Ofgem’s energy price cap to come into effect from new year, but critics say switching is still more effective November 6, 2018 Ofgem's energy price cap is set to come into force from 1 January, the regulator said today. But consumer groups have warned it is a “temporary fix” that could put customers off switching between providers to find the cheapest deals. Ofgem said the cap, announced in September, will reduce £1bn in overcharging on gas and electricity [...]
Greene King boss to step down after 14 years in charge of brewer November 6, 2018 The chief executive of Greene King, Rooney Anand, is set to leave his role at the end of the financial year after 14 years in the job, the company announced today. Anand, who has led the pub chain and brewer since 2005, will step down in April 2019. Greene King said it has already begun the [...]
Icelandair stocks skyrocket as it announces Wow Air purchase November 5, 2018 Icelandair closed up more than 39 per cent today after the airline announced plans to buy fellow Icelandic carrier Wow Air. The deal, which is subject to approval by Icelandair’s shareholders and the country’s competition authorities, will see Wow Air shareholders receive 5.4 per cent of Icelandair’s shares. Icelandair said the companies will continue to operate as [...]
You can live opposite Queen Elizabeth II for £47,000 per week November 5, 2018 A palatial mansion opposite Buckingham Palace is available to rent for £2.4m for a year, provided the resident purchases the property if they like it. The "try before you buy" £47,000 per week rental arrangement gives potential buyers a test run before committing to the £76.5m price tag. In addition to the Grade II-listed mansion, residents [...]
Business confidence hits lowest level since the financial crisis November 5, 2018 Confidence among UK businesses has fallen to its lowest level since 2008 amid a lack of progress in Brexit negotiations, according to new figures published today. The Institute of Chartered Accountants in England and Wales' (ICAEW's) Business Confidence Monitor index showed a sharp fall in confidence since last quarter from -0.2 to -12.3, lower than after both the [...]
UK car sales slump again in October despite growth in hybrid car sales November 5, 2018 New car sales fell by 2.9 per cent in October as the industry continues to grapple with strict new emissions standards and confusion over diesel policy. Figures released today by the Society of Motor Manufacturers and Traders (SMMT) show new vehicle registrations fell to 153,599 in October. Overall, the new car sector remains down by [...]
Employers prepare to hand 180,000 workers a pay rise as real living wage increases November 5, 2018 Over a third of FTSE 100 companies are set to hand workers a pay rise this week as the real living wage rises to £9 an hour, an increase of 25p on the hourly rate. At least 180,000 staff and sub-contractors will receive the salary boost, which in London will rise by 35p to £10.55 an hour. The [...]
Natural disasters like Hurricane Florence and Genoa’s bridge collapse cost Swiss Re $1.1bn October 18, 2018 A string of recent natural disasters will set global reinsurer Swiss Re back roughly $1.1bn (£840m) in its third quarter, it revealed today. The largest costs were inflicted in September by Typhoon Jebi, the most powerful typhoon to hit Japan for 25 years. Claims from that disaster alone are expected to reach $500m. Hurricane Florence, [...]
Brexit uncertainty puts small businesses at risk, warns FSB October 18, 2018 Tens of thousands of small businesses would be put at risk from a no-deal Brexit, the Federation of Small Businesses claimed today. The business campaigner added that the lack of progress in negotiations between the UK and EU is increasing uncertainty among firms, forcing them to consider putting business decisions on hold and even cutting [...]
