Business

Britain’s retail sector has warned of “severe” consequences from new Tier 4 restrictions, meaning non-essential shops in affected areas will have to close in the week before Christmas. The British Retail Consortium said thousands more jobs could be at risk – in an industry already devastated by months of pandemic disruption. It criticised the government’s
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The bosses of some of Britain’s best-known technology companies have been courted by Boris Johnson as they contemplate public flotations that would make them collectively worth tens of billions of pounds. Sky News has learnt that the prime minister held talks on Friday afternoon with executives from businesses including Deliveroo and Revolut, the digital banking
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Retail sales fell by 3.8% last month when a four-week lockdown in England closed shops selling non-essential goods, official figures show. While the monthly drop from October ended six consecutive months of growth within the sector, overall sales remained above their pre-pandemic levels, the Office for National Statistics said. In November 2020, clothing store sales
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Bank of England governor Andrew Bailey has apologised after an independent report severely criticised the City regulator that he led at the time of a £237m investment scandal. The report found the Financial Conduct Authority (FCA) was “wholly deficient” in the oversight of minibond provider London Capital & Finance (LCF). Former Court of Appeal judge
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Stockpiling has resulted in supply chain delays for 45% of manufacturing firms, according to a closely-watched survey of activity. The IHS Markit/CIPS flash composite Purchasing Managers’ Index for the services and manufacturing sectors suggested a return to growth early this month after coronavirus lockdowns dragged on the economy in November. But the report said manufacturing’s
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The American computer games giant Electronic Arts (EA) has gatecrashed the £725m takeover of Codemasters, the London-listed producer of some of the world’s most popular motor racing titles. Sky News has learnt that EA has tabled a potentially knockout bid for Codemasters, trumping an offer agreed last month with Take-Two Interactive Software, maker of the
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