Business

As many as one-in-four UK households receive energy from providers that could face collapse as a consequence of soaring gas prices, industry sources have warned. A 250% increase in prices has exposed providers whose wholesale supplies are not “hedged” or insured against market fluctuations, meaning they can now only fulfil supply deals with customers at

More than a dozen of Britain’s smaller energy suppliers have accused their industry regulator of being “unfit” to oversee the deepening crisis that has left many of them facing imminent collapse. Sky News has seen a letter from 15 suppliers – including a number which have already succumbed to soaring wholesale prices – urging Prime

UK energy company Bulb is seeking a bailout to stay afloat amid surging wholesale gas prices with Boris Johnson insisting the issues facing the industry are global. A Bulb spokesperson said: “From time to time we explore various opportunities to fund our business plans and further our mission to lower bills and lower CO2. “Like

A shortage of carbon dioxide (CO2) gas means Christmas dinners could be cancelled, the owner of the UK’s biggest poultry supplier has said. A steep rise in gas prices has caused two large fertiliser plants in Teesside and Cheshire which produce CO2 as a by-product to shut, hitting supply to the food industry. Ranjit Singh

Gas supply this winter is “not a cause for immediate concern”, the UK’s business secretary has reassured, following reports that a spike in prices could threaten food production and other industries. Kwasi Kwarteng posted a series of tweets after holding meetings with senior executives from the energy industry to discuss the impact of high global

Lord Hammond, the former chancellor, is helping to assemble a £300m takeover bid for Amey, the outsourcer that ranks among the UK government’s biggest private sector contractors. Sky News has learnt that Buckthorn, a private investment firm which Lord Hammond joined as a partner early last year, has submitted an offer for Amey as part

A major relaxing of travel rules for people coming in and out of England have been announced by the transport secretary. From 4 October, the current traffic light system of red, amber and green countries will be scrapped and replaced with one red list only. Travel traffic light system scrapped – follow live updates Anywhere

Retail sales fell unexpectedly last month partly thanks to shoppers spending more money eating out than in supermarkets, official figures show. The 0.9% decline in sales volumes in August followed a downwardly-revised slump of 2.8% in July, according to the Office for National Statistics (ONS) – and was the fourth month in a row of

England’s 20 top-flight football club owners will be required to sign a nine-point plan designed to maintain the competition’s integrity in a bid to avert any future breakaway threat. Sky News has learnt that Premier League clubs were on Thursday sent a final draft of a new “Owners’ Charter” that their controlling shareholders will be

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