Contracts worth almost £700 million for new offshore wind farms along Scotland’s coasts is “one of the biggest, most significant days” in the nation’s energy and industrial future, Nicola Sturgeon has told Sky News. The first minister said it was “really exciting” as it was announced 17 projects had been awarded contracts for the leasing
Business
Credit Suisse’s chairman has resigned just nine months into the role after breaching COVID-19 quarantine rules – in fresh controversy for the global investment bank as it recovers from a string of scandals. Antonio Horta-Osorio’s departure was announced by the Switzerland-based lender on Monday in an abrupt move that comes less than a year after
There is no winter sport resort quite like Chamonix. Nestled in the shadow of Mont Blanc, it has a glittering history and a reputation for challenging even the best skiers. People travel from all around the world to try their luck on these slopes. And now, the British can join them once again. For nearly
A former executive at Farfetch, the online luxury fashion platform, is a contender to become the next boss of ASOS, the £2.3bn digital retailer. Sky News has learnt that Andrew Robb, who left Farfetch in 2020, is among the candidates being considered by the London-listed company as the successor to Nick Beighton. The choice of
The high street retailer WH Smith has been plunged into a major pay row with investors amid heightened tensions over boardroom rewards as Britain grapples with a deepening crisis over pressure on household bills. Sky News has learnt that three of the main proxy advisers which issue guidance to City shareholders ahead of annual meetings
Lord John Sainsbury of Preston Candover – the former chairman of the supermarket chain – has died aged 94. The supermarket’s current chairman and chief executive announced the death of the Baron on Friday evening, saying he had lived a “remarkable life”. Martin Scicluna said: “We are all deeply saddened to learn of the death
SA Brain, one of Wales’s most prominent brewers, is to sell the freeholds to scores of its pubs to a consortium that includes a global private equity powerhouse – the latest in a string of significant deals in the sector. Sky News has learnt that Brains is close to agreeing a deal to offload approximately
Customers can expect to pay more for electrical and tech goods in 2022 with price increases “inevitable”, the boss of Currys has told Sky News. Speaking to Ian King Live, group chief executive Alex Baldock pointed to rising costs ranging from components and transport through to wages. However, he said the electrical retail giant would
Britain’s economy grew stronger than expected in November before the Omicron variant struck, bouncing back for the first time above pre-pandemic levels. The Office for National Statistics (ONS) said gross domestic product (GDP) had risen 0.9% during the month, up from a just 0.1% rise in October. Analysts had predicted a 0.4% rise in November.
An estimated 3% of the UK workforce was off work in late December while a fifth of businesses reported increased cancellations over the past month amid the surge in the Omicron variant, according to data released by the Office for National Statistics (ONS). The number-crunchers reported that 21% of firms had seen a rise in
The UK’s largest supermarket chain has reported a strong Christmas for sales in the face of “growing cost pressures and supply chain challenges”. Tesco reported a 2.7% rise in like-for-like sales for its core UK and Ireland grocery business during the six weeks to 8 January compared to the same period last year. It raised
Ovo Energy, the UK’s third-biggest gas and electricity supplier, is to cut a quarter of its workforce as part of a restructuring aimed at saving costs amid the deepening industry crisis. Sky News has learnt that Ovo could announce details of its plans as soon as Thursday, with roughly 1,700 out of 6,200 roles expected
One of the biggest names in UK retail has raised its annual profit expectations despite a fall in sales during its core Christmas trading period. Sainsbury’s, the UK’s second-largest supermarket chain by market share, reported grocery-led sales growth for the festive season covering the six weeks to 8 January when compared to the same pre-pandemic
The World Bank has warned of a “pronounced slowdown” in global growth as threats from new COVID-19 variants and cost of living pressures bite. It also pointed to the risks of debt and income inequality as it stressed in particular the risk to emerging and developing economies. The warning came as separate figures showed inflation
Heathrow Airport has called for all coronavirus testing to be dropped for fully-vaccinated people while revealing that “at least” 600,000 passengers cancelled flights during the key holiday month of December. The UK’s largest airport said “swiftly imposed” action during the month to tackle the Omicron variant in the run-up to the festive season prompted uncertainty
A residential energy supplier part-owned by a Cheshire local authority is lining up administrators amid suggestions that it could collapse as soon as this week. Sky News has learnt that Together Energy, which serves about 170,000 homes, is preparing to call in insolvency practitioners from FRP Advisory, the London-listed restructuring firm. One energy industry executive
Aldi says it enjoyed a record Christmas with sales boosted by “half a million new shoppers in December” as the wider grocery sector gears up for a tougher year as household budgets are squeezed by surging inflation. The UK’s fifth-largest supermarket chain said sales in December rose by 0.4% compared to the previous year, when
WH Smith has kicked off a search for a new chairman as the high street and travel hub-focused retailer continues to grapple with the impact of the pandemic. Sky News understands that headhunters advising the chain have begun approaching prospective replacements for Henry Staunton, who has chaired the business since 2013. Mr Staunton, a former
The British company which has orchestrated a torrent of retail share placings for cash-strapped companies during the pandemic is in advanced talks to sell a big stake to the world’s largest technology investor. Sky News has learnt that PrimaryBid is close to finalising the details of a $150m (£110m) funding round that will be led
Eyewitness: Remembering a job done By James Matthews, Scotland correspondent Hunterston is a human story too. It showed in the gathering of around a dozen former employees who lined the approach road to watch this nuclear power station, their station, breathe its last. The 40-second rapid release of steam into the cold January air was