Business

Tesla stocks have slid to their lowest value in more than two years as the electric car maker plans to reduce its production cycle and investors worry how much time Elon Musk is dedicating to managing Twitter. Musk emailed Tesla staff telling them not to be “bothered by stock market craziness” and that Tesla will

Border Force, rail and driving test staff are resuming strike action today – but strikes by waste collection workers in Wirral have been called off after a pay offer was accepted. Those striking on Wednesday include: Members of the Transport Salaried Staffs’ Association (TSSA) at Great Western Railway will walk out from noon to 11.59am

The number of Boxing Day shoppers rose by 50% across the UK but remained below pre-pandemic levels as cost of living pressures weigh on consumers. More shoppers were drawn to Boxing Day sales this year than last in all retail settings across the UK, according to data from retail analytics company Springboard. By 12pm today

The guide to getting a Boxing Day bargain Reena Sewraz, from Which?, says there are ways to keep costs down no matter what you’re in the market for. Make sure deals are genuine: Some special offers may not be as special as they appear. Use price-tracking websites to check the history of a price. Shop

Elon Musk says Twitter is “not on the fast lane to bankruptcy anymore”, but admits there is “still much work to do”. Since he took control of the social networking platform in October, having paid $44bn (£38bn) for it, Musk has not had an easy ride. He made a number of controversial policy decisions and

The prominent investment management firm GAM Holding is intensifying discussions over a potential sale months after it was forced to issue a profit warning. Sky News has learnt that GAM, which has assets under management of approximately CHF74.5bn (£66.38bn), is working with bankers at UBS to field interest from prospective bidders. The process is said

Tesla chief executive Elon Musk has said he will not sell any more of his stock in the company for two years. Mr Musk, who founded the electric vehicle-maker, was speaking on a Twitter Spaces audio chat when he said the economy is likely to be in a “serious recession” next year. Tesla’s board is

Snug, a British sofa manufacturer, is in talks about a sale four years after its launch. Sky News understands that Snug, which was founded by Rob Bridgman, is working with the accountancy firm Evelyn Partners to find a buyer before the end of the year. Sources said a deadline of 23 December had been set

As a symbol of the year in crypto, the sight of Sam Bankman-Fried being hustled out of court in Nassau to a blacked-out SUV that would take him to an airfield, and an extradition flight to New York, takes some beating. For the highest-profile player in cryptocurrency, 2022 has come to an abrupt and unforgiving

Rishi Sunak and Ursula von der Leyen have insisted they will work together to find a solution to the row over the Northern Ireland Protocol, as pressure grows to break the diplomatic deadlock. In a call on Thursday, the prime minister and the European Commission president discussed the post-Brexit trading arrangements in Northern Ireland. A

Cryptocurrency trading is “too dangerous” to remain outside mainstream financial regulation and could pose “a systemic problem” without action, the deputy governor of the Bank of England has warned. Speaking for the first time since the founder of the crypto trading platform FTX was arrested and charged with massive fraud, Sir Jon Cunliffe told Sky

The average UK property is £17,500 more expensive now than a year ago though house price growth has slowed and London properties are nearly 25% cheaper than five years ago, according to data from property website Zoopla. House prices have risen 7.5% over the past year, though the increase has slowed in the past three

An insolvent solar farms empire which received hundreds of millions of pounds in funding from a debt-laden English local authority is being put up for sale. Sky News has learnt that Interpath Advisory, which was appointed administrator to Toucan Energy last month, will confirm on Friday that KPMG, the accountancy firm, has been hired to

Given the drama of 2022, there is no guessing what 2023 will throw at us. Still, that needn’t stop us having a shot, so without further ado, here are some of the charts that might help tell the story of 2023. 1. The gas divergence One of the most curious things about 2022 was that

Government borrowing reached the highest amount for November since records began in 1993, official data shows. Last month, net public sector borrowing – excluding public sector banks – totalled £22bn, according to figures from the Office for National Statistics (ONS). The figure was up by £13.9bn compared to November 2021 and nearly £9bn higher than

Elon Musk has said he will resign as CEO of Twitter “as soon as I find someone foolish enough to take the job”. The Twitter boss said following that he would “just run the software and servers teams”. It comes after Musk launched a poll asking users for their verdict on his tenure, saying he

When looking back at the year gone by, it is rather hard to know where to start. The death of a monarch, war in mainland Europe, the shortest running prime minister of all time. It has been an extraordinary 12 months of news, especially for the economy. Rather than running through the whole thing in

The business secretary has ordered an investment firm backed by sanctioned Russian oligarchs to sell regional broadband provider Upp, citing national security concerns. Grant Shapps ruled that the ownership of LetterOne, known as L1, was a national security risk. Its investors include the sanctioned Russian businessman Mikhail Fridman. The decision was made under the provisions

The founder of Xpediator, a London-listed logistics company, is hatching a plan to take it private. Sky News understands that Stephen Blyth, who stepped down as Xpediator’s chief executive in 2020, has assembled financial backing for a takeover offer. The identity of Mr Blyth’s backers and the price at which a bid would be pitched

Visits to high streets slumped last week, according to industry data showing a “key” impact from rail strikes amid wider evidence of a hit to the economy from the industrial action. Springboard reported that shopper numbers across Britain fell 4.6% last week versus the week before amid the disruption to public transport – also blamed