LATEST ARTICLES

US approves UK-grown marijuana-based epilepsy drug

The US drug regulator has approved the first cannabis-based epilepsy treatment for children as young as two. Nasdaq-listed GW Pharmaceuticals, which grows its own marijuana plants in glass houses in Britain, hopes the drug will be approved in the UK next year. The company's chief executive Justin Gover told Ian King Live last week: "This is a new breakthrough in the...

MPs back third runway at Heathrow Airport

MPs have overwhelmingly backed the government's £14bn proposal to expand Heathrow Airport with a third runway. In a vote late on Monday, the House of Commons supported the plan by 415 to 119, giving the government a huge majority of 296. Ministers were aided by the support of 119 Labour MPs voting in favour of the plan, with many of the...

Minister rebukes Brexiteer colleagues over Airbus attacks

A Cabinet minister has issued a stern rebuke to his colleagues by reminding them businesses are "entitled to be listened to with respect" over Brexit. Business Secretary Greg Clark made the remarks as he offered a ministerial response to concerns raised by Airbus about the government's handling of Brexit negotiations. Last week, the major plane manufacturer warned it could pull out...

BMW threat to UK plants if Brexit hits supply chain

BMW's customs manager has warned the company "cannot" manufacture its products in the UK if Brexit means its supply chain is disrupted. Stephan Freismuth spoke out after the company warned last week it needed clarity by the end of the summer on the Government's preferred trade and customs positions. It betrayed the depth of its exasperation at the state of the...

Bank Brexit warning is nothing of the sort

There are two ways to look at the warning from the European Banking Authority that some financial institutions are unprepared for a hard Brexit and need to be. One is that this is a straightforward, common-sense piece of advice. The possibility of a hard Brexit is certainly increasing as the Irish border issue, in particular, looms ever larger as a stumbling...

Clarks boss quits after conduct investigation

The chief executive of shoe manufacturer Clarks has resigned after an inquiry into complaints surrounding his conduct. The retailer said Mike Shearwood had faced claims "contrary to the family-owned company's code of business ethics." Its statement said: "Clarks recently learned that aspects of Mr Shearwood's conduct, conversations and expressions fell short of the behaviours expected of all its employees on a...

Countrywide sinks 25% after profit warning

Shares in Countrywide dropped more than 25% after Britain's biggest estate agent issued a profit warning . The company, which owns Hamptons and Bridgford estate agents, said the property market was "subdued" and it would raise more money to cuts its debt. Countrywide shares fell 26.8% to a record low of 57.5p in early trading. Russ Mould, investment director at AJ Bell,...

Banks 'not prepared' for no-deal Brexit

Banks' preparations for Brexit without a ratified withdrawal agreement are inadequate, the European Banking Authority (EBA) says. The EU's top banking regulator warned banks which have operations in the EU "to speed up their preparations for the potential departure of the UK from the EU in March 2019" without an agreement in place. "Firms cannot take for granted that they continue...

Single Londoners need 17 years to save home deposit

The average single first-time buyer needs to save for 17 years to raise a 15% deposit for their first home in London, according to research. This means someone who starts saving now could expect to buy their first house in 2035, estate agent Hamptons International says. Unsurprisingly, it takes a shorter period of time for a single person to save for...

Uber's bid to overturn London licence ban

Uber is starting its appeal to overturn a decision stripping it of its licence in London after being ruled unfit to run a taxi service in its most important European market. Transport for London (TfL) told the taxi app firm in September last year it would not renew its licence on grounds of public safety and security. Its concerns included Uber's...

MPs set for crunch Heathrow vote without Boris Johnson

MPs will decide later whether to expand Heathrow airport in a crunch vote which looks set to expose divisions in both Labour and Tory ranks. Transport Secretary Chris Grayling said it was "the biggest transport decision in a generation" as he called for cross-party support to approve a third runway. The spotlight will be on the whereabouts of Boris Johnson, who...

Goldsmiths owner hires banks for London float

The British-based retail group behind jewellers Goldsmiths and Watches of Switzerland has picked two banks to spearhead a stock market listing. Sky News has learnt that Aurum Holdings has appointed Goldman Sachs and Barclays to help add sparkle to a public listing that is likely to take place in London sometime next year. The plans, which are being led by Aurum's...

Hunt attacks businesses over Brexit 'threats'

Jeremy Hunt has accused companies of being "completely inappropriate" for going public with fears about the progress of Brexit. The health secretary said interventions from the likes of Airbus only increased the chance Britain would end up with a "fudge". His comments are the strongest criticism yet from a government frontbencher. On Friday, the aerospace giant announced it was making plans to...

First state-run East Coast line train arrives on time

The first service operated by the new state-run franchise that runs trains on the East Coast Main Line has arrived on time. The 7.54 London North Eastern Railway (LNER) service from Newcastle to London Kings Cross arrived at 10.52 as expected. The government took back control of the East Coast rail franchise after its private operators Virgin Trains East Coast lost...

Adult skills giant Learndirect in rescue deal

A little-known education entrepreneur has swooped to seal an audacious takeover of Learndirect, Brit?ain's biggest provider of apprenticeships and adult training services. Sky News can reveal that Dimensions Training Solutions (DTS) struck a deal on Saturday to acquire Learndirect in a deal which will preserve roughly 1,000 jobs and the training courses of thousands more people. The ?acquisition will be transformational...

Trump threatens 20% tariff on all European cars

Donald Trump has threatened a 20% tariff on all European cars if the EU does not remove trade barriers introduced on Friday. His threat - which if carried out would represent a serious escalation of the burgeoning trade war - comes hours after new EU tariffs on goods imported from the US came into force. Based on the Tariffs and Trade...