6:36 am, June 30, 2023
Energy costs to fall from July 1 but bills still almost double pre-crisis levels
Households will pay less for their gas and electricity from tomorrow but bills will still be almost double the amount they were before the energy crisis began.
The average household energy bill will fall by £426 a year from July 1 after Ofgem dropped its price cap following tumbling wholesale prices.
The regulator is cutting its price cap from £3,280 to £2,074 in a relief for consumers who have seen typical bills soar from £1,271 a year in October 2021 because of the global gas crisis.
New chairman for troubled Thames Water
Thames Water has chosen a new chairman just two days after its chief executive stepped down amid serious questions over the debt-laden company’s future.
It came as the government tried to calm the waters by saying the utility company had ‘secure and committed’ funding, and reassured customers that their supply wouldn’t be interrupted.
Sir Adrian Montague, who was previously the chairman of Anglian Water, will take over the role on July 10, replacing Ian Marchant who announced in April he would step down when a successor was found.
Banks boost savings rates
HSBC UK and First Direct have unveiled boosts to savings rates.
Customers will see some savings interest rates increase from today, alongside a change to increase the higher-paying tier on the bank’s online bonus saver account.
Those with an online bonus saver account will be able to earn four per cent interest on up to £50,000, whereas previously they were only able to earn that amount on up to £10,000. HSBC said the change meant customers could potentially earn up to around £680 more annually in interest.
Google to remove news links in Canada
Google is to remove links to Canadian news on its platforms across Canada after a new law that forces digital giants to compensate media outlets for content they share or otherwise repurpose comes into force.
The tech giant said it will remove Canadian news links from Google News – a personalised aggregator service available by web or app that highlights local news – and from Google Discover, a feature on mobile phones that helps people find content.
Only Canadian news will be blocked, so Canadian users will still be able to see content from outlets such as Fox News or BBC, for example.
Prosecution to open case against Kevin Spacey over sex charges
Prosecutors are today set to open their case against Oscar-winning actor Kevin Spacey, who is charged with sex offences against four men.
The Hollywood star, who is on unconditional bail, has previously denied 12 charges, including sexual assault and indecent assault.
On Wednesday, a jury panel of 14 was selected to hear the prosecution’s opening speech at Southwark Crown Court. Christine Agnew KC is due to tell jurors about alleged offences between 2001 and 2013.
Aspartame sweetener to be listed as possible cancer risk by WHO – report
An artificial sweetener commonly used in thousands of products including diet fizzy drinks, ice cream and chewing gum is to be listed as posing a possible cancer risk to humans, according to a report.
Aspartame will be listed as ‘possibly carcinogenic to humans’ from next month based on the findings of the World Health Organisation’s International Agency for Research on Cancer, Reuters reported based on ‘two sources with knowledge of the process’.
Restricting private vehicles in cities reduces disease and injuries, study says
Lowering air pollution from traffic in cities through low emission zones (LEZs) and congestion charging zones (CCZs) has a measurable benefit to public health, scientists have said.
In multiple cities across the UK, Europe and Asia, there has been a decline in cardiovascular disease and road traffic injuries where restrictions have been introduced.
Through reviewing the available evidence on the health impacts of these measures, researchers from Imperial College London found LEZs reduce cardiovascular-related hospital admissions by lowering air pollution while CCZs, such as in the UK’s capital, cut the number of road injuries by having fewer vehicles.
South Koreans shed a year or two
South Koreans have become younger – after a new law that changes how people count their ages was adopted.
The country’s previous age-counting method made people a year or two older than they really are – with the change formalising the international method as standard in administrative and civil laws.
Previously, South Koreans turned one on the day they were born and gained another year when the calendar hit January 1, meaning someone born on December 31 turned two the next day.
Ferrari SF90 XX revealed as more extreme version of hybrid supercar
Ferrari has revealed a more aggressive, track-focused version of its SF90 supercar – the XX.
Using a 4.0-litre twin-turbo V8 engine mated to a small battery and three electric motors, revisions to both see a 30bhp uplift in power, pushing it to 1,016bhp – the most of any Ferrari ever.
That allows for a 0-60mph time of just 2.3 seconds, along with a top speed of 199mph. The cabin also gets a racier finish, with a stripped-down look, greater use of carbon fibre and Alcantara, plus a 16-inch display. It’s priced from around £650,000 – double that of a standard SF90.
Yesterday’s headlines on Car Dealer you might have missed
- Car dealer jailed for nearly three years for selling ‘unroadworthy’ vehicles which left drivers ‘lucky to be alive’
- Lamborghini is star fake listing on suspected used car con auction website Peter Scott
- Saxton 4×4 bosses thank ‘tireless’ staff after announcing record profits for 2022
- Lookers to spend millions on transforming Nissan dealership in Newcastle
- Renault Group upgrades financial outlook for year thanks to ‘record performance’
- Price cuts help Tesla take European crown for sales growth in May
- John O’Hanlon: In knowing your business, you’ve got to know the numbers
- Just one day left to book Car Dealer Live 2024 tickets at early bird prices
Market movements
The FTSE 100 closed 28.80 points down yesterday to end the day on 7,471.69. The Cac 40, meanwhile, was up 26.41 points at 7,312.73, the Dax was down 2.28 points at 15,946.72 and the Dow Jones was up 269.76 points at 34,122.42.
Weather outlook
The south-east of England will have a sunny start today but cloud will soon move in, according to BBC Weather. It’ll be cloudy elsewhere, with spells of rain for western and northern areas, falling locally heavy, and it’ll be breezy in the south.
Saturday will be windy for most. The far north will see blustery showers and spells of heavy rain. The west will also see some showers, but these will be lighter. It’ll be drier with sunny spells elsewhere.
