Business

Ocado said it has “moved certain retail prices” to reflect soaring costs faced by the grocery industry across the UK and warned that the scale of food inflation this year is “difficult to predict”. The online delivery specialist said there had been “significant” rises in the costs of raw materials and products as well as

The former Chelsea striker Gianluca Vialli has been hired by Nick Candy, the British property developer, to advise on his looming offer for the crisis-hit Premier League club. Sky News has learnt that Tifosy Capital & Advisory, which was set up by Mr Vialli and a group of financiers, is working with Mr Candy ahead

A Lloyd’s of London syndicate has been fined £1.05m over a culture of bullying and discrimination including an annual “Boys’ Night Out” characterised by heavy drinking and sexualised comments. Underwriting firm Atrium was also ordered to pay £563,000 in costs, after it accepted three charges of detrimental conduct brought by the insurance market’s enforcement board.

The US central bank has fired the starting pistol on interest rate rises as the world’s largest economy faces up to a surge in inflation that is only predicted to accelerate during Russia’s war in Ukraine. The Federal Reserve raised its benchmark rate, for the first time since 2018, by a quarter point to a

McLaren Racing, one of motorsport’s most famous names, has struck a deal to lure Google, the technology behemoth, into Formula One racing for the first time. Sky News has learnt that Alphabet Inc-owned Google has signed an agreement with McLaren that will see the search engine’s consumer brands adorning its F1 and Extreme E cars

As Boris Johnson jetted off to Saudi Arabia in an attempt to persuade the Kingdom to pump more crude, a reminder arrived that whatever the prime minister’s efforts may yield, it may not be enough to save the world from an oil shock. The International Energy Agency, the multinational body set up in the wake

A battle over the future of some of London’s top restaurants has resumed hostilities after its Thai-based owner prepared legal proceedings against the fund which has just taken over the group’s debt. Sky News has learnt that Minor International has hired Linklaters, the magic circle law firm, to sue Knighthead Capital Management for allegedly inducing

Petrol prices have risen to an average of £1.65 a litre as motorists see no let-up in daily increases despite oil prices sliding back from peak levels. Latest figures from data firm Experian Catalist, for Tuesday, also showed average diesel prices had hit £1.76 a litre, both of them records. The cost of petrol has

Mixer-maker Fevertree has warned annual profits will be lower than previously expected after the Ukraine war pushed up commodity prices “dramatically”. The company said the surge over recent weeks had created “significant uncertainty in relation to input costs”. That means underlying earnings for the year are expected at £63m-£66m, down from previous guidance of £69m-£72m.

Boris Johnson will hold talks with the leaders of Saudi Arabia and the United Arab Emirates as he bids to end the West’s “addiction” to Russian oil and gas. With Vladimir Putin’s increasingly barbaric assault on Ukraine set to enter a third week, the prime minister is visiting the Gulf in a stepping-up of his

Heathrow Airport has called for all coronavirus testing to be dropped for fully-vaccinated people while revealing that “at least” 600,000 passengers cancelled flights during the key holiday month of December. The UK’s largest airport said “swiftly imposed” action during the month to tackle the Omicron variant in the run-up to the festive season prompted uncertainty

A residential energy supplier part-owned by a Cheshire local authority is lining up administrators amid suggestions that it could collapse as soon as this week. Sky News has learnt that Together Energy, which serves about 170,000 homes, is preparing to call in insolvency practitioners from FRP Advisory, the London-listed restructuring firm. One energy industry executive

Aldi says it enjoyed a record Christmas with sales boosted by “half a million new shoppers in December” as the wider grocery sector gears up for a tougher year as household budgets are squeezed by surging inflation. The UK’s fifth-largest supermarket chain said sales in December rose by 0.4% compared to the previous year, when

WH Smith has kicked off a search for a new chairman as the high street and travel hub-focused retailer continues to grapple with the impact of the pandemic. Sky News understands that headhunters advising the chain have begun approaching prospective replacements for Henry Staunton, who has chaired the business since 2013. Mr Staunton, a former

The British company which has orchestrated a torrent of retail share placings for cash-strapped companies during the pandemic is in advanced talks to sell a big stake to the world’s largest technology investor. Sky News has learnt that PrimaryBid is close to finalising the details of a $150m (£110m) funding round that will be led

Eyewitness: Remembering a job done By James Matthews, Scotland correspondent Hunterston is a human story too. It showed in the gathering of around a dozen former employees who lined the approach road to watch this nuclear power station, their station, breathe its last. The 40-second rapid release of steam into the cold January air was

The US jobs recovery stalled at the end of last year even as official figures confirmed annual record growth in employment numbers. Closely-watched data from America’s bureau of labour statistics (BLS) showed the world’s biggest economy added 199,000 jobs in December – well short of the 400,000 figure pencilled in by forecasters. Experts said a

Oil and gas companies operating in the UK’s North Sea are expected to report “near record” income in 2021 and 2022 as the price of energy skyrockets. Wood Mackenzie analysis says that UK oil and gas operators are projected to record around $17bn in cash flow for last year, and approximately $18bn this year. Such

When energy prices rise Natasha and Gary Waterhouse notice. In the last four years their lives have been turned upside down. Shortly after they were married Natasha had to have a tumour removed from her spinal column which damaged nerves and left her mobility compromised. She had to stop working and, after trying to juggle

The scrapping of pre-departure coronavirus testing for people arriving in the UK has resulted in a leap in interest in international travel, companies have reported. The measure, which was introduced in the run-up to Christmas to combat the Omicron variant, will be withdrawn from 4am on Friday across the UK now Scotland has decided to