Britain's big energy companies will offer to cut bills by up to 7% if the Government removes costly green schemes, the Sunday Telegraph reported. One proposal would scrap costs from the Energy Companies Obligation, causing bills to fall between 6% and 7%. The second would delay implementation of the plan by 18 months and allow a wider range of cheaper energy efficiency measures. The paper said the proposals could seize back the initiative for the energy companies, which include Centrica and SSE. They have been attacked for price rises. The Chancellor could announce a deal in his Autumn Statement, set for early December.
The Bank of England (BoE) is likely to raise its growth and employment forecasts when it releases its quarterly inflation report on November 13th, the Sunday Times said. Growth could reach 3% next year, a rate unseen since before the credit crunch and above the long-term average. The BoE is also set to bring forward its forecast for when unemployment will fall to its 7% threshold for beginning to consider an increase in interest rates. Economists expect the BoE to move the date from mid- 2016 to early 2016 or late 2015.
BT's Chief Executive told the Sunday Telegraph he had not overpaid for exclusive rights to show the UEFA Champions League. Gavin Patterson said the £900m price of the three-year deal was "what it was worth to us". The paper said BT's bid was almost twice that of BSkyB, which pulled out when it saw BT's offer. Patterson said claims by BSkyB and ITV, which also lost out on the rights, were to be expected after they failed to win. He added that shareholders approved of the deal, which was supported by a "business case".
Lloyds Banking Group could make a one-off gain of £400m in the first half of 2014 from a change to employees' pensions, the Sunday Times said. Pay rises will no longer mean bigger pensions at retirement and instead staff will be paid using their current salary, the paper said. Analysts at Investec calculated the potential gain for Lloyds and said it was an important reason for them upgrading the bank to "buy".
Consumers tightened their belts in October as the bad weather deterred shoppers from visiting high streets, the Mail on Sunday reported, citing Barclaycard figures. Total spending in real terms fell for the first time since March and was a contrast to September, when buoyant spending raised hopes of a consumer boom. In October, total spending rose by only 1.9% compared with 12 months ago - lower than the 3.2% rise in the Retail Prices Index. Some sectors did well. Restaurants had a strong month and DIY stores enjoyed double-digit percentage rises in spending.
Vodafone will increase its capital investment in the UK to more than £1bn to upgrade its mobile network across London, the Sunday Telegraph said. The Project Metropolis plan will extend 4G coverage to Vodafone's London customers. The paper said Vodafone is likely to outline the Metropolis project as part of its £6bn additional spending plan, called Project Spring, at its half-year results on November 12th. The £150m is on top of Vodafone's annual £900m UK capital spending.
Just one in ten people in Britain believe they are benefiting from the economic recovery, the Mail on Sunday reported, citing a survey. A third of people think the economy is recovering, but far less feel they are part of the upturn, the survey by accountants KPMG and housing charity Shelter said. Half said they would only start to feel that conditions were improving when their salaries began to rise. The paper said the poll of more than 4,000 British adults exposed the fragility of consumer confidence.
The Bank of England (BoE) is likely to raise its growth and employment forecasts when it releases its quarterly inflation report on November 13th, the Sunday Times said. Growth could reach 3% next year, a rate unseen since before the credit crunch and above the long-term average. The BoE is also set to bring forward its forecast for when unemployment will fall to its 7% threshold for beginning to consider an increase in interest rates. Economists expect the BoE to move the date from mid- 2016 to early 2016 or late 2015.
BT's Chief Executive told the Sunday Telegraph he had not overpaid for exclusive rights to show the UEFA Champions League. Gavin Patterson said the £900m price of the three-year deal was "what it was worth to us". The paper said BT's bid was almost twice that of BSkyB, which pulled out when it saw BT's offer. Patterson said claims by BSkyB and ITV, which also lost out on the rights, were to be expected after they failed to win. He added that shareholders approved of the deal, which was supported by a "business case".
Lloyds Banking Group could make a one-off gain of £400m in the first half of 2014 from a change to employees' pensions, the Sunday Times said. Pay rises will no longer mean bigger pensions at retirement and instead staff will be paid using their current salary, the paper said. Analysts at Investec calculated the potential gain for Lloyds and said it was an important reason for them upgrading the bank to "buy".
Consumers tightened their belts in October as the bad weather deterred shoppers from visiting high streets, the Mail on Sunday reported, citing Barclaycard figures. Total spending in real terms fell for the first time since March and was a contrast to September, when buoyant spending raised hopes of a consumer boom. In October, total spending rose by only 1.9% compared with 12 months ago - lower than the 3.2% rise in the Retail Prices Index. Some sectors did well. Restaurants had a strong month and DIY stores enjoyed double-digit percentage rises in spending.
Vodafone will increase its capital investment in the UK to more than £1bn to upgrade its mobile network across London, the Sunday Telegraph said. The Project Metropolis plan will extend 4G coverage to Vodafone's London customers. The paper said Vodafone is likely to outline the Metropolis project as part of its £6bn additional spending plan, called Project Spring, at its half-year results on November 12th. The £150m is on top of Vodafone's annual £900m UK capital spending.
Just one in ten people in Britain believe they are benefiting from the economic recovery, the Mail on Sunday reported, citing a survey. A third of people think the economy is recovering, but far less feel they are part of the upturn, the survey by accountants KPMG and housing charity Shelter said. Half said they would only start to feel that conditions were improving when their salaries began to rise. The paper said the poll of more than 4,000 British adults exposed the fragility of consumer confidence.
