Latest Business News

The backlog of cargo ships at the busiest port complex in the US - images of which have come to define the global supply chain crisis - is unlikely to return to normal before next summer.The executive director of the Port of Long Beach in California says plans to switch to 24/7 operations, pushed by President Joe Biden this week, will improve the crisis in the short term but that […]

Matthew Moulding, the boss of the online beauty, nutrition and technology services group THG, is to surrender his golden share in the company in an attempt to restore the City's confidence after a torrid fortnight.Sky News has learnt that the owner of The Hut Group, which floated just over a year ago, will announce next week that it plans to move its listing to the premium segment of the London […]

There are calls for more energy companies to be regulated like banks, to prevent another crash. :: Listen and subscribe to The Ian King Business Podcast here.Ian also explores how employers are being urged to review their bereavement leave policy as part of this year's Pregnancy and Infant Loss Remembrance Day.We also hear from the chief executive of Ingka Group, which owns Ikea, about investment in the home furnishing company's […]

They don't make them like Gerry Robinson any more.These days, chief executives are expected to talk earnestly about their environmental, social and governance policies, sip mineral water at lunchtime and list participating in triathlons among their hobbies and pastimes. Sir Gerry, who died on Thursday at the age of 72, was a larger-than-life character who spoke his mind, liked a drink and did not mind using the odd Anglo-Saxon epithet. […]

Virgin Galactic has postponed its next test flight due to safety concerns regarding the "strength margins" of materials used in the rocket plane.The move follows a regulatory investigation into the company's maiden launch in July, for which founder Sir Richard Branson was on board, and that flagged concerns which Virgin Galactic accepted. The space tourism company, which doesn't actually take passengers into space according to the international definition of where […]

The owners of Homebase are facing scrutiny over the financial support that the DIY chain took from taxpayers during the pandemic after seeing profits surge last year.Sky News can reveal that Homebase, which came close to collapse in 2018, received close to £40m in government funding in 2020 in the form of business rates relief and payments made under the furlough scheme. Sources said on Friday that the chain had […]

The head of British Gas owner Centrica has called for a "fit and proper" test for executives running energy companies after a series of insolvencies prompted by the gas price crisis.Chris O'Shea, chief executive of the energy giant, called for changes to ensure that it never happens again. The spike in wholesale gas prices has seen 12 smaller suppliers collapse since the start of September alone, affecting nearly two million […]

There is a "lot of work to do" and a "big gap" remains between the UK and EU over the Northern Ireland Protocol, the Brexit minister has said.Speaking as he arrived in Brussels for talks with his EU counterpart Maros Sefcovic, Lord Frost told reporters he was "looking forward to good discussions". "There's a lot of work to do because there are gaps between us," he said. Referring to the […]

A former Boeing employee has been charged in connection with the crashes of two 737 Max airliners.Mark Forkner has been indicted for allegedly giving the Federal Aviation Administration (FAA) false and incomplete information about a system on the planes which played a role in the 2018 Lion Air Flight 610 and 2019 Ethiopian Airlines Flight 302 incidents. In total, 346 people died in the crashes. Image: A family member mourns […]