Business

Public sector borrowing rose to £19.1bn last month as the cost of tackling the coronavirus pandemic took a further toll. The sum – which represents the shortfall between the government’s revenues, such as tax, and its spending on things like the NHS – was the highest for February on record. It was a little lower

Talent agent Melisa Spamer, one of two surviving partners at a LLC that operates as Domain Talent, filed a petition today to expel from the company the other, Joe Vance, alleging that the latter had embezzled significant amounts of money over a number of years. “Respondent’s unlawful activity has resumed with additional acts of embezzlement

The chief executive of Asda is to step down following a £6.8bn takeover deal for Britain’s third-biggest grocer. The company confirmed that Roger Burnley would stay on until next year to allow a successor to be identified, moments after Sky News broke a story that he had informed its new owners of his plans to

Jay Martel, a former showrunner for Key & Peele, is seeking class action status for a lawsuit against ViacomCBS and the WGA which he alleges signed a secretive deal that slashed royalties due writers for streaming views of dozens of ViacomCBS series including Key & Peele, The Daily Show with Trevor Noah, and Tosh.0. The

National Grid is buying the UK’s largest electricity distribution business for £7.8bn and plans to sell its gas transmission arm in a switch it says will enhance its role in delivering “net zero”. The group has agreed to acquire Western Power Distribution (WPD) from America’s PPL corporation in the latest transformation of the utility business

The Interactive Advertising Bureau has slated the NewFronts for May 3 to 6, with Amazon replacing Hulu at the annual week of digital ad pitches. As was the case with last year’s NewFronts, which were pushed to the end of June by the coronavirus pandemic, all presentations this year will be online. The week after

The US central bank has raised expectations of a faster recovery from the coronavirus crisis, signalling it will allow the economy to run hot to drive a recovery in employment. The Federal Reserve left its benchmark interest rate pegged to near zero following its latest policy meeting. But the Federal Open Markets Committee (FOMC) guided,

Korean media group Next Entertainment World has partnered with L.A.’s Library Pictures International, signing a three-year co-financing slate for the production of Korean-language films. A “global local-language content financier focused on industry-leading storytelling,” Library is looking, with NEW, to capitalize on opportunities in the world’s fifth-largest film market, cultivating a diverse set of projects with

New rules to end ‘rewards for failure’ in boardrooms are to be unveiled by ministers this week with the release of a long-awaited white paper on audit and corporate governance reform. Sky News has learnt that the consultation document, which will be published on Thursday, will propose a further review that could make it mandatory

Los Angeles and Orange counties could be reopening even further in two weeks, with Disneyland and other theme parks in the region allowed to open at 25% capacity instead of 15%, movie theaters going from the current 25% to 50% capacity and restaurants doing likewise for indoor dining. According to figures released by the state

Uber is to treat its 70,000 drivers in the UK as workers, meaning they will be entitled to a number of basic employment protections. The ride-hailing app lost a Supreme Court case last month, with a judge ruling that drivers should be classed as workers, not as independent third-party contractors. This means they have access

NBA star LeBron James, who already had a stake in the Fenway Sports Group’s Liverpool soccer club, has become part-owner of the company’s marquee asset: the Boston Red Sox. The Boston Globe first reported the news, which was then confirmed by ESPN. James, a regular on social media, has not yet weighed in. Just prior

The City watchdog has launched criminal proceedings against bank NatWest for allegedly failing to comply with money laundering rules. NatWest is accused by the Financial Conduct Authority (FCA) of failing to adhere to the regulations between November 2011 and October 2016. The case relates to the handling of funds from a single UK incorporated customer

EXCLUSIVE: “That’s the first time I’ve seen the movie in a movie theater; I get chills,” beamed filmmaker Eddie Huang tonight watching his feature directorial Boogie at the AMC Century City 15. “My mother is in that first scene, and I just had to see how it looks,” he gushed. The director and writer of the

Thorntons, the chocolate retailer, has announced plans to permanently close its entire UK store estate of 61 sites. The company said its decision, which was now the subject of consultation with employees, would affect 603 workers though it was yet to rule out the possibility of redeploying some of those affected. Thorntons said it was

Philo, an internet-delivered pay-TV bundle, and consumer electronics retailer Best Buy have extended their partnership with a new promotion. Under the deal, customers without an existing Philo subscription will be able to sign up to the service for $1 for the first month, a deep discount from its regular $20 price. Those looking for the

Hand sanitisers are in and white chocolate bars are out as the basket of goods and services used to calculate inflation undergoes its latest reshuffle. The impact of the pandemic on consumer habits is apparent in the announcement from the Office for National Statistics (ONS) which also sees casual clothing and home exercise equipment added.

Ilyanne Morden Kichaven, executive director of SAG-AFTRA’s Los Angeles local, is retiring after more than 20 years of service to the union. Kichaven, whose last day on the job will be March 19, got a heartfelt sendoff at the local’s membership meeting on Saturday. She’ll be succeeded on an interim basis by Serena Kung, the

An online platform that connects entrepreneurs to internationally renowned figures in fields such as business, sport and politics is seeking £20m to finance its global expansion. Sky News understands that Vintro, which counts former chancellor Lord Hammond among its advisory board members, has embarked on a funding round that is expected to close in the