A closely-watched survey of business activity has shown its best reading on record as a vaccine-driven reopening of the economy gets into gear. The IHS Markit/CIPS flash composite Purchasing Managers’ Index (PMI) for May, which covers both manufacturing and services and is updated later in the month, credited a surge in growth and employment to
Business
Heathrow says it will be setting up a dedicated facility for passengers on direct flights from red list countries, following concerns that they were mixing with those from green and amber nations. This facility will be set up in Terminal 3 from 1 June and will then be moved to Terminal 4 as soon as
Retailers have enjoyed a surge in sales as stores dubbed non-essential were able to emerge from an enforced winter hibernation during April. Figures from the Office for National Statistics (ONS) showed volumes rose 9.2% last month from March after COVID-19 restrictions were lifted from 12 April in England and Wales and two weeks later in
Workers at Heathrow have raised fears about overcrowding at the airport days after a traffic light system to restart foreign holidays was launched, according to a trade union. The GMB said it had received reports of travellers from “red list” countries mixing those from green and amber countries – which are deemed less risky. It
The rail network will be rebranded Great British Railways as part of a restructuring intended to simplify the organisational chaos of the franchise system and rebuild passenger numbers following COVID-19. A quarter of a century after British Rail was broken up and the network privatised, the new public body will subsume Network Rail’s responsibility for
It’s “as violent as a mugger, as frightening as an armed robber, and as deadly as a hitman.” So said Ronald Reagan about inflation. This was back in the 1980s when the US and indeed the UK economy had been beset for years by rising prices and weak economic growth: stagflation, as it was called.
The rate of inflation more than doubled in just one month to 1.5% during April, posing a price rise challenge to the Bank of England amid the fragile economic recovery from the coronavirus crisis. The Office for National Statistics (ONS) said the consumer prices index measure rose from 0.7% in March. The increase was driven,
Britain’s biggest carmaker Jaguar Land Rover has reported an annual loss for the third year in a row and warned of an increasingly tough battle to overcome supply chain problems. The company, owned by India’s Tata Motors, reported a pre-tax loss of £861m for the year to the end of March, after posting a shortfall
Unemployment dropped slightly to 4.8% in the first quarter of the year as the jobs market showed “early signs of recovery”, official figures show. The jobless rate for the January-March period was down from 4.9% a month earlier, according to the Office for National Statistics. Separate figures from HM Revenue and Customs showed 97,000 people
Thousands of British holidaymakers have started to fly out the country – with some heading to amber list destinations – as the ban on overseas leisure travel is lifted in England, Wales and most of Scotland. Travel firms have reported a surge in demand for trips to Portugal, after the government put it on its
People across England are again able to enjoy hugs with loved ones, indoor pints and foreign holidays – but Boris Johnson has urged a “heavy dose of caution” due to the threat of the Indian variant of COVID-19. As the country moves to stage three of the prime minister‘s roadmap for lifting lockdown restrictions on
Santander’s telephone, branch, online and card services are all experiencing major issues, customers are reporting – and the bank has admitted it has no idea when they will be fixed. Santander‘s mobile app and ATMs are also having problems and the bank has said that it is working to resolve the technical difficulties responsible. Responding
Debenhams stores across the UK will shut their doors for the final time later, bringing more than 240 years of retail history to an end. The department store chain, a staple of high streets since 1778, will close its remaining 28 stores for good on Saturday after the company collapsed amid the fallout of the
The chairman of easyJet is preparing to step down as Britain’s airline industry holds its breath for a summer season recovery that could salvage its short-term future. Sky News has learnt that the low-cost carrier has appointed headhunters to identify a successor to John Barton, who has held the role since 2013. City sources said
The Serious Fraud Office has said it is investigating steel tycoon Sanjeev Gupta’s business empire – including links with Greensill Capital. The SFO said in a statement said it was looking into “suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family
Portugal has confirmed that tourists from the UK will be able to travel to the country from Monday. The country’s minister of foreign affairs said anyone arriving from 17 May must have had a negative PCR result within the previous 72 hours. Existing travel restrictions on travel into the country from Britain will end on