BUSINESS LIVE: Four more energy suppliers go under; Starling weighs IPO outside UK; Musk tweet rocks Tesla

Four more energy suppliers have gone bust meaning 19 have folded since August under the strain of soaring wholesale gas and electricity prices.

The collapses mean around 23,700 households and businesses will switch suppliers, energy watchdog Ofgem said.

Challenger bank Starling still plans to float on the stock market – but could be tempted away from London.

The digital lender, which counts Goldman Sachs and Qatar's sovereign wealth fund among its biggest investors, was valued at more than £1billion earlier this year.

Tesla shares slammed into reverse yesterday after Elon Musk said it had not signed a contract with Hertz.

The electric car maker’s shares soared last week after Hertz announced a massive deal to buy 100,000 Tesla vehicles. It was Tesla’s biggest-ever order and the company’s value rose above $1trillion. 

 > If you are using our app or a third-party site click here to read Business Live

Omni Energy, MA Energy, Zebra Power and Ampoweruk all said they will cease trading yesterday

Omni Energy, MA Energy, Zebra Power and Ampoweruk all said they will cease trading yesterday 

  • Mike Sheen

    Host commentator

07:54
Banks go back to court and ramp up repossessions

Struggling homeowners hit by the pandemic are being evicted by banks in court hearings lasting just nine minutes — often with no legal representation.

Dozens of homeowners have already lost their homes, a joint probe by Money Mail and The Bureau Of Investigative Journalism found. 

07:53
Barclays boss will split his time between the City and New York

The new boss of Barclays will have a home in London – but split his time between the City and New York.

CS Venkatakrishnan, who likes to be known as Venkat, took the helm on Monday after Jes Staley’s shock departure following a probe into his connections with paedophile Jeffrey Epstein.

07:52
The Cambridge Satchel Company loses £2m

The Cambridge Satchel Company has long been a favourite with celebrities, but that has not stopped the British firm losing nearly £2million in the year to June 2020 having failed to register a profit since 2014.

Founder Julie Deane, who received a CBE in the Queen’s Birthday Honours this summer, has vowed to stick to her guns despite a share issue in 2019 diluting her control. 

07:50
Pfizer gets £48bn shot in arm from Covid jabs

US drugs giant Pfizer has raised its forecast for Covid-19 vaccine sales amid booming demand.

It now expects to rake in £26.5billion from the coronavirus shot this year – up from the £11billion targeted in February and £24.6billion in July.

07:50
AP Moller-Maersk: No end in sight for global supply crisis

The chaos that has crippled global supply chains will extend into next year, says the world’s biggest shipping company.

AP Moller-Maersk warned a lack of truck drivers was preventing hundreds of container vessels from offloading goods around the world.

‘The whole system has become one gigantic bottleneck,’ said Maersk chief executive Soren Skou yesterday.

07:49
Challenger bank Starling still planning stock market float - but could fly away from London

Starling chief executive Anne Boden said the bank wants to list on the public markets in 'a year or two'.  She added: 'I very much hope we can do it in London.' 

But in a caveat which could worry Chancellor Rishi Sunak, as he tries to attract more tech firms to London, she went on: 'I think that would be the default option, unless we're persuaded otherwise.'

07:48
Musk tweet sees Tesla shares dive

Tesla shares soared last week after Hertz announced a massive deal to buy 100,000 Tesla vehicles. It was Tesla’s biggest-ever order and the company’s value rose above $1trillion.

But boss Musk took to Twitter yesterday and said: ‘If any of this is based on Hertz, I’d like to emphasise that no contract has been signed yet. Hertz deal has zero effect on our economics.’

07:47
Four more small energy suppliers go bust

Omni Energy, MA Energy, Zebra Power and Ampoweruk all said they will cease trading yesterday.

It comes after supplier Bluegreen Energy Services, which had 5,900 customers, collapsed on Monday as soaring gas prices put the squeeze on the sector.

BUSINESS LIVE: Four energy suppliers go bust; Starling eyes non-UK IPO

Search within

The comments below have not been moderated.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

By posting your comment you agree to our house rules.