Business

Ministers are facing a backlash from business over fears of the UK sliding into “lockdown by stealth”. The Confederation of British Industry (CBI) and pub chain Wetherspoons both used the term as they warned over the indirect impact of Plan B restrictions and rhetoric being used by officials about the pandemic. Tony Danker, the CBI’s

Wetherspoons has warned of a profits hit as tightening COVID restrictions and calls for even tougher measures “affect customer sentiment and trade”. The pub chain said its six-month results “may be loss-making or marginally profitable”, criticising “arbitrary changes of direction” by the government. Wetherspoons had already warned last month that some cautious older drinkers were

A robotics and automation company backed by Walmart, America’s biggest grocery retailer, is finalising plans for a $4.5bn (£3.3bn) merger with a ‘blank cheque’ company created by the Japanese technology giant SoftBank. Sky News has learnt that Symbotic is within days of concluding a combination with SVF Investment Corp 3, a New York-listed special purpose

Jupiter, one of Britain’s best-known fund managers, is on alert for a takeover approach amid a frenzy of dealmaking activity across the global asset management industry. Sky News has learnt that Jupiter’s board, which is chaired by Nichola Pease, has hired the advisory firm Robey Warshaw to fortify its defences against a potential bid. City

The future of LV= was thrown into confusion this evening when members of the UK’s second largest mutual life insurer narrowly rejected a takeover by private equity group Bain Capital. The board of LV=, which was formerly known as Liverpool Victoria, had urged its 1.16 million members to support the £530million takeover. However, with 75% of

US inflation has hit a 39-year high in the latest sign of a cost of living squeeze for consumers in the world’s biggest economy. Figures from America’s Bureau of Labor Statistics (BLS) showed consumer price index (CPI) inflation hit 6.8% last month, the biggest year-on-year surge in prices since June 1982. The reading, which was

The company behind the controversial Cambo oil field has said work on the project is being paused – after oil giant Shell pulled out last week. Siccar Point, which owns 70% of the North Sea project off Shetland, said it would now “evaluate next steps”. The project has become a focal point for campaigners seeking

Chancellor Rishi Sunak has warned of “bumps on our road to recovery” as new figures showed growth stalled even before the arrival of the Omicron variant. GDP grew by just 0.1% in October, well short of the 0.4% expected by economists and a big slowdown on September’s 0.6% expansion, the Office for National Statistics (ONS)

The first intensive short courses designed to help more people become HGV drivers are under way, as the country continues to battle a big shortage of delivery professionals. The scheme comes under the government’s Skills Bootcamps programme, designed to support employment in key areas of the economy. A major theme of the supply chain crisis

The government is facing increasing calls to step in and support businesses affected by new “plan B” COVID measures – which include working from home guidance and vaccine passports for some venues. Trade union GMB said it backed the reintroduction of a furlough scheme if the new measures threaten jobs. Industry body UK Hospitality has

The prospect of new Plan B COVID-19 restrictions has sent the pound to a one-year low and stirred dismay in the leisure and travel sectors. Sterling dropped below $1.32 against the US dollar to its lowest level since December last year while the UK currency also slid against the euro. In stock markets, travel and

The Mercedes Formula One team, which includes Sir Lewis Hamilton in its driver line-up, has confirmed it has ended its controversial tie-up with a company that made some of the insulation used in Grenfell Tower. In a statement, it said: “The Mercedes-AMG Petronas F1 Team and Kingspan today announced that they have mutually agreed to

Asda has joined Tesco, its biggest rival, in facing the prospect of strike action ahead of the key Christmas trading season. The GMB union said it was launching a consultative ballot – due to close on 20 December – over the supermarket chain’s decision not to give distribution staff a “meaningful” pay offer. It added

The head of a select committee has reacted with incredulity after an energy boss blamed the way the wind blew for exacerbating problems caused by a devastating storm that cut off supplies to parts of the UK. Paul McGimpsey, director of regulation at the Energy Networks Association (ENA), told MPs on the business energy and

Inflation looks set to “comfortably exceed 5%” next spring as a likely energy bill hike for millions of households takes effect, the Bank of England’s deputy governor has said. Ben Broadbent made the remarks amid questions about whether the Bank may act soon to tackle rising prices with an interest rate hike – or be

Warehouse workers and and drivers at Tesco are to hold a series of strikes over pay which their trade union says could result in shortages in stores. Unite said more than 1,000 of its members – based at depots in Antrim, Belfast, Didcot and Doncaster, would take industrial action. The union said it meant “shoppers

Paul Pester, the former TSB Bank chief executive, is joining Britain’s fintech frenzy by launching the first UK-based social networking app enabling friends and family members to share money. Sky News has learnt that Mr Pester has teamed up with Anthony Thomson, the Metro Bank and Atom Bank founder, and former CompareTheMarket chief Matthew Donaldson

Airline operators have said the return of pre-departure coronavirus tests for all international arrivals to the UK will be a “devastating blow for aviation and tourism”. The rule is being introduced to tackle the spread of the Omicron variant and applies to all travellers over the age of 12 visiting the UK or returning from

Jan du Plessis, the former chairman of BT Group and a host of other FTSE-100 companies, is a leading candidate to chair Britain’s audit watchdog as it prepares for a radical shift in its oversight of corporate Britain. Sky News has learnt that Mr du Plessis, who stepped down as BT’s chairman this week after

The parent company of Boots, Britain’s biggest high street chemist, is to explore a sale of the business next year that could value it at well over £5bn. Sky News has learnt that Walgreens Boots Alliance (WBA) is lining up Goldman Sachs, the Wall Street bank, to advise it on a review of options that