understands. In a huge reversal on the controversial policy announced in the mini-budget earlier this month, the government is set to make the announcement soon. The 45p income tax cut policy was one of a

Gas and electricity bills are going up as the new energy price cap takes effect. You may have read that from 1 October the price cap will mean average energy bills will increase by 27% from £1,971 a year to £2,500. But it isn’t as simple as that. House prices warning as growth slows to

Liz Truss is set to face a wretched week at the Tory Party conference after the disastrous reaction to Kwasi Kwarteng’s tax-cutting mini-budget. The prime minister arrived in Birmingham on Saturday looking buoyant just hours before yet another injurious poll was released. Hopes to be greeted by an adoring host of members have likely been

The owners of Britain’s second-biggest steel producer are seeking an urgent package of financial support from taxpayers amid renewed fears for thousands of industrial jobs in the north of England. Sky News has learnt that Jingye Group, which bought British Steel out of insolvency in 2020, has told ministers that the company’s two blast furnaces

Consumers are being warned they may be targeted by scammers as the government’s energy price guarantee comes into effect. Messages asking for people to provide personal or financial details to receive support should be treated as fraudulent activity, as no applications are required, the business secretary has said. The £400 Energy Bill Support Scheme will

September has a deserved reputation for being a troublesome month in financial markets. It was, for example, the month in which Black Wednesday saw sterling ejected ignominiously from the Exchange Rate Mechanism in 1992 and the month in which Northern Rock collapsed in 2007. By then, the global financial crisis was well under way, an

Liz Truss and Kwasi Kwarteng will meet the head of the UK’s independent fiscal watchdog today. The talks with the Office of Budget Responsibility come after a week of economic turmoil following last Friday’s mini-budget. It is highly unusual for a PM to attend an OBR meeting – but the Treasury has denied that this

The Bank of England’s chief economist has contradicted the government by saying there is an “undoubtedly a UK-specific component” to the market reaction of the past six days. Huw Pill has counteracted the government’s claim that the market turmoil which followed the mini-budget announcement is down to broader market factors experienced by other economies, such

The government has ruled out a U-turn on the costly tax-cutting mini-budget and the chancellor will not resign despite mounting pressure. It comes after a day in which the Bank of England was forced to launch a temporary bond-buying programme as it took emergency action to prevent “material risk” to UK financial stability. Bank’s ‘nearly

The Bank of England has launched a temporary bond-buying programme as it takes emergency action to prevent “material risk” to UK financial stability. It revealed that it would buy as many long-dated government bonds as needed between now and 14 October in a bid to stabilise financial markets in the wake of the mayhem that

Shoppers are paying a record 10.6% more for food than they were a year ago, figures show. Overall shop price inflation accelerated to 5.7% in September, up from 5.1% in August, in another record since the British Retail Consortium-Nielson IQ index began in 2005. Food price inflation rocketed past last month’s 9.3% to 10.6%, driven

Bank of England’s plain speaking will likely calm some of the volatility of the British economy Ian King Business presenter @iankingsky Central bankers are often accused of speaking in code or of making Delphic pronouncements. But the words today from Huw Pill, the Bank’s chief economist, could not be more clear. Mr Pill, who voted

The overnight fall in the value of the pound, descending to its lowest level against the dollar since decimalisation in 1971, matters because of what it says about global market confidence in the UK economy. The plunge in sterling’s value, against a backdrop of a strong dollar globally, gathered speed on Friday following the publication

The Bank of England says it “will not hesitate to change interest rates as necessary” after markets reacted badly to the chancellor’s tax-cutting mini-budget. In a statement, the Bank said it was “monitoring developments in financial markets very closely in light of the significant repricing of financial assets”. It came after the pound fell to

The pound has fallen to a record low against the dollar. Sterling slipped by nearly 5% to $1.0327, falling below 1985 lows. It stumbled back to $1.05 but is still down some 7% in just two sessions. The fall came after Chancellor Kwasi Kwarteng unveiled the biggest programme of tax cuts for 50 years on

Pendragon, the London-listed car dealer behind brands including Evans Halshaw and Stratstone, has received a fresh £400m takeover approach from its largest shareholder. Sky News has learnt that Hedin Group, which owns roughly 26% of Pendragon, has tabled a 29p-a-share offer for the company. The approach is expected to be confirmed in a stock exchange

GSK, the FTSE-100 pharmaceuticals giant, has poached Burberry Group’s finance chief to create a rare all-female executive leadership team in London’s blue-chip share index. Sky News has learnt that GSK could announce as soon as Monday morning that it has recruited Julie Brown to replace Iain Mackay, who has served as its chief financial officer

The owner of Hoseasons and some of Europe’s biggest holiday rental operations has hired banks to oversee a sale that could value it at up to £2bn. Sky News has learnt that Platinum Equity, a US-based private equity firm, has appointed Goldman Sachs and Morgan Stanley to oversee a strategic review of Awaze, which it

The chancellor has denied suggestions he is gambling with the economy as his raft of tax cuts were met with a hostile reception – and sent the pound plummeting to a 37-year low. The Institute of Fiscal Studies (IFS) said he was “betting the house” by putting government debt on an “unsustainable rising path”. Only