Market Buzz
Tuesday newspaper round-up: Energy support, chatbots, Hyve
Some of the UK’s least well-off households could be left more than £200 worse-off on their energy bills this year because of reduced government support, the consumer body Which? has warned. Joining calls made by other campaigners, it said the government urgently needed to introduce a “social tariff” for gas and electricity to protect the most financially vulnerable. – Guardian.
Monday newspaper round-up: Spending, Credit Suisse, Dr Martens, Arriva
More than half of UK consumers have cut back on discretional spending since the start of the year, with nearly two-thirds choosing to reduce the amount they spend on eating out, according to research from KPMG. As households grapple with a swath of bill increases and tax hikes coming into effect from the start of this month, the survey of 3,000 consumers also found that 49% plan to spend less on non-essentials now that energy bill support payments have come to an end, while 30% will use their savings to cope.
Sunday newspaper round-up: OPEC, Bank of England, M&S
A group of oil producers led by Saudi Arabia will slash their combined production by 1. 0m barrels a day. The move by the Organisation of Petroleum Exporting Countries was expected to trigger a $10 a barrel jump in oil prices when financial markets reopened on Monday. It was also seen risking a fresh clash with Washington, which had already threatened consequences following previous output reductions in October. Moscow on the other hand was expected to be a beneficiary.