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Business Apr 17, 2026

Richard Desmond's £1.3bn Damages Claim Over National Lottery Licence Rejected

Media tycoon Richard Desmond has lost his claim for up to £1.3bn in damages against the Gambling Co…
Richard Desmond, the media tycoon and former proprietor of the Daily Express and Channel 5, has lost his claim for up to £1.3bn in damages against the Gambling Commission. The claim was related to the regulator's decision not to award him the 10-year licence to run the national lottery.Desmond's companies, Northern & Shell investment company and the New Lottery Company, had launched a legal action against the Gambling Commission in 2022, arguing that the commission made 'manifest errors' in the process governing the UK's largest public sector contract, worth £6.5bn. The legal process was lengthy, with Desmond's costs estimated to have reached £55m by May last year.The media mogul claimed the commission's mistakes caused him to incur £17.5m of needless costs in pursuing his bid. However, he was also seeking up to £1.3bn in damages to reflect hypothetical lost earnings from running the lottery.The licence was ultimately awarded to Allwyn, a new vehicle owned by Czech billionaire Karel Komárek, which has been running the draw since 2024. On Friday, Mrs Justice Smith dismissed Desmond's claim, stating that the claimants had failed to make out any case of 'manifest error' on the part of the commission.The competition for the award of the fourth licence was found to have reached a lawful outcome. Desmond had previously failed with a separate claim that Allwyn had received an unlawful £70m marketing subsidy from the Gambling Commission.
#Richard Desmond #Gambling Commission #National Lottery licence
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World Economy Apr 12, 2026

European EV Interest Soars Over 50% as Iran Conflict Triggers Record Petrol Price Spike

The Iran war has driven petrol prices to historic highs across Europe, prompting a sharp rise in el…
Since the outbreak of the Iran conflict in February, European car shoppers have turned sharply toward electric vehicles (EVs), spurred by a rapid climb in petrol costs that has made plug‑in power appear markedly cheaper. Major online marketplaces report a pronounced uptick in EV interest. Germany’s leading platform, Mobile.de, recorded a greater‑than‑50% increase in electric‑car inquiries in March compared with February, while demand for petrol and diesel models fell during the same period. Hybrid queries edged up only 4%. In the United Kingdom, Spain and Germany, the buyer‑matching service Carwow logged 20%‑30% growth in EV inquiries between February and March, with the UK alone seeing a 23% rise in electric demand and a 19% jump for hybrids. French marketplace La Centrale observed a staggering 160% surge in EV searches from early March to early April, underscoring how sensitive drivers are to energy‑price volatility. AutoScout24, operating across Germany, Austria and Italy, noted that demand for electric cars climbed by roughly 40%, while interest in petrol and diesel vehicles remained flat or declined. Official registration data reinforce the trend. The Society of Motor Manufacturers and Traders (SMMT) reported that March battery‑electric registrations hit 86,120 units—a 24.2% year‑on‑year increase** and a record high for the month. Industry insiders attribute the shift to a combination of soaring fuel costs and supportive policy measures. In Germany, diesel prices have reached **€2.50 per litre**, and the government’s **€6,000 purchase subsidy** for electric cars further narrows the cost gap. "What the German energy transition couldn’t achieve, the economic reality has delivered," said Ajay Bhatia, CEO of Mobile.de, highlighting how market forces are now driving the zero‑emission push. Volkswagen’s ID.3 emerged as the most popular battery model, benefitting from both the subsidy and heightened consumer awareness. Nevertheless, experts caution that the surge may be partly transitory. Mobile.de’s Bhatia predicts the spike will settle at "a new, higher normal," while Autotrader’s Ian Plummer notes that previous fuel‑price spikes did not translate into lasting EV adoption, emphasizing the need for continued confidence in vehicle range and charging infrastructure. Guillaume‑Henri Blanchet of La Centrale added that the crisis has given many drivers their first real sense of total‑cost‑of‑ownership, making them more willing to accept higher upfront prices for lower long‑term operating costs. As Europe grapples with the dual pressures of geopolitical tension and energy inflation, the automotive market appears poised for a structural shift toward electrification, though the durability of this momentum remains to be fully seen.
#electric #car #prices
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World Economy Apr 09, 2026

UK Thinktank Proposes Subsidized Energy for All Households

A UK thinktank has suggested that all households in the UK should receive a minimum amount of energ…
The New Economics Foundation (NEF) has proposed that the UK government provide subsidized energy to all households, funded through North Sea tax revenues. The plan would ensure that every household receives a set amount of energy at current rates, helping to protect the poorest households from rising energy costs.According to NEF, providing enough energy to heat two rooms, provide hot water, and run key appliances like a fridge and washing machine at frozen rates would require a subsidy of about £4.5bn. This amount is roughly equal to the expected windfall in tax revenues from the North Sea, generated by the high price of oil.The proposed measure, known as a price guarantee, would save all households more than £160 on their annual bills. However, this would amount to a saving of about 17% for those on low incomes compared with 11% for wealthier people. NEF argues that this would encourage those who can afford to pay to reduce their energy consumption and invest in energy-efficient measures.Alex Chapman, a senior economist at NEF, stated that similar measures have been successfully implemented in countries like Japan, South Korea, China, and India, as well as several European countries. He emphasized the need for the government to protect households' ability to meet their essential energy needs and to tax energy companies on their windfall profits.The energy cap is expected to rise by about £388 in July and could reach nearly £2,000 a year for dual-fuel households. NEF's proposal aims to mitigate the impact of rising energy costs on vulnerable households.
#energy #households #oil
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World Economy Apr 08, 2026

