Business

Mike Ashley, the billionaire high street tycoon, has reignited his long-running campaign against former directors of Debenhams, the department store chain which closed its doors for the last time this year. Sky News has seen a letter from Chris Wootton, chief financial officer of Frasers Group, Sports Direct’s parent company, which argues that Debenhams’ board

Fully vaccinated travellers from the US and EU can now arrive in the UK without having to isolate. The new rules came into effect at 4am on Monday but they have not yet been met by a reciprocal easing of restrictions for travellers from the UK. The new rule applies to England, Scotland, Wales and

A former Unilever executive is being lined up to take the helm of the Whitehall agency which oversees taxpayers’ interests in businesses including the Post Office, NatWest Group and Channel 4. Sky News has learnt that Vindi Banga, who sits on the board of GlaxoSmithKline and chairs the cancer charity Marie Curie, is expected to

There are fears “many thousands” of people will lose their jobs as the furlough scheme is gradually phased out – and the government is being urged to ensure those made redundant are given help to retrain. Changes from today mean employers will be asked to contribute 20% towards the salaries of those whose wages are

An electric vehicle (EV) manufacturer backed by Amazon and Ford is in talks with ministers about building a giant factory in the UK that could include a big state support package. Sky News has learnt that Rivian, which is also backed by the Ford Motor Company and many of the biggest investors in Silicon Valley,

The UK is “closing in on” striking an agreement in principle with New Zealand, the international trade secretary has said. Liz Truss said “great progress” had been made in the sixth round of discussions between the two sides, which took place from 19 to 30 July. “We’re closing in on an agreement in principle, with

Up to a quarter of supermarket milk deliveries by the UK’s biggest dairy supplier have been unable to get through because of a shortage of lorry drivers. Speaking to Sky News, managing director of Arla Foods UK Ash Amirahmadi warned of a “summer of disruption” unless bold action is taken by the government to tackle

Amazon’s new boss is facing a sales slowdown as the breakneck pace of expansion fuelled by stay-at-home shopping eases. Andy Jassy, who took over from founder Jeff Bezos earlier this month, saw shares fall 7% in after-hours trading as his first set of results as chief executive revealed revenues short of Wall Street expectations. Second

The US economy has recovered to surpass its pre-pandemic peak according to official figures – though growth was slower than expected in the latest quarter. Robust consumer spending fuelled by vaccinations and government stimulus helped gross domestic product (GDP) grow at an annualised rate of 6.5% in the April-June period, according to the bureau of

Facebook was given the thumbs down by Wall Street despite doubling quarterly profits as it warned growth will slow sharply in coming months. Shares in the social media giant fell 5% in after-hours trading as it reiterated the likely impact of iPhone privacy policy changes as well as tough comparisons with a strong performance last

Travel bosses have hailed the loosening of COVID rules for US and EU travellers as a move that would “get global Britain back in business”. Shares in British Airways owner International Airlines Group rose more than 3% while there were also rises for easyJet, Ryanair, Tui and engine maker Rolls-Royce. Cruise operators Carnival and Saga

Airlines are putting pressure on the government to exempt fully-vaccinated Americans and EU visitors from quarantine on their arrival to the UK. Amid widespread reports ministers could announce such a move as early as Wednesday, British Airways and Virgin Atlantic – as well as Heathrow Airport – have claimed a recent trial demonstrates how international

Tesla has shrugged off the global chip shortage to notch up quarterly profits of more than $1bn for the first time. The electric car maker led by Elon Musk said it achieved the milestone despite supply chain challenges as it “worked extremely hard to keep production running as close to full capacity as possible”. It

Britain’s economy will grow faster than any major economy in Europe as it rebounds from the COVID-19 recession and emerges from lockdown, the International Monetary Fund (IMF) has predicted. In the latest update to its World Economic Outlook – its periodical look at the state of the global economy – the IMF forecast that the

Kwasi Kwarteng, the business secretary, has ordered officials to launch a national security probe into the £2.6bn takeover of Ultra Electronics, a key supplier of military technology, by Cobham, the former London-listed defence group. Sky News has learnt that Mr Kwarteng has told civil servants at the Department for Business, Energy and Industrial Strategy (BEIS)

Zopa, one of Britain’s biggest digital financial services providers, is in talks with investors about a £100m capital injection that will put it on course to become the country’s latest fintech ‘unicorn’. Sky News has learnt that Zopa has hired JP Morgan, the Wall Street investment bank, to advise on what is expected to be