Sales of consumer cannabis products have undergone an “accidental” boom during the pandemic that will see the popularity of cannabinoids exceed the market for Vitamins B and C combined, according to industry groups. The industry estimates the market for products containing cannabis extracts will reach £690m this year, more than double the £314m of sales
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Exercise equipment maker Peloton is recalling its Tread and Tread+ treadmill machines in the US after a number of injuries and the death of a child. It comes after regulators warned people in April to stop using the Tread+ if they have children or pets. Peloton chief executive John Foley has now apologised over the
Travel industry leaders say they need “clarity” over restrictions from the government if they are to meet the huge pent up demand for holidays this summer. The government is expected to unveil its traffic light system for international travel this week, ahead of the expected lifting of the current ban on 17 May, but it’s
There is growing evidence the economy is finding a new gear following more than a year of coronavirus disruption, with two readings of activity showing record rates of growth for this century. First, data from the Bank of England showed the biggest net increase in mortgage lending on record during March – driven by tax
The prime minister has announced new trade with India that could create more than 6,500 jobs. Boris Johnson said the deal was worth £1bn and paves the way for a free trade agreement between the two countries. Mr Johnson and India’s prime minister Narendra Modi are to meet on Tuesday, although the talks will be
A former member of Ed Miliband’s shadow cabinet is joining the board of Cazoo, the second-hand car retailer which is preparing to drive onto the US stock market in a $7bn deal. Sky News has learnt that Luciana Berger, who spent nearly a decade representing Labour and then the Liberal Democrats as MP for Liverpool
The number of people looking to buy property in Cornwall has risen by more than 140% – the highest growth rate of any county in Britain. Analysis for Sky News by the property website Rightmove has found more than 15 million people searched for properties in Cornwall in the first quarter of this year, compared
Barclays was given a thumbs down from the City despite a bumper rise in quarterly profits to £2.4bn and growing optimism about the UK’s recovery from the COVID-19 downturn. The lender delivered earnings of £2.4bn in the January-March period, up from £923m a year ago when the economic picture was darkened by the prospect of
Today’s quarterly results from AstraZeneca are a very timely reminder that, for all the debate about the drug-maker’s involvement in the Oxford COVID vaccine, it is of very little importance to the financial fortunes of what is currently the fifth-largest company in the FTSE 100. In fact, AZ is actually losing money on its involvement
David Ross, the billionaire co-founder of The Carphone Warehouse and prominent Conservative Party donor, is to step down as chairman of the Royal Opera House (ROH) just months into a four-year tenure. Sky News has learnt that trustees of the globally renowned institution in London’s Covent Garden have begun preparing to find another long-term chairman
House prices rose at their biggest monthly rate since 2004 in April after Rishi Sunak extended a holiday on stamp duty, according to new figures from lender Nationwide. Prices climbed by 2.1% compared to March while they were up by 7.1% compared to the same period last year, the report said. The chancellor introduced a
The boss of Virgin Atlantic said there was “no reason to delay” the return of US-UK travel next month – as the carrier reported an £858m annual loss. Virgin, which has cut thousands of jobs with flights grounded during the pandemic – and last autumn completed a rescue deal with investors – said passenger numbers
Amazon’s profit in the first three months of 2021 came in at $8.1bn (£5.8bn) – more than triple what it was in the same period last year. The online marketplace is among the businesses that have thrived during the various government lockdowns aimed at limiting the spread of the coronavirus. As many millions of people
State-backed lender Natwest has reported a sharp rise in profits as it followed rivals in clawing back some of the money set aside to cover loans going bad. The bank, which remains 60% owned by the taxpayer, said pre-tax operating profits rose 82% to £946m for the first quarter partly thanks to a £102m release
Facebook’s financial results have exceeded expectations but the company’s growth could decline significantly under Apple’s new privacy policies. The social network said its monthly active user count rose 10% to 2.85 billion and net income for the first quarter was $9.5bn (£6.8bn) – compared with $4.9bn (£3.5bn) a year earlier. Total revenue, which is primarily
Nestlé is to make almost 600 people redundant as it closes a factory in the UK and moves some of its production to Europe. The Swiss multinational said products currently made at Fawdon near Newcastle would move to other plants in Britain and on the continent. Fawdon, which opened in 1958 and makes products including