The Night Time Industries Association (NTIA) have warned that the hospitality sector will lose more than “£2 billion in revenue” as the government are losing control of escalating strike action in December. Around 10 industry sectors are on strike this December which is affecting the NHS, civil servants, airports and rail. The rail strikes has hit the hospitality sector more so than any other...
An energy provided has paid out over £1 million to their customers who took part in a new pay not to play scheme, which is being trialled by National Grid. Octopus Energy customers have saved as much as £20 since it launched last month and 250,000 households took part saving an average of £4 each. The energy provider said on Twitter, “If everyone with a smart electricity meter in Great Britain...
RTE who are the French electricity network operator asked National Grid on Monday if they could cut their scheduled exports to the UK to cope with soaring demand between 8am and 9am this morning. In recent months France’s nuclear power supplies have been limited and today France suffered further output issues amid the freezing temperatures. Nuclear supplies have been hit due to delayed...
Rishi Sunak has put the Northern Ireland Brexit protocol bill on ice until the new year after private talks with Brussels paved the way for a new deal by February.Senior officials say the bill will not be returned to the Lords this year, giving negotiators time to thrash out new trade rules for a St Valentine’s Day agreement. The bill is designed to give Britain the right to unilaterally suspend...
The economy grew by 0.5 per cent in October after contracting the previous month when an extra Bank Holiday for the Queen’s funeral suppressed growth.The modest return to month-on-month growth in gross domestic product, the main measure of economic output, followed contractions of 0.1 per cent in August and 0.6 per cent in September. Economists had forecast growth of 0.4 per cent in October. The...
A restaurant has been forced to close after losing £50,000 to scammers who posed as officials after a fraud scare.As an experienced business owner, Natalia Ribbe had never imagined she would be the type of person to fall victim to fraudsters. But now Barletta, the popular restaurant she co-founded in Margate, has closed for good after it was targeted by a particularly devious authorised push...
Manufacturing will fall into a deep recession next year as the global economic downturn erodes demand, manufacturers have warned.More contraction is on the way after industrial output shrank by 4.4 per cent over the past year, according to a survey by Make UK, which represents manufacturers, and BDO, the advisory firm. This year’s fall reflects the boost to manufacturing in 2021 as the world...
UK power prices have hit record levels as an icy cold snap and a fall in supplies of electricity generated by wind power have combined to push up wholesale costs.The day-ahead price for power for delivery on Monday reached a record £675 a megawatt-hour on the Epex Spot SE exchange. The price for power at 5-6pm, typically around the time of peak power demand each day, passed an all-time high of...
The popular social media app TikTok has been sued by the US state of Indiana. Its attorney general Todd Rokita has accused TikTok’s parent company ByteDance of violating the state’s consumer protections laws. The state alleges that the app fails to safeguard young people and privacy. However, TikTok said it considers youth well-being in its policies and that it was confident it could...
The former head of disgraced German payment company Wirecard has gone on trial accused of involvement in the biggest fraud case in German history. Markus Braun, 53, presided over its meteoric rise from modest beginnings to one of Germany’s big banking beasts. Financiers and politicians were dazzled by Wirecard’s success until its equally spectacular collapse into ignominy. The setting...