The FTSE 100 has climbed above the 7,000 mark for the first time since the early days of the coronavirus crisis. London’s leading share index rose as industrial, banking and mining stocks made gains on growing optimism about economies reopening and recovering across the world. The FTSE 100 was last above the 7,000 mark in
Business
Amazon founder Jeff Bezos has vowed to make his company a better place for its workers. Mr Bezos was writing in an annual letter to shareholders after a union battle at one of the business’s warehouses in the US state of Alabama. “While the voting results were lopsided and our direct relationship with employees is
Deliveroo has revealed that order numbers more than doubled over the last year – but warned its rapid growth will slow as lockdowns ease. The takeaway delivery platform – whose shares slumped on its much-anticipated stock market debut last month – said orders in the first quarter were up by 114% year-on-year. But the company
The cryptocurrency exchange coinbase started trading on Wednesday at a valuation of nearly $100bn (£72bn), in a major boost to supporters of digital currencies such as bitcoin. Coinbase shares opened at $381 (£276) on the Nasdaq, racing past the $250 reference price, and valuing the exchange at $99.6bn (£72bn). The valuation means that coinbase is
Britain’s biggest aerospace employers, including Rolls-Royce Holdings and Airbus, have urged the business secretary to step into the crisis engulfing the steel tycoon Sanjeev Gupta amid fears of a global shortage of specialist materials. Sky News has learnt that the industry association ADS has written to Kwasi Kwarteng to highlight its members’ reliance on the
Giving a £170m taxpayer bailout to steel tycoon Sanjeev Gupta would have been “completely irresponsible”, the business secretary has told MPs. Kwasi Kwarteng was answering questions from members of the business, energy and industrial strategy committee about Liberty Steel, which is owned by GFG Alliance, the conglomerate headed by Mr Gupta. Sky News revealed in
Goods exports to the EU partially rebounded in February after a record slump at the start of the year, official figures show. The Office for National Statistics (ONS) said sales to the bloc rose by £3.7bn, or 46.6%, having fallen by £5.7bn, or 42%, in January. However imports from the EU, which also saw an
All across England shutters are rattling open, beer is foaming into pint glasses and tills are ringing. For the first time in months, many businesses that have been shut are able – subject to a variety of restrictions – to serve their customers again. From the snip-snip of hair salons to the splash of swimming
Businesses have wasted little time in welcoming back customers after lockdown measures eased across the UK at midnight. Prime Minister Boris Johnson urged the nation to “behave responsibly” as non-essential shops, hairdressers, salons, pubs, restaurants and gyms reopened in England. In Wales, people can now also visit non-essential shops and travel across the border to
Cyber security company Darktrace will on Monday fire the starting gun on a £3bn London flotation – crystallising a stake worth tens of millions of pounds for its 38-year-old chief executive. Sky News has learnt that Darktrace’s board plans to issue an expected “intention to float” announcement before the stock market opens on Monday morning.
England’s coronavirus restrictions will be eased further on Monday, with pubs and restaurants allowed to serve customers outdoors. Hairdressers will reopen, as will non-essential shops, indoor gyms, swimming pools, libraries, zoos and nail salons. The celebration will be slightly muted, however, by the period of national mourning in place following the death of the Duke
The UK’s most influential commercial property organisation is wading into a battle over the future of the Japanese-owned car park operator NCP. Sky News understands that the British Property Federation (BPF) has begun convening calls for NCP landlords next week as they face demands to write off substantial rent arrears. A group of landlords is
One of Britain’s wealthiest businessmen is assembling a £300m takeover bid for Homebase, the DIY chain which has been revived from the brink of collapse just three years ago. Sky News has learnt that Hugh Osmond, who is spearheading a legal challenge to the government’s coronavirus restrictions on the hospitality sector, is among a number
The owner of the vast Stanlow oil refinery in north-west England is in urgent talks about its future amid growing concern that it could be nearing collapse. Sky News has learnt that Essar Oil UK, which bought the site at Ellesmere Port from Shell in 2011, has been in discussions for weeks about efforts to
Jet2’s chief executive says the travel company will suspend flights and holidays until at least 23 June due to uncertainty over the government’s travel proposals. Steve Heapy said he had been “extremely disappointed at the lack of clarity and detail” in the plans, which were announced overnight. He added: Because of the continued uncertainty that
Most airlines have struggled during the coronavirus pandemic, but two newbies are bravely planning to enter the US market in the coming months. Avelo Airlines announced on Thursday that it will start flying later in April to 11 destinations from its hub in Burbank, California. It currently has three Boeing 737 jets but plans to