Gap is to close all of its stores in the UK and Ireland, the American fashion retailer has announced. The decision comes after a review of its operations across Europe and will see the company go online-only in the markets affected. The stores will shut in a phased manner from the end of August through
Business
The UK economy suffered a slightly worse start to the year than first thought as households squirrelled away cash during latest lockdowns, revised figures show. Gross domestic product (GDP) shrank by 1.6% – compared to an initial estimate of 1.5% – as renewed stay-at-home measures held back business activity and spending, according to the Office
Senior overseas business executives will no longer need to quarantine when arriving in England if their trip is likely to be of “significant economic benefit to the UK”. The Department for Business, Energy and Industrial Strategy (BEIS) said that, subject to business leaders meeting strict criteria, they could “temporarily” leave mandatory COVID-19 isolation for work
Government must back its commitment to electric vehicles with financial support for new battery gigafactories and manufacturers considering where to build the next generation of cars and vans, Vauxhall’s parent company has told Sky News. Stellantis, which owns the Peugeot and Fiat brands as well as Vauxhall, is currently in talks with ministers over whether
Industries from haulage to hospitality are facing a “perfect storm” of issues creating staff shortages as the economy reopens, the president of the CBI is warning. Lord Bilimoria said the departure of overseas workers during the pandemic, who have not since returned, was among the factors causing headaches for employers. He also said there was
Japanese car giant Nissan could announce plans for a battery gigafactory in the UK as soon as this week, Sky News understands. City editor Mark Kleinman said the carmaker’s electric vehicle strategy, tipped to include production of its Qashqai and Juke models at Sunderland, was also expected to confirm the construction of a battery gigafactory.
A frenzy of capital-raisings by UK-based financial technology companies will continue this week when a prominent London-listed fund manager takes a £75m stake in Smart, the retirement savings platform. Sky News has learnt that Chrysalis Investments, which has backed companies including buy-now-pay-later lender Klarna, Starling Bank, the digital lender, and the cross-border payments app Wise,
Portugal, Gibraltar and Israel are among the countries and territories people will be able to visit without quarantining on their return to the UK, the government has said. As England goes into the next phase of the roadmap out of lockdown on 17 May, a traffic light system that categorises countries based on their COVID-19
A portrait of Prince Philip will feature on a new special edition £5 coin to commemorate the royal’s life. The Duke of Edinburgh had approved the design before his death, the Treasury said, and the coin is now being launched to mark Armed Forces Day on Saturday. It bears the inscription: “HRH The Prince Philip,
LadBible Group, the youth-focused digital publisher, is exploring a stock market listing or partial sale that would catapult its co-founder into the ranks of Britain’s super-rich. Sky News has learnt that LadBible, which was founded by Solly Solomou and Arian Kalantari in 2012, is working with Zeus Capital, the investment bank, on a review of
A relative of the Whitehall director alleged to have had an extramarital affair with Matt Hancock, the health secretary, is an executive at a private healthcare company which has won a string of NHS contracts. Sky News can reveal that Roberto Coladangelo – who is understood to be Gina Coladangelo’s brother – works at Partnering
Travel firms say the limited expansion of the green list for holiday destinations has sparked a wave of new bookings, despite renewed industry criticism of the government’s handling of coronavirus restrictions. Michael O’Leary, chief executive of Ryanair, accused Transport Secretary Grant Shapps of “sowing confusion” as he told Sky News there was no science-led approach
Changes to the travel green list and plans to open up more holiday hot spots to the double-jabbed are not enough to save the summer for the travel sector, ministers have been told. Business leaders lined up to accuse the government of an overly cautious approach as destinations including Spain’s Balearic Islands, Malta, Madeira and
The government is due to deliver its latest travel advice on Thursday after Matt Hancock gave fresh hope to the prospect of summer holidays this year. Ministers will reveal which, if any, countries are to move to the quarantine-free green list and those which travelling to continues to be banned or restricted. It comes as
Inflation pressures facing UK firms hit record levels this month – amid signs that the pace of the economy’s rebound from the coronavirus crisis may have peaked. Growth in business activity in June slipped back slightly from record levels seen the month before according to the latest “flash” UK purchasing managers’ index (PMI). The survey’s
Leaseholders “trapped” in homes they struggle to sell are among thousands set to benefit after Aviva and Persimmon agreed to changes following an investigation by the competition regulator. Hundreds living in homes whose freeholds are owned by Aviva will be affected after it said it would remove contract terms which allow ground rents to double