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Watchdog launches campaign for 'fair' energy prices

New Which? research has revealed a shocking lack of trust in energy companies as they launch a new campaign calling for fair energy prices.

Latest research reveals just one in five people trust energy suppliers Credit: PA

The consumer watchdog has launched a campaign calling for "fair " energy prices after the poll found just one in five people trusted suppliers' charging prices.

Which? has called for simpler tariffs alongside a "credible, independent benchmark" or a "price to beat" set by regulator Ofgem against which consumers could compare costs.

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Salmond hits out at 'Treasury leak' over flight of banks

Scotland's First Minister Alex Salmond has accused the UK Government of "scaremongering" over the possible flight of businesses to England in the event of a Yes vote.

He told BBC Radio Scotland that a source "within the Treasury" had leaked information about RBS and other banks making contingency plans to move operations south.

He said the official announcements later issued by the banks "makes clear there's no impact on operations or jobs".

He also told reporters there would be an "inevitable investigation" into the leaking of "market sensitive information".

Lloyds to move HQ out of Scotland if yes vote

Lloyds Banking Group has confirmed it would move its headquarters out of Scotland in the event of a Yes vote in the referendum.

Currently their headquarters are in Edinburgh but the bank has confirmed it would move them south to London.

Ferrari chairman set for £21.5 million payout

Ferrari chairman Luca Cordero di Montezemolo will leave in October. Credit: PA Wire

Ferrari chairman Luca Cordero di Montezemolo will receive a staggering payoff of nearly £27 million euros (£21.5 million) after he leaves the sports car manufacturer.

Montezemolo clashed with Marchionne over strategy and the F1 team's poor results Credit: PA Wire

Montezemolo will be replaced by Fiat boss Sergio Marchionne after the pair clashed over strategy and the Ferrari F1 team's poor results.

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Smart meter rollout will cost each household £215

A public spending watchdog said the smart meter rollout across Britain will cost every home £215 over the next 15 years but will only save consumers 3% annually on the average energy bill by 2030.

A generic view of a gas ring. Credit: PA Archive

Consumers would save an average of 2% on the average bill of £1,328 until 2020, rising to £43 a year or 3% by 2030, the Government estimated.

The Commons public accounts select committee said the department for energy estimated the cost of the rollout would be £10.6 billion and households would contribute this through their energy bills.

The savings made by consumers were conditional on customers becoming more "savvy" and cutting their energy use, the committee warned.

It also said some aspects of the programme could be out of date by the time the meters are rolled out, saying consumers could receive the information on their smart phones but still have to pay for the "redundant" in-home displays.

The mass roll-out will start late next year and suppliers are obliged to take all reasonable steps to have them in households by the end of 2020.

Cameron: If you leave the UK, you leave the currency

The Prime Minister has told voters in Scotland: "We should be clear that if you leave the UK, you leave the currency, you leave the pound."

The currency issue has been at the heart of the independence debate Credit: Lewis Stickley/PA Wire

He also said he thought the former prime minister Gordon Brown was "spot on" when he unveiled a timetable for devolution.

"Not often you see me and Gordon in absolute agreement," he added.

Standard Life planning 'transfer' in event of a Yes

Standard Life, which has its headquarters in Edinburgh, has announced contingency plans to relocate parts of its business to England in the event of a Yes vote.

A statement on the Standard Life website said:

In view of the uncertainty around Scotland's constitutional future, we have put in place precautionary measures which would help enable us to provide customers with continuity. This includes planning for new regulated companies in England to which we could transfer parts of our business if there was a need to do so.

This transfer of our business could potentially include pensions, investments and other long-term savings held by UK customers...

We will continue to serve our customers in Scotland and will consider what additional measures we may need to take on their behalf as a consequence of constitutional change once further clarity and certainty is received.

– statement by David Nish, chief executive, standard life
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