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
Business
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
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
The gap between electricity supply and demand is expected to be narrower this winter than last as the country battles an energy crunch but there should be no disruption from the lights or gas flames going out, according to key industry reports. System operator National Grid released eagerly awaited forecasts covering both gas and electricity
The price of natural gas is soaring – and both equity and bond markets are again fretting about surging inflation. The cost of wholesale gas for next-day delivery in the UK today hit an all-time high of £3.55 per therm (one therm is equal to 100 cubic feet of natural gas), a rise of 27%,
Wholesale gas costs reached new uncharted territory on Wednesday as financial markets fret over the impact of inflation on the global recovery from the coronavirus crisis. The gas contract for next-day delivery in the UK breached £3/therm for the first time on Wednesday morning and was as high as £3.20 at one stage. Market experts
Just 127 of the 300 visas issued for international HGV drivers to come to the UK have been granted, Boris Johnson has admitted. The prime minister argued supply chain problems have been caused “very largely by the strength of the economic recovery”. He told BBC Breakfast: “What we said to the road haulage industry was
There are nearly 1,800 more streets across Britain where the average home is valued at more than £1m compared with a year ago, new figures have shown. Some 11,673 streets in September 2021 had an average property price into seven figures, which was 1,782 more than the 9,891 last September, according to property firm Zoopla.
Chancellor Rishi Sunak is set to announce a £500m expansion of government action to tackle unemployment and support job seekers following the end of the furlough scheme. In a speech at the Conservative Party conference in Manchester on Monday, Mr Sunak will outline fresh funding for schemes designed to increase the chances of employment for
A British logistics start-up backed by the Amazon founder Jeff Bezos and other titans of the technology world is raising tens of millions of pounds to help it satisfy booming demand for its services. Sky News has learnt that Beacon, which helps companies to manage their supply chains more efficiently, has sealed a $50m (£37m)
The restaurant empire founded by Sir Terence Conran is to change hands for the first time in nearly a decade after its owners entered exclusive talks with a little-known private equity investor. Sky News has learnt that D&D, which owns prominent London restaurants such as the Bluebird in Chelsea, Coq d’Argent in the heart of
Sir Keir Starmer has called on the government to take “emergency action to get a grip” on the HGV driver shortage causing fuel and food shortages. The Labour leader said the prime minister needs to deploy the 150 army drivers that are on standby now to petrol stations across the UK after an independent fuel
Some 400,000 more lorry drivers are needed to plug a shortfall across Europe, according to consultancy Transport Intelligence. The same estimates suggest that Poland needs at least 120,000 drivers, while Germany and France also have a shortage of more than 40,000 each. The industry estimates that the UK needs 100,000 drivers to partly alleviate supply
About 120,000 pigs could be culled and their carcasses dumped because of a shortage of butchers, the industry has warned. A workforce shortfall has meant farms are running out of space to keep the animals that should already have gone for meat, raising welfare concerns. While the sector had previously warned of the problems faced,
Pre-departure tests for anyone travelling to the UK are being reintroduced as the government continues to gather information on the new Omicron COVID variant. The move coincides with Nigeria being placed on the red travel list – and represents the biggest change to the UK’s travel rules in quite some time. What’s the latest? All
A 12% rise in the energy price cap has taken effect amid warnings further increases are inevitable in the months ahead as wholesale costs surge in a time of “chaos” for the wider economy. Labour, which has claimed a “winter of discontent” looms, accused the government of complacency over “the fuel crisis, energy costs crisis,
Energy firm Igloo, along with two others, have confirmed they are ceasing to trade as the record surge in wholesale energy costs continue to take their toll on small suppliers. Industry regulator Ofgem said the customers of Igloo, Symbio Energy and ENSTROGA would be sheltered through the appointment of a new supplier in due course.
Retailer Next has called for the government to take a “more decisive” approach as it warned a lack of foreign workers could hamper Christmas shopping deliveries. The business, led by Conservative peer Lord Wolfson, suggested that after the “widely predicted” HGV driver shortage crisis it should act to avert further looming problems in areas such
The first “very tentative signs of stabilisation” are being seen on petrol forecourts, the transport secretary has said, following days of long queues and closed pumps at some filling stations across the country. Grant Shapps said the sooner people returned to their normal habits and stopped panic buying petrol and diesel, the sooner the fuel