Europe risks supply crunch this winter if Russia cuts off gas, warns IEA October 3, 2022 Europe will be on the verge of a supply crunch this winter if Russia turns off the taps into the continent, warned the IEA.
Bank should have delayed rate decision to avert crisis, says former pensions minister October 3, 2022 The Bank of England should have delayed its rate-setting meeting until after the government’s mini-budget to have avoided the crisis that rocked pension funds last week, a former pensions minister said today.
UK at risk of gas supply shortages this year, warns Ofgem October 3, 2022 The UK is at risk of gas shortages this winter following Russia's invasion of Ukraine and continued disruption to energy supplies, warned Ofgem.
Brokers back Next 15 in final push for M&C Saatchi takeover October 3, 2022 After months of back and forth, Next 15 may just be on the home straight for a deal to takeover M&C Saatchi. It comes after rival contender AdvancedAdvt announced that its offer for the advertising giant had lapsed on Friday. Excluding Vin Murria and her investment vehicle AdvancedAdvt’s 22 per cent stake in the ad [...]
Exclusive: Ukraine urges West to slash Russian war revenues October 3, 2022 The West needs to slash Russia's revenues from soaring oil and gas prices, argued Naftogaz, Ukraine's state energy provider.
Connecting? Vodafone confirms merger talks with Three UK October 3, 2022 Vodafone confirmed it was in merger talks with Three UK this morning, setting the scene to become the largest mobile telecoms supplier in Britain. The FTSE 100 firm said it was in discussions with CK Hutchison, Three’s Hong-Kong parent company, with the view of combining the two UK arms, with Vodafone owning 51 per cent [...]
Telecom Plus shares surge as customers snap up bargain deals October 3, 2022 Telecom Plus shares surged over 20 per cent this afternoon after the utility services giant hiked full-year profit guidance after posting record customer growth during the first half of the year. The company nabbed 86,004 new customers in the six months to September, taking its total customer base to 814,684 and representing an annualised growth rate of [...]
IFS warns ‘massive spending cuts will still be needed’ despite Kwarteng U-turn October 3, 2022 The Chancellor’s U-turn on his plans to axe the 45p tax rate will do little to ease the pressure on the UK’s public finances and the mammoth spending cuts needed to get borrowing back on track, think tank experts have warned. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said the about-turn on [...]
Hurricane Ian set to cost insurers £27-36bn October 3, 2022 The category 4 storm Hurricane Ian that hit the southwest coast of Florida earlier this month is set to cost insurers $30- 40bn (£27- £36bn), according to new analysis from S&P Global. However, US insurers are currently well positioned to absorb losses in having sufficient reserves to weather any financial hit, the ratings agency said [...]
Credit Suisse shares tumble as investor concerns grow October 3, 2022 Shares in Credit Suisse have tumbled beyond seven per per cent today as a charm offensive by bosses over the weekend failed to reassure investors over the bank’s financial stability.