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The Latest Breaking News from Kwasi Kwarteng

Ministers warned of ‘millions’ of winter power cuts and rationed supply

Threats to security of supply have prompted Business Secretary Kwasi Kwarteng to ask Britain’s coal-fired power stations to delay their closures.

The Independent UK

USA clashes with UK business secretary over defence companies

Kwasi Kwarteng has been accused by intelligence sources of jeopardising future partnerships

Wales Online

Sunak’s design for the windfall tax is complex, but is it any good?

Labour is right to crow as the chancellor’s hand is finally forced, but we need to see what materialises

The Guardian - UK

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How Johnson, Sunak and other senior ministers previously condemned windfall tax

The Government had spent recent months dishing out criticism over the idea of a tax on oil and gas firms’ extraordinary profits.

The Independent UK

Morning Brief: Top Financial Stories Dominating on Thursday, May 26

CNBC Two Major Tech Deals Come Under UK Government Scrutiny

Benzinga

Two Major Tech Deals Come Under UK Government Scrutiny

The U.K. will review Altice USA Inc's (NYSE:ATUS) increased stake in BT Group plc (OTC:BTGOF) after Business Secretary Kwasi Kwarteng exercised new takeover powers focusing on national security, reports CNBC. The company announced that the U.K. Business Secretary Kwasi Kwarteng is "calling in" its deal with Altice, which telecom magnate Patrick Drahi owns. BT Group said it…

Benzinga

Kwasi Kwarteng to review French billionaire’s BT stake over security concerns

Business secretary intervenes after biggest shareholder Patrick Drahi raised stake in UK telecom giant to 18%

The Guardian - UK

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Chinese acquisition of UK's leader microchip plant being reviewed on national security grounds

The UK Government has confirmed an assessment of the deal by Chinese-owned firm Nexperia to acquire Newport Wafer Fab

Birmingham Post

Steve Rowe’s warts-and-all M&S farewell just enhances credibility for investors

Outgoing CEO spelled out what still left undone, but retailer in better shape than in recent past

The Guardian - UK

SSE chief says windfall tax may hinder work on UK energy self-reliance

Alistair Phillips-Davies pledges £24bn of investment as his company reports 15% rise in profits

The Guardian - UK

SSE reports increased profits on £24 billion renewable energy pledge

Energy company made £1.5 billion this year amid calls for a windfall tax

Evening Standard

Sunak races to finalise cost of living response after energy bills warning

Measures could be announced as soon as Thursday as households face price cap rise of more than £800

The Guardian - UK

Up to 12 million households could face fuel poverty as energy bills keep surging

Jonathan Brearley, the head of energy regulator Ofgem, told MPs any such hike could see the number of households in 'fuel poverty' nearly double from 6.5 million to 12 million

Daily Mirror

For Shapps the philosopher, there’s no indefensible position he won’t defend

Transport secretary continues in his long-running role as go-to man for whenever Boris Johnson is in trouble

The Guardian - UK

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The National (Scotland)

Kate Forbes demands UK Government act over 'unimaginably horrendous' energy bill rise

SCOTLAND'S Finance Secretary has demanded the UK Government act after Ofgem announced that energy bills will likely soar by around £800 in October.

Wales Online

Millions of Brits could fall into 'fuel stress' if energy price cap soars to around £2,800 in October

Calls for Government to do more to help people in the cost of living crisis as Ofgem boss expects another big increase in bills

The Independent UK

Actor Samuel West joins Sizewell protest over threat to nature

The proposals would see a breeding area the size of eight football pitches lost, as well as some three million fish, according to RSPB estimates.

Chronicle Live

Petrol prices - Why fuel costs so much as the government threatens forecourts who overcharge

Chancellor Rishi Sunak cut fuel duty by 5p per litre in March in a bid to help squeezed motorists but the reduction hasn't been passed on by petrol retailers.

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news in one place.

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The Guardian - UK

UK has approved several fossil fuel projects since Cop26, analysis finds

About 50 schemes are thought to be in pipeline between now and 2025 despite climate pledges

Insider UK

Petrol and diesel prices reach new record highs

Latest cost-of-living hit follows inflation reaching record levels in April

Daily Mirror

Tories want to BLOCK giving struggling families £600 amid 'apocalyptic' food prices

Conservative MPs face calls to back a one-off levy which would pump cash into the wallets of the hardest-up households

Manchester Evening News

Minister says people should work more hours or get better job to protect themselves from cost-of-living

Rachel Maclean added that such an option wouldn't work for everyone

Birmingham Post

Hinkley Point C nuclear plant could help households save £1bn a year on energy bills, says EDF

The French energy firm has issued a statement following comments by the business secretary over the cost to consumers of building more nuclear plants in the UK

The Guardian - UK

Tory MPs to grill Bank of England governor over high inflation

Andrew Bailey’s appearance at select committee will come amid work from chancellor to find new ways to ease cost of living

Evening Standard

‘Severe risk’ of trade war with Brussels, Britain’s former ambassador to EU warns

There is a “severe risk that we are heading into a trade war" with Brussels, Britain’s former ambassador to the EU has warned.

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