Business

Small breweries in Britain are warning that hundreds of jobs are at risk over government plans to cut tax relief. The Society of Independent Brewers (SIBA) described the proposals as “madness” during a period when many businesses are on the brink of collapse. Under the plans, up to 150 small breweries would have to pay

A £15bn National Renewal Fund targeted at more than 20,000 “growth economy” companies needs to be set up if Britain is to avert an “economic catastrophe” triggered by the coronavirus pandemic, the eminent historian Sir Anthony Seldon warns this weekend. Sky News has seen a report produced by Sir Anthony and the Business Growth Fund,

Inspired by footballer Marcus Rashford’s campaign, businesses across the country have pledged to provide free meals for children from families struggling during the pandemic. The Manchester United star has been pushing for the government to extend free school meals for eligible children over the school holidays until Easter next year, but MPs rejected it in

The American buyout firm proposing a £300m cash injection into English football is lining up a former BBC executive to spearhead a revolution in the running of the lower leagues’ commercial operations. Sky News has learnt that TPG Capital is working with Dominic Coles, who steered the corporation’s coverage of the London Olympics in 2012,

A technology company which processes data from millions of cars is in talks to raise $350m (£268m) from investors, in what would be one of the biggest-ever fundraisings targeted by a British start-up. Sky News has learnt that Wejo, which is based in Cheshire, is close to hiring investment bankers to oversee the mammoth capital

A report from the National Audit Office (NAO), looking into how well the Treasury and HM Revenue & Customs managed risks involved in implementing the furlough scheme – and its sister scheme to support the self-employed – makes for depressing reading. Even at a time when the public is becoming inured to the vast sums

Caffe Nero is considering an insolvency mechanism to restructure its financial liabilities as the coronavirus crisis continues to inflict pain on high street hospitality businesses. Sky News has learnt that the chain, which is one of Britain’s biggest coffee shop operators, is examining a company voluntary arrangement (CVA) as an option to reduce its rent

Barclays has warned it is evaluating cost-cutting measures after raising provisions for bad loans during the coronavirus crisis to date to £4.3bn. The bank reported that third quarter group profit before tax came in at £1.1bn after booking charges of £608m in the July to September period. It had previously revealed provisions of £3.7bn covering

Official figures show the biggest quarterly leap on record for retail sales, as the sector battles back from the coronavirus lockdown amid renewed restrictions. The Office for National Statistics (ONS) reported a 17.4% jump in volumes in the third quarter of the year covering July to September. The wider figures were much stronger than analysts

Restaurant chain KFC has announced plans to create a further 5,400 jobs following a surge in demand for takeaway meals during the coronavirus crisis. The fast food chain said the new jobs will be created across its 965 restaurants in the UK and Ireland and will come in addition to the 4,300 roles created since

West Midlands mayor Andy Street was urged to stop criticising the government by fellow Conservatives when he lobbied the chancellor to provide more support to struggling businesses. Mr Street told Sky News members of his party asked him to keep quiet despite his concerns that Tier 2 COVID-19 restrictions would endanger businesses, and said the

The leaders of Greater Manchester and Merseyside have accused the government of only providing extra support to coronavirus-hit businesses once restrictions were imposed on parts of southern England. Chancellor Rishi Sunak on Thursday broadened support for firms and workers affected by localised COVID-19 measures with billions of pounds of extra help. The announcement came just

KPMG has become the second major auditor to begin exploring a sale of its UK restructuring arm in as many months, as the big four accountants prepare for unprecedented reform of the profession. Sky News can reveal that KPMG is reviewing options for its restructuring division, which comprises dozens of partners, even as the coronavirus

Sportswear giant Adidas finally looks set to end its unhappy ownership of the Reebok brand. German news magazine Manager-Magazin, which has a strong track record in reporting corporate developments in the country, reported on Thursday that Adidas aims to complete a sale of Reebok by March next year. It added that Adidas had written down

Regulators have blocked the merger of ticket resale websites Viagogo and StubHub in the UK. The Competition and Markets Authority said its in-depth investigation has provisionally concluded that Viagogo will need to sell all or part of StubHub in order to complete the £3.2bn deal. The CMA said Viagogo ‘s takeover of StubHub could see

Shell, the FTSE-100 oil behemoth, is among the bidders vying to gain control of the Post Office’s telecoms arm in a deal that would transform the size of its broadband customer base. Sky News has learnt that Shell, which took control of the retail energy and broadband supplier First Utility in 2018, is one of