UK

UK-listed companies issued profit warnings at the highest rate in two years during the three months to September, consultancy EY-Parthenon said, as the war in the Middle East drives up business costs barely a fortnight before Chancellor John Healey's 28 October budget.

A new study from the thinktank E3G has found that the UK government’s proposed £15bn warm homes plan, focused on insulation and heat pumps, would deliver greater economic benefits than developing new North Sea oilfields such as Rosebank and Jackdaw. The plan would cut household energy bills by £1bn a year, boost the economy by £1.6bn annually and create around 50,000 jobs, according to the analysis. In comparison, the Rosebank oilfield would generate about 1,100 direct and indirect jobs, with tax revenues likely limited after accounting for industry reliefs and decommissioning costs.