The US has delayed its removal of trade tariffs on UK steel and aluminium products amid concerns at the government’s approach to the dispute with the EU on post-Brexit trade rules affecting Northern Ireland. The move was met with a defiant response from Whitehall as a spokesperson said it would not “affect the UK’s approach”
Business
Business owners across the hospitality industry say COVID rule changes are already having a “chilling” impact on bookings. Many who have survived 20 months of lockdowns and restrictions as well as a “lost” Christmas last year, say a strong festive period this year is essential to their survival. Data from reservations website OpenTable also suggests
British households are facing a more expensive Christmas shop after labour shortages and surging costs pushed retail prices higher for the first time since May 2019, according to industry figures. The British Retail Consortium (BRC) shop price index showed a rise of 0.3% in November compared to the same month last year. It follows a
Facebook’s owner Meta has been issued a legally binding order to sell the GIF library Giphy after an investigation found the takeover “could harm social media users and UK advertisers”. The Competition and Markets Authority (CMA) launched an in-depth investigation into the deal in April after raising a number of concerns. It subsequently warned of
EasyJet has told investors it is expecting passenger numbers to return to pre-pandemic levels next summer despite uncertainty over the winter months ahead as coronavirus restrictions grow across Europe. The no-frills carrier said it had seen early signs of a softening of bookings since the emergence of the omicron variant but it was too early
Analysis: This isn’t a surprise By Ian King, Sky News business presenter It is no surprise to see Jack Dorsey stepping down as chief executive of Twitter. There has been disquiet for some time among shareholders at Mr Dorsey serving in that role and also at Square, the fintech payments company he co-founded, with Paul
US fashion designer Virgil Abloh has died at the age of 41 after a private battle with cancer. The influential Louis Vuitton menswear designer and founder of fashion label Off-White was diagnosed with cardiac angiosarcoma – a rare, aggressive form of cancer in 2019, the design house’s parent company LVMH revealed on Sunday. Abloh first
Deliveroo is close to naming Goldman Sachs as one of its new brokers, eight months after the Wall Street bank played a major role in what became one of the London stock market’s most calamitous listings. Sky News has learnt that Deliveroo is close to finalising the appointments of Goldman and Barclays as joint corporate
The owner of Butlin’s is preparing to put it up for sale amid a boom in British staycations, sparking a potential bidding frenzy for the country’s best-known chain of holiday camps. Sky News has learnt that Bourne Leisure, which also owns Haven and Warner Leisure Hotels, recently picked investment bankers to conduct an auction of
News of a potentially fast-spreading new coronavirus variant has already triggered a violent reaction on markets and in a number of different asset classes. While much attention has naturally alighted on equity markets, with big falls in the FTSE-100 and continental European indices such as the DAX in Germany and the CAC-40 in France, probably
More than £65bn was wiped off the UK stock market on Friday, reflecting fears that a new coronavirus variant could wreak further havoc on international business and travel. The FTSE 100 fell more than 3%, or 240 points, as the market opened on Friday morning, following steep drops in global markets. Shares in major airlines
The UK car industry has warned of challenges just to remain operational after it produced just shy of 65,000 cars last month – the weakest October since 1956. The Society of Motor Manufacturers and Traders (SMMT) blamed “production stoppages” linked to the shortage of semiconductors globally for the woeful total, adding that a resurgent coronavirus
Retailers are putting up prices at the fastest rate since 1990 according to industry figures that add to evidence of a cost of living squeeze this winter. A CBI survey also suggested that sales have been boosted by consumers starting their Christmas shopping early because of fears over supply disruption. Clothing and department stores saw
A group campaigning for lower fuel prices has demanded urgent intervention, claiming drivers are being “fleeced” as costs continue to hit record levels. FairFuelUK (FFUK), which has backing from haulage and logistics lobby groups, told Sky News it was clear that the Competition and Markets Authority should look at how “rip-off” pump prices are calculated
Consumers can expect a “scaled-back” Christmas this year as retailers reduce the range of products available to cope with supply chain pressures, MPs have been told. A lack of HGV drivers has strained supply chains and prompted fears of shortages on supermarket shelves this festive season. Shane Brennan, chief executive of the Cold Chain Federation,
Professional football club-owners in England will be overseen by a new licensing regime forcing them to demonstrate fully-funded three-year business plans under proposals to be set out by a former sports minister this week. Sky News has learnt that a review of football’s governance led by Tracey Crouch, the Conservative MP, will outline the new
So bombarded are we now with talk of higher inflation, at least due in part to higher energy prices, it may have escaped some people’s notice that the price of crude oil has been falling for most of the last month. Since hitting an intraday high on 25 October of $86.70, which was the highest
It’s been two years since this government was elected with a mandate to level up the left-behind parts of the UK. Now that the first round of the Levelling-Up Fund has been allocated, we can start to judge whether it will achieve what Boris Johnson set out to do. But while much has been made
The chief executive of AstraZeneca (AZ) has told Sky News that the company’s decision to begin seeking a modest profit from its COVID vaccine is unlikely to kick in until next year. Pascal Soriot said this was because it still had many doses of the vaccine to supply that it had promised to do so