Household Bills
Monday newspaper round-up: Cyprus, Energy supplies, Dell…
Cyprus agrees eleventh-hour bailout deal; arrival of Qatari gas tanker eases UK energy supply concerns; Dell founder could be forced out.
Cyprus agreed on a 10bn-euro bailout on Monday morning that does not include the controverial deposit tax, but will force big losses on deposits in the country’s two largest lenders, according to the Financial Times. The eleventh-hour deal came after a ‘stormy meeting’ of eurozone finance ministers that lasted nearly 12 hours, the paper says.
The arrival of a gas tanker from Qatar has eased the pressure on the UK’s energy supplies, writes The Guardian. This follows reports last week that Britain only had enough gas in storage for two days of demand following the unseasonal cold weather as of late. Another shipment is due on Monday as well as two more later this week, the paper writes.
Michael Dell, the founder of Dell who is planning a $24bn bid to take the computer maker private, could be forced out of his job as rival bids emerged ahead of the end of the 45-day “go-shop” period, according to The Times. The paper says that two new bids were received from private equity firm Blackstone and activist investor Carl Icahn.
According to The Telegraph, npower has said policies that exempt smaller suppliers from costs worth around £100 per household this year give its rivals an unfair advantage and are “distorting” the energy market.
French insurer Axa is to reduce its exposure to its domestic market of France on concerns that it is starting to become a “middle-of-the-pack” economy, held back by slow spending reforms and stringent tax policies, reports the Financial Times.
The Association of Convenience Stores has called for “meaningful policy change” to help Britain’s High Street “turn the tide” in its losing battles against out-of-town developments, The Telegraph reports. The group will call for a shake-up on planning, business rates and parking at the first High Street Forum industry summit on Monday.
The think-tank, Centre for Policy Studies, has blasted ministers for failing to introduce enough competition on the railways, saying that there are “a series of state-sponsored rail operator monopolies or ‘railopolies'”, according to The Independent.
