Global stock markets have plunged on a cocktail of concerns about the global economy and anxiety over how central banks are responding to inflation. London’s FTSE 100 Index fell by about 150 points, or more than 2%, as the sell-off wiped away any overnight cheer brought about by England’s Euros victory against Denmark. That saw
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Top executives at financial firms could see their pay linked to progress on diversity under measures being discussed by UK regulators. In a joint paper, the Bank of England, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) said they wanted to prompt banks, insurers and other firms they regulate to act more quickly to
The government is putting the finishing touches to a deal that will see one of Britain’s oldest steelmakers taken into public ownership. Sky News has learnt that the Ministry of Defence (MoD) is finalising the nationalisation of Sheffield Forgemasters, which plays a critical role in the supply chain of the UK’s nuclear submarine fleet. The
The commitment from Vauxhall’s owner Stellantis to build electric vehicles at its Ellesmere Port plant is a second jolt of good news in five days for a British car industry adjusting fast to the electric revolution. After Nissan revealed its plans for a new electric vehicle and a battery “gigafactory” at its Sunderland base last
Vauxhall’s parent firm has revealed a new electric vehicle future for its Ellesmere Port plant, removing a years-long threat of closure from the factory. Stellantis confirmed on Tuesday that a government grant, coupled with a £100m investment of its own, would at least safeguard the 1,000 jobs left at the site. Ellesmere Port in Cheshire,
Prime Minister Boris Johnson has confirmed that people in England will no longer be instructed to work from home from later this month. The move is part of Mr Johnson’s plan to scrap the remaining coronavirus restrictions on 19 July. He said: “The government is no longer telling people it is necessary that they should
Shares in Morrisons surged by more than 11% at Monday’s market open as investors licked their lips at the prospect of a bidding war for the UK’s fourth largest supermarket chain. There is speculation of interest from Amazon and private equity firms after it was announced on Saturday that the FTSE 100 firm had agreed
The financier spearheading a £300m takeover of Newcastle United has accused the Premier League of a “closely guarded lack of transparency” and of lacking accountability ahead of legal proceedings that will determine the future ownership of one of England’s biggest clubs. Sky News has seen a letter from Amanda Staveley to Tracey Crouch, who is
Bosses at the UK’s biggest retailers want the prime minister to help stop the “shocking violence and abuse” of shop workers. Executives at Tesco, Sainsbury’s and Primark are reportedly among those to have written to Boris Johnson asking for an amendment to policing laws. Violence against shop workers has bee increasing in recent years, retailers
Supermarket giant Morrisons has agreed a takeover offer from a consortium in a deal worth £6.3bn. The move follows the rejection of an earlier £5.5bn bid from one of the world’s biggest buyout firms, Clayton Dubilier & Rice (CD&R), which the grocery chain said “significantly undervalued” the business. Under the terms of the agreed deal
Petrol is at its highest price for nearly eight years after eight consecutive months of increases at the pumps, figures from the RAC show. The motoring organisation predicted escalating fuel bills, driven by the rising cost of oil, could speed up the switchover to electric cars. According to RAC data, a litre of unleaded rose
The future of Vauxhall’s Ellesmere Port car plant is set to be secured through production of a new electric vehicle, with an announcement possible as soon as next week. Ministers have been in talks with Vauxhall owner Stellantis for months over providing government support for the plant, and Sky News understands the manufacturer has signed
Confectionery giant Haribo has warned a shortage of lorry drivers is causing difficulties getting its sweets to shops in the UK. The German firm, whose products include gummy bears, foamy fried eggs and cola bottles, said it was working to tackle the problem. It comes after the haulage industry warned of a widespread UK delivery
The announcement of a battery “gigafactory” in Sunderland is a significant moment on the road to electrifying the UK car fleet, a journey that until now had barely left the kerb. The new factory, built by Chinese manufacturer Envision, will be the largest of its kind in the UK with capacity to produce 9GWh of
Nissan is to announce details of a new battery ‘gigafactory’ that will enable its Sunderland car plant to massively increase production of electric vehicles. The Japanese manufacturer is expected to claim the battery plant, built in partnership with Chinese manufacturer Envision, will create 2,000 jobs. The government is thought to have provided some financial support
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