A health minister has defended the government’s decision not to offer the hospitality sector more financial support, saying venues remain “pretty full”. Business leaders have issued a fresh call for more economic help for the hospitality sector after fears around the new Omicron variant led to a steep decline in trade in the usually busy
Business
Footfall at shopping sites across the UK on Boxing Day fell to almost half of levels seen pre-pandemic, figures show. Shopping centres, usually filled with Boxing Day sale bargain hunters, saw footfall plunge by almost 50% compared to the same day in 2019, while high streets and retail parks saw falls of 38% and 40%.
Business Secretary Kwasi Kwarteng is to hold meetings with energy bosses today to address rapidly rising gas and electricity prices. Mr Kwarteng will meet with the bosses of major energy suppliers who are likely to ask the government for tax cuts and the relaxation of green levies. Last week, the industry’s trade body Energy UK
The Premier League is facing a fresh bout of boardroom upheaval with the resignation of its longest-serving independent director amid the COVID-induced chaos that has hit the top flight of English football. Sky News has learnt that Kevin Beeston, who joined the Premier League board in 2015, has informed colleagues that he plans to step
People are expected to do more post-Christmas sales shopping online but spend more in previous years, a survey has found. Shoppers plan to spend on average of £247 each in the end-of-year sales, an increase of £85 on last year and £61 more than in 2019, in a reassuring sign for online retailers, according to
Central London saw the biggest drop in footfall of anywhere in the country as concerns about the spread of the Omicron variant kept shoppers at home. The number of shoppers in the capital was 30.3% lower on the morning of Christmas Eve than it was on the previous Friday, new data from Springboard has shown.
The university spin-out venture chaired by Lord O’Neill, the former Treasury minister and Goldman Sachs economist, has secured backing from a syndicate of City investment giants. Sky News has learnt that funds managed by M&G Investments, Lansdowne Partners and Columbia Threadneedle are to invest in Northern Gritstone, a collaboration between the universities of Leeds, Manchester
Selfridges has been bought by a Thai retailer and Austrian property company in a £4bn deal, according to reports. The luxury department store chain was bought by the Weston family in 2003, who then went on to establish the Selfridges Group in 2010. But the Selfridges portfolio, which includes 18 sites across England, Ireland and
Lloyds has apologised after some customers were unable to access their online banking accounts on Thursday evening. Users began tweeting they were having problems logging in to the app and website just after 9pm. For some, a message popped up on some screens reading: “We are sorry that our internet banking is currently unavailable. Please
The businessman drafted in by Boris Johnson to advise on the supply chain problems which hit the British economy in the autumn has concluded that major infrastructure changes are needed to avert repeated crises. Sky News has seen an email sent by Sir Dave Lewis, the former Tesco chief executive, to participants in his review
Ryanair has revealed a “sudden downturn” in Christmas bookings has prompted it to slash January flights and pencil in annual losses more than twice as large as previously expected. The Dublin-based airline disclosed the figures as it outlined the financial impact of the Omicron variant and recent government restrictions designed to tackle its spread. It
Britain’s slowing economic recovery was even weaker than previously thought over the summer, according to revised official data. The updated figures from the Office for National Statistics (ONS) showed gross domestic product (GDP) rose by 1.1% in the third quarter, down from an earlier estimate of 1.3%. They add to more recent evidence that the
You can’t have Christmas without cardboard, or Boxing Day without a box for that matter. Corrugated board and the paper from which it’s made – fibre as it’s known in the industry – is a fundamental raw material during the festive season. Many parents will be familiar with a child enjoying the box more than
New economic support for the hospitality sector “borders on insulting” and amounts to “far too little”, the Treasury has been told. Chancellor Rishi Sunak has announced an additional £1bn in financial support for the hospitality and leisure sectors, with every business able to claim a cash grant of £6,000 to help them survive the winter.
Rishi Sunak has announced an additional £1bn in financial support for the hospitality and leisure sectors, with every business able to claim a one-off cash grant of £6,000. The Treasury is also providing a £30m top-up to the Cultural Recovery Fund – which supports institutions such as museums and theatres – and reintroducing the Statutory
Manchester United Football Club is to unveil Richard Arnold as its new boss following a turbulent period that has seen the sacking of its manager and a backlash over its involvement in the abandoned European Super League (ESL). Sky News has learnt that the Premier League club could announce to the New York Stock Exchange
The UK’s tech sector has enjoyed a record year with start-ups attracting more capital than ever before, new data shows. During what was the tech sector’s best year since 2014, some £29.4bn was raised by start-ups and scale-ups, according to figures prepared for the government’s Digital Economy Council, which were released on Monday. That was
Additional funding to tackle the coronavirus pandemic in Scotland, Wales, and Northern Ireland has been doubled – after the health secretary refused to rule out a two-week circuit-breaker lockdown. The devolved administrations can now spend an additional £860m, the Treasury said, after extra measures and guidance to tackle Omicron were announced by the first ministers
Sir Dave Lewis, the former Tesco chief, will this week be appointed to lead the £40bn separation of GlaxoSmithKline’s (GSK) consumer healthcare arm. Sky News has learnt that Sir Dave, who became one of Britain’s most respected corporate figures during his six years running Britain’s biggest retailer, has agreed to become non-executive chairman of the
Marks & Spencer (M&S) has drafted in headhunters to shape a three-way internal contest to become its next chief executive – a process that could see the appointment of the first female boss in the chain’s 137-year history. Sky News has learnt that M&S’s nominations committee has hired MWM Consulting, a leading search firm, to