The government should explore plans to turn the Post Office into a profit-sharing business, allowing postmasters to participate in the future financial success of Britain’s largest retail network, its chief executive has said. Sky News has learnt that Nick Read, who has run the Post Office since the autumn of 2019, told colleagues last week
Business
The UK’s most influential commercial property organisation is wading into a battle over the future of the Japanese-owned car park operator NCP. Sky News understands that the British Property Federation (BPF) has begun convening calls for NCP landlords next week as they face demands to write off substantial rent arrears. A group of landlords is
One of Britain’s wealthiest businessmen is assembling a £300m takeover bid for Homebase, the DIY chain which has been revived from the brink of collapse just three years ago. Sky News has learnt that Hugh Osmond, who is spearheading a legal challenge to the government’s coronavirus restrictions on the hospitality sector, is among a number
The owner of the vast Stanlow oil refinery in north-west England is in urgent talks about its future amid growing concern that it could be nearing collapse. Sky News has learnt that Essar Oil UK, which bought the site at Ellesmere Port from Shell in 2011, has been in discussions for weeks about efforts to
Jet2’s chief executive says the travel company will suspend flights and holidays until at least 23 June due to uncertainty over the government’s travel proposals. Steve Heapy said he had been “extremely disappointed at the lack of clarity and detail” in the plans, which were announced overnight. He added: Because of the continued uncertainty that
Most airlines have struggled during the coronavirus pandemic, but two newbies are bravely planning to enter the US market in the coming months. Avelo Airlines announced on Thursday that it will start flying later in April to 11 destinations from its hub in Burbank, California. It currently has three Boeing 737 jets but plans to
The Co-op Group is to hand annual bonuses to senior executives despite refusing to repay £65m in business rates relief it received from the government to support it through the pandemic. Sky News can reveal that the mutual’s remuneration committee has decided to reward chief executive Steve Murrells and senior colleagues for their work last
The Co-op Group will risk igniting a reputational row on Thursday when it announces that it will not repay all of the government funding it received during the pandemic – despite its 2500 food stores remaining open throughout. Sky News has learnt that Britain’s biggest mutual will commit to a partial repayment of state support
The chief executive of Virgin Media is to take the helm of Britain’s biggest mobile network operator, it will announce this week as it seeks regulatory approval for its £31bn tie-up with O2. Sky News has learnt that Lutz Schuler, who has run Virgin Media since mid-2019, will be named on Wednesday as chief executive
UK Deliveroo riders are expected to strike over pay and conditions as unconditional trading commences in the company’s shares. Hundreds of riders are expected to strike on Wednesday, with socially-distanced protests planned in London, York, Reading, Sheffield and Wolverhampton. The Independent Workers’ Union of Great Britain (IWGB) said the riders want the living wage, safety
The chief executive of easyJet has warned that foreign holidays risk becoming the preserve of those with expendable income , as the industry eagerly awaits news on when international travel can restart. Johan Lundgren told Sky News that a planned traffic light system for destinations, which will demand pre-departure and post-arrival COVID-19 tests for passengers,
Thousands more high street jobs are to disappear as part of a deal that could nonetheless salvage approximately half of the workforce at the stricken clothing chain Peacocks. Sky News has learnt that up to 200 of the chain’s 400-plus stores and 2000 jobs will be saved by an investment consortium which has agreed to
The former boss of Britain’s most influential financial lobbying group is throwing his weight behind the trial of a service that it wants to become a national solution to the disappearance of thousands of bank branches across Britain. Sky News has learnt that Stephen Jones, who ran UK Finance until last year, has joined OneBanks
The British cybersecurity company Darktrace is this weekend finalising plans for a £3bn stock market listing, despite the shadow cast over technology ‘unicorn’ floats in London by this week’s Deliveroo’s disastrous debut. Sky News has learnt that Darktrace’s board – led by new chairman Gordon Hurst – wants to issue an expected intention to float
Britain’s biggest defence contractor has handed its chief executive a multimillion pound pay rise as its board scrambled to prevent a rival FTSE-100 company from poaching him. Sky News can reveal that BAE Systems has increased Charles Woodburn’s base salary by well over £100,000 and awarded him an additional ‘golden handcuffs’ share package worth £2m
Uber has been ordered to pay $1.1m (£790,000) to a blind woman who was refused rides on 14 separate occasions. An independent arbitrator found that the company illegally discriminated against Lisa Irving due to the treatment she and her guide dog received from its drivers. Ms Irving brought the complaint against Uber in 2018 as