A British company that burns wood to create electricity is the latest power giant to post soaring annual profits amid the energy crisis of 2022. Gas prices reached record highs last year as Russia squeezed supplies to Europe in response to sanctions for its invasion of Ukraine, accelerating the shift away from fossil fuels and
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Bentley will end production of its “iconic” 12-cylinder petrol engine in April next year. More than 100,000 W12s have been built at the firm’s factory in Crewe, Cheshire over the past 20 years. The British luxury car manufacturer announced on Wednesday it will halt production of the famed W12 engine, launched in 2003, as it
Bills will rise by an estimated £500 a year despite an expected reduction in Ofgem’s household energy cap, analysts expect. The energy regulator will cap the amount households pay on electricity and gas bills each year at £3,294 from 1 April, Cornwall Insights has forecast – a drop from the previous cap of £4,279 effective
The boss of one of the UK’s largest fish and chips chains has told Sky News that industry prices are stabilising but yet to reach their peak. James Lipscombe, chief executive of The Chesterford Group which runs 38 takeaways and restaurants under several brands, spoke of a mammoth effort to maintain sales volumes as the
Charging customers higher electricity prices has helped the UK wing of the French state-owned energy giant turn a profit. While an overall loss was recorded at EDF (Électricité de France) earnings rose at its UK operations, it said in its 2022 annual results. Core profits in the UK electricity-producing entity hit £1.12bn, up from a
An estimated 91.2% of card payments last year were contactless, according to data covering spending when the technology was available. Analysis of habits by debit and credit card users at Barclays showed face-to-face or in-store spending using contactless was up from 82.6% achieved the previous year. The bank credited much of the “tap and go”
Ford has announced that 1,300 jobs, a fifth of the workforce, is being cut from its UK business as part of a Europe-wide overhaul. The majority of the UK losses will be at the Ford site in Dunton, Essex – its UK headquarters and technical centre. Up to 1,000 jobs are to be axed at
Britain’s biggest luxury yacht-builder is being sold to new private equity backers 15 years after it last changed hands. Sky News has learnt that Princess Yachts, which is based in Plymouth, is being sold to KPS Capital Partners, a US-headquartered investor which specialises in owning manufacturing businesses. Sources said a deal could be struck as
An exclusive Sky News/Ipsos poll has found that young people are feeling increasingly lonely – with the cost of living crisis leading many to take on extra work, move in with their parents and cut back on socialising. The poll, conducted in December, found 37% of 18 to 24-year-olds felt lonelier this winter than they