Friday newspapers: Rethinking the energy price cap raises fears of higher bills


Top stories

  • The daily telegraph: Ofgem has opened the door to a far-reaching relaxation of the rules on the price cap for energy, which would put millions of households at risk of sudden price increases.
  • The times: Inflation is rising faster than expected and will last longer than expected, said the Bank of England’s new chief economist.
  • Financial Times: BlackRock, the world’s largest asset manager, will enable large pension funds and other discerning institutional clients to vote directly at annual meetings on topics from board pay to climate change.
  • Financial Times: The head of the International Energy Agency said Russia has the capacity to send significantly more gas to Europe and ease the continent’s energy crisis.
  • Financial Times: Chinese Estates Holding, a Hong Kong-based real estate group, announced an offer to privatize the company after its stake in heavily indebted developer China Evergrande depressed its share price.

Business and economy

  • The times: Royal Dutch shell warned of a $ 400 million profit caused by Hurricane Ida
  • The times: The professional personnel consultancy Robert Walters has had a strong third quarter and predicts that the job market will remain “hot” for a long time to come.
  • The times: Checkout.com, one of Europe’s most valuable private companies, saw sales grow 73% in the UK and Europe last year as it benefited from the boom in online shopping.
  • The times: The paper and packaging company FTSE 100 Mondi reported a profit jump in the third quarter as it benefited from higher prices and strong demand.
  • The times: Pendragon has raised its outlook for this year after a stronger than expected performance in the summer.
  • The times: Workspace group, the commercial landlord, has reported an increase in rentals and office use after the lockdown as small and medium-sized businesses lead a return to work.
  • The times: Brewin Dolphin, one of the UK’s largest wealth managers, has abandoned a plan to move to new headquarters in the heart of the city due to the increase in flexible working hours among its employees following the Covid-19 pandemic.
  • The times: A slowdown in financial betting has halved income from risky derivatives. guided CMC markets, the city’s bookmaker.
  • The times: The mining equipment supplier Defense group expects its profits to be cut by as much as £ 40 million from a cyber attack, an update said.
  • The guard: Nestlé has said the supply chain crisis could affect shipments of some of its confectionery products in the run-up to Christmas.
  • The times: House prices rose at the fastest monthly rate since 2007, when stamp duty ended and people who spent more time at home continued to look for bigger properties in September.
  • The daily telegraph: Sky went on the offensive in the global streaming wars after signaling the beginning of the end of the satellite dish with Glass, a new smart TV with integrated Sky services and apps.
  • Financial Times: Short sellers earned more than 9% returns on their bets against star investment manager Cathie Wood’s flagship exchange trade fund in September.
  • The times: Investors in Zopa struggled to withdraw their money and see up-to-date statements as the result of a nine-day IT outage at the peer-to-peer lender.
  • The guard: NatWest must face a fine of up to 340 million
  • The times: An increase in customer complaints has forced Morse’s Club to withdraw the amount of money it has allocated to process compensation claims from borrowers who have drawn down its expensive loans.
  • The daily telegraph: Rising energy prices have forced Sanjeev Gupta to postpone plans to resume UK production at Liberty Steel as the higher costs would make its products hopelessly uncompetitive.
  • Daily mail: British Airways has reached an agreement with pilots on a possible short-haul subsidiary at Gatwick Airport.
  • The guard: The competition authority has closed its investigation into whether British Airways and Ryanair Broke the law by not offering refunds to customers who couldn’t legally take their flights due to coronavirus restrictions – but said airlines should have given them their money back.
  • The guard: MEPs have voted in favor of stricter rules for the super-rich moving their wealth overseas in an overwhelming vote that reflects widespread anger and desperation following the Pandora Papers revelations.
  • The daily telegraph: Ireland has been forced to abandon its low-tax business model due to pressure from Joe Biden, threatening the country’s status as a haven for global corporations.

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