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A reprieve for the Ring after outcry over COVID closure plan
The City’s last remaining open outcry trading floor has won a reprieve.The London Metal Exchange said on Tuesday that trading at its iconic open outcry floor, known as the Ring, would resume on 6 September this year. Ring sessions – which last for five minutes at a time and which see traders seated on padded …
Business
Sky News
Fintech turns £350m Tide with Apax Digital investment
Tide, the digital business banking group, is closing in on a new round of funding led by the growth arm of one of Britain’s biggest private equity firms.Sky News has learnt that the Apax Digital Fund is close to finalising an injection of tens of millions of pounds into Tide in a deal that is …
Business
Sky News
Sausage ban ‘nonsensical’, UK tells Brussels ahead of Northern Ireland talks
Environment secretary George Eustice has described a ban on exporting sausages and processed meats from Great Britain to Northern Ireland agreed as part of the Brexit process as “nonsensical”.Under the terms of the Northern Ireland Protocol a ban will come into force if the UK and EU cannot agree new regulatory standards to cover the …
Business
Sky News
Economies shrinking, sea levels rising: How will banks and insurers cope with climate change?
The Bank of England is to test how big banks and insurers can cope with the risk of rising sea levels, more frequent heatwaves and shrinking economic output caused by climate change.It has published three stress test scenarios to explore what might happen if fresh action is either taken quickly to tackle global warming, delayed …
Business
Sky News
Pent-up demand helps retailers enjoy best sales growth since start of the pandemic
Retailers enjoyed their best sales growth since the start of the pandemic last month helped by pent-up demand for clothes and accessories, industry figures show.Sales in May grew by 10% compared with the same period in 2019, before the coronavirus crisis struck, according to the British Retail Consortium-KPMG retail sales monitor. Clothing chains were among …
Business
Sky News
Crackdown on workplace abuse may include bans for factories underpaying staff
Factories which flout minimum wage rules could face having their goods banned from sale, under plans to improve oversight of workers’ rights.The Department for Business, Energy and Industrial Strategy (BEIS) said the sanction was being considered as it confirmed that a single regulator was to be formed to bolster intelligence, communication and enforcement of rules …
Business
Sky News
Google vows global ad policy shift after France fine for abusing dominance
Google has vowed to make changes to its global advertising business following a settlement with the French competition watchdog, which found it had abused its market dominance.The tech company, which makes most of its revenues through adverts on its search engine and YouTube video platform, was fined €220m (£189m) under the deal. But it included, …
Business
Sky News
US and UK airlines demand end to ‘overly cautious’ transatlantic travel restrictions
A coalition of transatlantic airlines have demanded that Joe Biden and Boris Johnson lift “overly cautious” travel restrictions between the US and UK given the strength of the two countries’ coronavirus vaccine programmes.The companies, which include all the carriers offering passenger services between the nations and other industry players including Heathrow Airport, argued that fully …
Business
Sky News
CVC serves up $600m global tennis merger as ATP and WTA eye match-up
The former owner of Formula One motor racing is in talks about a $600m deal that could transform the face of global tennis by combining the organisers of the men’s and women’s tours under a single commercial entity.Sky News has learnt that CVC Capital Partners is in detailed negotiations about an investment in the merged …
Business
Sky News
Jeff Bezos to travel into space next month for ‘adventure’ with his brother
Jeff Bezos – one of the world’s richest men and the chief executive of Amazon – has said he will travel into space next month.The US business tycoon has invited his brother along for the journey, with the winner of an auction set up by his aerospace company Blue Origin. In a video posted to …
Business
Sky News
Office provider IWG warns of profit hit as workers stay at home despite lockdown easing
Workspace provider IWG has said people are not going back to the office as quickly as they had hoped, warning the trend may impact its profits this year.The company, which owns the Regus brand and competes with brands like WeWork that also offer flexible working spaces, said its profits would be “well below” what was …
Business
Sky News
Price hikes, queues and 12-hour journeys: ‘Furious’ Britons scramble to leave Portugal hours before quarantine rule change
Double the usual number of flights to the UK are due to leave Portugal as holidaymakers scramble to leave on the last day before the country moves to the amber travel list.Thirty-nine flights were due to depart from Faro Airport in the Algarve for the UK on Monday, nearly twice as many as are scheduled …

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