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Clampdown on catch-up energy bills

Clampdown on catch-up energy bills

Image copyright Getty Images Energy firms will be banned from charging catch-up bills for gas and electricity used more than 12 months earlier, under the regulator’s plans. Customers who pay via direct debit often receive bills based on estimated meter readings. When an actual reading is taken, the company “back-bills” the customer for any shortfall […]

Imagination Technologies’ shares plunge after Apple ends contract

Imagination Technologies’ shares plunge after Apple ends contract

Image copyright Reuters Shares in UK chip designer Imagination Technologies have plunged more than 60% after Apple said it would end a deal to use its products. The US company uses the UK firm’s chip technology in its iPhones, iPads, and iPods under a licensing agreement. Apple’s royalty payments account for about half Imagination’s revenues. […]

Credit card interest ‘could be waived’ for longstanding debt

Credit card interest ‘could be waived’ for longstanding debt

Image copyright PA Credit card firms must do more to help millions of customers unable to clear debt, the financial regulator has said. The Financial Conduct Authority (FCA) has published proposals that could mean credit card companies cancelling any interest or charges in extreme cases. Firms would have to work more closely with people in […]

Lloyds Bank to shrink hundreds of branches in size

Lloyds Bank to shrink hundreds of branches in size

Lloyds Bank has announced plans to shrink hundreds of its branches in size, in some cases boarding up the old counter sections. The new “micro branches” will be staffed by just two people, who will help customers to use machines, including pay-in devices. Some of those being converted will be Halifax and Bank of Scotland […]

Sports Direct increases Debenhams stake to 16%

Sports Direct increases Debenhams stake to 16%

Image copyright Getty Images Image caption Sports Direct was founded by Mike Ashley Mike Ashley’s Sports Direct has raised its stake in High Street department store chain Debenhams. Regulatory filings show Sports Direct has now upped its interest in Debenhams stock from 13.38% to 16.09%. But instead of buying Debenhams shares outright, the sports firm […]

Chancellor Hammond leading UK trade mission to India

Chancellor Hammond leading UK trade mission to India

Image copyright AFP Image caption Philip Hammond says it is vital to do trade with vibrant economies Chancellor Philip Hammond will lead a business delegation to India next week to drum up trade as the UK begins the process of leaving the EU. He will be joined by international trade minister Mark Garnier and Bank […]

US tech firm Xilinx to invest in Edinburgh research base

US tech firm Xilinx to invest in Edinburgh research base

Image copyright Scottish government Image caption Nicola Sturgeon said the move by Xilinx Inc would create 12 new jobs and protect 30 existing roles in Scotland A US technology firm is to invest £3.8m in its specialist research centre in Edinburgh, Scotland’s first minister has announced. Nicola Sturgeon said the move by Xilinx Inc would […]

Insurer Lloyd’s of London confirms new Brussels subsidiary

Insurer Lloyd’s of London confirms new Brussels subsidiary

Image copyright Getty Images Lloyd’s of London says it will establish a new European subsidiary in Brussels to avoid losing business when the UK leaves the EU. The 329-year-old insurance market confirmed the plan as it released its latest annual results. “A subsidiary office will be opened in Brussels with the intention that it will […]

Bank of England considers palm oil for the new £20 note

Bank of England considers palm oil for the new £20 note

Image copyright Getty Images Image caption Plastic £5 notes will continue to use animal fat The Bank of England is to consider using palm oil in the production of the new £20 note, following criticism of the use of animal fats in the plastic £5. The new £20 note is due to be introduced by […]

US fourth-quarter growth rate revised up

US fourth-quarter growth rate revised up

Image copyright Getty Images The US economy grew faster than initially estimated in the final months of 2016, the latest figures show. The economy grew at an annualised pace of 2.1% in the fourth quarter of the year, the Commerce Department said, up from an earlier estimate of 1.9%. Consumer spending, which accounts for around […]