Business

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

Pilots are calling for urgent action after claiming the government’s “ludicrously cautious” travel restrictions caused the UK’s aviation industry to be “the hardest hit in Europe”. The British Airline Pilots’ Association (BALPA) has accused ministers of appearing to “deliberately attack” the sector with the measures they have imposed during the pandemic. The union is calling

Foreign holidays as normal this summer “was never going to be the case”, Justice Secretary Robert Buckland has said as he defended the government’s COVID travel policy. Mr Buckland said “significant trade-offs” have had to be made to ensure COVID cases are kept down, with international travel restricted to “prevent inadvertent spread of new variants

One of the world’s biggest buyout firms is weighing a spectacular £5.5bn takeover bid for Wm Morrison, Britain’s fourth-largest supermarket chain by market share. Sky News has learnt that Clayton Dubilier & Rice (CD&R) is in the early stages of evaluating an offer for the grocer, a move that would send fresh shockwaves through the

AstraZeneca and the EU have both claimed victory in a court ruling over the supply of COVID-19 vaccines. The two sides have had a rocky relationship over the past few months, with the European Union accusing the vaccine maker of not producing supplies fast enough. AstraZeneca was contracted to do its best to deliver 300

A sharp fall in demand for groceries, as pubs and restaurants reopened to indoor customers, has driven a decline in retail sales volumes. The Office for National Statistics charted a surprise 1.4% fall in retail sales between April and May. Economists had predicted growth of 1.6% on the back of a 9% surge the previous

The UK’s economy will bounce back to pre-COVID levels by the end of 2021 despite the end of lockdown being delayed, the CBI has forecast – a year earlier than expected. However, the business group has warned of devastation for some still-closed sectors if they are not given more support. The CBI has upgraded its

A deal to resolve a trade dispute over aircraft subsidies for at least five years has been cheered by Scotch whisky producers who were slapped with tariffs under the row. Tariffs were imposed on single malt by the Trump administration in 2019 despite the industry not being part of the historic spat over state support

Four social media influencers have been rebuked by regulators for repeatedly failing to disclose advertising on their accounts. Chloe Ferry, Chloe Khan, Jodie Marsh and Lucy Mecklenburgh are the first to be named by the Advertising Standards Agency on a dedicated webpage. The ASA contacted each of them with a request for assurances that clear

Britain’s product safety regulator has been slow to respond to dangers such as those posed by mini magnets because it lacks the data and intelligence needed to assess risks, a report has found. The Office for Product Safety and Standards (OPSS) received a report about the magnets, which can cause serious injury if swallowed, in