Electricity bills will be frozen for British households under new plan that can cost £130 billion.
Liz Truss completed plans for a new system which will prevent sudden rise in energy price cap since October. policy could cost as much as £130 billion over in next 18 months, according to Bloomberg.
price cover was due jump 80 pcs. up to £3548 per annum year from October. But new measure will see price cover effectively scrapped.
Instead, the government will set a new price paid by households. It will probably be in or below in current price lid of 1971 pound sterling.
5 things to start your day
one) JP Morgan plans to move work from Germany to London as blackout fears rise Wall Street bank preparing a raft of emergency measures so that it can continue trading if there is power outages this winter.
2) TalkTalk weighted down on debt how Sir Charles Dunston seeks sales budget the broadband provider was warned by its auditor that the presentation of its accounts on going concern is becoming increasingly risky.
3) Instagram fined 405 million euros for sharing children’s email addresses and phone numbers Number of affected children undisclosed, but considered in in millions taking into account the common European nature of violation.
4) aston martin sells shares discounted 78 pcs. in shore bet up business – luxury car brand plans raise £576 million to pay down a little of this is debt
5) I would have to charge £100 for a steak to cover my energy bills, says Gaucho chief The CEO said that the incoming prime minister must act quickly to help businesses that see their profits wiped out out.
What happened overnight
Hong Kong shares fell up a little in in first A couple of minutes of trading this morning, with Hang Seng index is ticking up 0.2 pcs.
The Shanghai Composite index rose 0.3%, while the Shenzhen Composite index rose 0.3%. on China second exchange added 0.2 pcs.
Tokyo stocks open lower in depressed trade, with a few fresh market-moving events after holiday for US exchanges. The underlying Nikkei 225 was down 0.2 pcs.
Coming up today
Financial: NCC Group (full-year results)Ashtead Group, Capricorn Energy (intermediate)Berkeley Group, D.S. Smith (Trade statement)
Economy: PMI in construction (GREAT BRITAIN)PMI services (US)composite PMI (US)factory orders (Ger)