A ban on evicting businesses has been extended to the end of June – but a property industry body said it was a “scandal” that some are not paying rent even though they can afford it. The government said a moratorium on landlords kicking firms out of their premises, due to expire at the end
Business
Just Eat Takeaway has reported a deeper annual loss despite a surge in revenue, driven by high demand for food deliveries during the coronavirus pandemic. The company reported a bottom line loss of €151m (£129.5m) for 2020 compared to €115m (£98.5m) over the previous 12 months. It said the figure reflected its investments including growing
Tesla has led a bounce-back for US tech stocks as its shares surged by as much as 20% partly thanks to figures showing higher sales in China. The electric car company, led by Elon Musk, was also boosted by an analyst upgrade and a wider upturn in investor sentiment which saw the tech-heavy Nasdaq index
The “vaccine effect” is boosting Britain’s economic prospects faster than other European countries, according to the Organisation for Economic Co-operation and Development. EMBARGOED TO 1000 TUESDAY The OECD, a club of developed economies, said it expected the UK’s national output to expand by 5.1% in 2021, some 0.9 percentage points higher than it expected in
Some 5,000 jobs in the steel industry are in the balance after Greensill Capital, one of the UK’s largest speciality finance companies, went into administration today. Greensill, whose advisers include the former prime minister David Cameron, is a major provider of finance to Liberty Steel – the UK’s third largest steel company. Liberty, which is
The Bank of England governor has sounded a relatively optimistic note on the economy, predicting that the coronavirus shock would cause less long-term damage than most recessions. Andrew Bailey also told a Resolution Foundation event that he expected to cut the Bank’s unemployment forecast following last week’s budget and that the Bank’s forecasts suggested the
Starling Bank will on Monday unveil the biggest fundraising in its seven-year history when it announces that it has secured more than £270m from investors including one of the world’s biggest sovereign wealth funds. Sky News has learnt that the digital challenger bank will confirm that its latest share sale will exceed expectations, bringing in
Deliveroo customers will be offered up to £50m of shares in the company’s blockbuster floatation, with the offer branded “Great food with a side of shares”. The restaurant and grocery delivery app will list its shares in London on Monday with a potential value of £7.5bn, making it the biggest market debut in Britain for
Ralph & Russo, the British couture fashion brand which has secured the backing of some of Britain’s wealthiest investors, has deferred salary payments to employees, raising doubts about the state of its finances. Sky News understands that Ralph & Russo informed some staff last month that it could not pay them after seeing sales slump
The founder of Cazoo, the fledgling online car retailer, is weighing a merger with a ‘blank cheque’ company involving some of the best-known names in American finance and technology that could value it at as much as $8bn (£6bn). Sky News has learnt that Alex Chesterman, who set up Cazoo just two years ago, has
Mike Ashley’s Frasers Group has branded the chancellor’s new business rates holiday “near worthless” for larger firms and is an obstacle to it taking on old Debenhams shops. The Sports Direct and House of Fraser owner said the £2m limit on the amount of relief a company can claim means it will have to review
Philip Jansen, the chief executive of BT Group, gave boardroom colleagues an ultimatum over his own future that led to the departure this week of the company’s chairman, Jan du Plessis. Sky News has learnt that Mr Jansen told fellow directors of the telecoms giant over a period of several months that he had become
On The Beach (OTB), one of Britain’s biggest online travel agents, will on Friday appoint Justine Greening, the former Conservative minister, to its board. Sky News has learnt that Ms Greening, who served as transport secretary for a year during the 2010-15 coalition administration, will join the London-listed company as a non-executive director. It will
Rishi Sunak “isn’t really levelling with people” about painful cuts that will be needed to repair the public finances, according to budget analysis by a respected economic think-tank. Institute for Fiscal Studies (IFS) director said “Santa Sunak… looks more like Scrooge Sunak” under plans for a squeeze totalling more than £50bn compared to the pre-pandemic
Here are the key points from Chancellor Rishi Sunak’s budget speech: • Government will continue doing “whatever it takes” to support British people and businesses as well as starting to fix public finances and beginning to build the future economy • Economy expected to return to pre-COVID levels by the middle of next year, six
Furlough will be extended until the end of September, the chancellor will announce, as he unveils more support for workers and the self-employed. Ahead of the budget, Rishi Sunak has revealed that millions of workers will continue to have 80% of their wages paid until the end of September. More than 600,000 additional people, including