On today’s business podcast, Ian King explores the warning from the governor of the Bank of England that firms are facing stiff competition to recruit staff in the run-up to Christmas. We hear from a British nuclear fusion company which has just tested its first launch-capable, high-power chemical rocket engine. Ian also focuses on how
Downing Street has started work on a shake-up of Boris Johnson’s business advisers amid a backlash over his widely criticised speech at the CBI’s annual conference. Sky News has learnt that officials in Number 10 have contacted members of the Build Back Better Council (BBBC) in recent weeks to inform them that their involvement would
Hospitality firms face a “major challenge” from higher energy and staff costs as they seek to rebuild following the pandemic, bar and pub operator Mitchells & Butlers has warned. The company behind brands such as Harvester and All Bar One reported a second year in a row of annual losses though said in recent weeks
Adverts for cosmetic procedures will be banned from targeting under-18s next year, the regulator has announced. The new rules mean companies will not be able to advertise procedures that are designed to change a person’s physical appearance – including breast augmentation, or reduction, “tummy tucks”, eyelid surgery, nose reshaping, or facelifts. The ban also covers
The secured creditor to the parent company of Bulb has pushed through an eleventh-hour switch in its administrator as it seeks to protect a £55m exposure it has to the collapsed energy supplier. Sky News has learnt that Sequoia Economic Infrastructure Income Fund, a London Stock Exchange-listed company, on Wednesday moved to block the appointment
The Queen met with the governor of the Bank of England – her second in-person engagement this week. The monarch, 95, held an audience with Andrew Bailey the day after she knighted her top royal physician, Professor Sir Huw Thomas, during a private ceremony. The Queen and the head of the financial institution were pictured
Luxury fashion brand Mulberry said it was well set for Christmas as demand returned to pre-pandemic levels and its UK production line helped it avoid supply chain worries. Mulberry – which was forced to axe a quarter of its global workforce last year as lockdowns crushed trading – said sales in the six weeks to
The Turkish lira is seemingly in freefall. The currency has fallen by more than 40% this year against the US dollar and, following an 11% fall on Tuesday alone, now sits at close to a record low against the greenback. 100 Turkish lira is now worth around $8.15 or £6.10. Last November, 100 Turkish lira
On today’s business podcast, Ian King explores the move countries are taking to try to reduce the wholesale cost of oil; Brewin Dolphin reveals it’s attracted a record amount of money from clients over the past year; and Podimo, the Danish audio subscription service, secures new investment as it looks to the future. :: Listen
Consumers can expect a “scaled-back” Christmas this year as retailers reduce the range of products available to cope with supply chain pressures, MPs have been told. A lack of HGV drivers has strained supply chains and prompted fears of shortages on supermarket shelves this festive season. Shane Brennan, chief executive of the Cold Chain Federation,
A local authority-backed energy supplier to more than 170,000 homes is racing to secure new funding as it plots a path back to profitability amid the industry’s deepening crisis. Sky News has learnt that Together Energy, which is 50%-owned by Warrington Borough Council, is working with advisers at Alvarez & Marsal to raise additional capital.
Lidl has announced its latest expansion plans which will see it aim to reach 1,100 stores in Britain by the end of 2025. The German-owned discount supermarket said the new target, which builds on a previous goal to reach 1,000 sites by the end of 2023, would result in the creation of 4,000 jobs. Lidl
The president of the CBI has called on the prime minister to “stop hiking taxes and focus on boosting investment” in a rebuke over the increasing burdens being placed on business. Lord Bilimoria will cite policies such as plans to increase corporation tax and national insurance in a speech to the business organisation’s annual conference.
Professional football club-owners in England will be overseen by a new licensing regime forcing them to demonstrate fully-funded three-year business plans under proposals to be set out by a former sports minister this week. Sky News has learnt that a review of football’s governance led by Tracey Crouch, the Conservative MP, will outline the new
The new chairman of Asda, the retail grandee Lord Stuart Rose, has said the appointment of a chief executive is a “priority” for the board. It was eight months ago that the UK’s third-largest supermarket chain confirmed that Roger Burnley planned to retire but would stay on until 2022 to aid the transition to a
Two of Britain’s leading corporate figures are being appointed as directors of supermarket chain Asda as its shareholders forge closer ties to the fuel retailer they also own. Sky News has learnt that Lord Rose of Monewden, the former Marks & Spencer and Ocado chairman, and Dame Alison Carnwath, the former Land Securities chair, will