Tuesday newspaper round-up: Petrol prices, Heathrow chaos, SoftBank

by | Jul 19, 2022

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Motorists can expect reductions of about £1.50 a tank after fuel prices dropped from record highs seen in recent months. According to the AA motoring group, average pump prices for petrol have fallen since the start of the month, when prices were 191.53p a litre for petrol and 199.07p a litre for diesel. – Guardian
Plans to install millions of heat pumps to replace gas boilers are “insufficient” and risk missing the Government’s net zero targets, National Grid has warned. The UK is currently installing just 60,000 pumps per year, 90pc less than the Government’s target of installing 600,000 heat pumps annually by 2028, National Grid’s electricity system operator (ESO) said. – Telegraph

The chairman of Heathrow has launched a searing attack on “slasher” airlines for failing to attract enough baggage handlers at the airport by paying higher wages. Lord Paul Deighton has leapt to the defence of under-fire Heathrow chief executive John Holland-Kaye by laying the blame on airlines for the travel chaos witnessed at airports this year. – Telegraph

The Japanese owner of Arm, the British chip designer, has reportedly paused talks with the UK government about an initial public offering in London because of the UK’s political upheaval. Boris Johnson, the prime minister, has personally courted SoftBank and Masayoshi Son, its billionaire founder, in an attempt to get the Cambridge-based technology company partially listed in the capital. But the collapse of Johnson’s government, along with the departure of key ministers involved in the talks, has prompted SoftBank to put the discussions on hold, according to the Financial Times. – The Times

LV= is under pressure to disclose whether it will hand its outgoing boss a payoff after announcing that he will leave following the collapse of the plan last year to sell the mutual insurer to a private equity firm. Members of the customer-owned insurer have been calling for Mark Hartigan to step down ever since they rejected the takeover by Bain Capital in December. On Sunday it emerged that Hartigan would go and LV= confirmed yesterday that the search for a new chief executive was under way. – The Times

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