Business

France has suffered a double-dip recession according to revised official figures that showed it had a worse start to the year than previously thought. Europe’s second biggest economy shrank by 0.1% in the first quarter of 2021, sharply revised from an initial estimate of 0.4% growth, statistical agency INSEE said. It was the second consecutive

The staycation frenzy gripping Britain’s leisure industry is spurring another of the country’s biggest holiday park operators to consider putting itself up for sale. Sky News has learnt that Park Holidays, which is owned by the investment firm Intermediate Capital Group (ICG), has appointed bankers to oversee a strategic review that industry sources expect to

The owner of restaurant chains Franco Manca and The Real Greek is going ahead with expansion plans after “very encouraging” trading since the lifting of restrictions on indoor hospitality. Fulham Shore said sales in the first full week following the reopening on 17 May were at 92% of those before the pandemic in 2019, on

Wm Morrison Supermarkets is the latest blue-chip company to find itself in the firing line over bosses’ pandemic payouts after removing the £290m cost of dealing with COVID-19 before calculating executive bonuses. Sky News has learnt that the UK’s third-biggest grocer by market value is facing a big protest vote at its annual meeting next

Nike says it ended its tie-up with football star Neymar last year because he refused to cooperate in an investigation into sexual assault allegations against him by an employee of the sportswear maker. The Brazilian, who became the world’s most expensive player when he signed for Paris St German for €222m in 2017, denies the

New rules banning a “loyalty penalty” on insurance will save consumers £4.2bn over ten years – but could also reduce cut-price switching deals, the UK financial watchdog said. The Financial Conduct Authority (FCA) has confirmed a ban on car and home insurance renewal quotes being any more expensive than they would be for new customers,

The vortex caused by the collapse of Greensill Capital has consumed the fortunes of its eponymous founder Lex, the reputation of former prime minister David Cameron and, most seriously of all, may yet do the same for Liberty Steel and the 3,000 jobs it supports. Rishi Sunak and the Treasury officials who were the subject

Companies such as hotels, bars, restaurants, travel and leisure firms are taking on workers at the strongest rate since late 2015 as hopes for an economic bounce-back grow, new figures suggest A CBI survey pointed to a bounce in jobs growth for Britain’s consumer-facing services sector. The poll showed a balance of +38% when firms

Amazon has agreed to buy film studio MGM for $8.45bn, the two companies said in a statement. The deal brings together “nearly a century of filmmaking history” at MGM with Amazon Studios, which makes films and TV series for customers of its Prime subscription service, they said. “Amazon will help preserve MGM’s heritage and catalogue

There were at least 455 violent or abusive attacks on retail workers every day between March 2019 and March 2020, new research from the British Retail Consortium shows. Such incidents rose by 7% in the space of 12 months, many of which were triggered by staff asking customers to verify their age when buying alcohol

Ireland has no plans to increase its corporate tax rate – one of the lowest in the developed world -  the country’s finance minister has told Sky News, which could scupper Joe Biden’s radical scheme for a global minimum rate. Paschal Donohoe said that he had “significant reservations” over plans floated by the US president

The veteran fund manager Martin Gilbert risks becoming embroiled in a poaching row with his former employer by raiding Standard Life Aberdeen’s (SLA) funds arm to hire an executive for another company where he is a director. Sky News has learnt that Alex Hoctor-Duncan, the global head of Aberdeen Standard Investment (ASI), has quit to

Projects funded by UK financial institutions are responsible for 1.8 times the carbon emissions of Britain’s annual net total, a new report has suggested. The study, commissioned by Greenpeace and WWF, estimated that major UK banks and asset managers were responsible for 805 million tonnes of emissions in 2019, stemming from loans and investments in

Spain has lifted its restrictions on travellers from the UK in a bid to boost its economy. But the country is still on the UK government’s amber list, meaning people should not go unless it is for essential family or business reasons. If tourists do decide to go to Spain, they will need to quarantine

A former Brussels lawmaker will on Monday be appointed to a key City post as Britain’s financial services industry strives to maintain its international competitiveness after Brexit. Sky News understands that Dr Kay Swinburne, a former vice-chair of the European Parliament’s influential Economics and Monetary Affairs Committee, is to be named as the next chair

Six English clubs which sparked uproar by secretly agreeing to play in a European Super League (ESL) are braced for showdown talks with the Premier League next week over a punishment that could include forfeiting part of next season’s broadcast income. Sky News has learnt that the clubs and English football’s top flight will hold