Business

Business secretary Kwasi Kwarteng will hold fresh talks with energy companies this week as the government narrows its options for insulating consumers from a forecast 50% increase in bills. that campaigners claim would plunge up to six million households into fuel poverty. Campaigners claim up to six million households could be plunged into fuel poverty.

Amazon has announced that it will not stop accepting Visa credit cards for UK payments later this week as had been planned. In an email to customers, the online retailer said it was “working closely with Visa on a potential solution”. The move had been due to take effect on 19 January with Amazon blaming

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

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.

Facebook in the UK is being sued for billions of pounds amid claims more than 44 million users had their data exploited. Competition law expert Dr Liza Lovdahl Gormsen has launched the class-action lawsuit against Facebook’s parent firm, Meta, at the Competition Appeal Tribunal, accusing the technology giant of abusing its market dominance, and seeking

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

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

Former directors of Thomas Cook, one of Britain’s biggest travel companies, are to be formally cleared of wrongdoing by the government’s bankruptcy watchdog after a probe lasting more than two years. Sky News has learnt that the Insolvency Service has concluded its investigation into the collapse of Thomas Cook, which was forced into compulsory liquidation

UK households have experienced the biggest slump in their financial wellbeing as a surge in the cost of living takes its toll, a new survey suggests. A quarterly household finance index compiled by Scottish Widows fell to 40.1 in the final quarter of last year, down from 44.0 in the third quarter. It was the

Two of the world’s biggest buyout firms have joined forces to pursue a multibillion pound takeover of Boots, Britain’s largest high street chain of chemists. Sky News has learnt that Bain Capital and CVC Capital Partners are assembling a joint bid for the retail behemoth, which trades from more than 2000 stores and employs over

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

The chief executive of Rolls-Royce Motor Cars (RRMC) has told Sky News the company expects to continue to be immune from the global shortage of semiconductors holding back the wider car industry. Torsten Müller-Ötvös was speaking after the BMW-owned but Goodwood-based luxury marque revealed a record set of annual sales figures for 2021 – the

With lots of focus on the current cost of living crisis, new data for Sky News reveals which professions have been most affected. UK wage data from hiring website Indeed shows that only a few jobs have experienced wage increases far higher than inflation since the start of the pandemic. Those with the highest pay

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

The US jobs recovery stalled at the end of last year even as official figures confirmed annual record growth in employment numbers. Closely-watched data from America’s bureau of labour statistics (BLS) showed the world’s biggest economy added 199,000 jobs in December – well short of the 400,000 figure pencilled in by forecasters. Experts said a