Energy firms plead for ‘bad bank’ as whole prices climb 70 per cent since last month September 20, 2021 The UK’s energy suppliers have urged for the creation of a so-called “bad bank” to absorb unprofitable customers from failing companies. Firms have requested billions of pounds in emergency funding to weather a crisis caused by record wholesale energy costs. Business secretary, Kwasi Kwarteng, held crisis talks with regulator Ofgem on Sunday and will meet [...]
Buyers face hot competition as average house price hits all-time high September 20, 2021 The national average price of property coming to market has hit an all-time high after rising 0.3 per cent this month, to £338,462. This new record high is only £15 higher than the previous record set in July, suggesting a stabilising prices, according to Rightmove’s house price index. Buyers are facing fierce competition to buy [...]
Red Bull threatens gin firm with legal action over use of word ‘bull’ September 18, 2021 A Norwich-based gin maker has been threatened with legal action by energy drinks giant Red Bull over the use of the word ‘bull’. Red Bull told gin maker Bullards there was a “likelihood of confusion on behalf of the public” as both brand names “include the term bull”. Bullards was asked to delete a series [...]
Rising gas prices endanger food supplies September 18, 2021 Food production could be hit by major disruption after rocketing energy prices have threatened to create a shortage of carbon dioxide needed for farming. Two fertiliser plants in the country have been temporarily shut down as gas prices have climbed. Firms could run out of carbon dioxide in less than two weeks, with some being [...]
Holidaymakers rush to make bookings after travel rules update September 18, 2021 Holiday firms have reported a surge in demand from customers after the government announced plans to simplify international travel rules in England. Transport secretary Grant Shapps said the traffic light system would be replaced with a single red list. Bookings are expected to surge as Brits look to escape abroad during the half-term holidays later [...]
DWP apologises after delays in pension payments September 18, 2021 Thousands of pensioners have not yet been paid their state pension because of government backlogs. People who have just turned 66 have not been paid on time after backlogs in processing applications at the Department for Work and Pensions (DWP). Officials have apologised and said the delays were a result of the pandemic and staffing [...]
Case of ‘mad cow disease’ discovered on Somerset farm September 18, 2021 A case of the cattle disease BSE – known as mad cow disease – has been identified on a farm in Somerset. The Animal and Plant Health Agency (APHA) has launched an investigation into the source of the incident. There was no risk to food safety or beef exports to other countries, the authority said. [...]
Evergrande executives redeemed investment products in advance September 18, 2021 Six executives of China’s beleaguered real estate giant Evergrande redeemed some of the company’s investment products in advance earlier this year. The executives made early redemptions of 12 investment products, between May 1 and September 7, the property group said in a statement on Saturday. The statement on the group’s website did not identify the [...]
Brits encouraged to back pubs and restaurants on National Hospitality Day September 17, 2021 Londoners have been called on to go out for a drink or meal this weekend to support businesses recovering from multiple lockdowns. Sector charities have organised National Hospitality Day on Saturday to raise awareness of the struggles faced by businesses because of the pandemic. Businesses participating include Brewdog bars offering free pints, Zizzi giving out [...]
Next to run Gap’s UK operation in joint venture September 17, 2021 Next will manage Gap’s online business in the UK and Ireland as a franchise partner, after the companies finalised an agreement. The fashion companies announced they will form a joint venture with Next owning 51 per cent and Gap owning 49 per cent. Next will operate Gap’s e-commerce business across the Next Total Platform, host [...]
