Business

Norwegian, the struggling European airline that offered cut price transatlantic flights, says a cull of routes will result in the loss of 1,100 jobs at Gatwick Airport. The company, which has been battling high costs associated with a rapid expansion exacerbated by the impact of massive COVID-19 disruption to international travel, said it was to

Deliveroo has hired a quartet of investment banks to help it serve up what could be London’s biggest stock market flotation of 2021. Sky News has learnt that the restaurant and grocery delivery app has appointed Bank of America Merrill Lynch, Citi, Jefferies and Numis to work on listing that market sources expect to value

UK supermarket chains have demanded government intervention to prevent “unworkable” new Brexit regulations causing disruption to food supplies to Northern Ireland. The chief executives of Tesco, Sainsbury’s, Asda, Iceland, Co-op and Marks & Spencer have written to Cabinet office minister Michael Gove warning that enforcement of new procedures when a grace period expires on 31

John Lewis has suspended click-and-collect services at its department stores in the latest tightening of rules for shoppers as the coronavirus crisis intensifies. The department store chain said it was responding to a “clear change in tone and emphasis” from governments across the UK urging the public to stay at home. It came as all

The governor of the Bank of England believes the UK’s jobless rate has climbed to around 6.5% – higher than official figures suggest – as the coronavirus pandemic continues to wreak havoc on the economy. In a speech to business leaders at a virtual event in Scotland, Andrew Bailey was also guarded on whether negative

Deliveroo plans to expand to cover 100 more towns and cities across the UK this year. The takeaway delivery business said it aims to reach almost two-thirds of the population following increasing demand last year. The surge in popularity is due to restaurants being ordered to shut their doors under restrictions designed to limit the

The chancellor has warned that there are tough times ahead for the UK economy as it struggles through a third national lockdown. In an update to MPs on Monday, Rishi Sunak said: “We should expect the economy to get worse before it gets better.” Mr Sunak said restrictions placed on people and businesses were necessary

A former Ocado executive who has been involved in the NHS Test and Trace programme will this week be appointed as the next boss of Royal Mail. Sky News has learnt that Simon Thompson, who has worked for companies including Apple, Honda, Lastminute.com and Wm Morrison, is to be named as the former state monopoly’s

The American investors which control the Co-operative Bank are lining up their first board nominees weeks after talks about a sale of the self-styled ethical lender were abandoned. Sky News has learnt that the syndicate of hedge funds, which includes GoldenTree Asset Management, are finalising the appointment of two heavyweight City figures as non-executive directors

Martin Gilbert, the veteran fund management boss, is joining forces with a group of City grandees and former Aberdeen Asset Management colleagues to spearhead a fresh wave of deal-making activity across the sector. Sky News has learnt that Mr Gilbert, who stepped down from the helm of Standard Life Aberdeen last year, will next week

Saracens, the Championship rugby club plunged into crisis last year after breaching salary cap rules, has secured new backers even as the coronavirus crisis hammers elite sport’s commercial income. Sky News has learnt that Saracens will this weekend unveil a multimillion pound long-term naming rights and kit sponsorship with StoneX, a global financial services group

It is fair to say most of America’s business leaders never took to Donald Trump. Now, in the dying days of what has arguably been the most divisive presidency in US history, the gloves are off. US business leaders are taking to the airwaves and queuing up to condemn the outgoing president for egging on

A “high volume” of lorries are being delayed and refused entry at ports including Dover due to “incorrect paperwork” following Brexit, a shipping company has said. One week into the new arrangements, disruption has begun to be felt from Britain leaving the EU’s customs union and single market and operating on new trade terms with

Plane manufacturer Boeing will pay out more than $2.5bn to resolve a US investigation into the deadly 737 MAX disasters, the country’s Justice Department has said. In a statement, America’s government said the settlement includes a criminal penalty of $243.6m and compensation to the firm’s customers of $1.77bn. Boeing will also set up a fund

Ryanair has hit out at the UK and Irish governments for their handling of coronavirus vaccine roll-outs while slashing flights and its passenger forecasts. The no-frills carrier said it was to “significantly cut” services from Thursday 21st January which would result in “few, if any, flights being operated to/from Ireland or the UK from the

The FTSE 100 has hit its highest level in ten months, building on a recovery that has lagged its peers during the coronavirus crisis to date. The blue-chip index added 229 points, or 3.5%, on Wednesday to close at 6,841. When points are converted to pounds, it meant almost £61bn was added to its collective