The UK government has committed to provide up to £4.5bn to fund the takeover of the collapsed energy company Bulb by its rival Octopus. Bulb spent more than a year in a state-handled administration and its 1.5 million customers transferred to Octopus on Tuesday night. The Department for Business, Energy and Industrial Strategy said the […]
Lidl is being sued for £2.6m by a fruit and vegetable supplier that claims it was wrongly cut out of deals by the discount chain in a series of moves it alleges “destroyed our business”. Proctor & Associates, which once supplied Lidl with up to 57 different kinds of fruit and vegetable, has filed a […]
Breadcrumb Trail Links News Economy Opens the door for the Bank of Canada to pause in the new year Canadians learned the latest inflation figures Wednesday. Photo by Peter J. Thompson/National Post Article content Canada’s main gauge of cost pressures eased in November, suggesting the Bank of Canada’s relentless campaign of interest-rate increases is starting […]
Elon Musk is to resign as Twitter’s chief executive after the platform’s users voted for him to step down. The tycoon pledged to stop leading the social media group, which he acquired in a $44 billion deal less than two months ago, “as soon as I find someone foolish enough” to take over. Musk intends […]
People who quit the capital during Covid in favour of a quieter life in the country are searching for houses in London at the highest rate since the pandemic began. Brits are looking to make a return to the city after offices, pubs and restaurants reopened, according to online estate agent Rightmove. In stark contrast, […]
Journalists must be exempted from new data protection laws or there will be risks to freedom of speech, newspaper editors have warned ministers. The editors of The Times, The Daily Telegraph and the Daily Mail have written jointly to the justice and culture secretaries over a new code of practice drawn up by the information […]
London Heathrow is expecting business travel to account for a higher share of its traffic in 2023, as the corporate market has been “showing signs of recovery” in recent months. The UK hub airport said that business travellers made up 21.5 per cent of its total passenger traffic in the third quarter of 2022, which […]
Planned hikes in alcohol duty have been put off until August, afterJeremy Hunt decided to extend the current freeze a further six months. The chancellor was due to increase duty on beer, wine, cider and spirits by the annual increase in RPI on 1 February. This would have meant an average increase of 7p for […]
High street lender TSB has been slapped with a £48.65m by City watchdogs today for “widespread” failings during a 2018 IT update programme, which left millions of customers without access to banking services. In a statement this morning, the Financial Conduct Authority and Prudential Regulation Authority said the bank had failed to properly manage operational, […]
The government is extending the mortgage guarantee scheme, which helps buyers with small deposits get on the property ladder as higher borrowing costs threaten to put the brakes on the UK housing market in 2023. The scheme, launched in April 2021, was billed as a way of helping turn generation rent into “generation buy”. It […]