Regulators clear British firms of gas price-fixing November 7, 2013 ENERGY regulator Ofgem and financial watchdog the FCA yesterday said they had found no evidence of gas market manipulation in Britain after concluding an investigation. A year-long probe into the wholesale gas market was kicked off after a whistleblower, Seth Freedman from price reporting agency ICIS Heron, made allegations of gas price-fixing. “It has been [...]
Energy switch enquiries lift Moneysupermarket November 6, 2013 SWATHES of customers looking to switch energy suppliers boosted Moneysupermarket.com’s revenue 25 per cent in the first few weeks of October. The company, whose website helps customers to compare insurance, utilities and energy prices, reported overall revenue growth for the third quarter to 30 September of five per cent. Moneysupermarket attributed the dramatic increase in [...]
Services PMI rockets to 62.5 – its highest for 16 years November 6, 2013 The UK’s services industry has seen a huge boost, with services PMI for October flying past expectations at 62.5 – the highest rise in activity since May 1997. Expectations were 60.4, from September’s 60.3. The sharp rise was supported by a strong increase in new work, with backlogs of work and employment both increasing markedly. [...]
What the other papers say this morning – 06 November 2013 November 5, 2013 FINANCIAL TIMES NHS chief says service bogged in law The NHS is becoming “bogged down in a morass of competition law” which is leading to higher costs and making it harder to reorganise services in the interests of patients, its chief executive said yesterday. Giving evidence to the health select committee, Sir David Nicholson suggested [...]
Water firms vow to keep bill rises below inflation November 5, 2013 WATER companies yesterday confirmed that they would not be raising prices above the inflation rate next year, after environment secretary Owen Paterson called for the industry to reconsider price hikes. In a letter to all of the major water firms, Paterson said the government is “encouraging water companies to look closely at any price increases, [...]
The end is near for Norway’s housing boom November 5, 2013 Norway's prolonged housing boom may be coming to an end according to Capital Economics. The London-based consultancy believes that a total collapse in house prices is unlikely, but the slowdown in the housing market suggests the economy may deteriorate more than had been expected. Annual Norwegian house price inflation fell from 8.4 per cent to [...]
Services PMI rockets to 62.5 – its highest for 16 years November 5, 2013 The UK's services industry has seen a huge boost, with services PMI for October flying past expectations at 62.5 – the highest rise in activity since May 1997. Expectations were 60.4, from September's 60.3. The sharp rise was supported by a strong increase in new work, with backlogs of work and employment both increasing markedly. [...]
Energy bosses under pressure as Centrica’s Laidlaw gives up bonus November 4, 2013 THE CHIEF executive of British Gas-owner Centrica yesterday vowed to forego his bonus if he is offered one this year, piling pressure onto his fellow big six bosses to follow suit in the wake of an ongoing row over fuel bills. Speaking at the CBI Conference, Sam Laidlaw said that he understood customers’ frustrations and [...]
Centrica boss pledges not to take bonus this year November 4, 2013 Sam Laidlaw, the chief executive of Centrica, has pledged not to take his bonus for this financial year. Speaking at the Confederation of British Industry, Laidlaw admitted public trust in the energy industry is at an all-time low. His promise, made as part of a debate on "Business Trust Under the Spotlight" responds to the [...]
Britain will prosper in a reformed Europe says Balls November 4, 2013 Ed Balls has just spoken for the first time at the Confederation of British Industry's annual conference. He stressed the importance of Europe to the UK's economy and the work Labour would do differently in 2015 – from tougher energy regulation to impartial investment in infrastructure. The shadow chancellor kicked off by saying that, although [...]