£4.2billion deal for gas pipeline to be reviewed
The foreign takeover of Britain's main gas pipeline is to be reviewed under new national security rules amid mounting fears of a winter energy crisis.
Ministers have launched an investigation into the sale of a 60% stake in National Grid's gas transmission business to a consortium led by Australian investment business Macquarie.
The £4.2billion transaction is one of the biggest deals to be called in under the National Security and Investment Act, which came into force at the start of the year amid fears of key British companies falling into the wrong hands.
The Telegraph reports that sources said the review was driven by the importance of the infrastructure rather than any specific concerns.
Cash is king
People are going back to cash to keep tighter control on their spending as living costs soar, according to new research by the Post Office.
Post offices handled £801million in personal cash withdrawals in July, the most since records began five years ago.
That's up more than 20% from a year earlier, according to the BBC.
Natalie Ceeney, chair of the Cash Action Group, said it showed people are "literally counting the pennies" as they grapple with rising prices.
"It's absolutely because of the cost-of-living crisis," said Ms Ceeney, who chaired the UK Government's independent Access to Cash review.
"People will be taking out cash and physically putting it into pots, saying 'this is what I have for bills, this is what I have for food, and this is what's left'."
Suncor could sell Buzzard and Rosebank stakes
Canadian energy company Suncor Energy has revealed it could sell off all its UK exploration and production assets.
These include a 29.9% interest in the Buzzard field and a 40% stake in the Rosebank project.
Energy Voice reports that Suncor has commenced a sale process for its entire UK E&P portfolio, though the energy firm did not disclose a deal value or name any potential buyers.
Consequences of not paying your energy bills
People are being warned of the consequences of not paying their energy bills, as a campaign to refuse payment gathers supporters.
The Don't Pay group, which is demanding a reduction of bills to an affordable level, says more than 80,000 people have now pledged to cancel their direct debit payments from October 1.
This is the date the price cap - the maximum amount suppliers can charge customers in England, Scotland and Wales for each unit of energy - increases.
Analysts are forecasting the typical customer is likely to pay £3,358 a year from October, up from £1,971 a year in April.
But the BBC says charities have warned that not paying energy bills has very serious consequences for consumers.
If you don't agree a payment plan with your supplier, they might try to force you to have a pre-payment meter installed. Your supplier could also pass your details to a debt-collection agency - and there could be charges to cover the cost of this. Many suppliers charge extra fees for late payments, so this could be another additional cost.
Dispute over pay and conditions at Amazon escalates
Amazon workers are preparing to unleash a wave of strikes at its British warehouses in coming days as a row over pay and conditions escalates.
A string of walkouts last week are expected to be followed by further action as frustration boils over at the cost-of-living crisis according to the GMB union, which has sought the right to officially represent Amazon staff.
Up to 1,500 staff gathered in the canteen at the company's site at Tilbury, Essex last Wednesday to protest against a proposed pay rise of just 35p an hour.
The Telegraph says there were other strikes at the firm's facilities in Bristol and Dartford, Kent.
The business refused to comment on whether deliveries would be disrupted as a result.
The GMB, which has members at Tilbury and elsewhere but is not involved in co-ordinating the action and is not recognised by Amazon, said workers are seeking a £2 per hour pay bump because of surging inflation.
American jobs boost
US employers added more than 500,000 jobs in July and the unemployment rate dropped, defying fears that the labour market is heading for a slowdown.
The jobless rate fell to 3.5% from 3.6% in June, as restaurants, bars and other firms continued to add workers.
The BBC says the employment report was far stronger than expected, after recent data showed the US economy continuing to shrink.
The US central bank is raising interest rates to rein in surging prices. Higher borrowing costs reduce spending and economic activity. But top economic officials in the US have said they hope the US labour market will remain strong enough to allow the Federal Reserve to raise rates without triggering a recession.
Felixstowe strike looms
Workers at the UK's biggest container port in Felixstowe are to strike for eight days in a dispute over pay.
Around 1,900 members of the Unite union will walk out on August 21 after rejecting a 7% pay offer from Felixstowe Dock and Railway Company.
Unite called the pay offer "significantly below" the rate of inflation.
The BBC says the walkout comes after a summer of strikes in the transport sector as the cost of living continues to rise.
A Felixstowe port spokesperson said the company was "disappointed" and that it was "determined" to help workers tackle rising costs - whilst continuing to invest in the port.
Plea for Tesla to set up gigafactory in Britain
Entrepreneur Elon Musk has been urged to bring a Tesla plant to north-east England after the electric car company revealed its ambition to build a dozen gigafactories across the world.
Ben Houchen, the Conservative Mayor for Tees Valley, has written to the billionaire. He said Teesside could offer Tesla "hundreds of acres of ideal developable land" while avoiding "the bureaucratic entanglements seen at other sites".
The Telegraph says Tesla has experienced delays getting its Berlin car factory up and running and Mr Musk has bemoaned the red tape involved in opening the German plant. The project has encountered objections from unions and environmental protesters.
Ineos support for Firth of Forth freeport
Petrochemicals giant Ineos has given its backing to a bid to create a green freeport on the Firth of Forth.
The London-headquartered company believes doing so would sustain a "prosperous industrial and manufacturing sector", provide jobs and deliver economic benefits.
UK and Scottish minister are currently considering five green freeport bids, including ones submitted by the north-east and the Cromarty Firth.
Energy Voice says the two successful locations are expected to be unveiled later this summer.