A Sunday parcel delivery service is to be trialled by the Royal Mail. Packages from major retailers will be delivered seven days a week as the company looks to satisfy the expectations of customers. The COVID-19 pandemic has seen unprecedented pressure placed on the mail system. A total of 496 million parcels were delivered by
Business
The John Lewis Partnership has revealed it does not expect to reopen all its department stores as coronavirus lockdowns are eased. The company, which also includes the Waitrose supermarket chain in its stable, announced last year that it would not pay a bonus to its staff – known as partners – for the first time
The UK’s data protection laws face being reformed to be more business-friendly as the government aims to spur economic growth following the downturn caused by the COVID-19 pandemic. The digital secretary Oliver Dowden said that Britain should take a “slightly less European approach” to privacy, referencing the EU’s General Data Protection Regulations (GDPR), “by focusing
Just Eat Takeaway has reported a deeper annual loss despite a surge in revenue, driven by high demand for food deliveries during the coronavirus pandemic. The company reported a bottom line loss of €151m (£129.5m) for 2020 compared to €115m (£98.5m) over the previous 12 months. It said the figure reflected its investments including growing
Tesla has led a bounce-back for US tech stocks as its shares surged by as much as 20% partly thanks to figures showing higher sales in China. The electric car company, led by Elon Musk, was also boosted by an analyst upgrade and a wider upturn in investor sentiment which saw the tech-heavy Nasdaq index
The “vaccine effect” is boosting Britain’s economic prospects faster than other European countries, according to the Organisation for Economic Co-operation and Development. EMBARGOED TO 1000 TUESDAY The OECD, a club of developed economies, said it expected the UK’s national output to expand by 5.1% in 2021, some 0.9 percentage points higher than it expected in
Some 5,000 jobs in the steel industry are in the balance after Greensill Capital, one of the UK’s largest speciality finance companies, went into administration today. Greensill, whose advisers include the former prime minister David Cameron, is a major provider of finance to Liberty Steel – the UK’s third largest steel company. Liberty, which is
The Bank of England governor has sounded a relatively optimistic note on the economy, predicting that the coronavirus shock would cause less long-term damage than most recessions. Andrew Bailey also told a Resolution Foundation event that he expected to cut the Bank’s unemployment forecast following last week’s budget and that the Bank’s forecasts suggested the
Starling Bank will on Monday unveil the biggest fundraising in its seven-year history when it announces that it has secured more than £270m from investors including one of the world’s biggest sovereign wealth funds. Sky News has learnt that the digital challenger bank will confirm that its latest share sale will exceed expectations, bringing in
Deliveroo customers will be offered up to £50m of shares in the company’s blockbuster floatation, with the offer branded “Great food with a side of shares”. The restaurant and grocery delivery app will list its shares in London on Monday with a potential value of £7.5bn, making it the biggest market debut in Britain for
Ralph & Russo, the British couture fashion brand which has secured the backing of some of Britain’s wealthiest investors, has deferred salary payments to employees, raising doubts about the state of its finances. Sky News understands that Ralph & Russo informed some staff last month that it could not pay them after seeing sales slump
The founder of Cazoo, the fledgling online car retailer, is weighing a merger with a ‘blank cheque’ company involving some of the best-known names in American finance and technology that could value it at as much as $8bn (£6bn). Sky News has learnt that Alex Chesterman, who set up Cazoo just two years ago, has
COVID test kits will be made available free of charge to small firms as well as larger companies, in a move aimed at giving employers and staff peace of mind. All businesses in England, including those with fewer than 50 employees, will be able to sign up to the government’s free COVID-19 workplace testing programme.
Deliveroo will distribute a £50m funding pot to restaurants, riders and community groups as it seeks to portray itself as a responsible corporate citizen following a blockbuster flotation that could value it at around £7.5bn. Sky News understands that the restaurant and grocery delivery app will launch the Communities Fund after an initial public offering
Boohoo is facing renewed pressure from MPs on workers’ rights – days after Sky News revealed the online fashion retailer was facing the possibility of a US import ban over the issue. The Environmental Audit Committee (EAC) has written to the group’s chairman Mahmud Kamani to request that a long-term bonus scheme announced last year,
The Scotch whisky industry has welcomed a deal between the UK and US governments that has seen damaging tariffs, imposed by the Trump administration in 2019, suspended for four months. The 25% tariff fell under a range of European products targeted as part of a historical row over government subsidies given to European aerospace firm