Public debt has topped £2trn for the first time on record as spending soared to prop up the economy in the face of the coronavirus pandemic. The figure at the end of July was £227.6bn higher than the same month last year, according to the Office for National Statistics (ONS). Image: It is the first
Business
Just one in six workers have gone back to work in cities this summer after companies and staff ignored government pleas to return, leaving economic activity deeply depressed and placing thousands of small businesses at risk of collapse. Figures compiled for Sky News reveal that worker footfall in Britain’s cities was just 17% of pre-lockdown
Mike Ashley’s retail empire, which includes House of Fraser, has warned of further store closures after profits slumped by a fifth. The Frasers Group, which also owns Sports Direct and Evans Cycles, said it had been “the most challenging year in the history of the company”, although it said there was now “a semblance of
President Trump has demanded that Americans boycott Goodyear after the tyre company banned staff from wearing political attire in the workplace. The US leader clearly saw the rule as an attack on his “Make America Great Again” (MAGA) slogan as the country gears up for another bitterly divisive presidential election in November. As is customary,
Commuters face a 1.6% rise in rail fares next year – under a rule pegging the increase to the latest inflation figure. The Retail Prices Index (RPI) measure for July, published by the Office for National Statistics (ONS), is used to cap increases in regulated fares including season tickets on most commuter routes. It is
Pizza Express has revealed plans to close almost a fifth of its UK restaurants under a financial restructuring that places 1,100 jobs at risk. The casual dining chain said it hoped to redeploy some of the staff impacted by the company voluntary arrangement (CVA), first revealed by Sky News, which will also aim to reduce
Former chancellor Sajid Javid has a new job with Wall Street giant JP Morgan. The bank revealed on Monday that Mr Javid – who quit as chancellor earlier this year – has been hired as a senior adviser. Mr Javid is still an MP but will take up a post as a member of the
Ryanair has said it is cutting flight capacity by a fifth in September and October as travel restrictions to some European countries tighten. The Irish airline announced the move shortly before rival easyJet confirmed it was going ahead with previously-announced plans to close bases at London Stansted, Southend and Newcastle airports from 31 August –
More than £37bn worth of property sales were agreed in July – the busiest month for home buying for 10 years, according to property website Rightmove. The spike follows a suspension of the housing market during the coronavirus lockdown, but also coincides with the UK plunging into a recession. The chancellor also cut stamp duty
The Post Office is to appoint one of its army of postmasters to its board for the first time as part of its bid to move on from the multi-million pound scandal which left some of its managers wrongly sent to prison. Sky News has learnt that the government-owned company will announce on Monday that
Debenhams’s owners have begun drawing up plans for the liquidation of the 242-year-old department store chain in a move that could trigger the single-biggest jobs cull of the coronavirus pandemic. Sky News has learnt that Debenhams has appointed Hilco Capital, which specialises in helping to wind down distressed retail businesses, to work with it in
Theatres, casinos and bowling alleys are opening today as part of the latest easing of lockdown restrictions in England. The relaxed measures will also mean tattoo studios, beauty salons, spas and hairdressers can offer additional services, including face treatments such as eyebrow threading. More rules will be eased to allow: Skating rinks, indoor play and
Extending quarantine to a further six nations, including France, is “another devastating blow” to the travel industry already reeling from the COVID-19 pandemic, it has been warned. The decision to impose restrictions on one of the biggest destinations for holidaymakers at the height of summer, having already been done to Spain, will lead to job
France, Malta and the Netherlands are among the new countries added to the UK’s quarantine list. Travellers returning from those countries must self-isolate for 14 days on arrival in the UK. The measure will come into force at 4am on Saturday morning. Mr Shapps said the decision to add France to the list came after
Food sales in UK pubs and restaurants rose by a third in the week following the launch of the government’s Eat Out to Help Out subsidy scheme, research shows. The survey by the data consultancy firm CGA found trade in managed outlets was up by between 95% and 106% on the first three days of
The United States has held off on a threat to expand a 16-year old trade fight with the European Union over trade subsidies. US trade representative Robert Lighthizer confirmed the Trump administration would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods imposed last year following a World Trade Organisation (WTO)