Business

A former Unilever executive is being lined up to take the helm of the Whitehall agency which oversees taxpayers’ interests in businesses including the Post Office, NatWest Group and Channel 4. Sky News has learnt that Vindi Banga, who sits on the board of GlaxoSmithKline and chairs the cancer charity Marie Curie, is expected to

There are fears “many thousands” of people will lose their jobs as the furlough scheme is gradually phased out – and the government is being urged to ensure those made redundant are given help to retrain. Changes from today mean employers will be asked to contribute 20% towards the salaries of those whose wages are

The UK is “closing in on” striking an agreement in principle with New Zealand, the international trade secretary has said. Liz Truss said “great progress” had been made in the sixth round of discussions between the two sides, which took place from 19 to 30 July. “We’re closing in on an agreement in principle, with

Up to a quarter of supermarket milk deliveries by the UK’s biggest dairy supplier have been unable to get through because of a shortage of lorry drivers. Speaking to Sky News, managing director of Arla Foods UK Ash Amirahmadi warned of a “summer of disruption” unless bold action is taken by the government to tackle

Amazon’s new boss is facing a sales slowdown as the breakneck pace of expansion fuelled by stay-at-home shopping eases. Andy Jassy, who took over from founder Jeff Bezos earlier this month, saw shares fall 7% in after-hours trading as his first set of results as chief executive revealed revenues short of Wall Street expectations. Second

Between 1.1 million to 1.6 million workers remain on full or partial furlough as taxpayer aid for the wage support scheme prepares to be eased further, according to official estimates. A survey by the Office for National Statistics (ONS) showed that businesses continued to claim COVID-19 salary aid on behalf of between 4% and 5%

The competition watchdog has imposed fines totalling £100m in the latest case of so-called price gouging that saw patients lose access to a free drug on the NHS. The Competition and Markets Authority (CMA) found that pharmaceutical company Advanz charged “excessive and unfair prices” for supplying liothyronine tablets, which are used to treat thyroid hormone

Airlines are putting pressure on the government to exempt fully-vaccinated Americans and EU visitors from quarantine on their arrival to the UK. Amid widespread reports ministers could announce such a move as early as Wednesday, British Airways and Virgin Atlantic – as well as Heathrow Airport – have claimed a recent trial demonstrates how international

Britain’s economy will grow faster than any major economy in Europe as it rebounds from the COVID-19 recession and emerges from lockdown, the International Monetary Fund (IMF) has predicted. In the latest update to its World Economic Outlook – its periodical look at the state of the global economy – the IMF forecast that the

China’s government has just provided investors with another reminder of why they should tread carefully when putting money into the country. At the end of last month, the Chinese ride-hailing app Didi made history when it floated on the New York Stock Exchange with a valuation of $70bn, making it the biggest IPO of a

Ministers are reportedly exploring how to block China’s state-owned nuclear energy company from future power projects in the UK. The change in Britain’s stance towards China General Nuclear Power Group (CGN) could affect the £20bn Sizewell C nuclear energy project in Suffolk, the Financial Times reported. France’s EDF is scheduled to build the Sizewell site

Kwasi Kwarteng, the business secretary, has ordered officials to launch a national security probe into the £2.6bn takeover of Ultra Electronics, a key supplier of military technology, by Cobham, the former London-listed defence group. Sky News has learnt that Mr Kwarteng has told civil servants at the Department for Business, Energy and Industrial Strategy (BEIS)

Selfridges has been put up for sale in a move that could net its Canadian billionaire owners as much as £4bn. The department store chain reportedly attracted bid interest last month, prompting the Weston family to order a formal auction process. It is understood that advisers at Credit Suisse are leading the sale and hope

The food industry tycoon known as the ‘chicken king’ has told Sky News the so-called ‘pingdemic’ staffing crisis is just a small part of unprecedented pressures on supplies, with food shortages already being felt. Ranjit Singh Boparan, whose interests include the 2 Sisters Food Group (2SFG) and a string of casual dining brands, used an

Heathrow Airport has urged the government to reopen the UK economy to fully vaccinated travellers from the European Union and United States by the end of the month after revealing coronavirus crisis losses of almost £3bn to date. The company said expensive COVID-19 testing requirements were hampering an effective reopening of the skies while it

Ryanair has raised its passenger forecast following a recovery in summer bookings but reported a sharper first quarter loss, saying the coronavirus crisis “wreaked havoc” on Easter demand. Europe’s largest airline by passenger numbers said it now expected to fly between 90 and 100 million people in its current financial year to the end of

Senior ministers are set to discuss extending the rollout of daily COVD testing sites to ease the concerns of industry and frontline services by allowing further exemptions from isolation for critical workers. The COVID operations sub-committee of Cabinet will meet later to discuss if the number of jobs eligible for the testing regime should be

Marks & Spencer’s chairman Archie Norman has warned of a political “running sore of symbolic proportions” if UK chilled products are banned in Northern Ireland. Mr Norman also said consumers in Northern Ireland faced higher prices and empty shelves as a result of the “pointless and byzantine” way post-Brexit rules are being enforced. The retail

A haulage industry body has rounded on the latest government plans to help ease the shortage of drivers – still estimated at 100,000 and delivering disruption across the economy as a result. Ministers including Transport Secretary Grant Shapps wrote an open letter, published via their Twitter accounts, to insist they understood the severity of the

Boris Johnson and Rishi Sunak have, it is reported, agreed to pay for long term reform of social care by raising national insurance by a penny in the pound for both employers and employees. The move would raise an estimated £10bn annually. The government is braced for unease among its backbenchers because the Conservatives promised