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Super League six face £25m fines if ESL debacle repeated
The six English football clubs which secretly agreed to play in a European Super League (ESL) are to pay a combined £22m penalty but face a much higher bill if such a breakaway is attempted in future, under a deal with the Premier League.The punishment was confirmed hours after a report by Sky News that …
Business
Sky News
Zara owner Inditex sees global sales top pre-pandemic levels
Zara owner Inditex – the world’s biggest fashion retailer – says sales have recovered to pre-pandemic levels over the past month, with the vast majority of its stores now open.The Spanish group – which has nearly 7,000 shops worldwide, including around 100 in the UK – said its recovery after the COVID-19 crisis “continues to …
Business
Sky News
Govt broke law by awarding COVID contract to firm with links to Cummings
The government broke the law by handing a coronavirus contract to an associate of ministers and the prime minister’s former chief aide, a judge has ruled.In a judgment on Wednesday, the High Court deemed the awarding of the £560,000 arrangement to communications agency Public First, which has connections with cabinet minister Michael Gove and Dominic …
Business
Sky News
Flying taxi start-up Vertical Aerospace in $2bn SPAC merger
A British ‘flying taxi’ company set up by the founder of OVO Energy is in advanced talks about a $2bn ‘blank cheque’ merger that will see another major British technology company heading for the US public markets.Sky News can exclusively reveal that Vertical Aerospace, which was established by Stephen Fitzpatrick five years ago, is close …
Business
Business Weekly
It’s the tooth! Lion healed by Cambridge dental anaesthesia device
A revolutionary anaesthesia device developed by NHS clinicians in Norfolk and delivered through Cambridge technology from Medovate has been used in world-first dental surgery on a lion at a Scottish zoo rescued from a Belgian circus. The device – SAFIRA® – was developed by Cambridge based Medovate with four consultant anaesthetists at The Queen Elizabeth …
Business
Sky News
BA and Ryanair investigated for refusing refunds during lockdowns
British Airways and Ryanair are being investigated over whether they broke consumer law by refusing to give refunds to people “lawfully unable to fly” during lockdowns.The Competition and Markets Authority (CMA) said it had launched enforcement action against the two firms and was concerned that by failing to offer customers their money back it had …
Business
Business Weekly
Honeywell to invest c$300m in Cambridge Quantum Computing merger
The UK’s leading quantum computing company, Cambridge Quantum Computing (CQC), is combining with Honeywell Quantum Solutions (HQS), establishing the world’s most advanced, fully integrated quantum computing company. The new combined company will be headed by CQC’s CEO Ilyas Khan, who becomes CEO of the new entity, which will be based in Cambridge UK and Broomfield, …
Business
Sky News
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 …

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