Ditching net zero is a colossal act of self-harm for our economy and global vision August 2, 2022 Amidst the politicking that inevitably surrounds any leadership race, a handful of Conservative MPs have demanded a review of our commitment to achieve net zero greenhouse gas emissions by 2050. These calls betray a fundamental misunderstanding of the wider benefits of decarbonisation to UK interests and the global momentum towards net zero. More than 130 [...]
Winging it: Chicken supplies set to remain tight while KFC warns of shortages August 1, 2022 Chicken supplies are set to remain tight across the country, a report has cautioned, amid reports of KFC preparing to run out of stock of certain chicken items. High street staple KFC warned staff in a memo last week that supplies of chicken on the bone were among items running low, The Sun reported. KFC [...]
Brits struggle to cut back as inflation eats into budgets August 1, 2022 Brits are struggling to find any more areas of spending to cut back on to keep their finances above water, a new survey published today reveals. Over one in 10 households will have nothing else to slash from their budgets when the October energy price cap hike lands, according to a survey by Legal and [...]
Sky-high inflation slows UK private sector economy to ‘standstill’ August 1, 2022 Consumers reacting to scaling prices by cutting spending is expected to grind the UK economy to a halt, new surveys published today revealed. Private sector firms think they will squeeze out zero growth over the next three months, according to the Confederation of British Industry (CBI), the country’s largest business lobby group. Businesses are beginning [...]
Exclusive: EV charging firm Pod Point expects supply chain issues to die down soon August 1, 2022 The supply chain issues that have plagued the automotive industry over the last year will die down within the next 12 to 18 months, said Erik Fairbairn, chief executive of electric vehicle charging provider Pod Point. “I really think that supply chain issues could last [between] 12 and 18 months but they are short-term in [...]
Water sector debt risks market crisis warns watchdog July 31, 2022 Water utilities loaded with debt are at a growing risk of collapse as interest rates rise, argued David Black, chief executive of Ofwat.
Week ahead: City braces for biggest Bank rate hike since independence July 31, 2022 The City will this week be bracing for what could be the steepest interest rate rise since February 1995. London’s premier FTSE 100 index posted a strong performance last week, climbing just over two per cent to 7,423.43 points. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Ringfencing risks driving up energy bills, warns Cornwall Insight July 30, 2022 The cost of ringfencing consumer credit balances will risk adding more costs to bills "at a time when consumers can ill afford them" says Cornwall Insight.
More than 3m UK households now live in fuel poverty as fears grow this number will double July 29, 2022 The chairwoman of the Committee on Fuel Poverty, Caroline Flint, said this morning close to 3.2m households are living in fuel poverty according to official statistics. “But those statistics were before these price increases happened and there are a number of organisations – National Energy Action and others – who are predicting it could double [...]
Exclusive: OEUK defends windfall tax’s investment relief and calls for domestic energy ramp-up July 28, 2022 The UK's leading industry body for offshore energy has defended the continued inclusion of investment relief within the windfall tax.