Japanese car giant Nissan could announce plans for a battery gigafactory in the UK as soon as this week, Sky News understands. City editor Mark Kleinman said the carmaker’s electric vehicle strategy, tipped to include production of its Qashqai and Juke models at Sunderland, was also expected to confirm the construction of a battery gigafactory.
Business
Burberry is to lose its chief executive Marco Gobbetti, almost five years after he was brought in to turn around the luxury brand’s fortunes. The company said he had notified the board of his intention to step down at the end of the year “to take up another opportunity that will enable him to return
A frenzy of capital-raisings by UK-based financial technology companies will continue this week when a prominent London-listed fund manager takes a £75m stake in Smart, the retirement savings platform. Sky News has learnt that Chrysalis Investments, which has backed companies including buy-now-pay-later lender Klarna, Starling Bank, the digital lender, and the cross-border payments app Wise,
LadBible Group, the youth-focused digital publisher, is exploring a stock market listing or partial sale that would catapult its co-founder into the ranks of Britain’s super-rich. Sky News has learnt that LadBible, which was founded by Solly Solomou and Arian Kalantari in 2012, is working with Zeus Capital, the investment bank, on a review of
A portrait of Prince Philip will feature on a new special edition £5 coin to commemorate the royal’s life. The Duke of Edinburgh had approved the design before his death, the Treasury said, and the coin is now being launched to mark Armed Forces Day on Saturday. It bears the inscription: “HRH The Prince Philip,
A relative of the Whitehall director alleged to have had an extramarital affair with Matt Hancock, the health secretary, is an executive at a private healthcare company which has won a string of NHS contracts. Sky News can reveal that Roberto Coladangelo – who is understood to be Gina Coladangelo’s brother – works at Partnering
Travel firms say the limited expansion of the green list for holiday destinations has sparked a wave of new bookings, despite renewed industry criticism of the government’s handling of coronavirus restrictions. Michael O’Leary, chief executive of Ryanair, accused Transport Secretary Grant Shapps of “sowing confusion” as he told Sky News there was no science-led approach
Changes to the travel green list and plans to open up more holiday hot spots to the double-jabbed are not enough to save the summer for the travel sector, ministers have been told. Business leaders lined up to accuse the government of an overly cautious approach as destinations including Spain’s Balearic Islands, Malta, Madeira and
The Bank of England has raised its expectations for inflation but reiterated its view that the coronavirus crisis-linked spike in price rises of recent months does not represent a looming crisis for the economy. Minutes of the latest meeting of the Bank’s monetary policy committee (MPC), which left interest rates unchanged at their COVID-19 pandemic
The City watchdog has come under renewed pressure over its handling of the London Capital & Finance (LCF) collapse that left thousands of investors nursing losses of £237m. A report by the Treasury select committee of MPs questioned whether the Financial Conduct Authority (FCA) – responsible for regulating financial firms – had met the standards
Inflation pressures facing UK firms hit record levels this month – amid signs that the pace of the economy’s rebound from the coronavirus crisis may have peaked. Growth in business activity in June slipped back slightly from record levels seen the month before according to the latest “flash” UK purchasing managers’ index (PMI). The survey’s
The government is to review the ownership model and remit of Channel 4, opening up the broadcaster to the possibility of being privatised as soon as next year. Separately, the Department for Digital, Culture, Media and Sport said it would also consider clamping down on streaming services such as Netflix and Amazon Prime Video. “Moving
Senior executives at Channel 4 have pushed back against a possible privatisation of the broadcaster by the government, warning some programmes could be cancelled if the changes are approved. The issue is coming to a head as the network announces its best ever financial results after a recovery in advertising revenues and a reduction in
Boris Johnson has pledged not to ditch the “triple lock” on pensions, following press reports that the government was considering scrapping the commitment. A spokesperson for the prime minister said that the promise to annually increase pensions by the highest of either the consumer price index (CPI), wage growth, or 2.5%, would stay in place.
An arm of Sanjeev Gupta’s industrial empire which counts Jaguar Land Rover as its main customer faces collapse within days amid last-ditch negotiations with its lender. Sky News has learnt that Liberty Aluminium Technologies (LAT) is in detailed talks with Close Brothers in an attempt to avert the division being placed into administration. City sources
Flexible rail tickets will be available in England from today, offering savings on certain routes for those who travel two or three days a week. The tickets are part of reforms announced last month and they can be used from 28 June, allowing travel on any eight days in a 28-day period. The Department for