Millions of people will be plunged into “unmanageable” debt this winter unless the government comes up with more support for those struggling to pay their energy bills, MPs have warned. – Guardian
Amazon is to increase the price of its monthly Prime subscription service by 12.5% – or £1 – to £8.99 from September in the latest sign that delivery costs are rising. The company said the cost of an annual Prime package, which includes unlimited deliveries for online shopping, access to its video and music streaming services and its Amazon Fresh grocery deliveries, would rise by more – 20%, or £16 – to £95, although this remains a discount on the monthly option. – Guardian
The China-backed owner of Britain’s biggest microchip factory has been accused of “misleading” MPs looking into the deal, amid claims they cut customers off from using the plant. In a letter sent to MPs on the Business Select Committee, seen by the Telegraph, a former director at Welsh chip plant Newport Wafer Fab hit back at claims made by Nexperia to an inquiry into the UK’s semiconductor industry. – Telegraph
Rishi Sunak was the “driving force” behind plans to revive a regular UK-China trade summit while Chancellor, Whitehall insiders have revealed, as he was accused of playing “pure politics” over his tougher stance towards Beijing. Mr Sunak is said to have pushed China “very hard” to resume the economic and financial dialogues after the summits were suspended amid simmering tensions over Hong Kong, Huawei and human rights abuses in Xinjiang. – Telegraph
Household disposable income fell by a record £44 a week in June, marking its eighth consecutive month of decline as the cost of living crisis intensifies. The average household was £175.80 worse off in June this year than they were in the same month in 2021, according to Asda’s monthly income tracker, produced by the Centre for Economics and Business Research. – The Times
