Ofgem: Five suppliers have ‘severe weaknesses’ in treating vulnerable users November 22, 2022 Five UK energy suppliers have severe weaknesses in how they handle of vulnerable customers, according to the latest report from Ofgem.
£4bn takeover of HomeServe set for early 2023 as profit rises for repairs firm November 22, 2022 A £4.1bn takeover of repairs firm HomeServe by a Canadian suitor is on track to be completed by early 2023 at the latest. The pipe-fixing company has been snapped up by Bidco, a subsidiary of Canadian company Brookfield Infrastructure funds. HomeServe said all necessary regulatory and competition approvals have now been obtained in the UK [...]
City Moves: Who’s switching jobs in the Square Mile? November 22, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Newton Newton Investment Management, part of BNY Mellon Investment Management, has bolstered its board with a fresh chair. Ex-Fidelity Investments Japan CEO Judy Marlinski, currently an independent non-executive board member, stepped into the new role earlier this [...]
RAC calls on supermarkets to cut petrol prices to ease cost of living crisis November 22, 2022 RAC has urged supermarkets to cut their petrol and diesel prices to ease the pressure on struggling Brits ahead of Christmas.
UK set to become next AI superpower says new report November 22, 2022 The UK could be the next big global artificial intelligence superpower as the government leads the way with public sector investment. According to a new independent report carried out by WPI Economics, on behalf of software firm Splunk, the UK is forging ahead of its European rivals in many aspects of how it embeds data and [...]
Exclusive: London beats European cities to continental tech crown November 22, 2022 London is the most technologically advanced city in Europe, beating Paris, Frankfurt and Madrid, exclusive research shared with City A.M. unveils. The capital’s capacity for world class innovation drove it to the top of the continental rankings in Z/Yen’s sixth smart cities index. New York topped the global rankings, again. The Square Mile’s banks, brokers [...]
Starmer: UK must be weaned off its ‘immigration dependency’ November 21, 2022 The UK can no longer rely on “low pay and cheap labour” to spur economic growth and must be weaned off its “immigration dependency”, Labour leader Sir Keir Starmer will say tomorrow. Starmer will tell the Confederation of British Industry’s (CBI) annual conference that a Labour government will “start investing more in training up workers [...]
Oil markets endure rollercoaster ride as OPEC rejects reports of production hike November 21, 2022 Oil prices whipsawed in today’s trading, before settling near this morning’s initial prices on both major benchmarks. Prices dipped to their lowest since early January, before rebounding as reports varied over whether Saudi Arabia and other OPEC oil producers are considering a half-million barrel daily output increase. Brent Crude and WTI Crude prices both plummeted [...]
Shell weighs up £25bn UK spending pledge after Hunt toughens windfall tax November 21, 2022 Shell has warned it could ditch its pledge to invest £25bn in the UK’s energy sector, after the windfall tax was toughened up last week.
Facebook owner Meta sued for selling personal data for ads November 21, 2022 Facebook owner Meta has been sued in the high court after claims that it disregarded the right to object against the collection of personal data to sell to advertisers. Human rights advocate Tanya O’Carroll alleges that the Silicon Valley giant has breached UK data laws by failing to respect her right to demand that it [...]