Financial news

• First Utility says newer energy firms will go bust

  08-07-2018 16:55
  Smaller suppliers operating ‘house of cards’ model that will collapse, says chief executiveA challenger UK energy company launched a decade ago has said newer, smaller suppliers are operating a “house of cards” model that will collapse and result in firms going bust.Colin Crooks, the chief executive of First Utility, said many of these energy firms were undifferentiated and exposed to volatility in wholesale prices. Continue reading...
  
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• Carney should heed employment experts before rate decision | Larry Elliott

  08-07-2018 12:09 via theguardian.com
  Bank of England – set for August rise – has been consistently wrong about labour marketThe message from the Bank of England has been clear: get ready for an August increase in interest rates. Modestly higher official borrowing costs are needed to prevent the economy from overheating.This, of course, is exactly what Threadneedle Street was saying three months ago. Back then it had convinced the City that a May rate increase was pretty much a done deal but then got cold feet as weak ec
  
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• BT bids farewell to the wrong man with the right plan

  08-07-2018 08:00 via theguardian.com
  Gavin Patterson didn’t play it safe as BT’s chief executive, but City analysts say he got more wrong than he got rightFortune favours the brave, they say – but only sometimes.No one could accuse Gavin Patterson, the outgoing chief executive of BT, of playing it safe during his time at the helm of the telecoms group. Continue reading...
  
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• ‘Daft’ insurance rules cloud UK’s sunny staycation trend

  08-07-2018 07:00
  As the heatwave continues, bookings for foreign holidays are in decline. Yet the industry fears new rules will punish Britain’s hotelsAfter two weeks of scorching sunshine, Britain’s B&Bs should be celebrating a staycation bonanza. Yet as millions head to the coast and countryside in the heatwave, hoteliers are cursing new government regulations they say will stop them showing guests a good time.The Package Travel Regulations – designed to protect travellers who book flight
  
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