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Government Expands Energy Support Scheme to Aid More Large Businesses from 2027

The UK government will expand its energy support scheme from April 2027, aiding 10,000 energy-intensive businesses with bill reductions amid rising oil and gas prices, though critics say more comprehensive measures are needed.

3 min read

Bank of England Governor Cautions Against Rushing Interest Rate Hikes Amid Energy Shock

Bank of England Governor Andrew Bailey says the central bank will not rush interest rate hikes despite a major energy shock and IMF warnings amid the Middle East conflict.

4 min read

Jury Finds Live Nation, Ticketmaster Owner, Operates as Monopoly

A federal jury has determined that Live Nation, owner of Ticketmaster, operates as an illegal monopoly, potentially leading to business divestitures or separation from Ticketmaster.

1 min read

Investor Urges Administration for Thames Water Over Risky Customer Deal

Thames Water faces financial crisis with cash running out in 12 months. A Hong Kong investor urges administration to allow new bids, opposing lenders' debt write-off deal seeking leniency on pollution fines. Government and regulator Ofwat continue deliberations.

3 min read

Aberdeen Energy Firm Faces Risk of 100 Job Losses Amid Restructure

Spirit Energy in Aberdeen plans a major restructure, risking 100 jobs. The firm will split into two entities focusing on Morecambe carbon storage and East Irish Sea fields, with consultation ongoing.

1 min read

Kenya Raises Fuel Prices Sharply Despite VAT Cut Amid Iran Conflict

Kenya sharply raised fuel prices despite a VAT cut as the Iran conflict drives up global oil costs. The government faces fuel shortages and controversy over a substandard imported consignment.

3 min read

AA and BSM Ordered to Refund Learners Over Undisclosed Booking Fees

The AA and BSM driving schools must refund thousands of learners after failing to disclose mandatory booking fees upfront, following a CMA investigation that also fined Automobile Association Developments £4.2m for consumer law breaches.

2 min read

Ken Henry Urges 100% Windfall Tax on Gas Giants, Dismissing Their Claims

Ken Henry urges the Albanese government to impose a 100% windfall profits tax on gas giants, dismissing their claims of investment risks and advocating revenue use for nature repair and tax reform.

4 min read

Court Rules Gina Rinehart Must Share Part of Mining Royalties with Heirs

A court has ruled that Australia's richest person, Gina Rinehart, must share past and future mining royalties with rival heirs after a 13-year legal battle over the Hope Downs iron ore project.

3 min read

China Evergrande Founder Hui Ka Yan Pleads Guilty to Fraud Charges

Hui Ka Yan, founder of Evergrande, has pleaded guilty to fraud and other charges amid the collapse of the world’s most indebted property developer, highlighting the deep challenges in China’s property sector and ongoing legal proceedings.

3 min read

Fuel Prices Halt After 43 Days of Increases, RAC Reports

After 43 days of rising prices, petrol and diesel costs have stabilized due to a Gulf ceasefire reducing crude oil prices, though prices remain high compared to pre-war levels, says the RAC.

3 min read

IMF: UK to Suffer Largest Growth Slowdown Among Advanced Economies Due to Iran War

The IMF forecasts the UK will suffer the largest growth slowdown among advanced economies due to the Iran war, with growth cut to 0.8% in 2024 amid energy price shocks and inflation risks.

4 min read