Martin Lewis apologises for sweary rant after branding Ofgem changes a “f******g disgrace” May 16, 2022 Martin Lewis has apologised for "losing his rag" during a furious rant to Ofgem over proposed changes to the energy sector.
Ofgem boss: Expect even higher energy bills this winter May 16, 2022 Energy prices will rise again in October, putting more pressure on struggling households, warned Ofgem boss Jonathan Brearley.
Minister criticised for saying people should ‘work more hours or move to a better paid job’ to cope with cost of living crisis May 16, 2022 The government’s safeguarding minister has come in for sharp criticism after saying people struggling with the cost of living crisis should “work more hours” or get a “better paid job.” Rachel Maclean said there were way households could “protect themselves” from rising inflation and pressures on their budgets, while appearing on Sky News this morning. [...]
Hope and excitement in Kyiv as Ukrainian troops reach Russian border: Retreat is embarrassment for Putin May 16, 2022 Ukraine is hit by a wave of hope and excitement this morning as its troops have reached the border with Russia. Troops defending the city of Kharkov claim to have pushed back Russian troops to the Ukraine-Russia border. Ukrainian authorities released a video in which a military unit poses in front of a boundary marker. [...]
Russian hackers blocked from halting Ukraine’s Eurovision win May 16, 2022 Italian police confirmed yesterday that pro-Russian hackers attempted to stop Ukraine's Eurovision win on Saturday evening.
Saudi Aramco brings in record $39.5bn income as oil prices surge May 16, 2022 Saudi Aramco generated $39.5bn (£32.3bn) in income in the first quarter of 2022, after volatile commodity prices saw its income increase by 82 per cent compared to the same time last year. The almost $40bn worth of income marks a record for Saudi Arabia’s national oil company in coming as its highest quarterly earnings since [...]
Exclusive: Ukraine war puts major dent in derivative margin costs May 15, 2022 The war in Ukraine has caused huge increases in margin across derivatives markets, with firms having to find new sources of financing or reducing their positions in order to meet the collateral requirements from brokers, The margin rate for Brent Crude futures on Intercontinental Exchange (ICE) now stands at over $10,00 per lot. With the [...]
Kwarteng pushes for gas to be classified as ‘green investments’ May 15, 2022 Kwasi Kwarteng is looking to classify as natural gas as a 'green investment' in a bid to ramp up North Sea production in line with government aspirations.
Aramco revels in record profits powered by booming oil prices May 15, 2022 Saudi Aramco (Aramco) has reported a massive 82 per cent spike in profits over the first three months of the year powered by lucrative oil trading.
Mr Kwarteng goes to Washington: Business Secretary heads Stateside to lure nuclear investors May 15, 2022 The Business Secretary will seek to lure US investment in new nuclear plants, as the UK aims to reduce its reliance on Chinese investment.