Explainer-in-brief: The problems with freezing the energy price cap August 25, 2022 In the UK, the energy price cap – decided by Ofgem – sets the maximum price you can be charged for kilowatt hour. In short, it doesn’t put a cap on how high your total bill can get, but it regulates how it is calculated. The cap is reviewed every three months. In response to [...]
Government must support UK science firms in shouldering cost pressures, says ABPI president August 25, 2022 The Government must help paint a positive picture for the pharmaceutical industry via increased support, so that CEOs feel encouraged to shoulder the cost pressures hitting the sector, the president of the Association of British Pharmaceutical Industry (ABPI) told City A.M. The industry is currently navigating staff shortages, inflation as well as dwindling investment, which [...]
Government is ‘running out of time’ to save British households from energy crisis August 25, 2022 The government is “running out of time” to save businesses and households from the inflation crisis, one of the country’s largest business groups has warned today. Policymakers should be launching measures now to shield Britons from the looming long recession, the British Chambers of Commerce (BCC) said today. The BCC has written to chancellor Nadhim [...]
Energy bosses rally around calls for crisis fund to support households August 25, 2022 Energy bosses are rallying around Scottish Power's call for a “tariff deficit fund” to ease the pain facing millions of Brits this winter.
Japan considers nuclear U-turn as winter crisis looms August 24, 2022 Japan will restart more dormant nuclear plants and consider building next-generation reactors, revealed Prime Minister Fumio Kishida.
Where will Ethereum PoW miners go post-merge? August 24, 2022 Tim Bullman, CEO of Caduceus Foundation, discusses the next move for Ethereum's proof-of-work miners after "The Merge".
Car chain Lookers profits dip as soaring costs throttle jump in sales August 24, 2022 Car dealership chain Lookers has reported a dip in profits for the first half of the year as soaring costs and supply strains offset a jump in revenue to £2.23bn. In a trading update today, bosses said that pre-tax profits fell from £50.4m in the first six months of last year to £49.9m in 2022, [...]
Iceland boss: Absence of government support on energy bills risks job losses and bankruptcy for firms August 23, 2022 Iceland boss Richard Walker has called on ministers to issue more support for businesses struggling with sky-high energy bills. Without a price cap on businesses’ energy bills, smaller firms would surely collapse, the supermarket’s managing director told CityA.M. An absence of further support for businesses was “really serious,” as the colder months approach, Walker said. [...]
Next winter’s energy crisis will be even worse, warns forecaster August 23, 2022 Next winter's energy crisis will be even worse than this year, unless the West makes fresh efforts to tame demand.
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]