English

Economics at belfasttelegraph.co.uk

Tuesday, Jan 24

09

Record Christmas sales at Primark boost revenues for owner ABF

The owner of Primark and Twinings has reported a boost in sales, as it said inflation has become less volatile and consumer spending proved to be more resilient than it expected.

Energy support and soaring debt interest sends public borrowing to new record

The mounting cost of the Government’s energy support schemes and soaring debt interest pushed state borrowing to another record last month as sky-high inflation and power bills took their toll.

02

Investigation into Zahawi tax affairs amid pressure on Sunak’s Government

Nadhim Zahawi is set to face an ethics inquiry into his tax affairs – as allegations against the Conservative Party chairman piled pressure on Rishi Sunak.

Reports of loan fee scams have jumped, says bank

Scams where victims are asked to pay fees upfront for goods or services such as loans that never materialise have surged, figures from Lloyds Bank indicate.

Holidaymakers warned to watch out for fake deals amid cost-of-living pressures

People booking holidays are being warned to watch out for scammers, amid concerns that cost-of-living pressures may push them towards taking more risks with their cash.

Ethical values must be integral to Whitehall, says standards watchdog

Strong ethical values must be “woven into every aspect” of the way government bodies and other public organisations operate, the Whitehall standards watchdog has warned.

Monday, Jan 23

20

Irish premier stresses hard border must be avoided as UK-EU talks continue

A hard border in Ireland must be avoided, the Irish premier has urged Rishi Sunak.

19

Plans for regional levelling up directors may be dropped, MPs told

Government plans to appoint a series of regional levelling up directors have been put on hold and may be abandoned altogether, MPs have been told.

London stocks move higher again after tech and retail gains

Tech and consumer retail stocks led the way as London stocks picked up where they left off on Friday with modest gains.

Elon Musk gives evidence on second day of Tesla tweet trial

Elon Musk has returned to federal court in San Francisco to give evidence in a class action lawsuit filed by Tesla investors alleging he misled them with a tweet.

18

Households could be paid to slash electricity use for second day in a row

Households could be paid to reduce their electricity use for two days in a row, it was revealed on Monday.

17

Whitehall watchdog to investigate appointment of BBC chairman amid Johnson claim

The public appointments watchdog is to investigate the selection of BBC chairman Richard Sharp amid concerns over his role in helping Boris Johnson secure a loan.

16

Microsoft invests billions in ChatGPT-maker OpenAI

Microsoft has said it is making a “multi-year, multibillion-dollar investment” in the artificial intelligence (AI) start-up OpenAI – the maker of ChatGPT and other tools that can write readable text and generate new images.

Midwives in Wales to stage eight-hour strike

Midwives in Wales are to stage an eight-hour walkout on the same day that thousands of nurses are also due to go on strike, it has been announced.

Spotify becomes latest tech giant to cut jobs, with 6% of workforce to be shed

Music streaming service Spotify has said it is cutting 6% of its global workforce, becoming the latest tech company to resort to lay-offs as the post-pandemic economic outlook weakens.

15

Good Energy, Utilita and Scottish Power ‘falling short’ on voucher support

The Government has called on Good Energy, Utilita and Scottish Power to help their prepayment customers claim £400 in support vouchers after naming them as falling short on sending the help out.

UK’s first self-driving electric bus unveiled

The UK’s first self-driving electric bus service has been unveiled as part of a project to explore “the art of the possible”.

Price cap could fall below £3,000 from April, Ofgem boss says

The energy price cap might drop below the £3,000 mark as early as April, the boss of Ofgem has said in a prediction that could save the Government billions of pounds.

14

Customers get up to 50% more cash for slashing electricity use in first live run

Households will be in the running for a bigger-than-normal payout on Monday night as the grid tries to encourage people to use less electricity to help manage demand.

Passengers face ‘crisis’ on railways as cancellations hit new high

Train reliability across Britain reached the worst level on record in recent weeks, with Avanti West Coast cancelling the equivalent of about one in five services.

13

BBC panel to examine any conflicts of interest over Sharp’s role in Johnson loan

BBC chairman Richard Sharp has asked for a scrutiny panel to examine potential conflicts of interest over his role in helping Boris Johnson secure a loan.

Bank launches offer of £200 to switch to its current accounts

Santander UK has launched a £200 switching offer in a sign that the battle to attract current account customers is heating up.

Metals trading firm Techemet sets up in Newry in £2m investment

Global metal trading business Techemet has made a £2.1m investment in Newry, citing its location between Belfast and Dublin as a major draw.

Tesco chairman ‘living in parallel universe’ warn producers in food pricing row

Food and farming chiefs have said they are “baffled” by suggestions from a boss of Tesco that some food firms may be using inflation as an excuse to increase prices further than necessary.

Physiotherapists in Wales to join pay strikes

Physiotherapists in Wales are to strike in the wider dispute over pay, it has been announced.

12

Ofcom to investigate BT’s customer contract information compliance

Ofcom has opened an investigation into BT’s compliance with its obligation to provide customers with clear and simple contract information before they sign up to a new deal, the regulator has announced.

EU and UK negotiators must be given ‘space’ to reach NI Protocol deal

UK and EU negotiators must be given space to find a resolution to the Northern Ireland Protocol impasse, Ireland’s deputy premier has said.

11

Ofgem vows to tackle ‘inappropriate energy supplier pre-payment meter practices’

Ofgem is to review the checks and balances energy firms have around placing customers on pre-payment meters, warning it will take further legal action if it finds they are not taking due care.

10

Saga in talks to sell insurance underwriting arm

Over-50s group Saga has confirmed talks to sell the underwriting arm of its insurance division to help pay down its debts.

Funeral firm Dignity swept up by investors in £281m takeover deal

Funeral firm Dignity has been swept up by a group of investors linked to its former chief executive in a takeover move worth around £281 million, as it cautioned investors over tumbling profits.