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Evening Standard
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 …
Business
Evening Standard
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 …
Business
Sky News
Treasury expected to uncover £20bn hole in public finances, Sky News understands
A Treasury audit is expected to reveal a £20bn black hole in public spending, Sky News understands.Chancellor Rachel Reeves is due to give a speech on Monday when she is expected to reveal the state of the public finances and potentially prepare the ground for tax rises in the autumn. A Labour source told Sky …
Business
Sky News
Fuel prices remain a rip-off, competition watchdog declares
Competition among fuel retailers is “failing consumers” because drivers are still paying too much to fill up, according to regulators.In an update on its monitoring of the fuel market, the Competition and Markets Authority (CMA) said the cost to all motorists from the previously identified increase in retail fuel margins since 2019 was over £1.6bn …
Business
Sky News
Apollo swoops for parcel delivery giant Evri in £2.7bn deal
The private equity giant Apollo Global Management is on the brink of a deal to buy Evri, the British parcel delivery company, in a £2.7bn deal.Sky News has learnt that Apollo has seen off competition to acquire the company from rivals including JD.com, the Chinese internet group, and DHL. The deal could be announced as …
Business
Euro News
Dutch companies receive investment to develop tidal energy in Wadden Sea region
Business
Sky News
Ex-business secretary Vince Cable accepts ‘share’ of responsibility at Post Office inquiry
Sir Vince Cable has told the Post Office inquiry he accepts a “share” of responsibility for failures that enabled the wrongful convictions of sub-postmasters to continue unchecked.The former Liberal Democrat leader, who had the role of business secretary for five years from 2010 to 2015, said there was “clearly a policy failure” under his watch …
Business
Business Live
Lloyds Banking Group sees profit decline amid rising costs and interest rate challenges
Lloyds Banking Group has reported a drop in profit for the first half of the year, following a surge in costs and a decline in revenue generated from interest rates. The group, which is comprised of Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows, recorded a pretax profit of £3.32bn for the six months …
Business
Evening Standard
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 …
Business
Evening Standard
Whizzy deals are part of a pattern at Nationwide
Nationwide is offering a new mortgage deal at 3.99% — a tasty offer that one hopes rival banks will try to follow.But wait, it’s not as good as it seems.For a start the five-year deal is only available to those with a 40% deposit – it does nothing for people, like first-time buyers, who don’t …
Business
Sky News
Biggest US tech sell-off for over a decade reflects impatience over AI profits
The Nasdaq and S&P 500 have suffered their worst single-day decline since 2022 – led by underwhelming financial results from Tesla and Alphabet, the owner of Google.The sell-off points to wider concerns surrounding the high valuations of a handful of tech giants, and how vulnerable the wider US market is to their fate. The so-called …
Business
Evening Standard
British Gas owner’s profits fall from record highs amid more ‘normalised’ market
British Gas owner Centrica’s profits have fallen back after they hit record highs during the energy crisis, as it said the UK was moving to a “more normalised” gas and electricity market.Centrica said underlying earnings in its British Gas household supply arm slumped to £159 million in the six months to June 30, from £969 …

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