No ‘capacity’ for Ed Miliband’s warm homes plan, says British bank boss June 2, 2026 A UK banking chief has warned the government does not have the “capacity” to meet its ambition to transition millions of homes to low carbon-heating technologies. Nigel Terrington, the boss of specialist lender Paragon Bank, said Labour faced an “operational capacity constraint” in its bid to implement its warm home plan. The £15bn initiative, which [...]
Neil Woodford criticises BP board for ousting ‘shouty’ chairman May 30, 2026 Once-renowned investment manager Neil Woodford has criticised the BP board for ousting its ‘shouty’ chairman after less than a year in post. Woodford called out the oil giant’s board for removing Albert Manifold after just eight months in the job, noting that he is the third chairman the company has been through in three years, [...]
Reeves’ savings package to have minimal impact on inflation rise May 29, 2026 A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off [...]
Natwest and Barclays sweeten mortgage costs as Iran peace hopes ease interest rate fears May 29, 2026 Natwest and Barclays have become the latest lenders to sweeten up their mortgage deals, as hopes remain high that a peace deal will be reached in the Middle East that would bring calm to the interest rate environment. Both lenders have unveiled reductions in mortgage rates, with Barclays cutting its rates across the board by [...]
‘Enough to keep investors interested’: SSE charges up UK investment May 28, 2026 SSE hailed a record year of investment as it aims to end UK dependence on global volatile energy markets. The electricity infrastructure company invested £3.6bn in the 2025/26 financial year, up from £2.9bn the prior year, as it looks to ramp up the UK’s electricity grid and create lower energy bills. The FTSE 100 group [...]
BP chair Manifold hits back at ‘false’ misconduct claims May 27, 2026 BP’s ousted chair has hit back at the group’s decision to fire him over governance issues, launching a robust defence of his short-lived tenure on the supermajor’s board and rejecting the “false narrative” surrounding his sudden departure. In a move poised to plunge the London-listed energy giant into a full-blown governance crisis, Albert Manifold defended [...]
Energy price cap to jump 13 per cent this summer May 27, 2026 UK households will be hit by a sharp £200 rise in energy bills next month, leaving Brits bracing for a painful winter of higher bills off the back of the Iran war. From 1 July to 30 September the annual energy price cap will be £1,862 per year, up from the current cap of £1,641, [...]
Crude language is the least of BP’s Manifold problems May 27, 2026 Yesterday saw the ousting of BP chair Albert Manifold after less than one year in the role. According to various media reports, Manifold was “shouty” and “aggressive”, with a “volcanic temper”. But try as it might to escape crude language, BP’s board may soon suffer similar missives from its shareholders after another c-suite scandal left [...]
BP chair ousted over ‘volcanic’ behaviour after less than a year May 26, 2026 The chair of BP has been fired after less than a year, after “serious concerns” about his conduct were lodged with the energy major’s board. Albert Manifold was stripped of his roles as chair and director of the London-listed petrochemicals giant having only taken the reins last July, with director Amanda Blanc saying the board [...]
Investment firms anticipate surge in renewable energy spending May 21, 2026 UK investment firms are expecting a sharp surge in financing for renewable energy projects once an end to the conflict in the Middle East is reached, after it triggered one of the worst rises in oil and gas prices in years. Over 85 per cent of firms, accounting for roughly £5.5 trillion in assets under [...]