Brexit is done, and for many, there’s genuine relief it’s over. But ongoing disagreements and post-treaty disputes are having real world costs to businesses who say they feel let down and misled by the Brexit process. The row over fishing rights and the threat of retaliatory action from the French have already cost one oyster
Business
The owner of British Airways has placed its hopes for a return to profitability on strong demand for transatlantic travel after posting a loss for its key summer season. International Airlines Group (IAG) said the gradual lifting of COVID-19 travel restrictions in key markets – culminating in the full reopening of the US travel corridor
Liberty Steel boss Sanjeev Gupta has been criticised in a report by MPs looking into the crisis that engulfed the company, as well as the future of the wider steel sector. It claimed that the use by Mr Gupta – once known as the “saviour of steel” – of “high risk financial funding practices” was
The Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month. However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by more than a
JD Sports has reacted angrily after a final ruling from the competition watchdog that it must sell the Footasylum chain bought for £90m in 2019. The Competition and Markets Authority (CMA) revealed its decision following a protracted investigation that saw JD appeal an original finding that it must offload the sportswear brand over fears it
America’s central bank has confirmed that it is to start scaling back its emergency support for the US economy. The US Federal Reserve said that it will start reducing its $120bn a month programme of bond purchases by $15bn a month, which should mean they will end altogether by June. It comes a day before
Financial firms that control around 40% of global assets will align themselves to the Paris Agreement 1.5 degree warming limit, Chancellor Rishi Sunak will say on Wednesday at critical UN climate talks. On “finance day” at COP26 on Wednesday, Mr Sunak will laud the “historic” climate commitment from global firms that control $130tr (£95tr) of
Three of Britain’s biggest high street lenders will this week join an alliance aimed at phasing out the world’s dependence on coal power amid a blizzard of efforts by multinationals to demonstrate their green credentials at the COP26 summit. Sky News has learnt that HSBC, Lloyds Banking Group and NatWest Group will be among 10
France has backed down on immediate threats to ban British vessels from French ports as the two nations continue to feud over post-Brexit licences to fish in UK waters. French President Emmanuel Macron had warned that Paris could block UK boats from landing their catches and impose physical checks on lorries travelling to and from
The Rothermere family is on the verge of a £400m pensions agreement that will pave the way for it to delist the publisher of the Daily Mail and i newspapers after nearly a century as a public company. Sky News has learnt that Rothermere Continuation Limited (RCL) is close to agreeing a deal with trustees
Barclays has revealed that its chief executive Jes Staley has stepped down following an investigation by regulators into his dealings with the disgraced financier Jeffrey Epstein. The bank said on Monday that Mr Staley – its chief executive since 2015 – had gone after being given sight of the preliminary conclusions of a probe launched
A husband and wife team who set up an upmarket outdoor pizza-oven company nearly a decade ago are planning to sell a stake in the business in a deal that could propel them into the ranks of Britain’s wealthiest people. Sky News has learnt that Ooni, is based in Scotland, is in talks to hire
G20 world leaders have endorsed a global minimum tax on corporations as part of an agreement on new international tax rules. The move by the leaders of the world’s biggest economies is a step toward building more fairness amid the surging revenues of some multinational businesses. US treasury secretary Janet L Yellen hailed it as
The Racing Post is galloping towards a £500m sale as its owner looks to cash in on a surge in demand for sports betting data. Sky News has learnt that Exponent Private Equity, which acquired the horseracing bible in 2016, is in talks with investment banks about launching an auction of Spotlight Sports Group, potentially
The prime minister has sought to soothe relations between France and the UK, telling journalists en route to the G20 in Rome that France is one of the UK’s “best, oldest, closest friends and allies”. Asked what he would say to President Macron when the pair meet in Rome this weekend, Mr Johnson responded: “[The]
Over 1,300 of the biggest UK-registered companies and financial institutions will soon have to make various climate-related disclosures. The disclosure standards on climate-related risks were voluntary but, following a recommendation in March, they will become mandatory from 6 April next year, subject to parliamentary approval. Those affected will include many of the UK’s largest traded
The economy has always relied on the labour of people whose work is insecure. But the pandemic left vulnerable workers in precarious and short-term employment at an even higher risk of exploitation, according to a new report seen exclusively by Sky News. The research, compiled by charity Focus on Labour Exploitation (FLEX), found that reports
Middle-income earners are likely to be worse off next year due to inflation and tax rises, according to the Institute for Fiscal Studies. IFS director Paul Johnson was delivering the organisation’s analysis of the budget presented by Chancellor Rishi Sunak on Wednesday. Mr Sunak had labelled it a “budget to usher in a new age
Lloyds Banking Group has posted a pre-tax profit of £2bn in the third financial quarter, a significant improvement on the same time last year. The bank – Britain’s largest mortgage lender – reported a profit before tax of £5.9bn for the first nine months of the financial year. Like its rivals Barclays and HSBC, Lloyds
Here are the key points from Chancellor Rishi Sunak’s budget speech: • The chancellor says there are “challenging” months ahead, adding that inflation in September was 3.1% and is likely to rise further – the OBR expect it to average 4% over the next year • Pressures caused by supply chains and energy crisis will