Business

Leading investors in Pearson, the FTSE-100 educational publisher, are planning to vote against a $9m (£7.4m) pay award for its new chief executive amid fury that the company has forced them into an “all-or-nothing decision” over his appointment. Sky News has learnt that Institutional Shareholder Services (ISS), an influential voting adviser, has recommended that Pearson

Ministers are planning to override parts of the Brexit deal with a bill that could be “inconsistent” with it. The controversial Internal Market Bill was published after the government admitted yesterday it wanted to potentially “break international law”. It is intended to distribute powers being brought back from Brussels to Westminster and the devolved administrations

Wall Street’s “FAATMAN” group of leading tech stocks have suffered a renewed sell-off leaving $1trn wiped off their value in less than a week. The group – comprising Facebook, Amazon, Apple, Tesla, Microsoft, Alphabet and Netflix – took another tumble as US markets reopened on Tuesday after the Labour Day holiday. Tech stocks have led

EasyJet has warned it expects to operate a weaker flight programme than hoped for in the coming months because of a series of coronavirus pressures. The no-frills airline said it had to focus on “profitable flying” as the wider industry bids to recover from the COVID-19 lockdown that has resulted in thousands of job losses

Consumers working and shopping from home helped retail sales to their best growth since the start of the pandemic last month but there was little cheer for the high street, new figures show. Total sales rose by 3.9% in August compared to the same period last year, according to the British Retail Consortium (BRC). It

The Chinese conglomerate which bought the Thomas Cook brand after its collapse last year is plotting an imminent relaunch of one of the most prominent names in the British travel industry. Sky News has learnt that Fosun, which had been a big shareholder in Thomas Cook for several years prior to the company’s demise, is

Britain’s chief Brexit negotiator has said Europe should “take our position seriously” ahead of a new round of crucial trade negotiations. David Frost, who will lead the UK’s post-Brexit trade talks as well as serving as the prime minister’s national security adviser, will meet the EU’s chief negotiator Michel Barnier in London next week. The

Publicans are demanding the urgent reopening of bars across Ireland, which is now the only country in the EU imposing their closure for health reasons. Ireland‘s pubs were shut in March, as coronavirus case numbers began to rise. On 29 June, pubs that could serve a “substantial meal” valued at €9 (£8) were allowed to

The government has parachuted in investment bankers to help thrash out a rescue plan for Britain’s biggest steel producer after months of talks over a deal that could preserve thousands of jobs. Sky News has learnt that Credit Suisse has been asked by the Treasury to advise on talks with Tata Steel, which owns the

US President Donald Trump has congratulated himself on a “much better than expected” unemployment rate in August. Mr Trump was tweeting on Friday after the US Department of Labor announced that the US unemployment rate had fallen from 10.2% in July to 8.4%. He wrote: “Great Jobs Numbers! 1.37 Million Jobs Added In August. Unemployment

Virgin Atlantic says its £1.2bn rescue deal has been completed but that another 1,150 jobs will be cut across all functions. The news confirms a report by Sky’s City editor Mark Kleinman on Thursday night and comes less than four months after the carrier axed 3,150 roles and ended its Gatwick Airport operations. Chief executive

Airport testing is not a “silver bullet” that will end the need for quarantining, the transport secretary has told Sky News. Grant Shapps suggested the government was looking at cutting the amount of time travellers returning from higher-risk countries need to self-isolate for from 14 days to seven. Ministers are facing pressure from airports and

More than 100 million discounted meals have been claimed for under the government’s Eat Out To Help Out scheme, the chancellor has said. Rishi Sunak said the scheme had helped to protect 1.8 million hospitality jobs since it began on the first Monday in August. It provided diners with a state-funded 50% discount on food

Costa Coffee has announced a shake-up putting up to 1,650 jobs at risk as it struggles to recover after the lockdown. The company said it planned to axe the role of assistant store manager across its UK business. “The ongoing impact of COVID-19 remains challenging for Costa Coffee and has required the business to make

Britain’s biggest airport could axe a quarter of its frontline staff after months of talks with trade unions about employee pay and conditions failed to land an agreement. Sky News has learnt that Heathrow Airport informed union officials on Wednesday afternoon that it was issuing a formal Section 188 notice, triggering a 45-day consultation period

House prices have reached a new record high after bouncing back from falls earlier this year with the biggest rise since 2004 last month, according to figures from Nationwide. Prices rose by 2% in August compared to the previous month or 3.7% compared to a year ago, adding to evidence of a rapid recovery after