Some of the world’s largest car manufacturers and vehicle producing nations will not sign a global deal to cut new car emissions by 2040, dealing a blow to one of Boris Johnson’s key ambitions for the COP26 summit. Volkswagen and Toyota, the world’s two largest manufacturers are among those that have declined to agree to
Business
Shoppers are buying Christmas gifts earlier than usual because of worries about supply chain problems, new figures suggest. A poll by Barclaycard showed that around a third said they were changing their approach to festive shopping this year due to fears over shortages, with more than half of these bringing forward purchases. The figures were
JD Sports has said it is not “suspicious or illegitimate” for its executive chairman Peter Cowgill to meet his opposite number at rival Footasylum – as it responds to the publication of footage in a newspaper. The Sunday Times said the footage showed Mr Cowgill meeting Barry Bown in a car park near Bury in
Vaccinated passengers are finally able to enter the United States from the UK, bringing an end to almost two years of coronavirus restrictions. Thousands of travellers will jet off on transatlantic flights for long awaited reunions with family and friends, while British Airways and Virgin Atlantic will operate a synchronised departure from Heathrow to celebrate
An investment vehicle which began building a stake in the London-listed gambling software group Playtech earlier this year is weighing plans for a £3bn takeover of the company. Sky News has learnt that Gopher Investments is working with bankers at Rothschild on an offer that would trump a recommended bid announced last month from Aristocrat
Abrdn, the FTSE-100 asset manager, is in advanced talks to buy Interactive Investor (II) for more than £1.5bn – a deal that will hand it control of one of Britain’s three big DIY stock-picking platforms. Sky News can reveal that abrdn, headed by Stephen Bird, is in exclusive negotiations to acquire II and hopes to
The UK’s five biggest supermarkets will try to halve the environmental impact of a weekly food shop by the end of the decade. It is the latest climate promise made during the COP26 summit in Glasgow, and it comes as the UK announces it will lead 45 governments in moving towards more sustainable ways of
Brexit is done, and for many, there’s genuine relief it’s over. But ongoing disagreements and post-treaty disputes are having real world costs to businesses who say they feel let down and misled by the Brexit process. The row over fishing rights and the threat of retaliatory action from the French have already cost one oyster
The owner of British Airways has placed its hopes for a return to profitability on strong demand for transatlantic travel after posting a loss for its key summer season. International Airlines Group (IAG) said the gradual lifting of COVID-19 travel restrictions in key markets – culminating in the full reopening of the US travel corridor
Liberty Steel boss Sanjeev Gupta has been criticised in a report by MPs looking into the crisis that engulfed the company, as well as the future of the wider steel sector. It claimed that the use by Mr Gupta – once known as the “saviour of steel” – of “high risk financial funding practices” was
The Bank of England has surprised investors and economists by leaving interest rates on hold at 0.1% for at least another month. However, the Bank used its quarterly Monetary Policy Report to signal that it was likely to increase borrowing costs in the “coming months”. The decision pushed the pound lower by more than a
The Bank of England will decide today on whether to raise interest rates for the first time in three years. Speculation has been growing that Bank rate will increase from 0.1% to 0.25% in response to rising inflation. The rate was cut to a record low of 0.1% in March last year as lockdowns put
Former Bank of England governor Mark Carney has declared a “watershed” moment in financing the world’s move to net zero following news that $130 trillion of private capital was waiting to be deployed. “Right here right now is where private finance draws the line,” Mark Carney said on “finance day” at the COP26 summit in
Three of Britain’s biggest high street lenders will this week join an alliance aimed at phasing out the world’s dependence on coal power amid a blizzard of efforts by multinationals to demonstrate their green credentials at the COP26 summit. Sky News has learnt that HSBC, Lloyds Banking Group and NatWest Group will be among 10
It may strike some as deeply ironic that, while heads of state, scientists, charities and environmental activists rub shoulders at the COP26 summit, some of the biggest players involved in the transition to net zero are not in Glasgow. While the likes of Turin Polytechnic, Bristol City Council, the Omega Institute for Holistic Studies and
The Rothermere family is on the verge of a £400m pensions agreement that will pave the way for it to delist the publisher of the Daily Mail and i newspapers after nearly a century as a public company. Sky News has learnt that Rothermere Continuation Limited (RCL) is close to agreeing a deal with trustees
Barclays has revealed that its chief executive Jes Staley has stepped down following an investigation by regulators into his dealings with the disgraced financier Jeffrey Epstein. The bank said on Monday that Mr Staley – its chief executive since 2015 – had gone after being given sight of the preliminary conclusions of a probe launched
A husband and wife team who set up an upmarket outdoor pizza-oven company nearly a decade ago are planning to sell a stake in the business in a deal that could propel them into the ranks of Britain’s wealthiest people. Sky News has learnt that Ooni, is based in Scotland, is in talks to hire
G20 world leaders have endorsed a global minimum tax on corporations as part of an agreement on new international tax rules. The move by the leaders of the world’s biggest economies is a step toward building more fairness amid the surging revenues of some multinational businesses. US treasury secretary Janet L Yellen hailed it as
The Racing Post is galloping towards a £500m sale as its owner looks to cash in on a surge in demand for sports betting data. Sky News has learnt that Exponent Private Equity, which acquired the horseracing bible in 2016, is in talks with investment banks about launching an auction of Spotlight Sports Group, potentially