Pound strengthens against the dollar

N orway has drawn up plans to ration electricity exports in a move that has heightened fears of energy shortages in the UK and Europe this winter. The government in Oslo on Monday announced new rules limiting the sale of power to foreign countries as heatwaves threaten Norway’s hydroelectric power generation. Experts said the restrictions threatened the UK’s plan to draw power from Norway this winter via the North Sea Link - leaving electricity supplies more stretched and risking even higher bills for consumers. The National Grid has already revealed that the UK is set to be more dependent than ever on the Continent for power, with interconnectors expected to provide up to 5.7 gigawatts of electricity at peak times. About one quarter of that total – or 1.4 gigawatts – is set to come from Norway. Kathryn Porter, an energy consultant at Watt-Logic, said the proposed restrictions “put at risk the ability of Britain to import from Norway this winter”. “National Grid ESO needs to … [Read more...] about Norway threatens to ration electricity in fresh blow for UK and European energy supplies

If you have paid even a passing interest to the Tory leadership race , you will have heard a certain phrase snarled like a profanity by Liz Truss: “Treasury orthodoxy”. To the front-runner, the hive mind of the civil servants running the most powerful government department is a deep-rooted barrier to a post-Brexit economic revolution . At the centre of it all is a man who has the establishment coursing through his veins as the son of a Treasury mandarin, and who has been part of the Downing Street set-up since he was a child, when he would play the piano at John Major’s Christmas parties. His name is Sir Tom Scholar, permanent secretary at the Treasury , and he is one of many people in government whose future is likely to hinge on the outcome of the leadership contest. In a Rishi Sunak premiership, the Treasury’s top civil servant could expect to be made Cabinet Secretary, sitting at the very centre of power in Number 10. In a Liz Truss premiership, he could almost … [Read more...] about Meet the mandarin in Liz Truss’s sights as she takes on Treasury orthodoxy

TICK TOCK, tick tock. Can you hear that Brendan Rodgers? It’s the sound of the clock counting down the days to Leicester’s first game of the new season. Five months since Rodgers declared the need for six new players to overhaul his ageing squad, he has yet to make a single signing. With their opening fixture at home to Brentford now just 16 days away, Leicester have been neither shaken nor stirred this summer. Worse still, word has got out around the rest of football that the Foxes need to sell before they can buy. Which might explain why they haven’t received a single bid for Youri Tielemans even though he is currently available for a bargain £30million . Read More in Football TIME TO DREAM Prem season starts TODAY - pick your Dream Team for chance to win £100,000 Because Premier League rivals are happy to keep Leicester sweating until the final few days of the transfer window, confident that they will be forced to further slash … [Read more...] about Leicester drifting towards mid-table mediocrity with cash-strapped Foxes unable to back Brendan Rodgers

Jill Biden had to help Joe into his jacket after the US president struggled to put it back on after leaving his helicopter during a visit to Kentucky. A shaky Mr Biden, who is recovering from a bout of Covid-19, was seen on video trying for 30 seconds to put his arm through the sleeve of his suit, which was being blown by the wind from the Marine One helicopter’s blades. Moments later, the 79-year-old then dropped his signature aviator sunglasses to the ground and had to bend down to pick them up. The president and first lady were in Kentucky to meet with first responders and families who had lost homes after the worst flooding in the state’s history in late July. It was his first official trip after testing positive for Covid-19 last month, after which he was holed up in the White House for more than two weeks in isolation. He tested negative on Sunday and was deemed fit to safely return to public engagement and presidential travel by his doctor. He still appeared to … [Read more...] about Watch: Joe Biden gets stuck in his jacket as wife Jill comes to the rescue