A former boss of Gucci is being lined up by Carlyle, the global buyout giant, to fashion a fresh growth spurt at End, the British online clothing business it bought this year. Sky News understands that Patrizio di Marco, who left Gucci in 2014 and subsequently had a spell with Dolce & Gabbana, another famed
Business
The backlog of cargo ships at the busiest port complex in the US – images of which have come to define the global supply chain crisis – is unlikely to return to normal before next summer. The executive director of the Port of Long Beach in California says plans to switch to 24/7 operations, pushed
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.
Job adverts have soared by over 600,000 since late August to a new record high, according to the latest figures released. The number of vacancies in the UK is currently sky-high, a sign that the labour market is yet to fully recover following the worst of the COVID-19 pandemic. Between 4 and 10 October there
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
Britain should prioritise economic growth over environmental protections in trade deals, according to a leaked government document obtained by Sky News. Environmental safeguards should also not be treated as a red line when other countries demand they are broken in trade agreements, according to the paper drawn up by officials in the Department for International
The demise of two more energy companies has been confirmed as the surge in wholesale gas costs this year drives up bills for providers and households alike. Sky News had revealed on Tuesday that up to four suppliers were in talks with the regulator about entering its Supplier of Last Resort (SOLR) mechanism. Pure Planet
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
There are almost 10,000 fewer licensed premises across Britain since the start of the coronavirus pandemic – with a rush of closures taking place since the summer despite a reopening of the economy, according to a report. The latest market recovery monitor from industry consultants CGA and business advisory firm AlixPartners said the sector, including
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
Britain’s main carbon dioxide producer is to hike its prices under a government-brokered deal to keep supplies to key industries going without taxpayer subsidies. Ministers stepped in last month after a surge in natural gas prices prompted US-owned CF Industries to shut down fertiliser plants that also make 60% of Britain’s CO2 – a key
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
A £50m cash injection will enable Liberty Steel to restart production in Rotherham, saving hundreds of jobs. The investment is part of a wider restructuring of Liberty’s owner, GFG Alliance, also involving Liberty Primary Metals Australia. GFG was forced to seek new funding when its key lender, Greensill Capital, collapsed. The plant in Rotherham has
Business Secretary Kwasi Kwarteng has told Sky News that the price cap on consumers’ energy bills “will not be moved” this winter and he is “convinced” that the UK won’t suffer gas shortages in the coming months. Speaking to the Trevor Phillips On Sunday show, Mr Kwarteng said he was “convinced we will have full
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
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
Financial markets face a sharp downturn if investors rethink the prospects of economic recovery from COVID-19 amid supply problems, rising prices and a spending squeeze, the Bank of England has warned. The central bank’s financial policy committee (FPC) cautioned over a so-called correction, which is defined as a drop of at least 10% in the
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