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Energy firms under investigation are handed new customers

Energy firms under investigation are handed new customers

Business
Two energy suppliers which have been handed the domestic customers of collapsed firms are themselves under investigation by the regulator Ofgem.Economy Energy and Our Power recently ceased trading and their customers have been automatically switched to Ovo and Utilita respectively.Both Ovo and Utilita are themselves the subject of continuing inquiries over the treatment of customers.They say the issues are historic and Ofgem has been rigorous.What happens when a firm goes bust?In the past year, a number of suppliers have ceased trading, with Economy Energy and Our Power both collapsing in January.When this happens, customers are automatically transferred to a new supplier. These customers' supply is protected but their tariff is not.Winter likely to finis...
Winter likely to finish off some energy firms, analysts say

Winter likely to finish off some energy firms, analysts say

Business
More small energy suppliers are likely to go bust this winter, analysts say, leading to potential disruption and higher costs for customers.Economy Energy was the latest to collapse earlier this month, following customer complaints about service including delayed bills and refunds.It followed a string of similar collapses and analysts say five or 10 more could go as winter costs rise.If so, domestic customers' supply is protected but their tariff is not.When an energy company ceases trading its customers are automatically transferred to a new supplier. Any credit they have, because they have used less energy than they paid, is carried over. Regulator Ofgem has announced that Ovo Energy will take on Economy Energy's 235,000 customers.However, in cases of t...
Firms told to prepare for no-deal Brexit

Firms told to prepare for no-deal Brexit

Business
Businesses that trade with the EU need to take steps now to prepare for the possibility of a no-deal Brexit, a government minister has warned.Financial Secretary to the Treasury Mel Stride told the BBC's Today programme "there is a call to action now".HMRC has published an update to its advice on how firms should prepare for a no-deal scenario.However, Mr Stride called the prospect of the UK leaving the EU without a deal an "unlikely event".Speaking to the BBC, Mr Stride said: "The time is now, there is a call to action now. "Those who are importing or exporting into and out of the EU 27, in the unlikely event that there is a no-deal at the end of March, will need to take certain steps. They need to do that now."Mr Stride said businesses needed to "get a ...
Insurance firms can't be liable to pay compensation to those who travel in goods carriers: Madras HC

Insurance firms can't be liable to pay compensation to those who travel in goods carriers: Madras HC

Finance
The Madras High Court Friday held that insurance companies cannot be made liable to pay compensation to accident victims who travel in goods carriers. Justices K K Sasidharan and R Subramanian said that in the light of the categorical pronouncements of the Supreme Court in various accidents, Motor Accidents Claims Tribunals are not right in directing insurance companies to pay the compensation and recover the same from the vehicle owner. The bench gave the ruling while passing orders on a batch of appeals from Bharati AXA General Insurance Company Limited in Bengaluru, challenging a September 23, 2014 order of the Motor Accidents Claims Tribunal in Dharmapuri, on October 24. On September 1 2011, a 16-member marriage party from Kottapatty village had engaged a goods carrier to go to Sool...
Google asking ad firms to run rival price comparison sites

Google asking ad firms to run rival price comparison sites

Technology
For the past four months, Google has been encouraging advertising agencies to create price comparison sites, which it presents in the Google Shopping box. Google launched its Comparison Shopping Service (CSS) scheme in June 2018 in response to the European Commission's 2017 judgment, which fined the search giant a record-breaking €2.4 billion (£2.14bn), and ordered it to give its comparison shopping competitors "equal treatment".Google approached advertising agencies and invited them to build comparison shopping sites.It also offered substantial incentives to retailers to generate interest in the scheme.The search firm then showed the names of the new sites under the images in its Google Shopping advertising insert, giving the impression of a thriving comparison ...