Jaguar Land Rover has committed to keep all three of its British plants open in the drive for all its models to be fully electric by the end of the decade. The major shift forms a key plank of the carmaker’s plan to become a net zero carbon business by 2039. The firm, owned by
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Air passenger numbers plummeted by 98% at the height the pandemic last year, official figures show. Monthly arrivals to the UK fell during the first coronavirus lockdown from 6.8 million in February to 112,300 in April 2020, data published by the Office for National Statistics (ONS) reveals. The figures have been released as part of
Rolls-Royce Holdings, the FTSE-100 engineering group, will this week name a former Deloitte partner as its next finance chief as it tries to navigate through the headwinds of the COVID-19 crisis. Sky News has learnt that Panos Kakoullis, who spent 30 years at the accountancy giant, has been picked as the Derby-based industrial titan’s next
The £4bn flotation of Darktrace, one of Britain’s most prominent technology companies, has been dealt a severe blow by the resignation of one of the investment banks hired to lead it. Sky News has learnt that UBS, the Swiss bank, has informed Darktrace that it is no longer able to work on the cybersecurity provider’s
The shake-up of Britain’s big four audit firms is to continue in earnest when Deloitte unveils the sale of its restructuring arm to Teneo, a strategic consulting firm which advises many of the UK’s biggest companies. Sky News has learnt that Teneo, which is backed by the private equity firm CVC Capital Partners, is in
The chairman of a City accountancy firm has resigned following a backlash over remarks made to staff which dismissed concerns about COVID crisis fatigue. Bill Michael, the chairman of KPMG UK, reportedly told the online gathering involving hundreds of workers on Monday that they should stop “moaning” and “playing the victim card”. It was an
The worst GDP since the invention of GDP. By now we’re mostly all familiar with the scale of the economic contraction this country has faced over the past year. We have lived the lockdowns, the furloughs, the closures. Even so, the scale of the fall in economic output still takes the breath away. Image: Bank
The coronavirus crisis meant the UK economy endured its deepest annual slump last year since the Great Frost in 1709, according to official figures. The Office for National Statistics (ONS) said early estimates, subject to revision, showed that gross domestic product (GDP) tumbled by 9.9% in 2020. It was a consequence of large parts of
Food exports to the European Union fell by as much as 60% at the start of the year as traders and officials struggled to adapt to post-Brexit arrangements, MPs have been told. Ian Wright, chief executive of the Food and Drink Federation (FDF), said changes since Britain’s trade deal with Europe came into force on
Royal Dutch Shell has revealed a new set of targets to achieve net zero emissions by 2050, with carbon intensity reductions to include third party oil and gas the company sells as products. The energy company, which has received criticism from institutional investors over the power behind its earlier climate ambitions, said a “comprehensive carbon
Joe Biden can end the man-made contribution to global warming completely, says Howard Bloom, founder and chair of the Space Development Steering Committee. President Biden can end that man-made contribution by harvesting solar power in space and transmitting it to earth, a process called space solar power. President Biden has committed to reviving the American
Bank of England Governor Andrew Bailey has urged the EU not to pick a fight over post-Brexit access for financial services and accused it of demanding tougher standards of the UK than other countries. Brussels has been slow to grant “equivalence” status allowing UK firms access to the bloc in the way that has already
Persimmon, the UK housebuilder that has been battling to restore trust with customers over historic build quality issues, has announced a £75m provision to help fund the removal of potentially unsafe cladding on its buildings. The company revealed work may be necessary on 26 sites it built historically, including nine high-rise buildings over 18 metres,
Introducing the newest app for buying and selling art, whether it's your paintings, sculptures, or music: Alosha.
Britain’s beleaguered aviation industry has issued a fresh plea for state help as the government set out plans to quarantine travellers from 33 countries in hotels and tightened COVID testing rules for all arrivals. Travel shares fell after the announcement from Health Secretary Matt Hancock dampened hopes for a return to normality in time for
Inequality problems have been made worse for many women during the pandemic with government economic support policies “skewed towards men”, MPs have found. The report by the Commons women and inequalities committee said that while ministers acted quickly to protect jobs and adapt welfare benefits, gender disparities were ignored. Pregnant women and new mothers in