Author: SKYNEWS

Next has raised its profit forecast for the fifth time in less than a year after reporting better-than-expected sales in the run-up to Christmas.The high street retailer said full-price sales were up 5.7% in the nine weeks to 30 December compared to last year. The figure, revealed in a trading update from the firm on Thursday, is £38m better than the 2% rise it previously forecast for the period.As a result, Next said it was upgrading its pre-tax profit guidance for 2023/24, not including exceptional items, by £20m to £905m.That would represent a 4% rise on the £870m it made…

By 1pm this afternoon, just a few days into the new year, FTSE 100 bosses will have earned more than the typical UK worker makes in a year, according to new estimates.The median pay – the midpoint between the lowest and highest pay – for a FTSE 100 boss stood at £3.81m (excluding pensions) in the financial year ending in March 2023, analysis by the High Pay Centre thinktank revealed. This amounts to approximately £1,170 per hour – assuming the bosses work 12.5 hours a day – which is 109 times the median full-time worker’s wage of £34,963, the thinktank…

The number of new first-time buyers with a mortgage fell last year to the UK’s lowest level in a decade, according to a new report.Yorkshire Building Society said around 290,000 first-time property owners entered the mortgage market in 2023 – a decline of more than a fifth on 2022’s total of 370,287. It comes after the housing market was hit by high mortgage rates and house prices last year, along with the ongoing impact of cost of living pressures on consumers.The building society said 2023’s total was the lowest since 2013, when 260,000 first-time buyers entered the mortgage market.But its…

HSBC has joined a host of rival high street lenders vying to snap up Tesco Bank as its owner mounts a fresh attempt to offload the business.Sky News understands that HSBC has submitted an indicative offer for Tesco Bank, which has about five million customers and employs more than 3,500 people. It was unclear on Tuesday how serious HSBC’s interest is, with rival UK banks Barclays and Lloyds Banking Group also reported to have tabled offers.Tesco’s decision to explore a renewed effort to sell its banking operation was revealed by Sky News last February.One banking industry source said a deal…

Scientists at a university in Scotland believe they have discovered a way to turn waste water from the whisky industry into sustainable fuel.A team from Heriot-Watt University has developed materials that can use waste water from distilleries to produce green hydrogen which, unlike fossil fuels, does not produce carbon when it is burned. Green hydrogen is normally created using fresh water in a process thought to consume around 20.5 billion litres of fresh water every year.The Heriot-Watt team hope the material it has developed will see some of the estimated one billion litres of waste water produced by the distilling…

It’s been a tumultuous year for Hollywood – from the highs of Barbenheimer to the lows of the strikes.The double-whammy of industrial action waged by the Writers Guild of America (WGA) and SAG-AFTRA shuttered production for months. Although it’s back to business, it’s far from back to normal.The stoppage has already led to delays in the release calendar, which could be exacerbated further if there’s a logjam of reshoots and other production work to slog through.Studios will be tightening their belts as they face invigorated union members looking to enforce their new contracts. After COVID all but wiped out trips…

Imported foods may be labelled when they do not meet welfare standards, as the government considers measures to help shoppers “buy British”.Environment Secretary Steve Barclay is set to announce plans to change labelling on goods to clarify if it is produced to the highest standards, as part of sweeping reform to support farmers. Mr Barclay will also speak with major online retailers about ways of helping customers understand where their food comes from, including the option of a “buy British button” on supermarket websites.He will say at the Oxford Farming Conference on Thursday: “British farmers take pride in producing food…

Wearable blood sugar monitors have been life-saving for people with diabetes. Now, some companies are trying to repurpose them as a health tool for everyone.The growth in popularity of the monitors among people without the condition has accelerated in recent years. Zoe, a company selling the monitors in the UK, had more than 200,000 people on their waiting list in 2022 and currently has more than 100,000 users.Lingo, which was launched in 2023, is a wearable device for non-diabetics, produced by Abbott, the American pharmaceutical company behind the world’s most-used glucose monitor for diabetes.But access to the data comes at…

Elvis Presley fans will be able to see a lifesized digital version of the king of rock ‘n’ roll performing on stage in the UK for the first time later this year.The US music superstar is being brought back to life – and it’s a British company behind the project. Layered Reality claims the event, which uses artificial intelligence and holographic projection, will be the “world’s first Elvis immersive experience”. Elvis Presley’s estate has granted access to thousands of the singer’s personal photos and hours of home video footage, and the firm says this is being used to create “never…

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 renewed oil price volatility.On Sunday, Maersk suspended sailings near or via the Suez Canal after one of its giant carriers, the Maersk Hangzou, was targeted by Houthi militants – the latest in a string of attacks on shipping vessels since November. US military helicopters sank three boats, killing 10 militants, after receiving a distress call in the early hours of New Year’s Eve.The response was part of a pledge last month…