Business

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

The epic bets placed by HBO and Amazon with House of the Dragon and The Lord of the Rings: The Rings of Power, so frequently compared since the series’ debuts last year, is in the spotlight once again with the unveiling of this morning’s Emmy nominations, which saw HOTD in the lead at a tally

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

EXCLUSIVE: Regardless of whether SAG-AFTRA goes on strike this week, the studios have no intention of sitting down with the Writers Guild for several more months. “I think we’re in for a long strike, and they’re going to let it bleed out,” said one industry veteran intimate with the POV of studio CEOs. With the

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

Joe Kernen, co-host of CNBC’s Squawk Box, took aim at what he called “mainstream media” hype about the potential for Meta Platforms’ Threads to kill Twitter, insisting he is “not mainstream media.” He also said he “wouldn’t sell Elon Musk short” in the social media competition. This morning’s exchange with Axios business editor Dan Primack

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

Mikala Jones, a Hawaiian surfer pro, has died after a tragic surfing accident. He was 44. Jones was in Indonesia with his family when he “suffered an accident resulting in a wound to the inside of his left groin that was approximately 10 centimeters long,” Surfline reports. According to the outlet, Jones was staying at

More dates have been announced for London Underground strike action this month. The trade union for train drivers, Aslef (Associated Society of Locomotive Engineers and Firemen), announced it is to stage walkouts on Wednesday 26 July and Friday 28 July. Strikes had already been announced by the RMT union, representing different grades and sections of

Sarah Silverman and two other authors filed class-action lawsuits against OpenAI and Meta, claiming that the companies’ artificial intelligence software programs pilfer from their copyrighted works. The lawsuit reflects a growing debate over when emerging artificial intelligence technology crosses the line into infringing on copyrighted works, a question that came up in a recent congressional

Heads of the UK’s biggest banks have been summoned by the UK’s financial watchdog over concerns interest rates on savings are too low. Higher Bank of England interest rates have led banks to put up mortgage costs, but savings rates are not rising as fast – a situation Chancellor Jeremy Hunt has said “needs resolving”.

In a move to inject some excitement into its regular season, the National Basketball Association has unveiled its new in-season tournament. The NBA Cup is a European cup-style competition that adds some sizzle to the early season schedule. Players on the winning team will get $500,000 each. “This is a concept that has been rumbling

The escalating row between Boohoo and Revolution Beauty, the AIM-listed retailer, is poised to intensify with a complaint to the junior stock market regulator. Sky News has learnt that Boohoo is drafting a letter to the AIM regulatory authorities demanding that Revolution clarifies an earlier stock exchange announcement that the online clothing retailer had obstructed

Elon Musk’s attorneys have filed suit against the law firm that represented Twitter when Musk was trying to buy the company last year, claiming an overcharge when the company was transitioning to new ownership. Wachtell, Lipton, Rosen, and Katz, which was Twitter’s firm prior to Musk’s acquisition, racked up a $90 million “last minute” legal

BT Group has kicked off a formal search for a successor to Philip Jansen, its chief executive, as he weighs a number of job opportunities in the US. Sky News has learnt that BT is working with the search firm Spencer Stuart on a process to identify a successor to Mr Jansen, who took on

EXCLUSIVE: As SAG-AFTRA prepares for a possible strike next week, Fran Drescher, the guild’s president, said in a recent email chain that she was willing to go on strike in 2021 over Hollywood’s Covid vaccination mandates. Drescher, who had been the leading voice among union leaders against the mandates, on Thursday told critics who accused

Britain’s biggest water company is this weekend corralling its shareholders to support a major capital injection as it prepares to publish delayed annual accounts. Sky News has learnt that Thames Water has secured backing from investors including Omers, the Canadian pension fund, and the Universities Superannuation Scheme (USS) for a commitment to provide new equity. Further

On Thursday, a lawyer for Elon Musk’s Twitter accused Meta of leveraging “trade secrets” to launch its Twitter competitor, Threads, which garnered more than 30 million sign ups in its first 24 hours of operation. Musk’s threats, however, did nothing to slow adoption of the new platform. In fact, user takeup increased. By Friday, Meta