Retail suffered a washout last month as the end of the Euro 2020 tournament combined with wet weather were blamed for a sharp fall in sales. Experts also pointed to the likely impact of rising COVID-19 case numbers prompting people to self-isolate as well as the global chip shortages holding back computer and phone supply.
Business
A leading cleaning products maker has warned of a profits slump as it counts the cost of higher raw material costs and HGV driver shortages. UK-based McBride, which makes own-label goods from detergents to dishwasher tablets on behalf of retailers, said it was starting to see “distribution challenges” – particularly in the UK and Germany.
Nando’s says it plans to have all its restaurants open again from Saturday after supply chain disruption forced 45 sites to close. The peri-peri chicken brand, which operates around 400 outlets across the country, has also “hit pause on delivery for now” according to a message on its website. It is the latest household name
The July inflation measure normally used to set the following year’s rail fare increases has been recorded at 3.8% – the highest for ten years. Figures published by the Office for National Statistics (ONS) showed the retail prices index (RPI) measure of inflation slipped back compared to June’s 3.9%. But it was the highest reading
The number of job vacancies has topped 1 million for the first time ever as the economy recovers from the pandemic, the Office for National Statistics (ONS) said. Figures published by the ONS also showed the number of employees on payrolls rose by 182,000 last month – though was still 201,000 below pre-crisis levels. Meanwhile
Military technology supplier Ultra Electronics faces a potential disposal of part of the business after agreeing to a £2.57bn takeover by US-owned defence group Cobham – a deal being closely scrutinised by the government. Cobham said it would seek to agree legally-binding commitments with the government to safeguard UK national security and jobs as part
Ticket re-sale sites such as viagogo and Stubhub should face a tough new licensing regime which could see companies that break the rules shut down, the UK competition watchdog has said. The Competition and Markets Authority (CMA) said it had taken strong action in recent years to protect customers but there was a limit to
The way “green” electricity tariffs are sold to millions of households is to be reviewed by the government amid concerns that their environmental benefits could be overstated. Energy companies are able to market deals in this way even if some of the energy they supply comes from fossil fuels – because they offset this by
Asda and National Express are among a number of firms set to offer rewards to young people getting a COVID jab. Free Now taxis, lastminute.com and Better leisure centres will also offer incentives for those booking in for a vaccine. Uber, Bolt and Deliveroo have already said they will offer discounted rides and meals for
India is set to spend 100trn rupees (£972bn) on a national infrastructure plan to boost economic growth and help the country meet its climate goals. Speaking as part of Independence Day celebrations in Delhi, Prime Minister Narendra Modi said the programme will “create job opportunities for hundreds of thousands of young people”. “It will help
Some of the world’s biggest oil companies are currently paying negative tax on their fossil fuel extraction and production operations in the North Sea. Official data published by the UK government-backed Extractive Industries Transparency Initiative shows that in the tax year 2019-20, ExxonMobil received £117m in total from HMRC, Shell got £110m, and BP received
Gatwick Airport has accused the government of failing to take advantage of the UK’s “world-leading” coronavirus vaccination programme while revealing “very low” passenger numbers. The UK’s second-largest airport said it handled just 569,000 people during the first six months of 2021 and made a loss of almost £245m over the period despite operating costs being
The UK economy grew by 4.8% in the second quarter of the year, according to official figures charting the fightback from the last lockdowns imposed on households and businesses to tackle the coronavirus crisis. The data from the Office for National Statistics (ONS) had been expected to show a hit in the final month as
The John Lewis Partnership says it is to create 500 new jobs as it takes control of a massive distribution centre to meet an expansion in online sales. The owner of the John Lewis department store chain and Waitrose supermarkets said it had signed an agreement with Tesco to lease a one million sq ft
The battle for British pharmaceutical firm Vectura will not go to auction, after one of the two hopefuls said at the last minute that it would not increase its bid. US private equity firm Carlyle had made the first move for the Wiltshire-based FTSE 250-listed firm, which makes inhaled medicines and devices to treat respiratory
A top figure in the haulage industry has told Sky News that deploying army personnel to help tackle the HGV driver shortage “will not scratch the surface” of the UK’s delivery crisis. A Government spokesperson said: “The recent pandemic has proven that the UK has a large, diverse and highly resilient food supply chain that
A shortage of new models has helped drive a near-record leap in sales of used cars, according to industry figures. The Society of Motor Manufacturers and Traders (SMMT) reported that 2,167,504 vehicles changed hands during the second quarter of the year – up 6.6% on 2019 pre-pandemic levels. The body said it was the best
One of Britain’s biggest convenience store groups is plotting a £30m cash call to accelerate the expansion of its partnership with Morrisons, the supermarket giant. Sky News has learnt that McColl’s Retail Group has approached institutional investors about a placing to raise almost as much as its existing £40m market capitalisation. McColl’s could be forced
Sir Richard Branson’s Virgin Atlantic Airways is plotting a surprise flotation on the London Stock Exchange as it pins its hopes on a rapid rebound in transatlantic travel. Sky News has learnt that Virgin Atlantic has been holding talks with institutional investors about making its public market debut just five months after landing a fresh
Jobs growth in the US exceeded expectations last month while unemployment fell in a further sign the economy continues to bounce back from the turmoil of the coronavirus pandemic. So-called nonfarm payrolls increased by 943,000 in July, official employment figures showed, which was above the 860,000 forecasted by economists. Hotels and restaurants reopening for business