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Britain’s electricity generators will face pressure from ministers to invest their “extraordinary profits” in new green energy projects, rather than paying out the windfall to shareholders. Some have made huge profits from surging electricity prices that have risen in line with the soaring cost of gas, even if the power they produce comes from renewables

Liz Truss on Wednesday vowed to do “all that I can” to help households struggling with the cost of living crisis, in a change of tone that her Tory leadership rival Rishi Sunak described as a “major U-turn on the biggest issue facing the country”. The foreign secretary has said she favours tax cuts over

For months ministers have been insisting British households and businesses have no reason to fear the possibility of gas shortages or the lights going out this winter. But with most of the focus of the energy crisis so far on how consumers will cope with soaring energy bills, Kwasi Kwarteng, the business secretary, has had

Federal prosecutors have charged an Iranian national with plotting to assassinate John Bolton, Donald Trump’s former national security adviser, on US soil. The US Department of Justice said it believed 45-year-old Shahram Poursafi, a member of Iran’s elite Revolutionary Guards who also goes by the name Mehdi Rezayi, had attempted to arrange a “murder for

The US consumer price index rose by 8.5 per cent year-on-year in July, a slower annual increase compared to June, as inflationary pressures eased on the back of lower petrol prices. CPI data released on Wednesday showed no increase between June and July, compared to a 1.3 per cent monthly increase recorded a month ago.

If only Britain had had a Conservative government for the past decade instead of the crypto-socialists who botched everything, including Brexit. Ever since his resignation last year, David Frost, Boris Johnson’s Brexit negotiator, former cabinet minister, peer and latterly ferocious evangelist of the lost creed of true Toryism, has been compiling a charge sheet against

SoftBank expects to post a gain of more than $34bn by turning over a chunk of its holdings in the Chinese ecommerce group Alibaba, marking a historic shift in the Japanese group’s relationship with its best-known investment. SoftBank had made a series of complex derivative deals that allowed it to raise cash while retaining the option

Perhaps we need a new rule. When a politician complains that regulators are being too slow, too cautious or a bit of a “dog in the manger” about overhauling insurance rules for the glorious benefit of Brexit Britain, they should be asked to explain the issues involved. Rather as political wannabes are regularly asked to

In the first lockdown, I became trapped. Inside my head. Stuck indoors, work was intense; so was home-schooling. Thoughts piled up, with no release. At the end of the working day, often late at night, I would take a short walk to clear my mind, keys clutched between my fingers in case of an attacker,

Asian equity markets fell on Wednesday as investors braced themselves for the latest US inflation data, which are expected to shape the pace of future monetary tightening by the Federal Reserve. Hong Kong’s Hang Seng index shed as much as 2.2 per cent, while China’s CSI 300 benchmark of Shanghai- and Shenzhen-listed stocks declined up

Fourteen years ago, I told a well-informed friend that Barack Obama was considering picking Joe Biden as his running mate in the 2008 election. “You’ve got to be kidding,” came the riposte. “Biden is way past it.” Similar obituaries were being penned only two weeks ago as Biden’s poll numbers dropped below even Donald Trump’s

Donald Trump cried foul on Monday after FBI agents searched his residence at the Mar-a-Lago club in Florida, while his fellow Republicans have rushed to defend him as a victim of judicial persecution. The execution of a search warrant at the former president’s home has highlighted the extent of the legal troubles that have engulfed

The writer is UK economist at Morgan Stanley With inflation higher than it has been in decades, there is no shortage of critics of the Bank of England. Still, the bulk of the blame seems largely unfounded. The BoE has been criticised for being too slow to raise rates and doing too little since. But

Elon Musk has taken advantage of a recent rebound in Tesla’s stock price to sell $6.9bn worth of shares in the electric carmaker since the end of last week, according to a series of regulatory filings late on Tuesday. The sales are the first since the Tesla and SpaceX chief executive sold $8.5bn of stock

Liz Truss, frontrunner in the Conservative leadership contest, has rejected business pleas for her to meet prime minister Boris Johnson and rival Rishi Sunak to “agree a common pledge” on tackling the cost of living crisis. Speaking in Darlington on Tuesday during the latest hustings in front of party members, the foreign secretary pushed back

Game developer Roblox became the latest company in the video game industry to report a slowdown in growth, with a drop in a closely watched sales metric triggering a share price tumble in after-hours trading. The company, whose eponymous platform helps players design their own games, went public through a direct listing in March 2021,

Liz Truss is facing an early fight with the Bank of England if she becomes the next UK prime minister after signalling she will give ministers powers to override City regulators seen to be holding back post-Brexit reforms. The foreign secretary has vowed to press ahead with a law allowing ministers to “call in” regulatory

Global equity markets had modest declines at the open on Tuesday, with traders awaiting US inflation data that would inform the Federal Reserve’s plans to tackle inflation. Europe’s benchmark Stoxx 600 opened down 0.1 per cent and Germany’s Dax index lost 0.3 per cent in early trading. The FTSE 100 traded flat. Trading was also

The typical household energy bill in Britain is forecast to soar to £4,420 next April, more than three times the level it was at the start of 2022, stoking calls for increased state support for families facing energy poverty. But why has Britain’s energy price cap, which dictates a maximum that suppliers can charge the

Carlyle Group’sousted chief executive Kewsong Lee asked for a pay package worth up to $300mn over five years and resigned from the US private equity group after its co-founders refused to even discuss the deal, multiple people with knowledge of the matter said. Lee crafted the deal during negotiations with his consultants and Carlyle this