Customers Face £30-a-Month Price Hike When UK Energy Companies Go Bust

Consumers who are moved to a new energy firm after their supplier goes out of business stand to pay almost £30 ($41) a month more, Citizens Advice has found. The energy watchdog warns people will face “desperate choices” this winter after finding that customers of the five largest failed suppliers are set to pay £6.70 ($9.17) more a week when moved on to the default tariffs of a replacement firm. The energy price cap is due to rise by £139 ($190) for people on default tariffs and £153 ($209) for people on pre-payment meters on Oct. 1. As of Tuesday Sept. 28, more than 1.5 million people had been affected by energy supplier failures. Citizens Advice said it was particularly concerned about those on the lowest incomes who could be hit by rising energy costs, a planned cut of £20 ($27) a week to their Universal Credit, and a higher …

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China Evergrande to Sell $1.5 Billion Stake in Shengjing Bank to State Firm

Thu Sep 30 , 2021
HONG KONG—Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset management company. Shengjing Bank, one of the main lenders to Evergrande, had demanded that all […]
China Evergrande to Sell $1.5 Billion Stake in Shengjing Bank to State Firm

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