Our approach to energy prices shows we want climate policies only if they’re free June 14, 2023 High energy prices could have been an incentive for companies to move to less energy intensive processes and for consumers to use less energy. The opposite happened, writes Paul Ormerod
400 jobs saved in Dirty Martini deal June 13, 2023 Some 400 hospitality jobs have been saved thanks to Night Cap bar group’s acquisition of Dirty Martini and Tuttons Brasserie following a pre-pack administration sale for close to £5m. The deal includes five Dirty Martini bars in London and five across Birmingham, Bristol, Leeds, Manchester and Cardiff. Tuttons Brasserie, a restaurant in Covent Garden, which [...]
Gen Z drivers forking out extra £300 as soaring car premiums offset dip in petrol costs June 13, 2023 Young car owners are paying an extra £300 to drive a car this year as a result of insurers hiking up premium prices, new research shows. Analysis from Compare the Market shows that young motorists between 17-24 are now paying £2,559 to drive a car for a year, compared with £2,263 in 2022 a “substantial” [...]
Nintendo crowned ‘best value for money’ as nearly 70 per cent of Brits reduce gaming spend June 13, 2023 Nintendo’s online gaming subscription is the “best value for money” – but British gamers have spent less on products as the cost of living crisis weighs down their wallets. The Mario and Luigi creators have beaten the likes of the Xbox Game Pass and PlayStation Plus in Indivisible Gaming’s investigation into online gaming subscriptions. An [...]
CMA hits out at Asda and Sainsbury’s for restricting competition June 13, 2023 Asda and Sainsbury’s broke anti-competition rules a combined total of 32 times between 2011 and 2019, the competition watchdog said this morning. The Competition and Markets Authority (CMA) said the ‘Big Four’ supermarkets broke the Groceries Market Investigation (Controlled Land) Order 2010, which was brought in to stop supermarkets imposing new restrictions that stop rivals [...]
Bank of England to hoist interest rates to 5.75 per cent as experts warn UK inflation is out of control June 13, 2023 The Bank of England will have to hike interest rates to their highest level since July 2007, the eve of the financial crisis, in a sign that markets think the UK has the worst inflation problem in the rich world. Traders ratcheted up bets on how high Bank Governor Andrew Bailey and the rest of [...]
FTSE 100 close: Miners lift London’s premier index despite high wage growth sending rate fears spiralling June 13, 2023 Commodity giants lifted London’s main indexes on Tuesday despite concerns that the Bank of England will have to hike rates higher and faster on the back of the latest labour market figures. The capital’s premier index climbed 0.3 per cent to 7,594.78 points, although the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Artificial intelligence could turn human contact into a prerogative of the wealthy June 13, 2023 Artificial intelligence won't destroy our world, but will definitely change it. It could deepen inequalities in unforeseen ways - and human contact could fall victim to its progress, writes Phoebe Arslanagic-Wakefield
Ashley’s empire grows: Frasers picks up nearly 20 per cent of retailer AO World June 12, 2023 Mike Ashley's Frasers Group has invested £75m in electronic retailer AO World, taking a stake of almost 20 per cent in the business.
Shock result as Paul Scully MP fails to make Tory mayoral candidate shortlist June 11, 2023 Conservative MP Paul Scully has failed to make it onto his party’s shortlist in the race to take on Sadiq Khan for mayor of London. The upset saw the minister for London – widely thought of as the likely Tory favourite – snubbed in favour of assembly member Susan Hall, former No 10 advisor Daniel [...]