Business

A British-based cruise operator which has been at the centre of a repatriation row involving hundreds of crew is in eleventh-hour talks with potential investors in a desperate bid to stay afloat. Sky News has learnt that Cruise & Maritime Voyages (CMV), which employs about 4,000 people, is in talks with VGO Capital Management, a

The UK’s budget watchdog has revised sharply higher its projections for the cost of the government’s response to the coronavirus crisis and warned the country remains on track for its worst economic slump in 300 years. The Office for Budget Responsibility (OBR) said it now expected the chancellor’s support programmes for the economy – part-bolstered

For employers and employees these are challenging and confusing days. Challenging because the UK is on the brink of an historic recession. Thousands of business owners are uncertain of their future viability, and more than nine million workers are wondering if they will be among the millions left unemployed when the government stops paying their

G4S has announced plans to cut up to 1,150 jobs through a shake-up of its cash-handling business in the UK. The company said it was the culmination of a review covering the operational footprint of its Cash Solutions arm including vans which pick up and deliver cash to businesses across the economy. The review is

The government should establish a “UK Recovery Corporation” to help tackle a £35bn state-backed debt burden accumulated by British businesses during the coronavirus crisis, a panel of top City figures will say this week. Sky News has exclusively obtained the principal recommendations of the Recapitalisation Group (RCG) – overseen by TheCityUK lobbying organisation – which

Sir Richard Branson’s Virgin Atlantic Airways is this weekend racing to secure the backing of a giant American payments group for a £1bn rescue deal that would save thousands of British aviation jobs. Sky News has learnt that First Data, a subsidiary of Nasdaq-listed Fiserv, has in recent days demanded stringent terms in return for

The fund manager whose firm’s collapse last year sent shockwaves through the City is staging his comeback as an adviser to a backer of start-up companies. Sky News has learnt that Neil Woodford has quietly begun working for Juno Capital, whose partners include the FTSE-100 grandee Sir Nigel Rudd, who has run and chaired a

Under a warm, blue sky, Thierry Voirin is wandering through his fields of vines. Carefully, he examines them, looks at the leaves, feels the soil. Here, in the only place in the world allowed to use the name for its sparkling wine, his grapes will be used to make champagne. It is a luxury product,

The company behind Wagamama and Frankie & Benny’s has warned that one in 10 of its sites will not reopen this year. The Restaurant Group said the sites, which are mostly at airports, will open in 2021 at the earliest because “footfall is anticipated to remain considerably weak” until then. It is not clear what

Consumers in the UK could face higher prices next year unless a tariff-free trade deal with the EU can be reached, the British Retail Consortium has warned. The UK and EU remain locked in talks on a free trade deal but there are concerns an agreement will not be struck before the UK leaves its

It has clothed generations of Americans for more than 200 years, including 40 of the country’s 45 presidents, but Brooks Brothers has just become the latest US retailer – and probably the most high-profile – to turn up its toes. The company, which for the last 19 years has been owned by the Italian businessman

High street chain Boots is planning to cut more than 4,000 jobs in a shake-up prompted by the “significant impact” of COVID-19. The move will affect around 7% of the pharmacy retailer’s workforce, in particular at its Nottingham support office. Store deputy and assistant manager and customer adviser roles across the country are also facing

Chancellor Rishi Sunak has announced a “plan for jobs” to stimulate Britain’s battered economy. Here are the key points: EATING OUT DISCOUNT In August, everyone in the country will be given an “eat out to help out” discount – 50% off at participating restaurants, cafes and pubs. It applies for a maximum discount of £10

Online fashion retailer Boohoo has launched an independent review of its UK supply chain after allegations about working conditions at one factory. The company said it was “shocked and appalled” by claims in the Sunday Times that workers at a site in Leicester were being paid as little as £3.50 an hour, well below the

Ineos has suspended plans to build a new 4×4 vehicle in south Wales and may make the vehicle at a site in France instead. The factory in Bridgend had been expected to create up to 500 jobs, providing a boost to automotive workers just as Ford closes its engine plant in the town with the

UK shopping visits are still only at half the level of last year and the reopening of pubs and cafes failed to deliver a hoped-for boost, according to industry figures. Footfall was down 49.6% for the week ending 4 July compared to the same week a year ago, the British Retail Consortium (BRC) said. The