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Sky News
Octopus Energy gains two million new customers in Shell deal
Shell has agreed to sell its household energy supply business in the UK and Germany to Octopus Energy.The deal means Octopus now has 6.5 million customers in the UK – and while this is short of British Gas, it makes it larger than virtually every other competitor in the market. Sky’s City editor Mark Kleinman …
Business
Business Live
Rooftop car park leisure hub plan set for approval
Plans to transform the roof of a landmark Chester multi-storey car park into a retail and leisure hub featuring silent cinemas, craft fairs, food and drink stalls look set to be rubber-stamped. Cheshire West and Chester Council’s planning committee meets on Tuesday where it is recommended to approve proposals for the new venue on the …
Business
Evening Standard
Property prices falling faster than expected as rate rises hit demand
The fall in house prices is picking up speed with values now dropping at their fastest pace since June 2009, according to new figures today.The average cost of a home was down a bigger than expected 5.3 per cent to £259,153 last month from their peak in August 2022, data from lender Nationwide revealed. The …
Business
Sky News
Direct Line to pay £30m to customers overcharged when renewing car or home insurance
Direct Line is set to pay £30m in compensation to customers who were overcharged when renewing car or home insurance.Last year, rules were imposed that meant existing insurance customers couldn’t be charged more than new ones. But the insurer admitted there was an “error” in implementing the Financial Conduct Authority’s regulations – meaning some Britons …
Business
Sky News
British factories suffer weakest month since May 2020 as orders shrink
British factories have suffered their weakest month since the early days of the coronavirus pandemic, with orders shrinking dramatically.The manufacturing purchasing managers’ index – a closely watched indicator of economic activity – has hit a 39-month low of 43.0. A score below 50 indicates contraction – and this is the 13th month in a row …
Business
Sky News
Bigger-than-expected fall in house prices
House prices fell by 5.3% in the year to August – a bigger-than-expected drop, according to Nationwide.This means the typical home is now worth £14,600 less than 12 months ago – with an average property price of £259,153. Nationwide’s chief economist, Robert Gardner, says the softening is “not surprising” – with interest rate hikes by …
Business
Sky News
Marmite maker accused of not co-operating with French food price curbs
The French finance minister has accused multinational firms – including one based in the UK – of not “co-operating” with measures to help curb stubbornly high food prices in the country.Bruno Le Maire hit out at Unilever, best-known for Marmite and Magnum ice creams, Kit-Kat maker Nestle and PepsiCo after claiming a victory in his …
Business
Sky News
HMV owner Putman edges closer to rescue deal for bulk of Wilko
The owner of HMV is finalising a deal to rescue the majority of Wilko’s operations, salvaging more than 8,000 jobs at the stricken high street retailer.Sky News has learnt that Wilko’s administrators, PricewaterhouseCoopers (PwC), began consulting the chain’s major creditors on Thursday on the terms of an agreement with Doug Putman. One source with financial …
Business
Sky News
Bank of England’s top economist issues warning over interest rate rises
The Bank of England’s chief economist has warned there is a risk of “unnecessary damage” being inflicted if interest rates increase too much.Huw Pill told a conference in South Africa he was wary about the impact on “employment and growth” resulting from potential future hikes in the battle to bring down inflation. It comes after …
Business
Business Live
Over £2m invested in energy transition projects by Wales & West Utilities
Gas infrastructure business Wales & West Utilities invested £2.2m over the last 12 months in energy system transition projects. A newly-published annual innovation report for 2022/23 reveals that the Newport-headquartered firm launched 19 projects across Wales and the south west of England. These were funded by an investment of £2.2m, which included £1.5m of Network …
Business
Sky News
Former Pru chief Fitzpatrick leads race to run St James’s Place
A former chief executive of Prudential is the leading candidate to become the next boss of St James’s Place (SJP), the FTSE-100 wealth manager.Sky News has learnt that Mark FitzPatrick, who was the Pru’s interim CEO for a period last year and spent more than two decades at Deloitte, the accountancy firm, has emerged as …
Business
Evening Standard
Bank of England must ‘see job through’ on inflation, says chief economist
Interest rate setters must “see the job through” on bringing high inflation back to target, the Bank of England’s top economist has said.Speaking at a research conference in Cape Town organised by the South African Reserve Bank, the Bank’s chief economist Huw Pill said while there was the risk of raising rates too far and …

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