Sales of consumer cannabis products have undergone an “accidental” boom during the pandemic that will see the popularity of cannabinoids exceed the market for Vitamins B and C combined, according to industry groups. The industry estimates the market for products containing cannabis extracts will reach £690m this year, more than double the £314m of sales
Business
The UK is set to relax restrictions for visiting a handful of countries under a new traffic light system. Those returning to the UK from countries on the green list will not need to self-isolate for 10 days, while visitors to countries on the amber list will have to quarantine and get tested on their
Liberty Steel has appointed four new directors to “accelerate the restructuring and refinancing” of the troubled business. The shake-up could involve selling off poorly performing parts of the company, whose employees have been facing uncertainty after the collapse of its main lender Greensill in March. Sanjeev Gupta, whose GFG Alliance business empire controls Liberty, last
Tinder’s parent company Match Group has set its sights on a “summer of love” surge for its global dating platforms as coronavirus vaccinations increase and economies reopen. Match forecast revenue for the April-June quarter of up to $690m, 24% up on the same period last year and ahead of estimates pencilled in by analysts. That
There is growing evidence the economy is finding a new gear following more than a year of coronavirus disruption, with two readings of activity showing record rates of growth for this century. First, data from the Bank of England showed the biggest net increase in mortgage lending on record during March – driven by tax
A former member of Ed Miliband’s shadow cabinet is joining the board of Cazoo, the second-hand car retailer which is preparing to drive onto the US stock market in a $7bn deal. Sky News has learnt that Luciana Berger, who spent nearly a decade representing Labour and then the Liberal Democrats as MP for Liverpool
David Ross, the billionaire co-founder of The Carphone Warehouse and prominent Conservative Party donor, is to step down as chairman of the Royal Opera House (ROH) just months into a four-year tenure. Sky News has learnt that trustees of the globally renowned institution in London’s Covent Garden have begun preparing to find another long-term chairman
Today’s quarterly results from AstraZeneca are a very timely reminder that, for all the debate about the drug-maker’s involvement in the Oxford COVID vaccine, it is of very little importance to the financial fortunes of what is currently the fifth-largest company in the FTSE 100. In fact, AZ is actually losing money on its involvement
Business leaders have raised concerns that the UK’s fast growth in offshore wind is not being matched with benefits to the economy. The port of Blyth in Northumberland was once the biggest exporter of coal in Europe but has transformed itself into a leading hub for offshore energy, and most of its work is with
The boss of Virgin Atlantic said there was “no reason to delay” the return of US-UK travel next month – as the carrier reported an £858m annual loss. Virgin, which has cut thousands of jobs with flights grounded during the pandemic – and last autumn completed a rescue deal with investors – said passenger numbers
House prices rose at their biggest monthly rate since 2004 in April after Rishi Sunak extended a holiday on stamp duty, according to new figures from lender Nationwide. Prices climbed by 2.1% compared to March while they were up by 7.1% compared to the same period last year, the report said. The chancellor introduced a
The number of people looking to buy property in Cornwall has risen by more than 140% – the highest growth rate of any county in Britain. Analysis for Sky News by the property website Rightmove has found more than 15 million people searched for properties in Cornwall in the first quarter of this year, compared
Barclays was given a thumbs down from the City despite a bumper rise in quarterly profits to £2.4bn and growing optimism about the UK’s recovery from the COVID-19 downturn. The lender delivered earnings of £2.4bn in the January-March period, up from £923m a year ago when the economic picture was darkened by the prospect of
BT has confirmed that it is in “early discussions” over BT Sport – following a report that it was in talks to offload a stake in the TV operation. The Daily Telegraph said the telecoms giant was understood to be in talks with potential partners including Amazon, Disney and sports streaming service Dazn, as well
State-backed lender Natwest has reported a sharp rise in profits as it followed rivals in clawing back some of the money set aside to cover loans going bad. The bank, which remains 60% owned by the taxpayer, said pre-tax operating profits rose 82% to £946m for the first quarter partly thanks to a £102m release
Facebook’s financial results have exceeded expectations but the company’s growth could decline significantly under Apple’s new privacy policies. The social network said its monthly active user count rose 10% to 2.85 billion and net income for the first quarter was $9.5bn (£6.8bn) – compared with $4.9bn (£3.5bn) a year earlier. Total revenue, which is primarily