Business

The glazed doughnut maker Krispy Kreme could be worth up to $4bn when it lists on the Nasdaq stock exchange later this year, according to a regulatory filing. The company, which operates more than 1,000 stores around the world, is aiming to raise up to $640m via the initial public offering (IPO). It will trade

UK borrowing fell to £24.3bn last month as the government spent less money on furlough and saw a boost from VAT and fuel tax, official figures show. Borrowing – the difference between how much the government spends and how much it receives from taxes and other income – was still at its second highest level

An arm of Sanjeev Gupta’s industrial empire which counts Jaguar Land Rover as its main customer faces collapse within days amid last-ditch negotiations with its lender. Sky News has learnt that Liberty Aluminium Technologies (LAT) is in detailed talks with Close Brothers in an attempt to avert the division being placed into administration. City sources

Flexible rail tickets will be available in England from today, offering savings on certain routes for those who travel two or three days a week. The tickets are part of reforms announced last month and they can be used from 28 June, allowing travel on any eight days in a 28-day period. The Department for

Foreign holidays as normal this summer “was never going to be the case”, Justice Secretary Robert Buckland has said as he defended the government’s COVID travel policy. Mr Buckland said “significant trade-offs” have had to be made to ensure COVID cases are kept down, with international travel restricted to “prevent inadvertent spread of new variants

Pilots are calling for urgent action after claiming the government’s “ludicrously cautious” travel restrictions caused the UK’s aviation industry to be “the hardest hit in Europe”. The British Airline Pilots’ Association (BALPA) has accused ministers of appearing to “deliberately attack” the sector with the measures they have imposed during the pandemic. The union is calling

One of the world’s biggest buyout firms is weighing a spectacular £5.5bn takeover bid for Wm Morrison, Britain’s fourth-largest supermarket chain by market share. Sky News has learnt that Clayton Dubilier & Rice (CD&R) is in the early stages of evaluating an offer for the grocer, a move that would send fresh shockwaves through the

A sharp fall in demand for groceries, as pubs and restaurants reopened to indoor customers, has driven a decline in retail sales volumes. The Office for National Statistics charted a surprise 1.4% fall in retail sales between April and May. Economists had predicted growth of 1.6% on the back of a 9% surge the previous

AstraZeneca and the EU have both claimed victory in a court ruling over the supply of COVID-19 vaccines. The two sides have had a rocky relationship over the past few months, with the European Union accusing the vaccine maker of not producing supplies fast enough. AstraZeneca was contracted to do its best to deliver 300

The UK’s economy will bounce back to pre-COVID levels by the end of 2021 despite the end of lockdown being delayed, the CBI has forecast – a year earlier than expected. However, the business group has warned of devastation for some still-closed sectors if they are not given more support. The CBI has upgraded its

A deal to resolve a trade dispute over aircraft subsidies for at least five years has been cheered by Scotch whisky producers who were slapped with tariffs under the row. Tariffs were imposed on single malt by the Trump administration in 2019 despite the industry not being part of the historic spat over state support

The government is considering relaxing restrictions surrounding international travel for Britons who have had both coronavirus vaccines. A government spokesperson has told Sky News that it is “working with industry for a safe return to international travel, guided by one overwhelming priority – public health”. They added: “Recognising the strong strategic rationale and success of

The government is to extend the ban on commercial evictions introduced during the pandemic until 2022, Sky News understands. On Wednesday, ministers are expected to announce that the moratorium for business tenants will not expire at the end of this month as planned and will instead continue for at least the rest of the year,

Britain’s product safety regulator has been slow to respond to dangers such as those posed by mini magnets because it lacks the data and intelligence needed to assess risks, a report has found. The Office for Product Safety and Standards (OPSS) received a report about the magnets, which can cause serious injury if swallowed, in

The number of people in payrolled employment remains 553,000 down on its pre-pandemic level despite a widespread easing in coronavirus restrictions, according to official figures. But the early data from the taxman, published by the Office for National Statistics (ONS), showed 197,000 more people were on Pay As You Earn (PAYE) in May compared with