Business

An American firm has revealed a halt to production at two UK factories because of the surge in the cost of gas, a scenario threatening a wider impact across the economy in the months to come. Fertiliser producer CF Industries said its manufacturing facilities at Billingham on Teesside and Ince in Cheshire would be shut

Marks and Spencer is to close 11 stores in France blaming “lengthy and complex export processes” affecting fresh and chilled products following Brexit. The retailer said the outlets operated with franchise partner SFH, mainly located in Paris high streets, were expected to shut by the end of 2021. It said nine other stores operated with

The owner of John Lewis and Waitrose has said it has chartered extra ships to help navigate the distribution disruption being seen across the industry in the run up to the crucial Christmas season. John Lewis Partnership (JLP) became the latest business to highlight the impact of supply chain problems and worker shortages being experienced

The energy watchdog has moved to reassure customers of two failed household suppliers as wholesale prices hit record levels, threatening a leap in bills in and after the winter months ahead. Ofgem said the demise of Utility Point – first reported by Sky News – and People’s Energy meant their respective customer bases, totalling more

The number of employees on UK payrolls recovered to pre-pandemic levels last month, the Office for National Statistics (ONS) said. A rise of 241,000 in August took the total number to 29.1 million, around the same level as in February 2020. The ONS also said the number of job vacancies in the June-August period climbed

Two-thirds of travel sector employers with staff still on the furlough scheme are planning redundancies once the wage support is removed at the end of the month, the travel association ABTA has warned. The body said a survey of its membership showed that 69% of employers planned to let staff go after 30 September. It

Boris Johnson is being urged to “level up” Britain by backing pay rises for workers, scrapping his proposed cut in Universal Credit and tackling child poverty. The challenge comes from TUC leader Frances O’Grady in a call to the government to protect workers from further pandemics, climate change and the tech revolution. In her TUC

Up to 660,000 jobs – many in the UK’s industrial heartlands – are at risk unless Boris Johnson speeds up green investment and moving to “net zero” carbon dioxide emissions, according to a major study. Many of the areas where jobs are most under threat include the “red wall” constituencies won by the Conservatives from

The former auditor of Patisserie Valerie is facing a multimillion pound fine nearly three years after the cafe chain collapsed in one of Britain’s biggest recent accounting scandals. Sky News has learnt that Grant Thornton is in advanced discussions with the Financial Reporting Council (FRC) about a settlement that could be finalised as soon as

HGV driving tests will be relaxed to allow 50,000 more to be taken in an attempt to tackle the shortage of lorry drivers ahead of Christmas, the transport secretary has announced. Grant Shapps said that following a consultation, three changes will happen to speed up the process after the suspension of tests during the pandemic

Economic recovery from COVID-19 is not going to be as simple as lifting the restrictions that plunged most of the world into a deep, brief, recession in the first place. That is the message from the latest UK GDP figures which showed the recovery stalled in July with growth registering just 0.1%. This stagnation of

Coronavirus measures that forced scores of workers to self-isolate contributed to a bigger than expected slowdown in economic growth in July, according to the UK’s largest business lobby group. The CBI issued its verdict after the Office for National Statistics (ONS) charted a rise in output of just 0.1% over the month following a 1%

Britain’s economic recovery is expected to slow over coming months thanks to staff shortages and supply chain disruption, according to a new forecast from a leading business group. Official figures show UK GDP grew by 4.8% in the second quarter but the British Chambers of Commerce (BCC) predicts this will slow to 2.8% in the

Ministers agreed to bow to pressure from Australia to drop binding commitments to the Paris climate change agreement from the UK-Australian trade deal, a leaked government email obtained by Sky News has revealed. Liz Truss, the trade secretary, and Kwasi Kwarteng, the business secretary, decided the government could “drop both of the climate asks” from

Halfords has become the latest big name company to report a hit to sales from supply chain disruption, warning its struggles may take time to overcome. The bikes-to-car parts and servicing retailer said like-for-like cycling sales were down by almost 23% in the 20 weeks to 20 August compared to the same period last year.

Boris Johnson is expected to raise national insurance by about 1.2% to pay for a pledge to end the “catastrophic costs” of social care – but Vaccines Minister Nadhim Zahawi says it would be “arrogant” to suggest the problems can definitely be fixed. Tory MPs claim the move amounts to a £10bn tax raid. Mr

The Treasury risks becoming engulfed in a fresh lobbying row after one of its top civil servants quit to take an executive post at Barclays. Sky News has learned that Katharine Braddick has tendered her resignation as the Treasury’s director-general for financial services – a job she has held since 2016. A senior banking industry

Luke Johnson, one of Britain’s best-known leisure entrepreneurs, is adding to his collection of e-commerce businesses by snapping up a leading online retailer of musical instruments. Sky News understands that Risk Capital Partners, Mr Johnson’s investment vehicle, has agreed to buy GAK, which trades from a flagship store in Brighton, West Sussex. The terms of

Almost 50 stores per day closed down across the UK during the first half of the year, research suggests. Some 8,739 outlets went out of business across high streets, retail parks and shopping centres between January and June, figures from the Local Data Company suggest. But 3,488 opened during the same period, resulting a net

Manchester United Football Club is closing in on the appointment of an internal successor to Ed Woodward, its long-standing boss. Sky News has learnt that the club’s New York-listed parent company could announce within weeks that Richard Arnold, Manchester United’s group managing director, will take over from Mr Woodward. One insider said that a statement