The bailout of the bust energy supplier Bulb is expected to cost the government billions of pounds less than originally feared because of a sharp fall in wholesale gas prices, according to the National Audit Office. The public spending watchdog said the government may end up spending £246m on saving the supplier, which has 1.5 million customers and was acquired by Octopus Energy late last year. – Guardian
Twitter’s feed will promote only the tweets of users paying its £8 monthly subscription service, Elon Musk, the site’s owner and chief executive, has tweeted. From 15 April, the “For you” tab on the site, which attempts to algorithmically curate popular posts for users, will feature only “verified accounts”, Musk tweeted, describing the decision as “the only realistic way to address advanced AI bot swarms taking over”. – Guardian
A looming British ban on the sale of new petrol and diesel cars was thrown into chaos on Tuesday after Brussels watered down its own restrictions amid opposition from the German auto industry. Experts and politicians warned that British rules due to take effect in 2030 are untenable following the European climbdown, which will allow internal combustion engines as long as they burn carbon-neutral petrol alternatives. – Telegraph
Regulators are to look at ways of tightening bank liquidity rules after the collapse of the British division of Silicon Valley Bank, which they called the fastest bank implosion since Barings. Andrew Bailey, governor of the Bank of England, told MPs on the Commons’ Treasury select committee that he had been taken by surprise by the speed of the depositor run. “It was probably the fastest passage from health to death really since Barings,” he said. – The Times
The union representing about 115,000 postal workers at Royal Mail is threatening to announce new strike dates, raising renewed concerns about the future of the lossmaking British business. The Communication Workers Union is understood to be preparing to outline plans for industrial action next month, dealing a blow to hopes of a breakthrough in protracted talks with Royal Mail about below-inflation pay rises and changes to working conditions. – The Times
