Ofgem price cap: What to do if your energy bills shoot up February 21, 2019 Around 11m customers are facing higher energy bills from April, as SSE became the last of the Big Six energy suppliers to hike tariffs this morning. The energy firms have said that they need to put up prices as they are squeezed by higher wholesale costs. Read more: Households told to cough up as Ofgem [...]
Government borrowing falls to lowest yearly level since 2001 with record January surplus February 21, 2019 Government borrowing has fallen to its lowest year-to-date level since 2001 and recorded the largest January surplus since records began. Public sector borrowing from April 2018 through to January was £21.2bn, the lowest at this point in the financial year since 2001, and £18.5bn less than in the previous year. Net borrowing in January itself [...]
Electric avenue: SSE becomes last Big Six supplier to hike energy prices after Ofgem price cap rise February 21, 2019 The energy market completed the set this morning as supplier SSE became the last of the Big Six to say it will hike prices. The move comes exactly two weeks since Ofgem increased the rate which suppliers are allowed to charge customers on default tariffs for their energy. Read more: Ofgem price cap: What to [...]
Investors afraid German economic slowdown will hit recruiter Hays Group February 21, 2019 Recruitment firm Hays Group shares fell 6.9 per cent this morning amid fears of a German slowdown, despite announcing rising profits and revenues. The company also admitted it was battling “economic uncertainties” in the UK, but that other global markets were strong in its interim results The figures Operating profit for the six months to [...]
If you’re so successful, why are you still working 70 hours a week? February 21, 2019 | City Talk Professor Empson’s book argues that the people leading the world’s most influential professional firms, including major accounting and consulting firms, law firms and investment banks, are constantly working to maintain an unstable equilibrium which can be thrown off balance at any time, losing them authority and potentially cause chaos. In one key chapter in her [...]
British Gas owner Centrica sees shares fall to 20-year low as it warns of energy price cap hit to cash flow February 21, 2019 The owner of British Gas grew profits last year, but shares dropped 11 per cent this morning to a 20-year low as the company warned a new energy price cap will impact cash flow. The figures Revenue grew six per cent year on year to £29.7bn at Centrica and adjusted operating profit was up 12 per cent to [...]
Tories and Labour brace for more defections to Independent Group as Brexit patience wears thin February 21, 2019 The newly formed Independent Group could soon be welcoming more disaffected Labour and Tory MPs as a number of senior figures took to the airwaves to warn of more resignations. Former Tory MP Heidi Allen, who resigned from the party yesterday along with Remain-supporting colleagues Anna Soubry and Sarah Wollaston, told ITV last night that [...]
Serco seeks to capitalise on Brexit contract chaos as financial turnaround continues February 21, 2019 Outsourcing giant Serco said it could benefit from Brexit in the coming months if the government “needs help quickly,” raising its sales forecast for the coming year. "If we’re going to take back control, we’re going to need people to do the taking-back and the controlling,” chief executive Rupert Soames told City A.M.. “The government [...]
O2 grows revenue and customer numbers as it prepares for ‘cautious’ 5G rollout February 21, 2019 O2 revealed strong customer and revenue growth for 2018 today as revealed plans to bring 5G to the UK this year. Read more: Vodafone connects smartphones to 5G in world first The figures The mobile operator added 501,000 net contract additions to bring its total base to 32.6m, with a contract churn rate of just [...]
Heathrow breaks the history books with over 80m passengers flying through airport February 21, 2019 Heathrow airport enjoyed the busiest year in its history last year, bringing in 80.1m passengers, a near three per cent increase on the year before. The record-breaking numbers were accompanied by a climb in revenue of three per cent to £3bn, which the airport said was delivered by increasing demand and strong retail spend. Over the [...]