Ofgem under pressure as director quits role after price cap changes August 17, 2022 An Ofgem director has quit their role after the watchdog changed the methodology of the price cap, imposing hundreds of pounds on households.
Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
Bank of England to launch another jumbo rate hike to tame over 10 per cent inflation August 17, 2022 The Bank of England is set to launch a series of jumbo rate hikes to tame inflation that is beginning to be driven by domestic factors, City economists warned today. Prices climbed 10.1 per cent annually in July, the fastest acceleration since February 1982 and much higher than the Bank and analysts’ forecasts, according to [...]
Inflation overshoot spooks investors as FTSE 100 house builders tumble August 17, 2022 London markets were shaken today by concerns that inflation is firming in the UK as housebuilders suffered heavy losses on the prospect of more rate hikes. The capital’s premier FTSE 100 index dropped 0.27 per cent lower to 7,515.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Exclusive: Industry faces £50bn ‘ticking time bomb’ of record energy bills August 17, 2022 UK industry will suffer painfully high energy costs next year, fuelled by soaring wholesale costs.
Brits still working from home this winter facing hundreds more in energy bills August 17, 2022 The post-pandemic work from home honeymoon could end this winter with Brits having to pay hundreds more in energy bills to heat their homes. Research has shown it is cheaper for workers to go back to their desks, than to heat their homes while working in them, to the tune of almost £200 a month. [...]
Second smelter closes down as industry grapples with soaring energy bills August 17, 2022 The second European smelter in two days has announced it will halt production because of soaring energy costs.
One in three Brits will be unable to afford their heating bills next year warns charity August 17, 2022 Millions of Brits face a "winter of despair" where they will be unable to pay their energy bills, warned Citizens Advice.
The Conservative case for net zero is the only one that makes sense to cut our bills August 17, 2022 Only the Conservatives can meaningfully make the UK net zero without overzealous intervention.
Young watching seven times less broadcast TV than over 65s August 17, 2022 Young adults are watching seven times less broadcast TV than those aged 65+, according to new figures published today, as they continue to bypass traditional broadcasters and enjoy streaming services. While those aged 65 and over spend almost six hours a day enjoying broadcast TV, the average for people aged 16-24 is less than an [...]