Business

Stock markets have responded very strongly to news from the US drugs giant Pfizer and the German biotech company BioNTech that their COVID-19 vaccine has proved to be more than 90% effective in late stage clinical trials. The positive outcome to the trials, which to date have involved almost 44,000 people globally, have raised hopes

Stock markets in Asia have rallied after Joe Biden’s US election victory. Japan’s Nikkei was the most notable gainer, hitting a 29-year high after the confirmation of the result over the weekend. Mr Biden’s defeat of Donald Trump has eased fears about a continuation of a damaging trade war between the US and China, the

One of Britain’s fastest-growing genomics companies is selling a stake to Tencent, the giant Chinese technology investor, as part of a funding round that also includes a major UK pensions provider. Sky News has learnt that Cambridge-based Congenica will on Monday announce that it has secured $50m (£39m) in a Series C fundraising. Legal &

After an £85m refurbishment, the Royal Lancaster hotel was set to take its place as one of London’s premier locations. Then came the coronavirus pandemic. Now, the immaculate lobby is empty. Sebastian, the concierge who worked his way up the ranks over 16 years, waits patiently behind his visor. Image: Sally Beck says ‘resilience, creativity

Supermarkets – including Tesco and Sainsbury’s – are reportedly blocking off access to parts of their stores following advice from the UK government for the English lockdown. It comes after controversy over similar sights in Wales when they went into a two-week national lockdown last month. Following guidance published by the UK government on 5

Rishi Sunak, the chancellor, is plotting an overhaul of the UK’s public company listings regime in a bid to lure more technology ‘unicorns’ to London. Sky News has learnt that Mr Sunak is preparing to announce a review aimed at helping the City compete more robustly with New York’s vast capital markets in a post-Brexit

Deloitte is kicking off talks with potential buyers of its British restructuring business amid expectations of a surge in activity triggered by swathes of coronavirus-inspired insolvencies. Sky News has learnt that Daniel Butters, who heads the big four audit firm’s UK restructuring operations, briefed hundreds of staff this week that he had been given a

Hovis, the 134-year old British bread brand, has been bought by a UK private equity firm following a bidding war. Joint owners Premier Foods, of Mr Kipling fame, and US-based Gores Group sold the brand to Endless for an undisclosed sum days after Sky News revealed that it was close to seeing off competition from

Former BHS owner Dominic Chappell has been jailed for six years for evading £584,000 in taxes. Chappell failed to pay the tax on £2.2m in income he received after buying the chain for £1 in 2015 from retail tycoon Sir Philip Green. Meanwhile he splashed out on a luxury lifestyle which included a £90,000 yacht,

The furlough scheme will be extended until the end of March, the chancellor has announced. Rishi Sunak made the announcement in a statement to MPs, telling them that the payments would remain at 80% of people’s wages. The policy will be reviewed in January, he told the Commons, to “decide whether economic circumstances are improving

Joe Biden has made no secret of his opposition to Boris Johnson’s career-defining flagship policy: Brexit. Mr Biden claims – wrongly, according to the prime minister – that the Good Friday Agreement is threatened by the Internal Market Bill, currently going through the House of Lords. Image: Boris Johnson will be hoping to have a

Nearly 80 business leaders from the north of England are backing a plea to Boris Johnson from the region’s “Red Wall” Tory MPs for a roadmap out of lockdown and a post-Covid economic recovery plan. In a move turning up the heat on the prime minister as England goes into a four-week lockdown, the business

The John Lewis Partnership (JLP) is cutting a further 1,500 jobs through a shake-up of its head office functions to save cash as the coronavirus crisis continues to take a toll on sales. The employee-owned retailer had already shed 1,390 roles in the wake of pandemic disruption this year that saw eight underperforming John Lewis

The one thing financial markets want from the US presidential election is a clear result. The worst possible outcome would be a contested result, as in 2000, when it took 38 days for the US Supreme Court to confirm George W Bush’s victory over Al Gore. Donald Trump’s frequent hints during the election campaign that

Global stock markets have rallied sharply as Americans head to the polls – with the likely impact of any result on economic stimulus preoccupying investors. London’s FTSE 100 was 2% higher in early afternoon trading with European markets also ahead, picking up after gains from Wall Street and in Asian trading overnight. There were further

The announcement of a second lockdown will see the government extend its aid to afflicted households and businesses. There will be a continuation of the furlough scheme as well as similar help for the self-employed, plus further payment holidays for mortgages and other loans. Live coronavirus updates from the UK and around the world Please