Business

Paris has overtaken Heathrow as Europe’s busiest airport, with the London hub reporting falling passenger numbers and rising losses. The news came as Heathrow reported a loss of £1.5bn in the first nine months of the year due to the coronavirus pandemic. Passenger numbers between July and September were down by more than 84% compared

Aston Martin Lagonda says Mercedes is to own up to fifth of its shares under plans to turn around its fortunes. The maker of James Bond’s favourite car said it was to expand the investment partnership between the pair through greater access to the German company’s hybrid and electric technology in exchange for a shareholding

HSBC has warned it could start charging for “basic banking services” after reporting a 35% fall in pre-tax profits for the three months to the end of September. With interest rates so low, Europe’s biggest bank by assets is finding it difficult to charge more for loans than it pays out to depositors. The bank said

The footwear retailer Clarks is kicking off talks with landlords about store closures and rent cuts, reviving tensions between high street shop-owners and tenants which have been thrust into sharp focus during the COVID-19 crisis. Sky News understands that Clarks and its advisers are meeting with landlords this week to discuss a restructuring that would

The aircraft industry has pleaded for a testing regime for travellers as new figures show its third quarter was the worst on record. There were no orders for new aircraft in the month of September and just 13 orders placed during the financial quarter, a decline of 91.4% on the same quarter last year. July

A British technology company that has helped retail investors access billions of pounds of corporate cash calls during the COVID-19 pandemic will this week unveil a fundraising of its own that will catapult it into the top echelons of UK fintech start-ups. Sky News has learnt that PrimaryBid will announce on Monday that it has

Small breweries in Britain are warning that hundreds of jobs are at risk over government plans to cut tax relief. The Society of Independent Brewers (SIBA) described the proposals as “madness” during a period when many businesses are on the brink of collapse. Under the plans, up to 150 small breweries would have to pay

A £15bn National Renewal Fund targeted at more than 20,000 “growth economy” companies needs to be set up if Britain is to avert an “economic catastrophe” triggered by the coronavirus pandemic, the eminent historian Sir Anthony Seldon warns this weekend. Sky News has seen a report produced by Sir Anthony and the Business Growth Fund,

Caffe Nero is considering an insolvency mechanism to restructure its financial liabilities as the coronavirus crisis continues to inflict pain on high Street hospitality businesses. Sky News has learnt that the chain, which is one of Britain’s biggest coffee shop operators, is examining a company voluntary arrangement (CVA) as an option to reduce its rent

Official figures show the biggest quarterly leap on record for retail sales, as the sector battles back from the coronavirus lockdown amid renewed restrictions. The Office for National Statistics (ONS) reported a 17.4% jump in volumes in the third quarter of the year covering July to September. The wider figures were much stronger than analysts

Barclays has warned it is evaluating cost-cutting measures after raising provisions for bad loans during the coronavirus crisis to date to £4.3bn. The bank reported that third quarter group profit before tax came in at £1.1bn after booking charges of £608m in the July to September period. It had previously revealed provisions of £3.7bn covering

Chancellor Rishi Sunak has vowed to “go further” as he announced three new measures to help workers and businesses get through the winter and a coronavirus second spike. Speaking in the House of Commons, he said cash grants of up to £2,100 a month will be given to firms in Tier 2 areas – enough

Businesses in parts of England under Tier 2 coronavirus restrictions will get further financial support in a package unveiled by the chancellor today, according to reports. Rishi Sunak will announce the new measures – aimed particularly at pubs, bars and restaurants – in the Commons on Thursday, the Telegraph claims. Currently, hospitality premises in “high

Shares in Tesla have risen after the electric car maker reported its fifth consecutive quarterly profit. The California headquartered company has overcome disruptions caused by the COVID-19 pandemic to post a 39.2% increase in revenues to $8.77bn (£6.68bn) from a year ago. Tesla said it was on track to deliver half a million vehicles in

A one-year spending review has been announced by the Treasury to “focus entirely” on tackling the coronavirus crisis – as official figures show borrowing records continue to be smashed. The government said it would have liked to outline spending plans for the rest of the current parliament, as it had originally intended. But a statement

Liverpool and Manchester United are in talks about a bombshell plot involving Europe’s biggest football clubs to join a new FIFA-backed tournament that would reshape the sport’s global landscape. Sky News has learnt that financiers are assembling a $6bn (£4.6bn) funding package to assist the creation of what could become known as the European Premier