Business

Big Ideas live will explore the challenges facing the economy as we come out of the pandemic. It will look at how business can fire up the UK, but also at the challenges they face in doing so. What are the jobs which will be created, post pandemic, and where in the country? And with

Online fashion retailer ASOS has warned profits could fall by as much as 40% as it counts the cost of supply chain strains and Brexit duties – and said it was parting company with its boss. Shares plunged as much as 15% in early trading as the group pencilled in slowing sales growth ahead, after

A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale prices. A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale

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

A pig farmer who fears he may have to destroy 80 animals a week due to a shortage of butchers says the army may need to be called in to help. Stephen Thompson, who keeps 2,000 pigs at Povey Farm in Norton, Derbyshire, described the situation facing the industry as “the biggest waste and mess

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

Firms are increasingly putting up prices as they pass on soaring costs, according to new figures that are likely to add to fears of a squeeze on household budgets. Data from the Office for National Statistics (ONS) found 10% of businesses increased their prices in early September, up from 8% in mid-August and 4% in

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

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

The UK’s largest retailer has reported a doubling of first-half profits and raised its full-year outlook – shrugging off the challenges posed by supply chain disruption in the industry. Tesco said it had grown sales during the first six months of its financial year and weathered headwinds including “high” levels of enforced COVID-19 isolation among

Hundreds of healthy pigs have been culled after a nationwide shortage of abattoir workers left farms overcrowded with animals that could not be sent for slaughter. The National Pig Association (NPA) said at least 600 swine had been killed – and fears that the bottleneck in the meat processing industry could see as many as

New car sales plunged by 35% in September as chip shortages inflicted a major setback on what is normally a key month for the sector, according to industry data. Just 214,000 new vehicles were registered, the weakest for the month since the “two-plate” system for new cars was introduced in 1999, said the Society of

Soldiers will begin delivering fuel to petrol stations this morning as parts of the country continue to struggle with shortages. Around 200 military personnel are being deployed on Operation Escalin in an effort to increase the number of tanker drivers. Most of the troops, who have been on standby since last week, will work in

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