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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 …
Business
Sky News
Road traffic and ‘social’ spending soars as number of furloughed workers hits new low, figures show
Card spending on travel and eating out hit a new post-pandemic high during the half-term holiday while job adverts in the hospitality sector have surged, according to latest data.The figures were published by the Office for National Statistics (ONS) as part of a regular series of real-time indicators showing the impact of COVID-19 on the …
Business
Business Weekly
Origami wins £20.5m growth capital led by Barclays
Cambridge CleanTech business Origami has raised £20.5 million new funding to help drive its next phase of growth. Barclays PLC led the round, investing as part of its Sustainable Impact Capital initiative, set up to back companies that are focused on sustainability and driving the transition towards net zero. Follow-on investment was provided by Origami’s …
Business
Sky News
Bus and rail passenger numbers bounce back as restrictions ease
Transport operator Go-Ahead said more people are taking its buses and trains than at any time since the start of the pandemic as COVID restrictions ease.It said its regional bus network was seeing passenger numbers at 65-70% of typical levels on most days and at 80% in some regions – up from around 20% in …
Business
Sky News
Delay to end of lockdown would hold back economic rebound, businesses warn
A delay to the lifting of COVID-19 restrictions later this month would “materially” hamper Britain’s economic recovery, a leading business group has warned.The British Chambers of Commerce (BCC) has predicted that a consumer spending surge will see GDP grow by 6.8% this year – but said it would reassess the forecast if restrictions are extended. …

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