Business Energy giant hikes capacity at UK’s largest gas storage facility to bolster winter power security June 30, 2023 Energy giant Centrica has increased capacity at the UK’s largest gas storage facility to boost resilience in the coming winter. The Rough site, located 18 miles off the East Yorkshire…
Business Mortgage rate hikes threaten a ‘significant drag’ on housing market, Nationwide warns June 30, 2023 Rising mortgage rates have yet to hit the housing market but threaten to be a “significant drag” in the short-term, Nationwide has said. However, the high street lender said “a…
Business Daily Telegraph parent close to turning page on £600m sale June 29, 2023 Bosses of The Daily Telegraph’s parent company will instruct bankers within weeks to launch an auction of one of Britain’s best-known newspaper publishers. Sky News has learnt that Nick Hugh,…
Business No emergency coal-fired power for National Grid to keep lights on this winter June 28, 2023 The National Grid Electricity Systems Operator (ESO) has confirmed it will have no coal-fired power as back-up this winter, if needed, to help keep the lights on. There were five…
Business Ryan Reynolds and Wrexham FC co-owner invest in F1 team in latest sporting venture June 26, 2023 Hollywood actors Ryan Reynolds and Rob McElhenney are investing in a Formula One team in their latest sporting venture. The Deadpool star, along with business partner and It’s Always Sunny…
Business Mortgage holders to get 12-month grace period before repossessions amid interest rate hike June 23, 2023 Mortgage lenders and Chancellor Jeremy Hunt have agreed that people should be given a 12-month break before repossession proceedings start amid soaring interest rates. After the rise of the base…
Business Inflation rate stays the same, rebuilding Ukraine and cybersecurity June 21, 2023 After UK inflation remained at the same level in May, Ian King reflects on the figures with HSBC economist Liz Martins. Managing director for operations at the World Bank, Anna…
Business Inflation rate rises are turning into a sticky phenomenon – and there are a few obvious consequences June 21, 2023 Not good. Not good at all. The last few months of inflation data have had a dreary and repetitive rhythm to them. Economists predict the rate at which prices are…
Business Insurance duo to unveil plan for £1bn listed Lloyds vehicle June 20, 2023 A pair of British executives are seeking to buck the trend of waning sentiment towards special purpose acquisition companies (SPACs) by establishing a £1bn listed vehicle for investors to access…
Business Google thinks it’s come up with a new way to use a tablet – does it work? June 20, 2023 As smartphone screens have got bigger, and laptops more powerful, tablets have gone through something of an identity crisis. Once pitched as an obvious middle ground between the computer in…
Business Mortgage pain is comparable to early 90s but worse is to come June 19, 2023 The cost of a two-year fixed rate mortgage has climbed above 6% while the equivalent rate on a five-year fixed rate mortgage has reached 5.67% but the headline figures belie…
Business Spotify executive criticises Sussexes in expletive-laden podcast June 19, 2023 A Spotify executive has spoken out about the scrapping of Harry and Meghan’s $20m (£15m) deal with the streaming service, calling the royal couple “f****** grifters”. Bill Simmons, who is…
Business Mortgage rates expected to rise to 6% – as PM rules out extra help for struggling households June 19, 2023 The prime minister has declined to back extra support for mortgage holders despite higher interest rates making payments more expensive – and a further rise in rates expected. Asked if…
Business Mortgage crunch: Annual repayments set to rise by almost £3k next year June 17, 2023 Annual mortgage repayments are set to rise by £2,900 for the average household remortgaging next year, according to a think tank. As the UK’s “mortgage crunch” deepens, total annual mortgage…
Business Energy bill support took too long to reach consumers most in need – MPs committee June 15, 2023 Millions of people were left waiting too long for energy support due to a lack of government “bandwidth”, according to a report from the cross-party Public Accounts Committee. More than…
Business National Grid to keep blackout prevention scheme for coming winter June 15, 2023 The operator of Britain’s electricity system says it is to keep a scheme that aims to help prevent blackouts for the coming winter. National Grid ESO said it was “prudent…
Business Mortgage payers face largest home loan squeeze since early 1990s housing crash | Ed Conway June 14, 2023 Mortgage payers taking out new loans today are now facing the biggest home loan squeeze since the early 1990s housing crash, with the pain only set to worsen in the…
Business Singapore state fund to lodge £4bn bid for Center Parcs June 14, 2023 A Singaporean sovereign wealth fund has joined the list of suitors vying to take control of Center Parcs, the UK’s biggest chain of upmarket holiday resorts. Sky News has learnt…
Business Energy firm ordered to pay £8 to 500,000 customers over service failures June 14, 2023 Household supplier E.On Next has been told to pay £4m back to its customers following a review that found customer service weaknesses at every company in the sector. Ofgem ordered…
Business Microsoft’s £55bn Activision takeover blocked by US court pending hearing June 14, 2023 A US regulator has succeeded in a bid to temporarily block Microsoft’s £55bn takeover of video game maker Activision Blizzard, preventing the deal being completed this week. The Federal Trade…