Business

Matthew Moulding, the boss of the online beauty, nutrition and technology services group THG, is to surrender his golden share in the company in an attempt to restore the City’s confidence after a torrid fortnight. Sky News has learnt that the owner of The Hut Group, which floated just over a year ago, will announce

If the trainee truckers the haulage industry so desperately needs could change direction as fast and frequently as government ministers they would sail through the HGV test. The latest U-turn, executed to address the supply chain crisis, comes from the Department for Transport, and even by the standards of recent weeks it is a screecher.

The FTSE 100 has hit a new post-pandemic high as rising oil and banking stocks helped it shrug off supply chain and inflation worries. London’s leading share index ticked up to 7242.7 points in early trading on Friday, taking it above a previous peak in August to hit the highest level since February 2020. It

Boots enjoyed a bumper year thanks to booming sales of COVID-19 tests, according to its latest company results – despite footfall levels on the high street still being weaker than they were before the pandemic. In the 12 months between August 2020 and August 2021, sales topped £34bn at parent company Walgreens Boots Alliance (WBA).

The government wants to change how frequently overseas HGV operators can deliver in the UK to help solve the current supply chain problems. A consultation on extending “cabotage” rights will be launched on Friday to try to shore up supply chains and prevent shops running out of goods or increasing prices due to an HGV

The government is expected to back down today in a row over visas for foreign butchers to prevent a mass cull of British pigs. A shortage of butchers at industrial slaughterhouses has left farmers with too many pigs on their farms, leading to warnings that 10,000 pigs a week could have to be destroyed. It

The EU has offered to cut 80% of checks on some goods moving from Great Britain to Northern Ireland in an effort to avoid a post-Brexit trade clash. It has drawn up plans designed to ease the flow of items across the Irish Sea, including chilled meats, to put an end to the so-called “sausage

UK economic growth picked up in August as bars, restaurants and festivals benefited from a first full month without COVID restrictions in England, official figures show. Gross domestic product (GDP) increased by 0.4% month-on-month, according to the Office for National Statistics (ONS) – slightly below experts’ average forecast of 0.5% growth. However the report also

Ofgem, the energy regulator, is braced for a fresh wave of supplier collapses this week as the crisis engulfing the industry continues to accelerate. Sky News understands that at least four suppliers were in talks with Ofgem on Tuesday about entering its Supplier of Last Resort (SOLR) system in a development expected to add several

The number of job vacancies hit a record high of 1.1 million in the three months to September, as the post-pandemic labour market continued to recover. The Office for National Statistics said the number of job vacancies increased by 318,000, with all industry sectors above or equal to the levels seen between January to March

Big Ideas live will explore the challenges facing the economy as we come out of the pandemic. It will look at how business can fire up the UK, but also at the challenges they face in doing so. What are the jobs which will be created, post pandemic, and where in the country? And with

Online fashion retailer ASOS has warned profits could fall by as much as 40% as it counts the cost of supply chain strains and Brexit duties – and said it was parting company with its boss. Shares plunged as much as 15% in early trading as the group pencilled in slowing sales growth ahead, after

A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale prices. A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale

The business secretary has vowed to keep energy prices capped this winter despite soaring wholesale prices to shield millions of consumers from price hikes this Christmas. Kwasi Kwarteng said keeping the cap in place is “non-negotiable” and did not set out any additional support for struggling businesses after some company bosses and some Tory MPs

A pig farmer who fears he may have to destroy 80 animals a week due to a shortage of butchers says the army may need to be called in to help. Stephen Thompson, who keeps 2,000 pigs at Povey Farm in Norton, Derbyshire, described the situation facing the industry as “the biggest waste and mess

Amber Rudd, the former cabinet minister, is joining a new special purpose acquisition company (SPAC) that will float in London and target a merger in the renewable energy sector. Sky News has learnt that Ms Rudd, who served as secretary of state for energy and climate change between May 2015 and July 2016, is to

Boris Johnson has appointed the former boss of Tesco as an expert supply chain adviser. Sir David Lewis, former chief executive of the supermarket giant, will assist both the prime minister and newly appointed Chancellor of the Duchy of Lancaster Stephen Barclay on both immediate improvements and any necessary long-term changes to UK supply chains

Royal Mail has launched a drive to take on more than 20,000 seasonal workers – just as new figures illustrate how employers are struggling to fill roles. Temporary staff are needed to sort high volumes of parcels, Christmas cards and letters for Royal Mail and its Parcelforce Worldwide arm from late October through to early

Firms are increasingly putting up prices as they pass on soaring costs, according to new figures that are likely to add to fears of a squeeze on household budgets. Data from the Office for National Statistics (ONS) found 10% of businesses increased their prices in early September, up from 8% in mid-August and 4% in

The gap between electricity supply and demand is expected to be narrower this winter than last as the country battles an energy crunch but there should be no disruption from the lights or gas flames going out, according to key industry reports. System operator National Grid released eagerly awaited forecasts covering both gas and electricity