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NatWest has restored shareholder dividends after swinging back into profit, significantly beating expectations. The state-backed bank posted a pre-tax profit of £2.5bn for the six months to June, compared with a loss of £770m the year before. It makes NatWest the latest bank to smash forecasts, following on from both Barclays and Lloyds earlier this

The US economy has recovered to surpass its pre-pandemic peak according to official figures – though growth was slower than expected in the latest quarter. Robust consumer spending fuelled by vaccinations and government stimulus helped gross domestic product (GDP) grow at an annualised rate of 6.5% in the April-June period, according to the bureau of

The competition watchdog has imposed fines totalling £100m in the latest case of so-called price gouging that saw patients lose access to a free drug on the NHS. The Competition and Markets Authority (CMA) found that pharmaceutical company Advanz charged “excessive and unfair prices” for supplying liothyronine tablets, which are used to treat thyroid hormone

Travel bosses have hailed the loosening of COVID rules for US and EU travellers as a move that would “get global Britain back in business”. Shares in British Airways owner International Airlines Group rose more than 3% while there were also rises for easyJet, Ryanair, Tui and engine maker Rolls-Royce. Cruise operators Carnival and Saga

Airlines are putting pressure on the government to exempt fully-vaccinated Americans and EU visitors from quarantine on their arrival to the UK. Amid widespread reports ministers could announce such a move as early as Wednesday, British Airways and Virgin Atlantic – as well as Heathrow Airport – have claimed a recent trial demonstrates how international

Morrisons’ largest shareholder has said it is “not inclined” to back a £6.3bn takeover deal agreed by the supermarket’s board. Investment firm Silchester, which holds a 15.1% stake in the group, said the board should allow more time for offers to emerge that might better the bid from the consortium led by Fortress Investment Group.

Moonpig, the online greeting card and gift retailer, has reported a doubling of annual revenue and profits as lockdown restrictions on shoppers boosted demand. While high street rivals were forced into hibernation as part of efforts to curb the spread of COVID-19, the company benefited from almost 51 million transactions as customers flocked to mark

Kwasi Kwarteng, the business secretary, has ordered officials to launch a national security probe into the £2.6bn takeover of Ultra Electronics, a key supplier of military technology, by Cobham, the former London-listed defence group. Sky News has learnt that Mr Kwarteng has told civil servants at the Department for Business, Energy and Industrial Strategy (BEIS)

Heathrow Airport has urged the government to reopen the UK economy to fully vaccinated travellers from the European Union and United States by the end of the month after revealing coronavirus crisis losses of almost £3bn to date. The company said expensive COVID-19 testing requirements were hampering an effective reopening of the skies while it

Zopa, one of Britain’s biggest digital financial services providers, is in talks with investors about a £100m capital injection that will put it on course to become the country’s latest fintech ‘unicorn’. Sky News has learnt that Zopa has hired JP Morgan, the Wall Street investment bank, to advise on what is expected to be

Taxpayers will spend decades exposed to financial risks from the government’s coronavirus spending, according to a committee of MPs. Parliament’s public accounts committee (PAC) has produced two reports related to the crisis, the first of which warns that Britain will be exposed to “significant financial risks for decades to come”. The cost of government measures

The newly listed owner of Burger King’s UK operations has begun drawing up plans for a sale of the business next year in a bet on an accelerated recovery of Britain’s pandemic-hit restaurant industry. Sky News has learnt that Bridgepoint Group is holding preliminary talks with investment banks about an auction of one of the

Boris Johnson is facing growing pressure to allow fully vaccinated people who have been identified as close contacts of coronavirus cases to be exempt from isolation. London Mayor Sadiq Khan has joined business leaders in calling for more workers to be allowed to skip quarantine if they are alerted by the NHS COVID-19 app to

The UK’s economic bounce-back has slowed sharply partly thanks to the impact of the “pingdemic” causing workers to isolate, according to a key business survey. A “flash” estimate of private sector activity for July showed the weakest expansion since March as Britain’s firms battle to recover from the coronavirus crisis. The reading of 57.7 –

Around 10,000 workers in the food supply chain industry are to become exempt from coronavirus self-isolation rules – but this will not include supermarket staff, the government has said. Environment Secretary George Eustice said the government has identified “up to 500” distribution centres and food supply chain hubs where workers could be part of the

Supermarkets Sainsbury’s, Iceland and Co-op have revealed they are suffering stock shortages as concerns grow about the impact of the so-called “pingdemic”. Sainsbury’s, Britain’s second biggest supermarket, said it “might not always have” products customers want while Iceland revealed it was also being hit and urged customers not to stockpile. Co-op said it was “running

Retailers say they are under “increasing pressure” to keep shelves fully stocked amid staff shortages caused by the “pingdemic”. Industry bosses have warned that supply chains are “starting to fail” due to the number of workers, including lorry drivers and meat-processing staff, getting pinged by the NHS COVID app. Live COVID updates from the UK

Boris Johnson has apologised to businesses impacted by a rising number of staff members having to self-isolate due to coming into close contact with a positive coronavirus case. Speaking at the last PMQs before the summer recess, the prime minister – himself isolating at Chequers after coming into contact with COVID-positive Health Secretary Sajid Javid

MPs have promised a new amendment to help flat owners “trapped” in buildings affected by the cladding crisis. Leaseholders who bought flats in blocks that were later found to be unsafe have seen the value of their homes wiped out while they wait to be told of the scale and cost of repairs. On Wednesday,

The government will not draw up a list of critical jobs that will be exempt from full self-isolation if workers are “pinged”. Instead, employers will have to apply to government departments to allow workers to effectively circumvent the rules. Boris Johnson announced on Monday that critical workers, who have been fully vaccinated for at least

The government’s plan to enforce people to show full proof of vaccination to enter nightclubs and other “crowded venues” from the end of September has been condemned as an “absolute shambles” by the industry. Boris Johnson revealed on Monday that in two months’ time, those wishing to enter venues where large numbers of people gather