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.
Upbeat earnings fail to turn investors’ eyes from steep US technical recession July 28, 2022 A string of upbeat earnings was not today enough to cushion City investor jitters over a slowdown in the US economy. London’s premier FTSE 100 index dipped 0.04 per cent to 7,345.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.1 per cent [...]
Millions of Brits can no longer afford the gym as energy bills and inflation eat away their budgets July 28, 2022 Almost 1 in 5 Brits can no longer afford fitness services, according to new research shared with City A.M. this afternoon. No longer being able to afford them is the number 1 reason Brits cancel fitness products and services, according to recent research by Myprotein. In a survey of over 2,000 UK adults, Brits were [...]
US plunges into technical recession as rest of world braces for similar fate July 28, 2022 The US economy has plunged into a technical recession in a sign of things to come for the rest of the world, figures published today revealed. The American economy unexpectedly shrank 0.9 per cent in the three months to June, marking the second successive quarter the economy has contracted, meeting the common definition of a [...]
Energy bosses must be wise to the coming tide of public anger July 28, 2022 ONE OF a City chief exec’s key jobs is horizon scanning. For those in the energy sector, should they be finding their forecasting glasses a little fogged up, we’ll help: you’re about to become the least popular companies in Britain. It is hard to over-egg how painful energy bills could become this winter, with predictions [...]
Meta: Instagram owner has first ever fall in sales revenue but monthly Facebook usage grows July 28, 2022 Facebook and Instagram owner Meta had its first ever drop in sales revenue in the first time in its history. The social media giant’s revenue stood at $28.2bn in the first three months up to June this year, down from $29bn in the same period last year, marking a one per cent fall. The Mark [...]
Tsunami of new customers: 200,000 households flock to British Gas as competitors are wiped out but profits nearly halve July 28, 2022 British Gas welcomed more than 200,000 customers as some of the energy giant’s rivals went out of business in the first six months of the year. The business gained 158,000 new accounts when it took over the responsibility to sell gas and electricity to Together Energy’s customers. Together was one of around 30 suppliers that [...]
Exclusive: Industry body urges Tory leadership contenders to back fracking July 28, 2022 The UK's leading onshore energy body has called on the two Tory leadership contenders to lift the moratorium on fracking.
Sunak’s pledge for VAT cuts on energy bills only a short-term solution to energy crisis, warns IFS July 28, 2022 Scrapping VAT on energy bills should only be a temporary measure to ease costs for struggling households, argued the IFS.