The footwear retailer Clarks is kicking off talks with landlords about store closures and rent cuts, reviving tensions between high street shop-owners and tenants which have been thrust into sharp focus during the COVID-19 crisis. Sky News understands that Clarks and its advisers are meeting with landlords this week to discuss a restructuring that would
Business
The aircraft industry has pleaded for a testing regime for travellers as new figures show its third quarter was the worst on record. There were no orders for new aircraft in the month of September and just 13 orders placed during the financial quarter, a decline of 91.4% on the same quarter last year. July
A British technology company that has helped retail investors access billions of pounds of corporate cash calls during the COVID-19 pandemic will this week unveil a fundraising of its own that will catapult it into the top echelons of UK fintech start-ups. Sky News has learnt that PrimaryBid will announce on Monday that it has
Small breweries in Britain are warning that hundreds of jobs are at risk over government plans to cut tax relief. The Society of Independent Brewers (SIBA) described the proposals as “madness” during a period when many businesses are on the brink of collapse. Under the plans, up to 150 small breweries would have to pay
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