Westminster committee sticks the boot into Ofgem as households suffer record energy bills July 26, 2022 MPs have raised doubts over Ofgem’s ability to clean up the energy market, following mass carnage which saw over 30 suppliers collapse.
Reckless greenwashing has tarnished faith in the private sector’s role in social issues July 26, 2022 AFTER the past month anyone might be forgiven for struggling to remember what last year’s biggest priorities were. While political attention has been whisked away from the stark problems we face, those problems have not helpfully agreed to go on standby. If anything, they have intensified – and nowhere is this more evident than the [...]
4,500 TSB staff to be given £1,000 payment to weather cost-of-living crisis July 25, 2022 Around 4,500 staff at TSB are to be given a £1,000 payment after the high street lender became the latest firm to announce payouts to help employees weather the cost-of-living crisis. The payment will be made to all staff at the bank earning £35,000 or less and will be made in two stages – one [...]
National Grid blames fires and tight markets for desperate supply scramble amid heatwave July 25, 2022 Tight markets and fires in East London forced the National Grid to pay record prices for energy from Belgium to prevent power outages.
Travel rebound buoying demand at Rolls-Royce, chief says July 24, 2022 The outgoing boss of Rolls-Royce Warren East said a rebound in air travel after covid was buoying demand at the jet-engine maker as he issued a bullish outlook for aviation in the face of a global recession.
Green levies are a form of defence spending to ease Russia’s hold on our energy market July 22, 2022 SINCE Boris Johnson announced he would resign, the Conservative party split itself into different camps for their leader. Now we have the final two: Rishi Sunak and Liz Truss. After an ideologically-light leader, the party has tried to reshape itself over its policy on tax cuts and the cost of living. On the one hand, [...]
Centrica granted licence to reopen UK’s largest gas storage site as winter crisis looms July 21, 2022 Centrica has been awarded a licence to reopen the UK's largest gas storage site, boosting plans to shore up domestic energy supplies ahead of winter.
European Central Bank marks first rate rise in over a decade with shock 50 basis point move July 21, 2022 The European Central Bank (ECB) today marked its first interest rate rise in over a decade with a shock 50 basis point move. The biggest inflation surge in the eurozone since the creation of the single currency in 1999 forced President Christine Lagarde and co to launch the bigger hike. The Continent’s monetary authority has [...]
Octopus Energy submits the only bid for collapsed supplier Bulb Energy after auction process July 20, 2022 The Government is weighing up Bulb Energy's future after the auction process for the fallen energy firm attracted just one bid.
Martin Lewis warns government of ‘financial time bomb’ as cost of living crisis worsens July 20, 2022 Martin Lewis warned the government of a “financial time bomb” due to explode in September as the UK’s cost of living crisis intensifies. The founder of MoneySavingExpert.com issued an “open video letter” to the current Conservative Party leadership candidates and warned of even higher energy costs and civil unrest as the UK struggles with record [...]