Business

A £15bn National Renewal Fund targeted at more than 20,000 “growth economy” companies needs to be set up if Britain is to avert an “economic catastrophe” triggered by the coronavirus pandemic, the eminent historian Sir Anthony Seldon warns this weekend. Sky News has seen a report produced by Sir Anthony and the Business Growth Fund,

The American buyout firm proposing a £300m cash injection into English football is lining up a former BBC executive to spearhead a revolution in the running of the lower leagues’ commercial operations. Sky News has learnt that TPG Capital is working with Dominic Coles, who steered the corporation’s coverage of the London Olympics in 2012,

Caffe Nero is considering an insolvency mechanism to restructure its financial liabilities as the coronavirus crisis continues to inflict pain on high Street hospitality businesses. Sky News has learnt that the chain, which is one of Britain’s biggest coffee shop operators, is examining a company voluntary arrangement (CVA) as an option to reduce its rent

Official figures show the biggest quarterly leap on record for retail sales, as the sector battles back from the coronavirus lockdown amid renewed restrictions. The Office for National Statistics (ONS) reported a 17.4% jump in volumes in the third quarter of the year covering July to September. The wider figures were much stronger than analysts

West Midlands mayor Andy Street was urged to stop criticising the government by fellow Conservatives when he lobbied the chancellor to provide more support to struggling businesses. Mr Street told Sky News members of his party asked him to keep quiet despite his concerns that Tier 2 COVID-19 restrictions would endanger businesses, and said the

The parent company of British Airways (BA) has revealed further losses and downgraded its outlook as renewed coronavirus restrictions knock demand for travel. International Airlines Group, which includes Iberia and Aer Lingus in its stable of airlines, reported a €1.3bn (£1.17bn) loss for the third quarter of the year to the end of September in

Shares in Tesla have risen after the electric car maker reported its fifth consecutive quarterly profit. The California headquartered company has overcome disruptions caused by the COVID-19 pandemic to post a 39.2% increase in revenues to $8.77bn (£6.68bn) from a year ago. Tesla said it was on track to deliver half a million vehicles in

A one-year spending review has been announced by the Treasury to “focus entirely” on tackling the coronavirus crisis – as official figures show borrowing records continue to be smashed. The government said it would have liked to outline spending plans for the rest of the current parliament, as it had originally intended. But a statement

Liverpool and Manchester United are in talks about a bombshell plot involving Europe’s biggest football clubs to join a new FIFA-backed tournament that would reshape the sport’s global landscape. Sky News has learnt that financiers are assembling a $6bn (£4.6bn) funding package to assist the creation of what could become known as the European Premier

The maker of top cleaning brands including Dettol and Cillit Bang, Reckitt Benckiser (RB), has reported a recovery in condom sales thanks to relaxed coronavirus restrictions. The FTSE 100 company, which has been among the few winners in the COVID-19 crisis to date thanks to its household hygiene and healthcare products, reported a 9.5% lift

Two-thirds of businesses say the government has done a poor job of communicating its plans for a post-Brexit trade agreement, according to a survey. The YouGov online poll of 1,000 businesses showed 21% described the communication as somewhat poor and 45% very poor. Just 8% said the government had done a very good job and

Boris Johnson has claimed the EU has refused to agree to the “Canada-style” trade deal he wanted for the UK so it will now be “more like Australia’s”. Sky News looks at what that could mean for the UK’s future relationship with the EU. What deal does Australia have with the EU? Australia and the

One of the insurers embroiled in a battle with the City watchdog about the payment of claims from coronavirus-hit businesses has begun lining up a successor to its veteran chairman. Sky News has learnt that RSA Insurance Group is working with headhunters on a search to replace Martin Scicluna, who also chairs the supermarket chain

Around two-and-a-half million coins celebrating the contributions ethnic minority communities have made to the UK will enter circulation on Monday. The coins will feature the words “Diversity built Britain”, along with a geodome representing connection and strength. The Treasury says that the new coins show the intent of the Royal Mint and Chancellor Rishi Sunak

A shareholder in Flybe when it collapsed this year with the loss of thousands of jobs is in talks with its administrators about a potentially controversial bid to resuscitate the regional airline. Sky News has learnt that Cyrus Capital, a hedge fund with offices in Mayfair, is behind a plot to reacquire some of Flybe’s

The head of the International Monetary Fund (IMF) has warned Rishi Sunak that “now is not yet the time to balance the books”. In an interview with Sky News, Kristalina Georgieva said the UK must stand ready to spend more to support businesses and households through the second surge of the pandemic. Her comments come