1 Rishi Sunak said that he would offer more support to people with their energy bills only “if necessary” as he highlighted the volatility of energy prices. The energy price cap rises from about£1,300 to nearly £2,000 on Friday and official forecasts suggest it will rise to £2,800 in October.
2 A second P&O Ferries ship was has been detained as Grant Shapps, the transport secretary, said that the operator could be left with “little choice” but to reverse its decision to dismiss 800 British crew. The Maritime and Coastguard Agency said that its surveyors were in the process of impounding the Pride of Kent after a failed safety inspection.
3 Anyone needing a printer cartridge, stationery or a bestselling novel at short notice will soon be able to order one from home after Deliveroo, the online delivery operator, announced plans to work with WH Smith.
4 The power market is facing its biggest overhaul in decades after National Grid said that wholesale electricity should be traded at local prices that vary from town to town. The power distributor said Britain’s national electricity market was “not designed for net zero and if left unchanged will impose excessive costs to consumers”.
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5 Barclays bank expects to suffer a £450 million loss over the mishandling of US securities in 2019, with the discovery of the error delaying a £1 billion share buyback programme.
6 A 50 per cent stake in a huge offshore wind farm being built off the Yorkshire coast has been sold for £3 billion to a pair of French investors. The investment division of Axa, the insurance group, and Crédit Agricole, the bank, have bought half of the Hornsea Two project.
7 The British taxpayer will no longer be the majority owner of NatWest, the lender formerly known as Royal Bank of Scotland that was bailed out by the state during the financial crisis, after it buys back nearly 550 million shares — equivalent to a 4.9 per cent stake — that has been owned by the government since 2008.
8 MPs have attacked HSBC after it was claimed that the bank had edited research publications produced by its own analysts to remove references to a “war” in Ukraine, while continuing to operate in Russia.
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9 Brighton Pier Group, which owns Brighton Palace Pier and Lightwater Valley Family Adventure Park, has delivered its second profit upgrade in less than six months.
10 Cevian Capital, one of Ericsson’s biggest investors, and Norway’s sovereign wealth fund will vote against motions at Ericsson’s annual shareholder meeting today that would help to reduce board members’ responsibility over a payments scandal in Iraq.