Business

WhatsApp is delaying the rollout of new business features following a user backlash over the company’s data sharing practices. The delay is a setback for its plan to generate revenue by facilitating commercial exchanges on the messaging app, which Facebook acquired for $19bn in 2014 but has been slow to monetise. WhatsApp has said users

The proprietors of The Daily Telegraph have begun exploring plans for a £3bn-plus flotation of Very Group, their booming online retail operation. Sky News has learnt that the Barclay family is at the early stages of examining whether to take Very to the public markets in order to capitalise on exploding investor interest in digitally

The UK economy returned to a reverse gear in November as tightened coronavirus restrictions took their toll on the fightback from the steepest recession on record, according to official figures. The Office for National Statistics (ONS) reported a 2.6% slump in output during the month – building on a loss of momentum that began late

Norwegian, the struggling European airline that offered cut price transatlantic flights, says a cull of routes will result in the loss of 1,100 jobs at Gatwick Airport. The company, which has been battling high costs associated with a rapid expansion exacerbated by the impact of massive COVID-19 disruption to international travel, said it was to

Tesco has reported a record Christmas across its business but warned annual coronavirus-related costs are on track to hit £810m. The UK’s largest retailer which, like rivals, has benefited from its essential status during the COVID-19 pandemic, said it outperformed the market during each week of the crucial festive season. It revealed a 6.1% rise

UK supermarket chains have demanded government intervention to prevent “unworkable” new Brexit regulations causing disruption to food supplies to Northern Ireland. The chief executives of Tesco, Sainsbury’s, Asda, Iceland, Co-op and Marks & Spencer have written to Cabinet office minister Michael Gove warning that enforcement of new procedures when a grace period expires on 31

The government must make tackling poverty a priority in 2021 or risk being defined by a “record of worsening hardship”, according to a new report from a leading anti-poverty charity.  The “state of the nation” report by the Joseph Rowntree Foundation found that people who were already trapped in poverty were “particularly vulnerable” to the

John Lewis has suspended click-and-collect services at its department stores in the latest tightening of rules for shoppers as the coronavirus crisis intensifies. The department store chain said it was responding to a “clear change in tone and emphasis” from governments across the UK urging the public to stay at home. It came as all

British retail suffered its worst annual performance on record in 2020, new figures reveal. Total sales fell by 0.3% on 2019 – the biggest year-on-year change since the BRC-KMPG retail sales survey began in 1995. Non-food sales dropped by 5% as a result of national and local lockdowns closing non-essential stores offering fashion, lifestyle and

The chancellor has warned that there are tough times ahead for the UK economy as it struggles through a third national lockdown. In an update to MPs on Monday, Rishi Sunak said: “We should expect the economy to get worse before it gets better.” Mr Sunak said restrictions placed on people and businesses were necessary

A record 250,000 small firms are set to close this year under combined pressure from the coronavirus pandemic and Brexit, according to an industry body. The Federation of Small Businesses (FSB) said its survey revealed a “huge cost” ahead for employment without additional support from the Treasury to help mitigate the challenges faced by its

A former Ocado executive who has been involved in the NHS Test and Trace programme will this week be appointed as the next boss of Royal Mail. Sky News has learnt that Simon Thompson, who has worked for companies including Apple, Honda, Lastminute.com and Wm Morrison, is to be named as the former state monopoly’s

Saracens, the Championship rugby club plunged into crisis last year after breaching salary cap rules, has secured new backers even as the coronavirus crisis hammers elite sport’s commercial income. Sky News has learnt that Saracens will this weekend unveil a multimillion pound long-term naming rights and kit sponsorship with StoneX, a global financial services group

Martin Gilbert, the veteran fund management boss, is joining forces with a group of City grandees and former Aberdeen Asset Management colleagues to spearhead a fresh wave of deal-making activity across the sector. Sky News has learnt that Mr Gilbert, who stepped down from the helm of Standard Life Aberdeen last year, will next week

It is fair to say most of America’s business leaders never took to Donald Trump. Now, in the dying days of what has arguably been the most divisive presidency in US history, the gloves are off. US business leaders are taking to the airwaves and queuing up to condemn the outgoing president for egging on

A “high volume” of lorries are being delayed and refused entry at ports including Dover due to “incorrect paperwork” following Brexit, a shipping company has said. One week into the new arrangements, disruption has begun to be felt from Britain leaving the EU’s customs union and single market and operating on new trade terms with