Business

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

Petrol retailers hoping for a return to normal after motorists drained pumps over the weekend have faced yet more forecourt queues – as parts of the economy started to feel the strain. In some areas, up to 90% of pumps ran dry, according to industry estimates – and there was little sign of the panic-buying

Aldi has revealed plans to create 2,000 jobs over the next two years as it reported a dip in annual profits partly blamed on the pandemic. The German-owned discount supermarket said it would invest £1.3bn, adding 100 new stores and a logistics centre in Leicestershire, as it aims to ramp up further its share of

A British technology company which enabled ordinary investors to access a deluge of corporate cash calls during the COVID-19 crisis will this week name one of the City’s biggest heavyweights as its first chairman. Sky News has learnt that PrimaryBid has recruited Sir Donald Brydon to fill the role, in what will be regarded as

Panicked motorists have caused lengthy queues at petrol stations and caused some pumps to run dry – the latest consequence of a shortage of HGV drivers which is causing widespread disruption in the UK. The government insists the country has “ample fuel stocks” but it has not stopped long lines of cars forming after some

Octopus Energy is exploring a move to take control of Bulb, its rival challenger brand, amid the crisis in Britain’s residential energy market that has triggered a swathe of corporate casualties. Sky News has learnt that Octopus Energy is among the parties which have requested access to a data room set up by Bulb’s financial

Downing Street is on the brink of a U-turn which will allow overseas HGV drivers to plug the gaps causing emergency shortages, Sky News understands. Ministers met earlier for urgent talks on how to address the shortage – which one industry body estimated at more than 100,000 drivers – but No 10 has not yet