Friday newspaper round-up: Deloitte, public finances, Apple sales

by | Jul 14, 2023

(Sharecast News) – Controversial UK government aspirations to replace gas boilers in some homes with a hydrogen-based alternative are likely to be scrapped, Grant Shapps, the energy minister, has indicated. Shapps said he believed hydrogen would form part of Britain’s overall energy mix but predicted it was “less likely” that the gas would be routinely piped into people’s homes, amid growing concerns about cost, safety and perpetuating a reliance on fossil fuels. – Guardian
Another big four consultancy firm has confirmed it misused government information last year, widening a scandal that has engulfed global giant PwC. Deloitte disclosed the breach as part of an ongoing Senate inquiry, but has so far refused to provide any more details about the incident due to client confidentiality. – Guardian

The boss of elite City law firm Allen & Overy has unexpectedly quit in the middle of its planned multibillion-dollar merger with a US rival. Gareth Price, Allen & Overy’s global managing partner, resigned for “personal reasons” after three years in the job and more than 30 years at the firm. He was elected to a four-year term that started in May 2020. – Telegraph

Britain’s public finances are in a “very risky” condition and debts could rise to more than 300 per cent of gross domestic product within 50 years, the government’s fiscal watchdog warned. The Office for Budget Responsibility said that the government would need to impose permanent tax rises and spending cuts equivalent to 4.4 per cent of GDP in 2028-29 if it was to prevent debt from surpassing 100 per cent of GDP in the long term, which is where borrowings presently stand. – The Times

Apple’s sales in the UK have hit a new record on the back of strong demand for its top-of-the-range iPhones. The California technology company reported that sales from its online and brick-and-mortar stores across Britain were £1.5 billion in the 12 months to September 24 as revenues rose 61 per cent, according to the latest accounts filed at Companies House. – The Times

Related articles

Wednesday newspaper round-up: Thames Water, BYD, BT Group

Wednesday newspaper round-up: Thames Water, BYD, BT Group

(Sharecast News) - The amount of electricity generated by the UK's gas and coal power plants fell by 20% last year, with consumption of fossil fuels at its lowest level since 1957. Not since Harold Macmillan was the UK prime minister and the Beatles' John Lennon and...

Sunday share tips: Top picks to consider for 2024

Sunday share tips: Top picks to consider for 2024

(Sharecast News) - The Sunday Times and Mail on Sunday have offered their top investment tips for 2024, which includes stocks from a variety of sectors such cruises and market research to metals and real estate. Business writers from The Sunday Times each gave their...

Sunday newspaper round-up: Three, Royal Mail, Google…

Sunday newspaper round-up: Three, Royal Mail, Google…

(Sharecast News) - Telecoms giant Three has paid out a record £2 billion dividend to the Hong Kong-listed conglomerate of billionaire Li Ka-shing, as it cashes in on the sale of mobile phone masts across Europe. Hutchison 3G, which trades as Three and has ten million...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!