Business

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

Households are being urged to protect themselves from a surge in energy costs ahead of winter as a fire at a crucial power installation adds to growing worries about affordability in the months ahead. The blaze took out an electricity interconnector on the Kent coast – one of only two – which allows power to

Inflation rose to 3.2% last month from 2% in July – its largest ever recorded increase – the Office for National Statistics (ONS) said. The consumer prices index (CPI) measure of inflation for August was the highest since March 2012 – though the ONS said much of the effect was likely to be temporary. That

Ministers have drafted in a Wall Street banking behemoth to advise on the future of Channel 4 amid a growing battle over the public service broadcaster’s prospective privatisation. Sky News has learnt that Oliver Dowden, the culture secretary, has approved the appointment of JP Morgan to provide corporate finance advice on Channel 4’s remit, ownership

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

It is “not in the hands” of ministers to guarantee there will be enough lorries on the roads to deliver presents on time this Christmas, the transport secretary has told MPs. Grant Shapps made the comment as he faced questions in the House of Commons about the HGV staff shortage. He was asked by Labour

Primark has revealed it suffered a “pingdemic” sales slump over the summer – and is now facing supply chain delays for its autumn and winter stock. The cut-price fashion retailer’s UK like-for-like sales were down by 24% compared to last year over a four-week period from mid-June though they have partly recovered since self-isolation rules

One of Britain’s oldest bicycle manufacturers is being put up for sale amid a continuing surge in consumer interest in cycling. Sky News has learnt that the owners of Ribble, which was founded in 1897, have appointed advisers to prepare the company for an auction in the coming months. Stifel, the investment bank, has been

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

Shoppers face permanent food shortages with the days of being able to get almost any item off the supermarket shelf over, a trade body chief has warned. While this did not mean people would having nothing to eat, Ian Wright, the chief executive of the Food and Drink Federation, said he believed the time 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%

EasyJet has revealed that it rejected an unsolicited takeover approach while again moving to shore up its finances as it looks to recover from coronavirus disruption. The low-cost airline said the all-share approach – understood to have come from Wizz Air though that was not confirmed by either party – fundamentally undervalued the business. EasyJet

Morrisons has warned it expects “industry-wide” price rises ahead and revealed some product shortages while reporting half-year results showing a 43% slump in profits. The UK’s fourth-largest supermarket chain by market share said the price hikes were to be “driven by sustained recent commodity price increases and freight inflation, and the current shortage of HGV

JD Sports Fashion is weighing an investment in MIssguided, the online women’s fashion sensation, that could involve an outright takeover of the business. Sky News has learnt that JD Sports is among a number of parties in discussions with Missguided’s founder Nitin Passi and the company’s advisers. City sources said that the talks between the

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.

Sir Martin Sorrell’s construction of a second global marketing services empire will take another step forward on Wednesday with the acquisition of a Los Angeles-based agency serving clients including Adidas, BMW and Google. Sky News understands that S4 Capital will announce to the London Stock Exchange that it has agreed a merger between Cashmere and

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

Full post-Brexit checks on goods moving from Great Britain to Northern Ireland will still not be applied as a truce holds between the UK and EU. Brexit minister Lord Frost has announced the UK’s intent to continue to apply post-Brexit arrangements for Northern Ireland “on the current basis”. This is in order to allow talks