FirstFT: UK businesses warn of delays in £150bn state energy support

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good morning.UK officials warn Companies that have to wait longer than home Seeking help from an energy package that may not be ready until November.

The prospect of weeks of delays is increasingly worrying business leaders. Hundreds of thousands of businesses will have their fixed-price energy contracts come to an end at the beginning of October.

Businesses are urging governments to act quickly to cover soaring ‘costs of doing business’, with hospitality and manufacturing lobby groups at risk of business failure this fall. I warn you.

A support package to limit annual gas and electricity bills to an average of £2,500 for 28 million UK households will start on October 1st.

But another scheme for businesses is more complicated, as there is no system for businesses that can match the rolling price cap that energy regulator Ofgem operates for homes.

Experts warned Prime Minister Kwasi Kwarten will have a hard time achieving his goals There are few means available to reach the target, which could push annual economic growth to 2.5% ahead of next week’s mini-budget.

  • opinion: Downing Street should take advantage of incentives for some energy producers to agree to new fixed price contracts. Helen Thomas writes.

Thank you for reading FirstFT Europe/Africa.How has the rising cost of doing business affected you or your job? Share your story It may be featured in a future edition of the newsletter – Jennifer Jan 20 ’17 at 10:00

1. Wall Street suffers worst sell-off since June 2020 Benchmark S&P 500 Index down 4.3% After 99% of companies fell in value yesterday, US inflation rises unexpectedly From the previous month to August. Nasdaq Composite fell 5.2% as investors prepared more. Aggressive Federal Reserve Rate Hikes ahead.

2. King Charles ‘seeks the welfare of all’ in Northern Ireland monarch Vowed to follow the late Queen’s ‘shining example’During his first visit to the region after his accession to the throne, he played an important role in the settlement of Ireland. Should Prince Charles speak out on political issues? vote on the poll.

  • About Commonwealth: king charles face delicate work They question its future and the role of hereditary monarchs in the 21st century.

3. Ukraine moves east into Donbass the Ukrainian army battle for control of a series of towns in Donbass as the counteroffensive advances to the east.Officials said the lightning counterattack was Flip Battlefield Dynamicsmaking it nearly impossible for Russia to encircle Ukrainian forces in the region.

4. EY’s split plan raises concerns for audit work Radical dismantling plans of four major companies Risk of deprivation of audit duties Industry executives warn that they lack the expertise necessary to scrutinize the complex accounts of the world’s largest multinational corporations. The partners will begin voting next month on proposals to spin off and list the advisory business.

5. Aston Martin faces £150m lawsuit over Valkyrie hypercar The luxury car maker faces lawsuits from two former dealers. Developing a troubled £2.5m hypercar.

the next day

reigning queen King Charles leads the procession deliver mother’s coffin Visit Westminster Hall, the oldest part of the Houses of Parliament. The late Queen will be laid to rest from today until her funeral on Monday, where visitors can pay their final respects.

Swedish election results anti immigration Swedish Democrats soar It became the largest right-wing opposition in Sunday’s polls, with a slight lead over the ruling left-wing bloc. The full results of the poll are due today.

Current state of EU speech European Commission President Ursula von der Leyen said: Outline a collaborative approach To tackle high prices and prevent an “icy winter” when delivering the State of the Union address to the European Parliament in Strasbourg.

Xi Jinping makes first overseas trip since coronavirus outbreak Chinese presidents will be allies, including Russian President Vladimir Putin. travel to kazakhstan Today before attending the Shanghai Cooperation Organization meeting in Samarkand, Uzbekistan, starting tomorrow.

economic indicators The Office for National Statistics releases August consumer and producer price indices and monthly house price indices. CPI in July Achieved 10.1% Up from 9.4% in June.America August PPI Announcedprices rose 9.8% in July. (FT, WSJ)

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