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The owner of Britain’s largest electricity distribution network Western Power Distribution has agreed to pay £14.9mn after it was found to have let down vulnerable customers on a number of “totally unacceptable” fronts. Energy regulator Ofgem announced the settlement on Wednesday after a probe launched in 2020 into whether the company had been meeting its
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Good morning. We’ve written before that if inflation is going to subside peacefully, workers have to enter the workforce. We got bad news on that front yesterday: quits and job openings rose in March. If the Fed still needed a reason for a 50 basis point increase and a swift reduction in the balance sheet,
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Good morning and welcome to Europe Express. French president Emmanuel Macron is expected to hold a big, Sorbonne-style speech on the future of the EU next week — but that didn’t stop other European politicians from putting their ideas forward. We’ll bring you up to speed with what Italy’s Mario Draghi and Austria’s foreign minister
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Two of Roman Abramovich’s longstanding associates are set to keep their jobs running Chelsea Football Club if the leading bidder, a consortium led by US financier Todd Boehly, prevails. Chelsea’s chair Bruce Buck, 76, and director Marina Granovskaia, 47, have been offered the option to stay in place under Boehly’s ownership, three people with knowledge
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BlackRock has launched two exchange traded funds that invest in areas that the firm thinks will accelerate the economy. The iShares Blockchain and Tech ETF (IBLC), seeks to track the NYSE FactSet Global Blockchain Technologies index and is composed of companies that are involved in the “development, innovation and utilisation of blockchain and crypto technologies”,
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It was an event that signalled a striking shift in South Korea’s corporate scene: a millennial fund manager taking on senior executives of one of the country’s leading entertainment companies in a YouTube debate put on for the nation’s growing army of retail investors. Thirty-five-year-old Changhwan Lee, who left private equity group KKR last year
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On Monday morning, with volumes thinned by the UK’s bank holiday, Citigroup briefly crashed the European market. Nearly two trading days later, we’re still struggling to figure out how. Citi has placed the blame on one unfortunate in its London office, saying a unidentified trader “made an error when inputting a transaction”. As excuses go,
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