British telecoms giant; Britain's leading fixed-line, broadband and mobile provider
Ofcom has fined Virgin Media £28 million after findings that millions of calls were mishandled between 2022 and 2024, delaying or blocking contract cancellations and encouraging staff to retain customers via incentives. The regulator says customers faced hold times, transfers, and deliberate call-dropping, impacting switching to rivals. Virgin Media has overhauled its customer services and will compensate affected customers.
A consortium of lenders to Thames Water is negotiating a revised rescue package that could include a golden share giving the government veto power, while considering enhanced local oversight. The talks come as the government signals a drive for greater public control in the sector.
Amazon’s UK tax contributions have risen by at least 20% to exceed £1 billion for 2025, driven by higher national insurance, corporation tax and business rates. The company employs about 75,000 in the UK and has announced about 16,000 global layoffs while planning a £40 billion UK investment through 2027, including drone delivery trials.
The National Audit Office says awareness of social tariffs among broadband and water customers is low, and regulators must align measures with consumer needs. Ofgem is raising debt relief efforts as energy prices rise, while water tariffs vary by region and face criticism as a “postcode lottery.”
A wave of studies and official reports show that hotter summers are driving higher electricity costs for households in the US and UK. Analysts warn that rising prices, delayed aid, and tariff changes will shape bills this summer, triggering cautious budgeting and potential policy responses.
Two teenagers have pleaded guilty to a 2024 cyber-attack on Transport for London that disrupted Oyster services and affected millions of customers. The defendants, linked to the Scattered Spider group, face sentencing in July after admitting conspiring to unauthorised acts against TfL’s systems and, in one case, additional charges relating to US healthcare firms.
Markets are stabilising after a stretch of high activity in tech options, with traders shifting focus as implied volatility cools. Small caps are leading potential next moves, while global equities reflect a policy-led, carry-friendly regime.