The hospitality industry is facing a recruitment crisis as it struggles to fill thousands of vacancies. Venues are finding it difficult to hire front-of-house staff and chefs as they experience a shortage of 188,000 workers, according to research by UK Hospitality. Bars, pubs, restaurants and cafes have been able to serve customers indoors in England
One of the London stock market’s largest exhibition groups is in talks about a big capital injection that would further underline an ongoing frenzy of private equity interest in UK plc. Sky News has learnt that Hyve Group is in preliminary discussions with Carlyle about a so-called private investment in public equity – or PIPE
France has suffered a double-dip recession according to revised official figures that showed it had a worse start to the year than previously thought. Europe’s second biggest economy shrank by 0.1% in the first quarter of 2021, sharply revised from an initial estimate of 0.4% growth, statistical agency INSEE said. It was the second consecutive
The owner of restaurant chains Franco Manca and The Real Greek is going ahead with expansion plans after “very encouraging” trading since the lifting of restrictions on indoor hospitality. Fulham Shore said sales in the first full week following the reopening on 17 May were at 92% of those before the pandemic in 2019, on
Wm Morrison Supermarkets is the latest blue-chip company to find itself in the firing line over bosses’ pandemic payouts after removing the £290m cost of dealing with COVID-19 before calculating executive bonuses. Sky News has learnt that the UK’s third-biggest grocer by market value is facing a big protest vote at its annual meeting next
Nike says it ended its tie-up with football star Neymar last year because he refused to cooperate in an investigation into sexual assault allegations against him by an employee of the sportswear maker. The Brazilian, who became the world’s most expensive player when he signed for Paris St German for €222m in 2017, denies the
New rules banning a “loyalty penalty” on insurance will save consumers £4.2bn over ten years – but could also reduce cut-price switching deals, the UK financial watchdog said. The Financial Conduct Authority (FCA) has confirmed a ban on car and home insurance renewal quotes being any more expensive than they would be for new customers,
The vortex caused by the collapse of Greensill Capital has consumed the fortunes of its eponymous founder Lex, the reputation of former prime minister David Cameron and, most seriously of all, may yet do the same for Liberty Steel and the 3,000 jobs it supports. Rishi Sunak and the Treasury officials who were the subject
Companies such as hotels, bars, restaurants, travel and leisure firms are taking on workers at the strongest rate since late 2015 as hopes for an economic bounce-back grow, new figures suggest A CBI survey pointed to a bounce in jobs growth for Britain’s consumer-facing services sector. The poll showed a balance of +38% when firms
Amazon has agreed to buy film studio MGM for $8.45bn, the two companies said in a statement. The deal brings together “nearly a century of filmmaking history” at MGM with Amazon Studios, which makes films and TV series for customers of its Prime subscription service, they said. “Amazon will help preserve MGM’s heritage and catalogue
Marks and Spencer is stepping up plans to shrink its store network after it plunged to a £201m loss following a year of lockdowns. The retailer, which currently has just over 250 “full line” sites selling clothing and home as well as food ranges, said it was aiming to cut this number to around 180.
Ireland has no plans to increase its corporate tax rate – one of the lowest in the developed world - the country’s finance minister has told Sky News, which could scupper Joe Biden’s radical scheme for a global minimum rate. Paschal Donohoe said that he had “significant reservations” over plans floated by the US president
Britain notched up £31.7bn of borrowing in April as the costly impact of the COVID-19 crisis stretched into a new financial year, official figures show. The deficit was £15.6bn smaller than in the same month last year – when chancellor Rishi Sunak turned on the spending taps as the first full month of lockdown crushed
Liberty Steel is to sell its Stocksbridge plant as part of the troubled firm’s restructuring in the wake of the collapse of lender Greensill. The sale of the aerospace and special alloys steel business near Sheffield will also see its “downstream” plants at Brinsworth, near Rotherham, and West Bromwich offloaded, the company said. Liberty added
Ministers have been urged to shake up regulation and tax rules to help the UK rebuild its economy after the shocks of COVID-19 and Brexit and as it targets net-zero carbon goals. The CBI is calling for a change in the remit of regulators so that they are required to prioritise “investment, innovation and agility”.
A former Brussels lawmaker will on Monday be appointed to a key City post as Britain’s financial services industry strives to maintain its international competitiveness after Brexit. Sky News understands that Dr Kay Swinburne, a former vice-chair of the European Parliament’s influential Economics and Monetary Affairs Committee, is to be named as the next chair