An electric vehicle (EV) manufacturer backed by Amazon and Ford is in talks with ministers about building a giant factory in the UK that could include a big state support package. Sky News has learnt that Rivian, which is also backed by the Ford Motor Company and many of the biggest investors in Silicon Valley,
Business
Up to a quarter of supermarket milk deliveries by the UK’s biggest dairy supplier have been unable to get through because of a shortage of lorry drivers. Speaking to Sky News, managing director of Arla Foods UK Ash Amirahmadi warned of a “summer of disruption” unless bold action is taken by the government to tackle
NatWest has restored shareholder dividends after swinging back into profit, significantly beating expectations. The state-backed bank posted a pre-tax profit of £2.5bn for the six months to June, compared with a loss of £770m the year before. It makes NatWest the latest bank to smash forecasts, following on from both Barclays and Lloyds earlier this
The US economy has recovered to surpass its pre-pandemic peak according to official figures – though growth was slower than expected in the latest quarter. Robust consumer spending fuelled by vaccinations and government stimulus helped gross domestic product (GDP) grow at an annualised rate of 6.5% in the April-June period, according to the bureau of
The competition watchdog has imposed fines totalling £100m in the latest case of so-called price gouging that saw patients lose access to a free drug on the NHS. The Competition and Markets Authority (CMA) found that pharmaceutical company Advanz charged “excessive and unfair prices” for supplying liothyronine tablets, which are used to treat thyroid hormone
Travel bosses have hailed the loosening of COVID rules for US and EU travellers as a move that would “get global Britain back in business”. Shares in British Airways owner International Airlines Group rose more than 3% while there were also rises for easyJet, Ryanair, Tui and engine maker Rolls-Royce. Cruise operators Carnival and Saga
Airlines are putting pressure on the government to exempt fully-vaccinated Americans and EU visitors from quarantine on their arrival to the UK. Amid widespread reports ministers could announce such a move as early as Wednesday, British Airways and Virgin Atlantic – as well as Heathrow Airport – have claimed a recent trial demonstrates how international
Morrisons’ largest shareholder has said it is “not inclined” to back a £6.3bn takeover deal agreed by the supermarket’s board. Investment firm Silchester, which holds a 15.1% stake in the group, said the board should allow more time for offers to emerge that might better the bid from the consortium led by Fortress Investment Group.
Moonpig, the online greeting card and gift retailer, has reported a doubling of annual revenue and profits as lockdown restrictions on shoppers boosted demand. While high street rivals were forced into hibernation as part of efforts to curb the spread of COVID-19, the company benefited from almost 51 million transactions as customers flocked to mark
Kwasi Kwarteng, the business secretary, has ordered officials to launch a national security probe into the £2.6bn takeover of Ultra Electronics, a key supplier of military technology, by Cobham, the former London-listed defence group. Sky News has learnt that Mr Kwarteng has told civil servants at the Department for Business, Energy and Industrial Strategy (BEIS)
In a world of cookie-cutter MBAs, Lorna Gabriel – spiritual thought leader and CEO of disruptor multiplier Luxe Godhead – is an inspiration to anyone who has tried and failed to fit in with conventional industry wisdom. Her radical knowledge and approach to life and business have been hard-earned. The child of Christian fundamentalists brought
Best-selling author, publisher, and mentor Adriana Monique Alvarez is rewriting the future of publishing with a female-led revolution that is challenging time-honored traditions. Once exclusively dominated by men, publishing is today being turned on its head by Alvarez and her company AMA Publishing, which is mentoring women step-by-step in the business of setting up their
Senior ministers are set to discuss extending the rollout of daily COVD testing sites to ease the concerns of industry and frontline services by allowing further exemptions from isolation for critical workers. The COVID operations sub-committee of Cabinet will meet later to discuss if the number of jobs eligible for the testing regime should be
Zopa, one of Britain’s biggest digital financial services providers, is in talks with investors about a £100m capital injection that will put it on course to become the country’s latest fintech ‘unicorn’. Sky News has learnt that Zopa has hired JP Morgan, the Wall Street investment bank, to advise on what is expected to be
Taxpayers will spend decades exposed to financial risks from the government’s coronavirus spending, according to a committee of MPs. Parliament’s public accounts committee (PAC) has produced two reports related to the crisis, the first of which warns that Britain will be exposed to “significant financial risks for decades to come”. The cost of government measures
The newly listed owner of Burger King’s UK operations has begun drawing up plans for a sale of the business next year in a bet on an accelerated recovery of Britain’s pandemic-hit restaurant industry. Sky News has learnt that Bridgepoint Group is holding preliminary talks with investment banks about an auction of one of the