20 September, 2021
Rescue loans for gas suppliers
Energy suppliers, including Bulb - the UK’s sixth largest supplier - might need emergency bailouts just to keep the heating on this autumn. 4 smaller companies have already gone bust. The government is holding crisis talks this morning to discuss state-backed rescue loans. Why? Gas wholesale prices have skyrocketed 250% since January, with an especially steep hike since August.
Adviser view: “If a supplier fails, the energy watchdog, Ofgem, will make sure that household supplies continue and customers will not lose any money owed to them”
House prices level off
Asking prices for properties in the UK increased by just £15 in August, according to Rightmove. The average home now costs £338,462 when it first comes to market. 14% more hore homes were listed in the first 2 weeks of September, compared to the first 2 weeks of August, which could help to ease some of the competition between buyers.
Adviser view: “This data shows price growth slowing down, which was expected. We have also seen an increase in the number of properties coming on to the market, boosting supply and potentially reducing pressure on prices.”
Climate finance goals
Boris Johnson says there’s a 60% chance of raising $100 billion to help developing nations cope with climate change and transition to low-carbon technologies. This $100bn fund, raised from richer nations, is a key part of the COP26 climate summit in November. But the PM says it’ll be “tough” to secure the funding.
Sales of leggings, jogging bottoms and fleece are continuing to climb as workers return to the office, still clad in their elasticated waists. Employers are ripping up dress codes to allow more casual clobber in the workplace, according to HR experts. And retailers are tuned in; M&S recently announced it’s no longer selling suits at half of its stores.