The US has delayed its removal of trade tariffs on UK steel and aluminium products amid concerns at the government’s approach to the dispute with the EU on post-Brexit trade rules affecting Northern Ireland. The move was met with a defiant response from Whitehall as a spokesperson said it would not “affect the UK’s approach”
Business
Business owners across the hospitality industry say COVID rule changes are already having a “chilling” impact on bookings. Many who have survived 20 months of lockdowns and restrictions as well as a “lost” Christmas last year, say a strong festive period this year is essential to their survival. Data from reservations website OpenTable also suggests
The world’s rich nations must help vaccinate the poorest nations or else they will face a continual cycle of economic shocks and restrictions in the face of new variants, the OECD’s chief economist has said. Laurence Boone told Sky News that the Omicron variant could cause the Organisation for Economic Co-operation and Development to downgrade
Facebook’s owner Meta has been issued a legally binding order to sell the GIF library Giphy after an investigation found the takeover “could harm social media users and UK advertisers”. The Competition and Markets Authority (CMA) launched an in-depth investigation into the deal in April after raising a number of concerns. It subsequently warned of
EasyJet has told investors it is expecting passenger numbers to return to pre-pandemic levels next summer despite uncertainty over the winter months ahead as coronavirus restrictions grow across Europe. The no-frills carrier said it had seen early signs of a softening of bookings since the emergence of the omicron variant but it was too early
Asda has chartered its own cargo ship to ensure that it is well stocked with festive decorations, toys, clothes and gifts amid a global supply chain crisis. Britain’s third-biggest supermarket chain also said it had increased the volume of turkeys and pigs in blankets available in stores compared with last year. Meanwhile the retailer’s depots
Stock markets across Europe have recovered some losses at the open despite lingering fears the omicron variant will knock the global economic recovery from coronavirus pandemic damage. Following a bloodbath for shares globally on Friday, that saw the FTSE 100 in London suffer its worst daily percentage losses since June 2020, values rebounded somewhat. However,
Deliveroo is close to naming Goldman Sachs as one of its new brokers, eight months after the Wall Street bank played a major role in what became one of the London stock market’s most calamitous listings. Sky News has learnt that Deliveroo is close to finalising the appointments of Goldman and Barclays as joint corporate
The owner of Butlin’s is preparing to put it up for sale amid a boom in British staycations, sparking a potential bidding frenzy for the country’s best-known chain of holiday camps. Sky News has learnt that Bourne Leisure, which also owns Haven and Warner Leisure Hotels, recently picked investment bankers to conduct an auction of
News of a potentially fast-spreading new coronavirus variant has already triggered a violent reaction on markets and in a number of different asset classes. While much attention has naturally alighted on equity markets, with big falls in the FTSE-100 and continental European indices such as the DAX in Germany and the CAC-40 in France, probably
More than £65bn was wiped off the UK stock market on Friday, reflecting fears that a new coronavirus variant could wreak further havoc on international business and travel. The FTSE 100 fell more than 3%, or 240 points, as the market opened on Friday morning, following steep drops in global markets. Shares in major airlines
Amazon’s largest UK warehouse is being blockaded by climate activists in Black Friday protests. Extinction Rebellion‘s Black Friday demonstration, with about 20 activists, started at 4am at the distribution centre in Dunfermline, Fife. The group said it was also targeting Amazon sites in Doncaster, Darlington, Newcastle, Manchester, Peterborough, Derby, Coventry, Rugeley, Dartford, Bristol, Tilbury and
Retailers are putting up prices at the fastest rate since 1990 according to industry figures that add to evidence of a cost of living squeeze this winter. A CBI survey also suggested that sales have been boosted by consumers starting their Christmas shopping early because of fears over supply disruption. Clothing and department stores saw
Hospitality firms face a “major challenge” from higher energy and staff costs as they seek to rebuild following the pandemic, bar and pub operator Mitchells & Butlers has warned. The company behind brands such as Harvester and All Bar One reported a second year in a row of annual losses though said in recent weeks
Bulb, Britain’s seventh biggest energy supplier, has formally entered into administration – becoming the biggest victim so far of the crisis in the industry. The collapse – confirmed by the government on Wednesday night – comes after the company, which was launched in 2015 and has 1.7 million customers, confirmed earlier this week that it
The president of the CBI has called on the prime minister to “stop hiking taxes and focus on boosting investment” in a rebuke over the increasing burdens being placed on business. Lord Bilimoria will cite policies such as plans to increase corporation tax and national insurance in a speech to the business organisation’s annual conference.