NEWS BULLETIN

Energy Price Cap Reduced

UK domestic energy regulator Ofgem has announced a reduction in the energy price cap, which took effect from July 1st.

According to the regulator, “The energy price cap will be set at an annual level of £2,074 for a dual fuel household paying by direct debit based on typical consumption, which reflects recent falls in wholesale energy prices.” The new figure indicates a reduction on the previous cap of around 17%.

The period of this price cap runs until September 30th this year, with industry insiders expecting a further, though smaller, reduction in the next period starting October 1st.

FORBIDDEN FRUIT: APPLE WANTS ALL THE APPLES

Giant tech company Apple has been demanding Fruit-Union Suisse – a 111 year-old farming organisation – to change its logo because it wants to gain intellectual property rights over all depictions of apples. “We have a hard time understanding this, because it’s not like they’re trying to protect their bitten apple,” Fruit Union Suisse director Jimmy Mariéthoz said. “Their objective here is really to own the rights to an actual apple.”

According to the World Intellectual Property Organisation’s records, Apple has made similar requests to IP authorities around the world, and some authorities have acquiesced. Apple’s quest to own the IP rights of something as generic as a fruit is more about a litagationheavy global IP rights industry, more than a given company - albeit a giant one – whose control of an image it doesn’t actually need.

Bank To Move To Smaller City Hq

HSBC is to move out of its headquarters in Canary Wharf after more than two decades to much smaller offices in the City of London, as a result of post-pandemic hybrid working arrangements and as a result of a cost-cutting drive.

The bank, which had up to 8,000 staff at the 45-floor tower at Canada Square during peak times before the pandemic, is to move to the former head office of telecoms company BT near St Paul’s cathedral, reducing its office space by 40%.

It has been examining its options since launching a review in September and will relocate before its existing lease expires in early 2027.

GATWICK’S DIGITAL CAMPAIGN TAKES OFF

London Gatwick Airport launched a digital campaign on June 12th in the run up to submitting its Development Consent Order (DCO) to bring the Northern Runway into routine use. London Gatwick believes by bringing it into routine use, this will further boost opportunities in the local area.

The campaign will run across television, radio and social media targeting the local community as well as those working in and around Westminster with an interest in growth, planning, sustainability, or aviation. It has also connected with local partners to showcase how Gatwick has improved its businesses and lives.

The airport also wants businesses and locals to share the campaign, by re-posting online content.

SUPERMARKET DOUBLE CHECK-OUT

Morrisons has become the latest supermarket to introduce electronic gates at self-checkout, following Sainsbury’s expanded installation of new security gates in stores, forcing customers to scan their receipts in order to leave. The move prompted outrage among some shoppers who were required to scan the barcode on their receipt in order to exit, or ask an assistant to let them out if they didn’t purchase anything.

“Any customers who haven’t made a purchase simply need to ask the Morrisons customer assistant manning the self-service tills to open the gate for them,” a Morrisons spokesperson said. One person on social media retorted, “If they don’t trust people to scan their own shopping, don’t replace your staff with machines.”