Cardiff Airport Wins £205m Subsidy Battle Against Bristol Airport

Cardiff Airport has won a legal challenge against Bristol Airport over a £205m subsidy package from…
Cardiff Airport has emerged victorious in a legal challenge brought by Bristol Airport over a £205m subsidy package from the Welsh government. The Competition Appeal Tribunal's unanimous decision on Tuesday dismissed Bristol Airport's case, which argued that the subsidy distorted the market and breached the Subsidy Control Act.The Welsh government had announced the subsidy in April last year, with approximately half earmarked for developing new routes and the rest for maintenance facilities, hangars, and cargo capacity. Bristol Airport had claimed that the subsidy was unprecedented in the UK aviation industry and a breach of competition rules.The £205m subsidy is part of a decade-long plan to support Cardiff Airport, which has struggled to turn a profit since its nationalization in 2013. Despite £200m in bailouts, passenger numbers at Cardiff Airport have not recovered from the Covid pandemic, with 963,000 customers passing through in 2025, compared to a peak of 2 million in 2007.Bristol Airport expressed disappointment with the tribunal's decision, stating that it would study the ruling in detail before deciding on next steps. The company argued that the subsidy placed a burden on taxpayers and that the flexibility given by the Subsidy Control Act introduced after Brexit allowed the subsidy to proceed.The Welsh government welcomed the decision, hoping that both Cardiff and Bristol airports would continue to thrive and grow. The feud between the airports has been ongoing since 2013, when the Welsh government purchased Cardiff Airport for £52m, well above market value.
#bristol #airport #cardiff
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World Economy Mar 28, 2026

Philippine transport workers rally over soaring fuel costs as President Marcos declares national energy emergency

Transport operators across the Philippines staged a two‑day strike demanding price controls as fuel…
Jeepney driver Arturo Modelo of Manila says his daily earnings have collapsed to roughly one‑third of the usual 600 pesos after fuel costs surged, leaving him unable even to afford his child’s lunch money.Modelo joined a two‑day transport strike on Thursday and Friday, hoping to make a “deaf government” listen to the plight of drivers who can no longer earn a living on the road.The iconic jeepney, born from repurposed U.S. military vehicles after World War II, remains the most affordable commuter option in the Philippines, yet its operators are now bearing the brunt of a global oil shock.Last week, jeepney owners walked out, and this week the protest expanded to include bus, taxi, minibus and motorcycle‑taxi drivers. Nearly a dozen national transport groups marched to the Presidential Palace demanding price caps on petrol and diesel, the removal of fuel taxes, and stricter regulation of the oil sector.Organised under the No to Oil Price Hike Coalition, the demonstrators also blamed “American aggression” against Iran for the domestic economic distress, with union chair Jerome Adonis likening the impact to “a bomb dropped on us”.In response, President Ferdinand Marcos Jr declared a national energy emergency on Tuesday night – the first such declaration in the country’s history. The emergency, set to last one year, grants the government powers to accelerate fuel procurement, curb hoarding and curb profiteering.Fuel prices remain among the highest in Southeast Asia: diesel is now about $2.3 per litre and petrol close to $2 per litre in the Philippines, versus $2.7 and $2.35 respectively in Singapore, while Malaysia, Vietnam and Thailand report roughly half those prices.To alleviate the burden, the administration has introduced a 5,000‑peso ($83) subsidy for motorcycle‑taxi drivers and other public‑transport workers, and disbursed 2.5 billion pesos (≈$414 million) in fuel subsidies to roughly 300,000 transport employees. Unions claim the sector employs about two million people, leaving many without aid.During the strike, picket lines appeared at 85 commuter terminals, and jeepneys were scarce on Manila’s usually congested streets. Authorities, however, argued that the action did not cripple the city’s transport network.Union leader Mody Floranda of the Piston group accused President Marcos of favouring oil companies, saying the president could issue an executive order to cap prices but has yet to act decisively.Energy officials note that 98 % of the Philippines’ crude oil is imported and that the country’s high 12 % value‑added tax, excise duties and a deregulated market – shaped by the Oil Industry Deregulation Law of 1998 – amplify price volatility. Professor Krista Yu of De La Salle University highlighted the nation’s limited refining capacity as a structural weakness.Chief economist Emmanuel Leyco warned that the law allowing industry‑driven price adjustments “is the main culprit”, especially as “half the population is poor”.Amid mounting pressure, Marcos signed legislation permitting the temporary suspension of fuel excise taxes when crude oil prices exceed a set threshold. Opposition lawmaker Renee Co urged that the 12 % VAT also be removed, calling both taxes “regressive” burdens on ordinary Filipinos.Co and other lawmakers have also filed a resolution demanding an immediate end to the U.S.‑Israel‑Iran conflict, linking regional geopolitics to the domestic fuel crisis.
#fuel #transport #oil
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