Business

A quarter of a million hospitality jobs are at risk from additional coronavirus restrictions imposed on London from this weekend, the mayor of London has been warned by an industry chief. Sky News has seen a letter to Sadiq Khan from Kate Nicholls, chief executive of UKHospitality, in which she said that his request for

Pubs group Marston’s has warned that 2,150 jobs will be impacted after the government tightened coronavirus restrictions. Curfews and new rules on face masks table service, added to “three tier” guidance for operating in England as well as tough limitations in parts of Scotland had taken their toll on consumer confidence, the company said. Marston’s

The government is paying individual private sector consultants million-pound wages to work on its test and trace system, according to documents seen by Sky News. Some executives from Boston Consulting Group (BCG) helping the government set up and run its testing system are being paid day rates of around £7,000 – equivalent to an annual

Online fashion retailer Asos has reported a 329% rise in annual profits after sales held up thanks to demand for casual clothing and sportswear during lockdown. Revenues rose 19% for the year to the end of August – a slight slowdown compared to the 21% growth in the first half of the year, with smart

More than 90 million people could be forced into “extreme deprivation” this year as developing and emerging economies are hit hardest by the coronavirus pandemic, the International Monetary Fund (IMF) has warned. In its latest World Economic Outlook, the world’s lender of last resort predicts the pandemic will undo decades of progress in reducing global

Unemployment rose to a three-year high over the summer and there were more redundancies than any time since 2009, official figures show. The jobless rate climbed to a higher than expected 4.5% in the three months to August, up from 4.1% a month before, as the coronavirus crisis took a further toll on livelihoods. That

Boris Johnson will this week seek to portray Britain as a welcoming destination for foreign investors by unveiling plans for a Downing Street operation aimed at securing backing for multibillion-pound infrastructure projects. Sky News has learnt that officials at Number 10 are coordinating the launch of a unit called the Office for Investment, which insiders

British Airways chief executive Alex Cruz is stepping down from the role with immediate effect, owner International Airlines Group (IAG) said. IAG boss Luis Gallego said the shake-up came as the company navigated “the worst crisis faced in our industry” – which has seen demand crushed by the coronavirus crisis and thousands of jobs axed.

Administrators to one of Britain’s biggest care home operations have resumed a delayed break-up of the group by entering talks to sell its business in Northern Ireland. Sky News understands that Alvarez & Marsal, which has been overseeing the bankrupt parent company of Four Seasons Health Care (FSHC) for almost 18 months, has begun a

The expansion of the government’s job support scheme will put close to one million roles at risk and is like throwing whole sections of the economy on the “scrapheap”, Labour has said. The shadow business secretary, Ed Miliband, also said fewer than one in 15 jobs in shut-down businesses stand to benefit from the move.

One of Britain’s leading industrial groups is lining up a move to recruit Sir Andrew Parker, the former head of MI5, to its board. Sky News has learnt that Babcock International Group is in advanced talks to appoint Sir Andrew as a non-executive director, in the latest stage of a boardroom overhaul. The recruitment of

Vue International, one of Britain’s biggest cinema operators, has called in City advisers to help see it through the biggest financial crisis in the industry’s history. Sky News has learnt that Vue has appointed Deloitte to work on options to shore up its balance sheet, days after rival Cineworld saw its shares crash after announcing

Workers at businesses forced to shut due to stricter lockdown measures will have two-thirds of their salaries paid by the government. Chancellor Rishi Sunak unveiled the expansion of the Job Support Scheme, which is a successor to the furlough scheme, saying: “It will provide a safety net for businesses across the UK who are required

The economy grew 2.1% in August but remained 9.2% below its February level, official figures show. The Office for National Statistics figures showed the manufacturing sector grew by 0.7% (still 8.5% below February’s figure) and construction grew by 3% (10.8% below February). The services sector grew by 2.4% (9.6% below February). Image: Chancellor Rishi Sunak will be

More than a thousand consultants from Deloitte are now working on Test and Trace, according to newly-released documents that underline the scale of the government’s reliance on the private sector. According to documents released by the Department of Health and Social Care (DHSC) under Freedom of Information rules, there are currently 1,114 consultants from the

Low-cost carrier easyJet said it expects a £845m loss this year due to the pandemic in what will mark the first full-year loss in its history. The company painted a bleak outlook as it forecast a significant drop in capacity for 2021 and called on the Government to help the embattled aviation sector. Sky News