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Sky News
‘Hammer blow’ as government advised to drop steel quotas
The government should revoke a series of steel quotas on cheap imports despite warnings it will damage domestic producers, trade advisers have recommended.The recommendation, described as a “hammer blow” by industry bodies, was made by the Trade Remedies Authority (TRA), an arms-length body charged with protecting UK industry from unfair competition. It has advised secretary …
Business
Sky News
Whitbread in firing line over pandemic bonus deferrals
Whitbread, the owner of the Premier Inn hotel chain, faces an investor backlash next week after carrying over executive bonuses accrued during the pandemic despite axing jobs and using state funds to furlough employees.Sky News has learnt that one of the City’s most influential voting services, IVIS, has red-topped Whitbread’s remuneration report ahead of its …
Business
Sky News
PM urges G7 not to ‘repeat the mistake’ of 2008 financial crash during COVID recovery
Boris Johnson has urged world leaders not to “repeat the mistake” of the 2008 financial crisis as they met for talks on how to recover from the coronavirus pandemic.In one of the most high-profile moments of his premiership so far, the prime minister has welcomed G7 leaders to Cornwall for a seaside summit. Follow live …
Business
Evening Standard
‘Britain’s Elon Musk’ becomes billionaire as flying taxis ready for lift-off in London
London serial entrepreneur Stephen Fitzpatrick was today awarded clear billionaire status after his Bladerunner-style flying electric taxi business launched a US float valuing his stake at around $1 billion. The valuation Fitzpatrick’s float puts on his Vertical Aerospace business will add to the £600 million value of his stake in Ovo, the fast-growing green energy …
Business
Sky News
Naked Wines sinks to annual loss despite lockdown sales surge
Naked Wines has suffered a lockdown hangover as it slumped to a £10.7m annual loss, despite growing sales by 68% thanks to a boom in online demand for booze.A splurge on spending to acquire new customers, including a doubling in the advertising budget to £42.3m, helped send the group into the red. The loss for …
Business
Sky News
Raab says ‘ball in EU’s court’ after Macron raises heat in NI Brexit row
Dominic Raab has said “the ball is very much in the EU’s court” with regards to the implementation of the Northern Ireland Protocol , as French president Emmanuel Macron has warned Britain that the Brexit deal is not renegotiable.The foreign secretary told Sky News the EU must be “less purist, more pragmatic and more flexible” …
Business
Sky News
Sunak hails ‘promising sign’ as April reopening sees fastest GDP growth since last summer
Britain’s economy grew by 2.3% in April as the high street and hospitality sector reopened, official figures show.That meant that GDP was a record 27.6% larger compared with the same month last year when the nation was in the grip of the first coronavirus lockdown. Chancellor Rishi Sunak hailed it as a “promising sign that …
Business
Business Weekly
New 210,000 sq ft gateway building changes face of Cambridge Science Park
A new 210,000 sq ft gateway development has been completed on the world-renowned Cambridge Science Park. The building was designed by global architectural practice Scott Brownrigg and developed by property consultant Bidwells on behalf of Trinity College and TusPark. Known as Building 1&2, the development is the final stage of a five-building scheme completed by …
Business
Sky News
Morrisons defends pay policy after investors reject bonus for chief executive
Morrisons has defended increased executive rewards as profits tumbled during the coronavirus crisis last year, following a massive investor revolt.Just over 70% of votes cast at the supermarket chain’s annual general meeting (AGM) rejected the remuneration report for its last financial year. In advance of the virtual meeting, Sky News reported that several investor advisory …
Business
Sky News
Brewdog ‘sorry’ and vows action as ex-staff claim toxic culture
Brewdog co-founder James Watt has apologised and vowed to “listen, learn and act” after a group of ex-employees joined together to allege a culture of fear at the company.The group, calling itself Punks with Purpose, placed an open letter on Twitter in which they described the craft beer specialist’s atmosphere, since its inception in 2007, …
Business
Sky News
Bike-riding telecoms billionaire becomes BT’s biggest single shareholder
Unveiling BT’s full year results, last month, the company’s chief executive, Philip Jansen, made clear he felt the shares were a long term investment.For the second consecutive year, he announced an increase in spending in fibre roll-out, disappointing some shareholders who would rather have seen BT focusing on returns in the shorter run rather than …
Business
Sky News
Murdoch’s News UK mulls bid for The Week
Rupert Murdoch’s British newspaper empire is weighing a bid for The Week, the news and current affairs magazine.Sky News has learnt that News UK, publisher of The Sun and The Times, is among a number of parties which have expressed an interest in acquiring the weekly title from Dennis Publishing. News UK’s interest is at …

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