Business

Boohoo Group is in advanced talks to acquire the remaining components of Sir Philip Green’s high street empire in a deal that will accelerate the transition of famous British retail names to becoming online-only brands. Sky News has learnt that Boohoo is nearing exclusive negotiations to snap up the Burton, Dorothy Perkins and Wallis brands

UK car production slumped to its lowest level since 1984 last year as the coronavirus pandemic disrupted factories and depressed demand, industry figures show. Brexit uncertainty was also partly to blame as the number of vehicles manufactured in Britain fell by 29.3% to 920,928, according to the Society of Motor Manufacturers and Traders (SMMT). SMMT

The 737 MAX has been cleared to resume passenger flights in Europe in a boost for Boeing as it prepares to reveal, what is expected to be, a record annual loss for the company. The US plane maker has been locked in crisis mode since the flagship of its fleet of planes was grounded globally

An announcement on mandatory hotel quarantine for some travellers is expected later today, a move that could deal a further blow to an already struggling tourism industry. Home Secretary Priti Patel will make a statement in parliament about border restrictions, after senior ministers met on Tuesday to discuss whether quarantine should be required for all

UK airline bosses have written to Boris Johnson insisting there is not enough evidence to impose hotel quarantines on all travellers arriving into the country. The chief executives of British Airways, easyJet and Virgin Atlantic were among those who signed the letter to the Prime Minister which also called for support to help the industry

The UK’s unemployment rate has hit 5% for the first time in over four years, according to official figures which suggest over 200,000 people lost their jobs in the three months to November. The Office for National Statistics (ONS) also said 828,000 fewer people were on company payrolls through December compared to the pre-COVID-19 crisis

ASOS has said it is in pole position to snap up the most valuable brands, including TopShop, within Sir Philip Green’s collapsed Arcadia empire. The online fashion retailer issued a short statement to the City on Monday morning to announce it was in “exclusive” talks with administrators after Sky News revealed details on Saturday. The

Fashion retailer Boohoo has paid £55m to acquire the brand of collapsed rival Debenhams – with the intention of relaunching it online. The cut-price deal for the brand name and intellectual property is expected to result in the closure of Debenhams’ remaining stores, according to a report in the Financial Times which was later confirmed

The boardroom pay chief at Hollywood Bowl is facing a shareholder backlash this week after the company decided to ignore the coronavirus crisis in its decision about incentive payouts to top executives. Sky News has learnt that Hollywood Bowl has been trying to appease top investors in recent days in order to prevent an embarrassing

Asos, the online fashion retailer, has emerged as the surprise frontrunner to buy TopShop from the administrators to Sir Philip Green’s former high street empire. Sky News has learnt that Asos has moved into pole position to buy the brand for more than £250m, days after a consortium led by Next withdrew from the race.

The London Stock Exchange is hatching plans to create a £300m listed vehicle aimed at bolstering the survival chances of companies hit hard by the coronavirus pandemic. Sky News has learnt that David Schwimmer, the London Stock Exchange Group (LSEG) chief executive, has been spearheading talks with top City figures and the Treasury about establishing

French authorities have said they are ready to give financial support to the struggling Eurostar. The country’s junior transport minister, Jean-Baptiste Djebbari, told a parliamentary hearing in Paris he was talking with the UK government about ensuring the cross-Channel train operator survives the coronavirus pandemic. He said the French state would be “at Eurostar’s side

Retail sales in 2020 saw the largest annual fall in history as retailers continued to suffer from the effects of the coronavirus pandemic. Despite a 0.3% rise in sales volumes during December, the figure for 2020 as a whole saw sales down 1.9%, with clothing sales slumping by more than a quarter. The slight rise

Retail sales in 2020 saw the largest annual fall since records began in 1996, as retailers continued to suffer from the effects of the coronavirus pandemic. Despite a 0.3% rise in sales volumes during December, the figure for 2020 as a whole saw sales down 1.9%, with clothing sales slumping by more than a quarter.

Next has pulled out of the bidding for TopShop as the auction of Sir Philip Green’s former high street empire enters its closing stages. Sky News has learnt that a consortium comprising Next and Davidson Kempner Capital Management, a US investment firm, have withdrawn from a process being run by Arcadia Group’s administrator. The surprise

Over-50s holiday and insurance specialist Saga is to require customers to be fully vaccinated before boarding cruises, the company has announced. It also said it had pushed back the restart date for its travel business from April to May – to allow customers time to receive the jab. Holidaymakers will have to be vaccinated at