Bank of England raises UK interest rate from 0.25% to 0.5%

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Motorists still ‘paying too much’ for fuel, says competition watchdog
Drivers are still paying too much for their fuel, with retail margins “significantly” above historic levels, according to the UK competition watchdog.The Competition and Markets Authority (CMA) said that the fuel market is still “failing consumers” a year on from its first report that laid bare the problems in the sector.It said that retailers’ fuel …
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Co-op Bank hails ‘landmark’ 2024 despite drop in earnings
The Co-operative Bank has revealed shrinking profits but hailed 2024 as a “landmark” year as it prepares to return to mutual ownership through its merger with Coventry Building Society.The banking group said it generated lower income and sustained higher costs, which dragged on its half-year earnings.It reported a pre-tax profit of £24.2 million for the …
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GB Energy to work with Crown Estate to develop offshore wind farms, says Labour
Britain’s newly created state-owned energy company, Great British Energy, is to partner with the monarchy’s property firm to help speed up the building of offshore wind farms.The Crown Estate owns the vast majority of Britain’s seabed, stretching up to 12 nautical miles from the mainland, and leases parts of it to wind farm operators.The Government …

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