22 May 2019 Image copyright PA “If Jamie can replicate this early Oxford form,” wrote the Guardian's restaurant critic Matthew Norman in 2008, “he will soon be driving a prize herd of recession-proof cash cows across the land.”
Norman was reviewing the first branch of what would become a country-wide franchise, designed, in Jamie Oliver's own words, “with the intention of positively disrupting mid-market dining in the high street in the UK, with great value and much higher quality ingr..
Maternity rights bill could make things worse, campaigner says 22 May 2019 Image caption Jodie Brearley says the new law could make things “worse” for women A bill which aims to protect women's jobs when they return to work after giving birth will have little impact, a pregnancy rights campaigner says.
Politicians want to extend legal protection for women after learning one in nine mothers in Britain was fired or made redundant when going back to work.
But campaigner Joeli Brearley says the..
21 May 2019 Image copyright Getty Images The sharing economy is now making its way into the fashion industry as Urban Outfitters looks to rent clothes to younger fashionistas.
The retailer is launching an online subscription service allowing people to borrow six items to wear for a month before swapping them.
The firm says that in terms of clothing, millennials in particular want variety and sustainability.
The womenswear service, called Nuuly, will launch in the US this summer.
By Adam Parsons, business correspondent
In a deal heralded as a “turning point” for the fossil fuels industry, oil giant BP has accepted that its plans for the future must now embrace the terms of the Paris climate change agreement.
A resolution, saying that the company must put the agreement at the heart of its future strategy, was passed with more than 99% of the votes.
BP's chairman, Helge Lund, said a transition to a low-carbon economy was “in the best interests” of the company.
Image: Demonstrators were removed after interrupting the AGM in Aberdeen He also said that the company accepted scientific proof of climate change and now wanted to play “a leading role” in the global move away from fossil fuels.
But he added that BP needed to follow a “dual challenge” by meeting the world's growing energy needs while also reducing greenhouse gas emissions.
Mr Lund was speaking at the company's annual general meeting, held in Aberdeen.
The collapse of Jamie Oliver's restaurants empire is merely the latest and most high-profile continuation of a trend that was established in the eating-out sector two years ago.
Jamie's Italian and Barbecoa now join a roll-call that, during 2019, has seen Boparan Restaurant Group announce plans to close around a third of its Ed's Easy Diner and Giraffe outlets and Patisserie Valerie close more than 70 outlets since unearthing accounting problems late last year.
The Restaurant Group, one of the biggest quoted companies in the sector, is also in the process of closing some of its more poorly-performing Frankie & Benny's and Chiquito outlets or converting them to branches of Wagamama, which it recently acquired.
To this list can be added some of the big-name casualties of 2018, which saw the likes of Carluccio's, Gourmet Burger Kitchen, Byron, Handmade Burger Co, Strada and Prezzo all closing sites.
Indeed, the attrition rate appears to be accelerating, with t..
British Steel should be nationalised, urges Labour 21 May 2019 comments Media playback is unsupported on your device Media captionIn Scunthorpe, residents fear the town will “shut down” if British Steel collapsesLabour has urged the government to nationalise British Steel in order to protect jobs and the steel industry.
Labour leader Jeremy Corbyn said the collapse of British Steel would have a “devastating impact” on Scunthorpe.
British Steel is on the verge of administration as it continues to..
Administrators to Jamie Oliver's restaurant chain say 22 sites have closed resulting in 1,000 redundancies after the business collapsed.
KPMG said attempts to bring fresh investment into the celebrity chef's business – at a time of rising costs and fragile consumer confidence – had failed.
Is Britain losing its appetite for casual dining? The overcrowded mid-market restaurant sector is still under pressure even after a series of closures in the last couple of years.
The business was left without enough cash to trade while in administration, meaning that all but three of its 25 eateries have closed.
Jamie Oliver said he was “devastated” as the collapse – first reported by Sky News – was announced.
Image: 22 of the 25 sites have closed KPMG said Mr Oliver had made additional funds of £4m available since the start of this year as the business sought to attract new investment but after failing to do so “and in light of the very difficult trading environment” appointed admini..
By Ed Conway, economics editor
Here are two surprising facts which between them help explain why the UK steel industry seems to be in what looks like a perma-slump.
The first is that in the past two years (to be precise, the past 22 months) China has manufactured more steel than Britain has since the height of the Industrial Revolution in 1870.
Try, if you can, to get your head round that.
In the months since the last general election China has produced more steel than Britain – the country where modern steel manufacturing was invented – has produced. Ever.
This fact is all the more startling when you note that until relatively recently China didn't actually make all that much steel and used to get most of its steel from overseas.
But over the past 20 years it has ramped up steel production to astonishing levels.
Last year alone it produced just shy of a billion tonnes of steel – something that took Britain about a century.
The European Union has tariffs and anti-dumping r..
Ministers will leave “no stone unturned” in supporting the UK steel industry, MPs have been told, as the country's second largest producer teeters on the brink of collapse.
The pledge from business minister Andrew Stephenson came as British Steel remained locked in talks about an emergency government loan and was forced to issue a statement promising workers that they would be paid this month.
It came after Sky News revealed that there were growing signs that the funding would fail to materialise, putting close t 25,000 jobs at risk.
Answering an urgent question in the Commons, Mr Stephenson said speculation over the future of British Steel “will no doubt be creating uncertainty for those employed by the company”.
Image: Andrew Stephenson said he could offer reassurances about support for the steel industry He told MPs he could offer reassurances that the “government will leave no stone unturned in its support for the steel industry”.
“We recognise that global ..
By Mark Kleinman, City editor
The rail booking app Trainline will signal plans within days to press ahead with a stock market listing valuing the company at well over £1bn.
Sky News has learnt that Trainline is expected to issue a statement by the end of the week that will confirm its intention to float on the London Stock Exchange.
City sources confirmed on Tuesday that an announcement was imminent, with a quartet of investment banks lined up to help steer what is likely to be among the largest UK initial public offerings (IPOs) so far in 2019.
However, they cautioned that a final decision about the timing had not yet been taken.
This week's statement will come within weeks of Trainline's owner, KKR, approaching rival private equity firms including Cinven about a potential takeover of the transport booking platform.
KKR is said to value Trainline at well over £1bn, and is not thought to have secured sufficient interest from any prospective buyer to derai..