Business

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

A leading business lobby group has warned the government that the crisis resulting from the shortage of workers in key jobs could take up to two years to resolve, damaging the economic recovery from the coronavirus pandemic. The CBI said the impact was widespread – beyond the well-publicised 100,000 shortfall in HGV drivers which has

Luke Johnson, one of Britain’s best-known leisure entrepreneurs, is adding to his collection of e-commerce businesses by snapping up a leading online retailer of musical instruments. Sky News understands that Risk Capital Partners, Mr Johnson’s investment vehicle, has agreed to buy GAK, which trades from a flagship store in Brighton, West Sussex. The terms of

Street markets and pub marquees could become permanent features for the hospitality industry, under an extension of the pandemic regulations planned by the government. Additional seating for cafes and restaurants would also be part of a new government consultation, with hospitality venues forced to increase outdoor capacity earlier in the year in an effort to

Manchester United Football Club is closing in on the appointment of an internal successor to Ed Woodward, its long-standing boss. Sky News has learnt that the club’s New York-listed parent company could announce within weeks that Richard Arnold, Manchester United’s group managing director, will take over from Mr Woodward. One insider said that a statement

The US added far fewer new jobs this past month than anticipated, as a resurgent COVID-19 fuelled by the more transmissible Delta variant strikes hard across less vaccinated states. According to data published on Friday, American employers added 235,000 jobs in August, well short of the 728,000 expected by economists – and down from just

Retail giant Ikea says at least 1,000 of its product lines have been disrupted by the shortage of lorry drivers. It is the latest company to be caught up in the supply chain chaos currently affecting the UK. The firm said in a statement that a “perfect storm of issues, including the disruption of global

Price rises for consumers are “inevitable” as a consequence of the HGV driver shortage, the boss of Iceland has warned. Almost 50,000 drivers have left the road in the last two years, leaving retailers, suppliers, and hauliers competing for a diminished pool to supply clients. The scramble for supplies has led to sharp increases in

The recruitment industry has warned that the end of the furlough scheme this month is unlikely to put much of a dent in the UK’s record number of job vacancies, in the short term at least. The latest jobs recovery tracker from the Recruitment and Employment Confederation (REC) showed there were 1.66 million jobs on

JD Sports has been told its takeover of rival Footasylum still faces being blocked – even after it successfully challenged an earlier ruling against it by the competition regulator. The retailer’s boss Peter Cowgill said he was “perplexed and disappointed” after the Competition and Markets Authority (CMA) again found that it should sell the smaller

Wetherspoons has become the latest well-known business to experience supply shortages, with some of its beers not available. A spokesman said the pub chain’s supply problems with Carling and Coors were the knock-on effect from industrial action by delivery drivers working for another brewer, and apologised to customers. It is the latest company to be

House prices staged a surprise surge in August despite the winding down of Britain’s stamp duty holiday, according to new figures. Prices rose by 2.1% over the month after growth had slowed to 0.6% in July, a report from lender Nationwide showed. Year-on-year growth climbed to 11% and prices are now around 13% higher than

Rising wages and huge demand for HGV drivers has led to unprecedented numbers of people seeking training for licences, according to Britain’s largest private driver training company. Hughes Driver Training, based in Leicestershire, told Sky News it’s sending around 100 for HGV Class I and II testing per week, including many sent directly by haulage

The last country in the world to use leaded petrol has stopped selling the highly toxic fuel, bringing an end of its use in cars, the United Nations (UN) environment office said on Monday. Algeria halted the sale of leaded petrol last month and the UN Environment Agency declared the “official end” of its use,

The Chinese government has banned under-18s from playing online games for more than an hour a day, and then only between 8pm and 9pm on Friday, Saturday, Sunday and public holidays. The ban will be enforced by online gaming companies which are now required to strictly enforce rules requiring users to register accounts with their