Forced prepayment meter installations for over 85s banned in Ofgem crackdown April 18, 2023 UK energy suppliers have all signed up to a new code of practice for prepayment meters as part of an industry crackdown.
Cineworld can’t find buyer for operations outside UK, US and Ireland as creditors set to take over April 18, 2023 Cineworld will halt efforts to sell its business outside of the UK, US, and Ireland after it failed to find a buyer. The London-listed firm — which filed for bankruptcy in the US last August — said that it had received offers for its “Rest of World” business but they “did not meet the value [...]
THG shrugs off £495m operating loss as luxury retailer mulls Apollo buyout April 18, 2023 THG has revealed an operating loss of £495.6m as the online retailer admitted having to fork out for soaring international delivery costs and a strategic review of its stock The London-listed e-commerce platform posted a 2.7 per cent jump in group revenues to £2,239.2m, compared to £2,179.9m the previous year, as the company undergoes a [...]
Putin visits Russian troops in Ukraine as G7 leaders vow to ‘intensify sanctions’ on Moscow at Japan meeting April 18, 2023 The Kremlin says Russian President Vladimir Putin has visited headquarters of the Russian troops fighting in Ukraine. A video released by the Kremlin early on Tuesday showed Mr Putin visiting the command post for Russian forces in the southern Kherson region. It showed Mr Putin receiving reports from the top military brass. He then moved [...]
No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
Bank of England to shun interest rate hike for first time since November 2021 next month April 18, 2023 The Bank of England will keep interest rates unchanged at its next meeting on 11 May, marking the first time the central bank has not hiked borrowing costs since November 2021, a new survey out yesterday predicted. According to a survey by Bloomberg, more than half of City economists suspect Governor Andrew Bailey and the [...]
Inflation sliding and tough Bank of England means the pound will see better days April 18, 2023 “Hope is not a strategy,” Jordan Rochester, a wonk at Japanese investment bank Nomura, said last September, referring to politicians’ attempts to revive the pound after it plummeted to its lowest level ever against the US dollar following Liz Truss’s tax cutting mini budget. A lot has changed since then. Chancellor Jeremy Hunt raised taxes [...]
Regulators must be kept in check, Tory MPs warn April 18, 2023 Tory MPs have warned powerful regulators operating “largely unchecked” are holding back the UK’s economy and “directly hindering” the country’s growth prospects. The backbench Regulatory Reform Group (RRG) has called for increased parliamentary oversight of the UK’s regulators – from water and energy watchdogs Ofwat and Ofgem to banking supervisor the Financial Conduct Authority (FCA). [...]
North Sea industry push for windfall tax price floor in bid to boost bank lending April 18, 2023 North Sea oil and gas producers are pushing the government to introduce a price floor in the windfall tax so that banks will offer better loans.
Low-cost energy generation may no longer be winning factor for renewable auctions under government overhaul April 18, 2023 Applications for renewable projects could soon be assessed on their contributions to the wider green industry, rather than just prices.
