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Sky News
Iceland boss and ex-Tory donor switches support to Labour
Iceland supermarket boss Richard Walker has switched his support from the Conservatives to Labour, saying Sir Keir Starmer’s party is “the right choice” for his customers.Mr Walker, a former Tory donor and the executive chairman of Iceland, said under Sir Keir’s leadership Labour had “progressively moved towards the ground on which I have always stood”, …
Business
Sky News
Ryanair cuts profit forecast after airline removed from booking sites
Ryanair has reported a slump in quarterly profits and narrowed its expectations for annual earnings after some online travel sites stopped selling its flights.The no-frills carrier said it made profit after tax of €15m (£12.8m) over the final three months of 2023, its third quarter, compared to the €211m it achieved in the same period …
Business
Sky News
Channel 4 to unveil deeper job cuts as ad downturn bites
Channel 4 will announce plans this week for deeper-than-expected job cuts amid a steep downturn in the broadcast advertising market.Sky News has learnt that the state-owned broadcaster will say on Monday that it is cutting nearly 250 roles, a figure equating to just over 15% of its full-time workforce of more than 1,300 people. Industry …
Business
Evening Standard
Borrowing costs expected to be held at near 16-year high for longer
Business
Business Live
North East distillery sold to new owners after collapsing with debts of £1m
A North East distillery has been sold to a relative of its original owner after collapsing with estimated debts of £1m. Durham Gin Ltd – which traded as Durham Distillery – went into administration last November after a chain of events triggered by the pandemic led to unsustainable financial pressures. The business, launched by Jon …
Business
Sky News
Post Office chairman ousted amid row with government
The chairman of the Post Office is being forced out of the role amid frustration in Whitehall over the state-owned company’s governance as it reels from the Horizon IT scandal.Sky News has learnt that Henry Staunton, who only became chairman of the Post Office in December 2022 after a long career in FTSE boardrooms, was …
Business
Sky News
Superdry weighs restructuring as sales slump continues
Superdry, the London-listed clothing retailer, is weighing a radical restructuring that could involve significant numbers of store closures and job cuts after reporting weak sales.Sky News has learnt that Superdry and its advisers at PricewaterhouseCoopers (PwC) are initiating work on plans that could lead to a company voluntary arrangement (CVA) or restructuring plan, both of …
Business
Evening Standard
Huge rally to mark 40th anniversary of ban on unions at GCHQ
Business
Sky News
Use Horizon law to protect litigation funding, trade body urges
The legislation being used to exonerate hundreds of sub-postmasters wrongly convicted over the Horizon IT scandal should include measures to protect the specialist finance sector which helped Alan Bates to overturn Britain’s biggest miscarriage of justice, according to an influential trade body.Sky News understands that the International Legal Finance Association (ILFA) wants ministers to use …
Business
Business Live
People on the move: key North East appointments and promotions
Tyneside tech company CEO Darren Jobling has been appointed to the board of the British Board of Film Classification (BBFC). Mr Jobling started his career in the games industry where he pioneered the creation of racing simulations for industry giants such as Electronic Arts, Activision and Take Two. He is now the CEO of Newcastle …
Business
Euro News
EU law on platform workers gets new chance to survive in race against the clock
Business
Euro News
Banks should check client sustainability despite due diligence carveout, lawmakers say

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