Retailers could be allowed to open their businesses again as early as 12 April, the government has announced. Prime Minister Boris Johnson announced the news to the House of Commons, saying that the reopening of retail would be part of the second step out of England’s lockdown. Progress on the next steps out of lockdown
Business
A restaurant chain has announced plans to almost double its interests in the UK, buoyed by a leap in delivery and takeaway sales during the coronavirus crisis. German Doner Kebab (GDK), which operates a franchise-based model, said it would open 47 new restaurants by the end of this year – building on its current 52
Saga, the over-50s travel and insurance specialist, is in talks about a £170m debt package as it seeks to chart a course through the remainder of the coronavirus pandemic. Sky News has learnt that the company, which rebuffed a takeover approach last year, has kicked off talks with a group of debt funds about refinancing
A specialist finance provider advised by David Cameron, the former prime minister, is in talks with the giant American investment firm Apollo Global Management about a multibillion dollar deal. Sky News has learnt that Apollo is among a number of parties in discussions with Greensill Capital, a London-based firm set up by Lex Greensill a
Tech giant Google has fired the head of its artificial intelligence (AI) ethics programme, claiming she had broken the rules on moving files outside of the company. Margaret Mitchell tweeted the she had been let go by the firm on Friday, with the move coming a month after she had publicly vented about the way
The boss of LloydsPharmacy is facing questions from a prominent MP about its treatment of employees as its American owner plots a £400m sale of the chain. Sky News has seen a letter from Robert Halfon, a member of the Conservatives’ 1922 Committee, to Toby Anderson, chief executive of McKesson UK, querying prospective changes to
The pound passed US$1.40 on Friday for the first time in nearly three years. Just after 1.30pm, the pound was up 0.4% on the day but earlier it hit $1.4024 – its highest since 20 April, 2018. The UK’s rapid COVID-19 vaccination programme has sparked hopes that there might be a sharp economic recovery after
Public sector net borrowing was £8.8bn last month – the first January deficit since 2011. The figure was £18.4bn more than in January 2020 and was also the highest January borrowing amount since monthly records began in 1993. Public sector net debt has now risen by £316.4bn over the 10 months since the start of
The chief executive of Robinhood has dismissed suggestions the zero-commission trading platform tried to stop its own users profiting at the expense of hedge funds during the GameStop saga. Vladimir Tenev was among prominent figures involved in the share trading frenzy last month to give evidence to a House of Representatives’ committee investigating any wrongdoing
Barclays has reported a 30% drop in pre-tax profits as its provision for bad loans due to the pandemic hit £4.8bn. However, the drop to £3.1bn in 2020 was much less than forecast as a strong performance by its investment bank offset cash set aside to cope with losses caused by the economic fallout of
Jaguar Land Rover has announced plans to cut 2,000 non-factory jobs, just days after it committed to its UK plants and revealed a huge investment in a zero emission future. The company said it had begun to inform colleagues on the findings of an organisational review, which is designed to slash costs and create a
UK inflation rose last month buoyed by higher food prices and more expensive household goods, official figures show. The Consumer Prices Index (CPI) increased to 0.7% in January from 0.6% in December, according to the Office for National Statistics. The figure was ahead of analyst forecasts, with many economists having predicted inflation of 0.5% for
Bitcoin has crossed the $50,000 (£36,000) barrier for the first time on the back of surging demand for the so-called crypto king among mainstream investors. The cryptocurrency, which has endured wild swings in its value during a chequered 12-year history, struck a record high above $50,100 on Tuesday, according to the CEX.IO exchange. The milestone
Chancellor Rishi Sunak should ensure next month’s budget secures the economic recovery from the COVID-19 crisis to date rather than try to start fixing the public finances, according to a report. Analysis by the Institute for Fiscal Studies (IFS) and Citi Research warns of a hit to lower-income households ahead, in particular, if the furlough
Jaguar Land Rover has committed to keep all three of its British plants open in the drive for all its models to be fully electric by the end of the decade. The major shift forms a key plank of the carmaker’s plan to become a net zero carbon business by 2039. The firm, owned by
The first guests will check into England’s quarantine hotels today as part of the latest measure designed to prevent new cases of COVID-19. Those arriving in England from 33 high-risk countries will have to quarantine in selected hotels for 10 days, at a cost of £1,750 for a single adult. Health Secretary Matt Hancock said: