Latest Business News – 1 March 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Energy price cap prompts calls for government help

The amount energy suppliers can charge households has been cut by regulator Ofgem. However, bills will still rise in April as the Energy Price Guarantee (EPG) will become less generous and a £400 winter discount on all bills ends.

Lidl puts a purchasing limit on fresh produce

Lidl has introduced limits on sales of peppers, tomatoes and cucumbers due to shortages of fresh produce. The supply issues are due to extreme weather events abroad.

TikTok gets banned from federal government phones in Canada

The chief information officer in Canada announced earlier this week that the video-sharing platform TikTok will be removed and blocked from all federal government devices. He cited security concerns as the reason.

What is the Windsor Framework?

The UK and EU have finally come to an agreement regarding Brexit and Northern Ireland. Sky News put together this explainer to outline the new deal.

Twitter lays off 10% of its remaining workforce

About 200 employees awoke on Sunday to find they had been let go. It’s just the latest round of layoffs at Twitter, whose workforce numbered around 7500 before Elon Musk took over.

Britishvolt bought by an Australian firm

Recharge Industries has bought out Britishvolt, the company behind a planned battery factory to power electric cars. They will focus on making batteries for energy storage before moving to manufacture batteries for high-performance sports cars.

Think tank claims the government is hiding £28bn of ‘stealth cuts’ to public services

Paul Nowak, the general secretary of the TUC, says that a new report from the New Economics Foundation (NEF) showed that Jeremy Hunt’s spending plans include cuts to public services worth £1,000 a household by 2027-28.

Manchester United shares tumble

Manchester United shares have fallen by as much as 12% following a report that the club’s owners are unhappy with what bidders are bringing to the table.

Netflix cuts prices in 30 countries

As Netflix cracks down on password-sharing, they have also cut prices for subscribers in many countries – but the UK is not among them. The company continues to lose customers amid the cost of living crisis and with more streaming options than ever available.

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