Business

Online fashion retailer Boohoo is facing criticism over its handling of the treatment of workers within the company’s Leicester supply chain. The review, led by Alison Levitt QC, was commissioned by the company in July after media allegations of sweatshop conditions at third-party suppliers during the coronavirus pandemic prompted a dramatic plunge in its share

The Treasury borrowed the third-highest sum for any month on record in August, according to official figures – as the chancellor prepares to unleash his latest support for the coronavirus-hit economy. The Office for National Statistics (ONS) reported that public sector net borrowing, excluding the effects of bank bailouts, was estimated to have hit £35.9bn

Novavax is ready to start its Phase 3 trial of an experimental COVID-19 vaccine in the UK. The US biotechnology firm plans to enrol up to 10,000 volunteers aged between 18 and 84 over the next four to six weeks. The company joins AstraZeneca, Pfizer, and Moderna as its vaccine candidate enters the final step

Chancellor Rishi Sunak has revealed a successor to the furlough scheme as he bids to avert a winter jobs crisis following tougher restrictions to combat coronavirus. Wage subsidies form part of a package of new measures to support the economy through the latest phase of the COVID-19 pandemic – with the focus on topping-up the

Rishi Sunak is unveiling an emergency COVID rescue plan to protect jobs that is expected to include wage subsidies, VAT cuts and more cheap loans for struggling businesses. In a dramatic move, the chancellor has cancelled his autumn Budget and instead will launch a “Winter Economy Plan” after MPs and unions warned of the risk

Mukesh Ambani, India’s richest man and the powerhouse behind one of the country’s largest conglomerates, has emerged as a shock contender to take control of Debenhams, the struggling department store chain. Sky News has learnt that Mr Ambani’s Reliance Retail empire, which last year bought the world-famous British toy store Hamleys, is among a small

It is possible to detect growing dismay and anger among business leaders at how Boris Johnson’s government is handling the pandemic. Some have been consistently critical of the government throughout the crisis, particularly those in aviation, which has been battered by the lockdown and subsequent imposition of quarantine rules on travellers returning to Britain. Watch

Face masks will become compulsory for bar staff, shop workers, waiters and taxi drivers in an effort to combat the rise in coronavirus cases in England, the prime minister has announced. Fines for failing to wear a face mask will rise to £200 and will be extended to customers when they are not seated at

Boris Johnson’s plans to impose a 10pm curfew on pubs and restaurants have been described as a “crushing blow” for the hospitality sector. The new measures are set to be enforced from Thursday across England, amid concerns that social distancing rules aren’t respected late at night. But Kate Nicholls, the chief executive of UKHospitality has

More than £215m in furlough payments have been returned to the government by employers. While the reimbursement will go some way to helping the UK’s leaders with the management of the coronavirus crisis, the figure pales in comparison to the £3.5bn officials think was paid out in error or to fraudsters. Data released by HM

Some of the biggest banks in the world have been accused of allowing criminals to launder dirty money, according to an investigation based on leaked internal reports. Over 2,100 suspicious activity reports (SARs) covering more than $2 trillion (£1.5tn) in transactions were leaked to BuzzFeed News and shared with the International Consortium of Investigative Journalists

Donald Trump says he has given his “blessing” to a proposed deal that could prevent TikTok from being banned in the US. He told reporters at the White House he is backing a deal with Oracle and Walmart that would create a new company to oversee TikTok’s US operations. Mr Trump said the new company

The Wall Street bank Goldman Sachs is to snub the £2bn flotation of one of Britain’s fastest-growing technology companies amid US prosecutors’ efforts to extradite its biggest investor. Sky News has learnt that Goldman has declined to seek a role on the initial public offering (IPO) of Darktrace, a leading player in the provision of

Travel and hospitality stocks have been hit by fears of a second lockdown, as the number of UK coronavirus cases increases. Airlines were the worst-hit: International Airlines Group, which owns British Airways, Aer Lingus and Iberia, closed down 14.6%. EasyJet closed down almost 9.2%, Ryanair was down almost 4% and Wizz Air was down 5%.

Britain’s biggest banks are in talks to set up a new vehicle that would take charge of recovering tens of billions of pounds of COVID-19 debts as lenders seek to avoid a public relations crisis when the emergency loans fall due next year. Sky News has learnt that the main banking lobby group, UK Finance,

Retailers continued their slow recovery during August, as sales volumes increased by 0.8% compared with July, according to the Office for National Statistics (ONS). The figures show August was the fourth consecutive month of growth, also showing a 4% increase compared with February, before the country faced the full impact of the coronavirus pandemic. The