4 Things You Need To Know (1/8/17)
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
1. Electricity prices
Centrica, which owns British Gas, has revealed that customers can expect to see their electricity bills go up by 12.5% from September 15.
However, consumer groups have criticised the move, pointing out that research shows the wholesale cost of energy has been falling.
British Gas Chief Executive Mark Hodges has pointed to “cost pressures” from government policies as a factor in the price hike.
Labour benefited in June’s general election by being perceived as the party that would deliver a “soft Brexit.”
Research by academics from the British Election Study indicates that “large numbers” of Remain backers who had previously voted for other parties moved over to Labour.
President Donald Trump has taken aim at suggestions that his administration is in turmoil, tweeting “A great day at the White House!” just hours after firing Anthony Scaramucci as Communications Director.
Scaramucci lasted just ten days in the role. His appointment had forced the resignation of Sean Spicer as Press Secretary.
Trump has looked to dispel the turmoil accusations, and has pointed to his work on the economy, tweeting, “Stock Market could hit all-time high (again) 22,000 today. Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!”
4. Airline delays
Increased security checks are creating long queues at EU airports, with the European Commission calling the delays “the price of security.”
The rule changes have been brought in as a result of the recent terror attacks in Europe, which has forced authorities to put people entering or leaving the Schengen area under my scrutiny.
Waits of up to four hours have been reported, with it taking up to two extra minutes per a person to get through passport control.
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