Business

Sir Richard Branson is in advanced talks about a multibillion dollar merger to take Virgin Orbit, his satellite launch company, on to the US public markets. Sky News can reveal that Virgin Orbit is close to finalising a deal to combine with NextGen Acquisition II, a special purpose acquisition company (SPAC) set up by George

World leaders have arrived in Cornwall for this weekend’s G7 summit, as Boris Johnson looks to strike deals on COVID vaccines, girls’ education and the environment. In one of the most high-profile moments of his premiership so far, the prime minister will chair meetings of the world’s leading democracies at Carbis Bay. Follow live updates

Britain’s economy grew by 2.3% in April as the high street and hospitality sector reopened, official figures show. That meant that GDP was a record 27.6% larger compared with the same month last year when the nation was in the grip of the first coronavirus lockdown. Chancellor Rishi Sunak hailed it as a “promising sign

Unveiling BT’s full year results, last month, the company’s chief executive, Philip Jansen, made clear he felt the shares were a long term investment. For the second consecutive year, he announced an increase in spending in fibre rollout, disappointing some shareholders who would rather have seen BT focusing on returns in the shorter run rather

Card spending on travel and eating out hit a new post-pandemic high during the half-term holiday while job adverts in the hospitality sector have surged, according to latest data. The figures were published by the Office for National Statistics (ONS) as part of a regular series of real-time indicators showing the impact of COVID-19 on

Transport operator Go-Ahead said more people are taking its buses and trains than at any time since the start of the pandemic as COVID restrictions ease. It said its regional bus network was seeing passenger numbers at 65-70% of typical levels on most days and at 80% in some regions – up from around 20%

A delay to the lifting of COVID-19 restrictions later this month would “materially” hamper Britain’s economic recovery, a leading business group has warned. The British Chambers of Commerce (BCC) has predicted that a consumer spending surge will see GDP grow by 6.8% this year – but said it would reassess the forecast if restrictions are

Environment secretary George Eustice has described a ban on exporting sausages and processed meats from Great Britain to Northern Ireland agreed as part of the Brexit process as “nonsensical”. Under the terms of the Northern Ireland Protocol a ban will come into force if the UK and EU cannot agree new regulatory standards to cover

The chairman of Royal Dutch Shell will be nominated on Tuesday to a key role at the government’s science quango as ministers seek to intensify Britain’s commitment to post-Brexit innovation. Sky News has learned that Sir Andrew Mackenzie, one of the UK’s leading business figures, will be named as the preferred candidate to chair UK

A coalition of transatlantic airlines have demanded that President Biden and Boris Johnson lift “overly cautious” travel restrictions between the US and UK given the strength of the two countries’ coronavirus vaccine programmes. The companies, which include all the carriers offering passenger services between the nations and other industry players including Heathrow Airport, argued that

There was much excitement when, in April, the chancellor, Rishi Sunak, announced the launch of a new taskforce between the Treasury and the Bank of England to co-ordinate exploratory work on a potential central bank digital currency. The currency was immediately nicknamed ‘Britcoin‘ although it is unlikely to take that name if or when it

The former owner of Formula One motor racing is in talks about a $600m deal that could transform the face of global tennis by combining the organisers of the men’s and women’s tours under a single commercial entity. Sky News has learnt that CVC Capital Partners is in detailed negotiations about an investment in the

Workspace provider IWG has said people are not going back to the office as quickly as they had hoped, warning the trend may impact its profits this year. The company, which owns the Regus brand and competes with brands like WeWork that also offer flexible working spaces, said its profits would be “well below” what

Double the usual number of flights to the UK are due to leave Portugal as holidaymakers scramble to leave on the last day before the country moves to the amber travel list. Thirty-nine flights were due to depart from Faro Airport in the Algarve for the UK on Monday, nearly twice as many as are

Shadow foreign secretary Lisa Nandy has accused Boris Johnson of being “missing in action” on the issue of border controls in Northern Ireland. The Labour minister told Sky News the government must sort out the border in the Irish Sea which is “causing absolute havoc” and warned ministers they have a responsibility to ensure any

Britain’s lowest-paid workers are most at risk of unemployment when the government’s furlough scheme ends later this year, according to a new study. They were also three times more likely to have already lost their jobs during the pandemic, after a “rollercoaster” year, researchers at the Resolution Foundation said. The think tank, which focuses on

The governor of the Bank of England has warned the risks of climate change are not reflected in the market prices of most financial assets. Andrew Bailey was speaking at the Reuters Responsible Business 2021 conference when he said physical risks, such as property damage, could lead to displacement and conflict. This could cut company