Business

The EU has offered the UK a series of short-term mini-deals for planes, lorries and fishing boats, should there be no full trade deal between the two sides by 1 January. The bloc made the proposals to the UK on Thursday with trade negotiations still deadlocked just three weeks before the end of the Brexit

The UK economy grew by just 0.4% in October as the recovery from the coronavirus crisis slowed even before latest lockdown measures. Figures from the Office for National Statistics (ONS) showed GDP expanded for the sixth month in a row but remained 7.9% below its February pre-pandemic level. Britain experienced its steepest recession on record

Boris Johnson has said “a good deal is there to be done” with the EU on trade – but says the bloc is currently insisting on terms which no prime minister could accept. Mr Johnson spoke at Prime Minister’s Questions before travelling to Brussels for final talks with EU President Ursula von der Leyen, just

Honda has suspended production at its UK car plant after transport-related delays to parts. The Japanese car maker told workers that it would have to pause work on Wednesday but would re-start as soon as possible. Honda’s factory in Swindon, where it makes the Civic model, operates on a “just in time” basis designed to

Sir Richard Branson’s Virgin Atlantic Airways is selling two of its newest aircraft to raise tens of millions of pounds that will help it to navigate through the bleakest winter in the recent history of commercial aviation. Sky News has learnt that the carrier, which concluded a £1.2bn rescue deal during the summer, is to

Britain’s jobs outlook is the weakest in Europe according to a survey by recruitment firm Manpower. The global poll, which included 1,300 UK employers, found the picture had improved slightly since the summer but remained behind that on the continent. In London, the outlook for the first quarter of 2021 is at an all-time low,

Mike Ashley’s Frasers Group has confirmed it is in talks over a “potential rescue transaction” for collapsed department store Debenhams. The retailer said in a stock market statement that it was “in negotiations with the administrators of Debenhams’ UK business” on a possible deal. It added: “Whilst Frasers group hopes that a rescue package can

B&Q owner Kingfisher is to return £130m in business rates relief taking the total handed back to the Treasury to more than £2bn. The announcement follows similar moves last week starting with Tesco, Britain’s biggest supermarket, which said it would forgo £585m in tax relief granted by the government under a scheme designed to help

The listed price comparison site Moneysupermarket has made a tentative approach to swallow up one of its newest competitors – the money-saving app set up by former Virgin Money chief Dame Jayne-Anne Gadhia. Sky News has learnt that Moneysupermarket.com Group contacted Snoop in recent weeks to enquire about a possible takeover. A source close to

British and EU negotiators will return to the negotiating table today in a “final throw of the dice” as they try to secure a post-Brexit trade deal. With time running out before the Brexit transition period ends at the end of the month, Britain’s chief negotiator Lord Frost will reconvene talks with his EU counterpart

Defence chiefs are in talks about a move to take over one of Britain’s oldest steelmakers in an attempt to shore up the supply chain of Britain’s nuclear submarine fleet. Sky News has learnt that the Ministry of Defence (MoD) is holding preliminary discussions about acquiring control of Sheffield Forgemasters, which traces its roots back

Brexit trade talks between the UK and the EU have been put on hold after the two sides said “conditions for an agreement are not met”. The bloc’s chief negotiator Michel Barnier said he and Downing Street’s David Frost had agreed to “pause” talks on a deal while they brief their principals on the state

Boris Johnson and European Commission president Ursula von der Leyen are to hold emergency talks as negotiations on a post-Brexit trade deal go down to the wire. With time for an agreement rapidly running out, the two sides’ chief negotiators announced on Friday they were putting the talks on “pause” to allow political leaders to

Primark’s owner says autumn COVID-19 lockdowns have resulted in an estimated £430m hit to sales but insists the fashion chain remains on track to deliver improved profits. Associated British Foods (ABF) said in an update ahead of its AGM that only 34 of its stores across Europe remained closed amid continued coronavirus disruption to trading

Ryanair has ordered 75 new Boeing 737 MAX jets as the aircraft prepares for a return to the skies – and the Irish carrier sets its sights on a recovery in aviation next year. The airline announced the deal weeks after US regulators cleared the MAX to fly again following two deadly crashes, with European

A long-awaited trade deal between the UK and the EU has been struck just days before the deadline. The treaty will apply from 1 January 2021 and take over from the existing arrangements under the transition period, which has seen the UK continue to follow most EU rules since Brexit day to limit disruption to