Business

The first week of September is when many Britons traditionally swap the holidays for hard grind. Not this year. While many of us are back at work after the holidays most of us are not going back to work. For those fortunate enough to be able to work from home – around 40% of the

Advisers to Debenhams have asked prospective bidders to table offers for the business on Tuesday as they seek to salvage a future for the 242 year-old department store chain. Sky News understands that Lazard, the investment bank running the sale process, wants interested parties to submit bids by 5pm. The deadline comes as Debenhams’ administrator,

Two of the putative bidders for the AA are in talks about joining forces in a move that could undermine shareholders’ hopes of a hotly contested bidding war for Britain’s biggest breakdown recovery service. Sky News has learnt that Warburg Pincus is holding preliminary discussions about partnering with a consortium comprising two other buyout firms

The former chief executive of Saga, the over-50s insurance and travel provider, is to stage a stunning comeback as part of a £150m capital-raising to shore up its coronavirus-hit balance sheet. Sky News has learnt that Sir Roger de Haan, who sold Saga for £1.3bn in 2004, is to inject up to £100m into the

The Bank of England is “not out of firepower” if it is needed to offer further support to the coronavirus-battered economy, governor Andrew Bailey has said. Mr Bailey has already overseen a £300bn expansion of the Bank’s money-printing scheme – known as quantitative easing (QE) – and a cut in interest rates to a record

Commuting into – and working in – the City daily during the Covid crisis has been an, at times, depressing experience. I began working in the City 30 years ago and have spent most of the intervening period since working in and around the Square Mile. It is an inspiring place. :: Follow live coverage

Waitrose is teaming up with Deliveroo so it can deliver groceries in just 30 minutes, with a retail expert telling Sky News that coronavirus could change the way we shop for good. The supermarket chain is making more than 500 of its food and drink products available on the delivery app as part of a

Job losses at Gatwick caused by COVID-19 are on course to total more than 1,000 after the “dramatic” impact of the pandemic saw it plunge to a £344m half-year loss. The airport revealed that 740 employees have already left even before the 600 cuts announced in restructuring plans set out earlier this week. :: Follow

One of Britain’s oldest newspaper publishers is turning to the pensions lifeboat in a rescue deal that will involve steep haircuts for creditors and underline the crisis facing regional media groups amid the coronavirus pandemic. Sky News has learnt that Archant, whose titles include The New European and the Eastern Daily Press, has struck a

Pret A Manger is cutting 2,800 jobs due to the economic downturn caused by coronavirus. The popular cafe chain said its sales are down to levels around what they were 10 years ago. It follows the announcement that 30 Pret shops across the UK will close permanently. CEO Pano Christou said: “I’m gutted that we’ve

A number of chains and independent restaurants will continue to offer 50% off food when the government’s Eat Out to Help Out scheme ends. More than 64 million meals have been claimed since the scheme was introduced to help the struggling hospitality industry during the coronavirus pandemic. Diners have enjoyed a state-funded 50% discount on

Rolls-Royce has reported a record half-year loss of £5.4bn after it was “severely impacted” by the coronavirus pandemic – prompting a shake-up that has already cost thousands of jobs. The engine maker’s finances have been battered by a collapse in demand for flights, resulting in a hit to revenues as well as huge write-off and

Gatwick Airport is to axe up to 600 jobs – around 24% of its workforce – due to the impact of the coronavirus pandemic on the travel industry. Gatwick, which is owned by VINCI Airports and Global Infrastructure Partners, said in a statement it was only operating about 20% of last year’s flights and would

Pension scams have cost savers more than £30m since 2017 according to a campaign by regulators targeting middle-aged football fans who are among the typical victims. The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) said losses range from under £1,000 to as much as £500,000. They said a total of just under £30.9m

One of London’s biggest commercial landlords is to subsidise discounted meals beyond the Treasury’s ‘Eat Out to Help Out’ scheme in a bid to avoid a renewed slump in footfall. Sky News has learnt that The Grosvenor Estate, which owns property in some of the capital’s most affluent postcodes, will announce on Wednesday that it

The Co-operative Bank has announced plans to cut around 350 jobs and close 18 branches as it cuts costs amid “prolonged economic uncertainty”. Middle management and head office roles will be among those affected as well as staff employed at the branches earmarked to be shut, the lender said. The announcement was partly blamed on