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Most will end up paying an extra £3.50 a month – or £42 annually – on average for phone and broadband bills.
LONDON (Reuters) -The Bank of England needs to lean against inflation pressures and stop expectations of higher price growth from getting entrenched in businesses' wage and pricing decisions this year, BoE policymaker Catherine Mann said on Friday. The BoE is widely expected to raise interest rates at its Feb. 3 meeting, after becoming the world's first major central bank to tighten policy in response to post-pandemic inflation pressures in December. British inflation in December was its highest in nearly 30 years at 5.4%, and Mann said the BoE's monthly survey of businesses showed their pricing and wage-setting expectations were not consistent with inflation returning to its 2% target.
Shares in wind turbine maker Siemens Gamesa tumbled on Friday after it cut its financial outlook for the third time in nine months, dragging down the market value of its rivals as well as German parent Siemens Energy. Siemens Gamesa shares slumped as much as 16.2% to their lowest since July 2020, while Siemens Energy fell as much 17.4%, its biggest intraday loss ever, wiping out 4.6 billion euros ($5.2 billion) in market value between them. Profit margins at wind turbine makers have been squeezed by a surge in costs for vital materials such as steel, forcing companies such as Siemens Gamesa and Danish rival Vestas to increase their prices.
Peloton confirmed it was considering job cuts as its chief executive denied the company was halting production of its pricey bikes and treadmills.
People trying to get on the property ladder in some places face spending more than 10 times their annual salary on average.
Germany imported 7% less natural gas in the period from January to November 2021 than a year earlier, but its bill rose 78.5% as prices surged, official data from trade statistics office BAFA showed. However, there is concern over when flows will arrive through the new Nord Stream 2 pipeline from Russia, and about escalating tensions on the Russia/Ukraine border, which could disrupt or curtail shipments. BAFA's monthly figures showed Germany's imports in the first eleven months of last year totalled 4.546 million terajoules (TJ), equivalent to 129.3 billion cubic metres (bcm), compared with 4.888 million TJ a year earlier.
Privately owned Mercadona supermarket chain, Spain's largest retailer by revenue, will raise the wages of all employees by 6.5% to match the country's annual inflation rate last year, it said on Friday. Mercadona's move is in an effort to protect the purchasing power of its 93,000 employees, the company said in a news release. The lowest wage at the supermarket chain in 2022 will be 1,425 euros ($1,614.95) a month, 87 euros more than in 2021, the company said, and 440 euros more than the country's legal minimum wage.
Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world's largest oilfield services company. The global rig count was 1,563 at the end of the fourth quarter, up around 42% from a year ago, Baker Hughes data shows. "Absent any further COVID-related disruption, oil demand is expected to exceed pre-pandemic levels before the end of the year and to further strengthen in 2023," Schlumberger Chief Executive Olivier Le Peuch said.
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Bitcoin was down by 8.8 per cent over the last 24 hours
LONDON (Reuters) -London Metal Exchange (LME) Chief Executive Matt Chamberlain will step down in April, the exchange said on Friday, in a surprise move after five years at the helm of the world's largest market for industrial metals. Chamberlain, a former banker who has been at the LME for nine years, has taken the top job at digital asset custody services provider Komainu, his new employer said. Komainu, launched in 2020, is a joint venture between Japanese bank Nomura Holdings, digital asset security firm Ledger and digital asset investment house CoinShares.
Find out if your home is in one of the UK's most affordable or expensive boroughs
Activision Blizzard employees form first of its kind Game Workers Alliance Union. The announcement, in an industry where unions are rare, came on the heels of Microsoft’s acquisition of the company
In some cases, people could save more than £200 by ditching and switching, Which? research indicates.
Retailers have shown a ‘stubborn refusal’ to pass on wholesale cost savings, according to the motorists’ group.
London’s top index ended the day 4.65 points, or 0.06%, lower at 7,585.01 points.
Self-taught, Philippa Craddock was chosen to design and create wedding flowers at Harry and Meghan's wedding.
Sir Antonio Horta-Osorio, the former Lloyds chief and Credit Suisse chairman, attended the "super-spreader" European Championship football final last summer when he should have been in quarantine, it has emerged.
Customers who left Virgin Media broadband packages saved over £190 a year.
Unruly, maskless passenger forces London-bound flight to return to Miami. About 500 miles into the journey, the flight had to turn back as the customer refused to comply with the federal mask mandate