Ofgem demands suppliers refund customers overcharged on direct debits July 13, 2022 Ofgem has demanded six domestic energy supplies take action over customers' direct debits, including refunding overcharged energy users.
US inflation surge ‘nails on’ another Fed rate hike bazooka July 13, 2022 Prices are rising at the fastest pace in nearly 41 years in America, nailing on another huge rate rise by the US Federal Reserve larter this month. US inflation climbed to 9.1 per cent last month, smashing Wall Street’s expectations and up from an already historic level of 8.6 per cent, according to data published [...]
Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
The investment trust sector and the Four Horsemen – a review of Q2 22 July 13, 2022 Conquest and War – Russia’s invasion of Ukraine and the ongoing conflict between the two countries; Famine – at the very least the increased threat of global food shortages as supplies from Ukraine, the ‘bread basket of Europe’, increasingly become weaponised; Death – despite the roll-out of vaccines, Covid-19 continues to mutate and take lives [...]
Tax cuts won’t cut it; the new Tory leader must bring about innovation July 13, 2022 As I write, every candidate vying to be the next Conservative Party leader – with the exception of Rishi Sunak – has promised major tax cuts. In many ways this is welcome, as taxes can deter investment and increase the cost of living. During a time where families are struggling to make ends meet and [...]
Euro kisses parity with US dollar for first time in two decades July 12, 2022 The euro kissed parity with the US dollar for the first time in 20 years today. Fears of the Continent tipping into recession have strengthened recently due to bets that Russian president Vladimir Putin will choke energy supplies to the bloc. The currency used by 19 countries – soon to be 20 when Croatia adopts [...]
Octopus Energy to take on customers from collapsed firm as market crisis continues July 12, 2022 Octopus Energy has been selected by watchdog Ofgem to take on customers from another collapsed energy firm.
Markets have bigger things to worry about than a change in Number 10 July 12, 2022 Markets tend to be one step ahead of everyone else. Investors are always trying to identify new risks and limit their exposure to events that hurt stock markets. That forward-looking ethos probably explains why they ignored the upheaval in Number 10 last week. Boris Johnson’s position has looked wobbly for a while. Investors priced in [...]
It’s time businesses use their plethora of data to assist so many struggling costumers July 12, 2022 Whatever drama is unfolding in Westminster, tackling the cost of living remains consumers’ number one priority. There is still so much work to be done to help millions of people facing dire financial situations. The government has already announced new measures to support consumers, such as help with soaring energy bills. But it could go [...]
Number 10 says Johnson will not announce windfall tax on electricity July 11, 2022 Downing Street today said Boris Johnson will not extend the government’s energy windfall tax to electricity producers. There was speculation when the 25 per cent tax on North Sea oil and gas was announced in May that it would include electricity generators, including on wind farms and other green energy producers, however Boris Johnson’s official [...]