Ofgem prepares to investigate energy market June 23, 2014 ENERGY regulator Ofgem is preparing to launch its biggest-ever investigation into the UK energy market this week, amid growing anger from consumers about high prices and poor customer service. The investigation will be undertaken by the Competition and Markets Authority and is set to take 18 months to complete. It comes after consumer watchdog Which [...]
A parting thought: Britain needs to learn to love capitalism June 19, 2014 THERE is one change, more than any other, that Britain needs to undergo if we want to fulfil our true potential. We must learn to embrace capitalism, individual liberty and the awe-inspiring wealth and job creating potential of business, and ditch our ambivalent attitude towards free markets. It is time for a cultural revolution in [...]
Bitcoin and the future of free market money June 19, 2014 The correct government response to the rise of cryptocurrencies should be to allow free competition on a level playing field, according to a new monograph published by the Institute of Economic Affairs (IEA). New Private Monies: A Bit-Part Player? was launched at the IEA's offices in Westminster with a panel discussion in front of a [...]
Why the car insurance industry faces a difficult future June 12, 2014 The Competition and Market Authority's (CMA) proposed plans for change in the private motor insurance market aim to increase competition and reduce the cost of premiums for motorists. If implemented, they stand to do just that. This is great news for customers, but what does this mean for an industry that is already exceptionally competitive, [...]
Competition watchdog demands comparison site for payday loans June 11, 2014 PAYDAY borrowers would be treated fairly only when they could properly compare loans, the Competition and Markets Authority said yesterday. The sector already displays a range of prices and varied quality of service, the CMA’s probe found, but it said competition was not working properly at the moment. Without such a move, the average borrower [...]
Firms hit back in energy row June 10, 2014 THE UK’S largest energy firms were forced to defend themselves yesterday after Ofgem wrote to the big six companies asking them to explain why falling wholesale costs had not been passed on to consumers. The regulator said that failure to engage with consumers on this issue “further risks undermining public confidence in the energy market”. [...]
World Cup fever: Why an England loss will wipe billions off the stock market June 10, 2014 THE WORLD Cup, which starts tomorrow, will spark a huge range of human emotions, from the excitement of victory to the despair of defeat. The effect of football results on national mood is so strong that it can spill over into the stock market and cause swings of billions of pounds. Why? While the World [...]
World Cup fever: Why an England loss will wipe billions off the stock market June 10, 2014 THE WORLD Cup, which starts tomorrow, will spark a huge range of human emotions, from the excitement of victory to the despair of defeat. The effect of football results on national mood is so strong that it can spill over into the stock market and cause swings of billions of pounds. Why? While the World [...]
Most UK adults do not trust any energy supplier June 9, 2014 MORE than half of British adults do not trust any energy supplier, while 36 per cent do not trust their energy bills, according to new research published today. Forty-one per cent of 10,000 respondents fear they are paying for more energy than they are using, showed a survey commissioned by the Smart Meter Central Delivery [...]
Kings of Leon: Meet fast food entrepreneurs Henry Dimbleby and John Vincent June 8, 2014 Annabel Palmer talks fast food in heaven with Leon founders Henry Dimbleby and John Vincent BRITAIN’S foodies have never had it so good. Barely a week goes by without a new fad emerging to whet their sweetbreads (most recently, the rise of American-inspired dipping and Korean cuisine); BBC One’s Masterchef becomes ever more delectable as [...]