Business

Sir Richard Branson is in advanced talks about a multibillion dollar merger to take Virgin Orbit, his satellite launch company, on to the US public markets. Sky News can reveal that Virgin Orbit is close to finalising a deal to combine with NextGen Acquisition II, a special purpose acquisition company (SPAC) set up by George

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

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

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

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

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%

The six English 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

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

Pub bosses have appealed for the easing of COVID restrictions across the UK, saying the delayed Euro 2020 football championship offers the perfect opportunity to help the industry and beyond recover. The chief executives of Young’s and Greene King were among those to speak out amid jitters that final step on the roadmap for England

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

A coalition of transatlantic airlines have demanded that President 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

Britain’s lowest-paid workers are most at risk of unemployment when the government’s furlough scheme ends later this year, according to a new study. They were also three times more likely to have already lost their jobs during the pandemic, after a “rollercoaster” year, researchers at the Resolution Foundation said. The think tank, which focuses on

The Week, one of Britain’s biggest-selling news and current affairs magazines, has been put up for sale in a move that is likely to attract interest from major newspaper publishers. Sky News has learnt that Dennis Publishing, the magazines and online media group owned by Exponent Private Equity, has hired investment bankers to gauge interest

When considering the landmark deal on global taxation agreed today by the group of seven leading industrialised economies, it’s easy to fixate on the question marks and criticisms – after all, there are plenty of them. It is not as ambitious a deal as many had hoped for. The global minimum corporate tax rate (one

Antony Jenkins, the former Barclays chief executive, is on the verge of a deal with the world’s biggest asset manager that will catapult him into the ranks of Britain’s super-rich. Sky News has learnt that Mr Jenkins, who was sacked as the British bank’s boss in 2015, is close to selling a stake in 10x

Businesses looking to secure government contracts will have to pledge to be net zero by 2050 under new requirements. From September, firms seeking public sector contracts worth more than £5m a year will also have to publish “clear and credible carbon reduction plans” before being considered, the Cabinet Office said. The move, which coincides with