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Energy bills to fall for 15 million households from April

Energy bills to fall for 15 million households from April

Business
Around 15 million households are to see their energy bills fall by an average of £17 from April.The boost for domestic budgets comes after the industry regulator announced it would lower the price cap for the summer period, as a result of lower wholesale energy prices. The limit was introduced 12 months ago aimed at tackling so-called "rip-off" default tariffs.The default price cap, which protects around 11 million households, is set to fall from £1,179 to £1,162 from April.Meanwhile, the pre-payment meter cap, which protects a further 4 million households, will fall from £1,217 to £1,200 over the six months to September. Advertisement A large part of the reduction is due to wholesale costs continuing to fa
Coronavirus: China shares in biggest fall in four years

Coronavirus: China shares in biggest fall in four years

Business
Fears over the coronavirus triggered a sharp fall in Chinese shares when the market reopened after the Lunar New Year holiday.The Shanghai Composite index closed nearly 8% lower, its biggest daily drop for more than four years.Manufacturing, materials, and consumer goods companies were among the hardest hit, while healthcare shares soared.The fall came despite China's central bank announcing new measures to ease the impact of the outbreak.The People's Bank of China (PBOC) unexpectedly lowered short term interest rates as part of its attempts to relieve pressure on the economy from the rapidly spreading virus.It also pumped an extra 150 billion yuan ($ 22bn; £16.3bn) into the economy on Monday, a move aimed at ensuring there is enough liquidity in the bank
If coronavirus fears escalate, Wells Fargo warns 10-year Treasury yields could fall another 30%

If coronavirus fears escalate, Wells Fargo warns 10-year Treasury yields could fall another 30%

Finance
Wells Fargo Securities' Michael Schumacher expects the bond rush to intensify.According to the firm's global head of rate strategy, coronavirus fears will drive more investors into the U.S. Treasury market as a safe haven play and drive yields sharply lower.The benchmark 10-year Treasury Note yield is already down 22% so far this year."Our big concern is that investors get more and more nervous," Schumacher told CNBC's "Trading Nation" on Friday. "We would say that probably the last 25 to 30 basis points mainly in the 10-year is largely due to the virus."On Friday, the 10-year yield hit a low of 1.50% — its lowest level since early September."It's really a function of the news flow coming out of China in the near-term," he said.If the coronavirus situation continues to deteriorate, Schumac
China pneumonia: Sars ruled out as dozens fall ill in Wuhan

China pneumonia: Sars ruled out as dozens fall ill in Wuhan

Health
A mysterious viral pneumonia that has infected dozens in central China is not Severe Acute Respiratory Syndrome (Sars), health chiefs have said.They also discounted bird flu and Middle East Respiratory Syndrome, and said investigations were continuing.A total of 59 cases have been reported in the city of Wuhan, seven of which are considered critical.The outbreak prompted Singapore and Hong Kong to bring in screening processes for travellers from the city.An epidemic of the potentially deadly, flu-like Sars virus killed more than 700 people around the world in 2002-03, after originating in China. Mystery virus probed in Wuhan The people who risked their lives to stop the virus In a statement posted on its website late on Sunday, t...
Global air crash deaths fall by more than half in 2019

Global air crash deaths fall by more than half in 2019

Health
Far fewer people died in major air crashes around the world last yearBy DAVID McHUGH AP Business WriterJanuary 1, 2020, 11:30 PM2 min readFRANKFURT, Germany -- The number of deaths in major air crashes around the globe fell by more than half in 2019, according to a report by an aviation consulting firm. The To70 consultancy said Wednesday that 257 people died in eight fatal accidents in 2019. That compares to 534 deaths in 13 fatal accidents in 2018. The 2019 death toll rose in late December after a Bek Air Fokker 100 crashed Friday on takeoff in Kazakhstan, killing 12 people. The worst crash of 2019 involved an Ethiopian Airlines Boeing 737 MAX plane that crashed March 10, killing 157 people. The report said fatal accidents in 2018 and 2019 that led to the grounding of Boeing's 737 MAX...