Ovo Energy will this week table a takeover offer for rival Bulb in a bid to create the second-largest supplier in Britain’s crisis-hit energy market. Sky News has learnt that Ovo, which joined the ranks of the market’s biggest players when it completed the takeover of SSE’s retail customer base nearly two years ago, is
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The fuel supply crisis is “virtually at an end” in parts of the UK, but problems persist in London and the South East, the Petrol Retailers Association has said. There has been no overall improvement in the crisis in the last 24 hours, the group added. However, issues with getting fuel were “virtually at an
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)
A US private equity firm has won the auction for British supermarket group Morrisons with a £7bn bid. Clayton, Dubilier & Rice (CD&R) bid 287 pence per share. Morrisons is Britain’s fourth-biggest supermarket by market share, after market leader Tesco, Sainsbury’s and Asda. Based in Bradford, the business began as an egg and butter merchant
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
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,
The fuel crisis is “back under control” as more is now being delivered to petrol stations than is being sold, a minister has told Sky News. After days of long queues at petrol stations and with many running out of fuel, Simon Clarke, chief secretary to the Treasury, said the main message today is “there
The UK economy grew more strongly than previously thought in the second quarter as consumers curbed their savings to fuel a spending splurge. Gross domestic product (GDP) increased by 5.5% in the April-June period, according to the Office for National Statistics (ONS), which had initially estimated growth of 4.8%. It means that by the middle
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
Oil prices have topped $80 a barrel for the first time in three years – likely to add to pressure on motorists when the higher cost filters through to pumps. Brent crude rose for a sixth day in a row as concerns over supply coincide with more countries, such as Japan, easing COVID-19 restrictions, which
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