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Just Eat set to join blue chip index after share price jump

Just Eat set to join blue chip index after share price jump

Business
An online takeaway firm is set to join the ranks of Britain's biggest businesses this week.Just Eat is expected to be promoted to the FTSE 100 on the back of its soaring share price, and comes just three years after its stock market debut.Its elevation would make it the first such firm to join the blue chip index.The next FTSE reshuffle is based on closing share prices on Tuesday, with engineer Babcock and Alton Towers-owner Merlin at risk of demotion.Just Eat's shares have soared 43% this year on the back of revenue growth and acquisitions. It's £5.5bn market value makes it bigger than Sainsbury's.Just Eat takes online orders from customers and acts as delivery middle man between them and restaurants.Nicholas Hyett, equity analyst at Hargreaves Lansdown, said Just Eat's growth underlines
Oil price tops $60 for first time since 2015

Oil price tops $60 for first time since 2015

Business
The price of a barrel of oil has topped $ 60 for the first time in more than two years on rising expectations of a renewed deal to cut supplies.Brent crude reached its highest level since July 2015 amid signs that oil-producing countries will extend efforts to combat a supply glut.Oil has been gradually recovering since the start of last year when it crashed close to $ 27 - a slump caused by weak global demand combined with an oversupply of the commodity.The weakness of the price has badly hurt producers and prompted a major shake-up of the industry including the loss of thousands of jobs in the North Sea.The latest milestone marks another step for the sector getting back on an even keel.FTSE 100 stalwarts BP and Shell, mainstays of many UK pension funds, are key beneficiaries of a recover...
Food price rises see inflation climb to 3%

Food price rises see inflation climb to 3%

Business
Inflation rose to 3% in September, its highest level in more than five years, the Office for National Statistics (ONS) said.The Consumer Prices Index (CPI) measure of inflation rose from 2.9% in August thanks partly to higher food prices - adding to the squeeze on households as pay growth lags behind.But it will be welcomed by those receiving the state pension, as the September figure is used to calculate increases in the benefit next April under the Government's "triple lock" guarantee.It was the first time CPI inflation has reached 3% since April 2012. The Bank of England targets inflation at 2%.The CPI figure - which was in line with expectations - should bolster expectations that the Bank will hike interest rates next month, though some have cautioned against such a move at a time of t...
PM's promised energy price cap will expire in 2020

PM's promised energy price cap will expire in 2020

Business
The Prime Minister's cap on energy prices to protect households from rip-off bills will be a "temporary measure", it has been revealed.In a statement to financial markets, ministers revealed their plans to publish a draft law later on Thursday to cap energy prices for those on a standard variable tariff and other default tariffs.But the law will expire in 2020, it was disclosed."The cap would be a temporary measure, having effect initially until the end of 2020," the statement added."The need for it would be kept under review, and extensions could be made, on the advice of Ofgem, up to the end of 2023 at the latest."If passed, the proposed legislation would force regulator Ofgem to impose an "absolute cap" as soon as possible.Video:4 October - Key announcements in May's speech overshadowed...
No energy bill price cap this winter, Ofgem says

No energy bill price cap this winter, Ofgem says

Business
A price cap on energy bills proposed by the prime minister last week is unlikely to take effect before winter.Theresa May had vowed to revive a plan to cap charges for an extra 12 million consumers.However, Ofgem said it would have to wait for legislation to be in force before it could take action on standard variable tariffs.Until then a more limited price cap will cover another one million low income households, the regulator said.That move will, on average, save households £120 a year, the regulator said.Last week Business Secretary Greg Clark said a gas and electricity price cap could be imposed as early as this winter should Ofgem decide to use its powers.Media playback is unsupported on your deviceThe BBC understands that Ofgem is reluctant to do so because it believes energy compani