Sales of beer in pubs fell by 56%, or £7.8bn, last year as lockdowns and trading restrictions took their toll, according to industry figures. The report from the British Beer and Pub Association (BBPA) said the trade “cannot continue to hold out under these circumstances” and called for continued financial support even after pubs reopen.
Business
Britain’s beleaguered aviation industry has issued a fresh plea for state help as the government set out plans to quarantine travellers from 33 countries in hotels and tightened testing rules for all arrivals. Travel shares fell after the announcement from health secretary Matt Hancock dampened hopes for a return to normality in time for the
Inequality problems have been made worse for many women during the pandemic with government economic support policies “skewed towards men”, MPs have found. The report by the Commons women and inequalities committee said that while ministers acted quickly to protect jobs and adapt welfare benefits, gender disparities were ignored. Pregnant women and new mothers in
Boohoo is to pay £25m for Dorothy Perkins, Wallis and Burton in a deal set to catapult the fashion brands to an online-only future at the expense of thousands of high street jobs. The online fashion specialist, which has already snapped up the Debenhams name amid the COVID-19 bloodbath for physical retailers, said it was
Amazon and other major internet retailers could be hit with a new online sales tax to help the UK pay its debts after extensive borrowing during the pandemic. Treasury sources confirmed Chancellor Rishi Sunak is considering targeting companies that have done well out of the pandemic to help pay back UK government debts built up
A private equity consortium is threatening to abandon a £1.4bn deal to shake up Italian football’s broadcast rights amid uncertainty over the intentions of some of the league’s top clubs. Sky News has learnt that a group of investors including Advent International and CVC Capital Partners wrote to Serie A’s 20 clubs late last week
The volume of exports going through British ports to the EU fell by 68% last month compared with January last year, according to research. The Road Haulage Association’s chief executive Richard Burnett told The Observer that the organisation had also found 65-75% of vehicles arriving from the EU were returning to the bloc empty. This
Britain’s biggest banks will finalise plans for annual bonus payouts in the coming days, ahead of a results season that will lay bare billions of pounds of anticipated loan losses arising from the coronavirus pandemic. Sky News has learnt that the state-backed lender NatWest Group has informed the Treasury that it wants to hand out
A private equity consortium has approached Aggreko, the FTSE-250 temporary power supplier, about a potential £2bn takeover deal. Sky News understands that TDR Capital, which is in the process of buying the British supermarket chain Asda, and I Squared Capital, an infrastructure fund, have tabled an indicative proposal to Aggreko’s board in recent days. The
Around 15 million families will see their energy bills rise by up to £96 after the regulator hiked the price cap. The return to pre-coronavirus levels is mainly as a result of increase in wholesale costs, according to Ofgem. For six months from 1 April the price cap will increase by £96 to £1,138 for
Mandatory hotel quarantine for UK residents and nationals arriving from countries on the “red list” will come into effect on 15 February – more than two weeks after the move was first announced by the prime minister. Under the policy, people returning from more than 30 high-risk nations will have to quarantine for 10 days
The Bank of England has predicted that the economy will “recover rapidly” this year – as it left interest rates on hold at 0.1%. Latest forecasts from the Bank suggest that after taking a steep downturn during the current period of lockdowns, the roll-out of vaccines and scaling back of restrictions will boost growth for
A cannabinoids company backed by David Beckham will this week become the first company of its kind to formally unveil plans for a main London stock market debut. Sky News can exclusively reveal that Cellular Goods, which makes skincare and athletic recovery products manufactured from biosynthetic cannabinoids, will announce its intention to float as soon
A UK-based pharmaceutical firm that specialises in a cannabis-derived treatment for epilepsy has agreed to be bought in a $7.2bn (£5.3bn) takeover. GW Pharmaceuticals said the cash and stock deal with Jazz Pharmaceuticals – best known for its portfolio of sleep medicines – would create a neuroscience therapy powerhouse. The deal will allow Jazz, which
Amazon has announced its founder and CEO Jeff Bezos is to step down from running the business as it reported record revenues for its core Christmas quarter, topping $100bn for the first time with help from the coronavirus pandemic. The e-commerce, cloud data storage and entertainment giant said Bezos would become executive chair during the
Shares targeted by armchair investors to inflict losses on hedge funds this year have fallen sharply in a sign the activism may have peaked. The market value of GameStop – a struggling US gaming retailer – plunged by up to 50% on Tuesday to roughly $105 a share amid a rollercoaster ride for the stock