(Bloomberg) -- Here’s the key business news from London-listed companies this morning.
Ofgem: The energy regulator has proposed a five-year plan to deliver sustainable, more reliable, energy grids in a way it says could lead to a fall in network costs for consumers.
- The regulator says “new smart gadgets” could draw energy from the grid at lower rates when demand is low or it's sunny and windy, balancing out power use, and saving money
Moonpig Group Plc: The online gifts seller has seen “no material impact” on its gross margin rate from inflation, and has today raised its margin outlook following the acquisition of Buyagift, an experience gifting platform.
- The retailer says there has been an increase in shipping costs, although this has been mitigated by higher stamp prices in the UK, which in turn, has been passed on to customers
Dalata Hotel Group Plc: The Irish hotel chain says the recovery of the hotel sector in Dublin has been particularly strong due to the return of leisure travel, and lower supply as rooms are being used to house refugees fleeing the war in Ukraine.
- The groups revenue per available room in Dublin is expect to be 18% ahead of 2019 levels for May and June
Outside The City
Boris Johnson is expected to push NATO allies to raise their target for defense spending when they convene for a summit in Madrid today.
The UK kicked off its inquiry into the government’s handling of the coronavirus pandemic yesterday, more than two years after it first went into lockdown.
In Case You Missed It
Reckitt Benckiser Group Plc is considering whether to shelve the sale of its infant nutrition unit, as the high-profile deal falls victim to chaos in the industry and worsening financing markets, people familiar with the matter told our deals team.
And is your neighborhood quieter than ten years ago or does it feel busier than ever? Populations in London’s richest boroughs declined over the last decade, data shows, while poorest boroughs became more crowded.
More data on house prices tomorrow are expected to show the market cooling as the double whammy of high interest rates and high prices squeezes budgets.
On the earnings front, energy services provider Hunting Plc is set to report Thursday.
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