South East Water fined £22.5m for ‘repeated supply failures’ in Kent and Sussex

South East Water has been fined £22.5m by Ofwat for repeated supply failures in Kent and Sussex between 2020 and 2023 that affected more than 280,000 people.While the root cause of the water shortages was extreme weather, the water regulator for England and Wales found that they were “in part attributable to and/or exacerbated by failures by South East Water itself to develop and maintain an efficient water supply system”.This has affected 286,645 customers since 2020, with some customers being affected repeatedly, Ofwat said in its enforcement order proposal.In January, Ofwat began a separate investigation into a series of outages before Christmas that left tens of thousands of residents in Kent and Sussex without water for up to a week, many of them in Tunbridge Wells

Australian petrol retailers accused of price gouging over rising fuel costs amid Iran war

Sydney motorists are paying up to 25 cents more for a litre of petrol now than they were before the start of the US-Israel war on Iran, as motoring groups accuse retailers of using the conflict as an excuse to gouge their customers.After Jim Chalmers instructed the Australian Competition and Consumer Commission to keep an eye out for profiteering behaviour, a spokesperson for the watchdog said it had “observed average retail regular unleaded petrol prices in several cities moving higher over the last few days”.Motoring groups NRMA and RACQ have already accused retailers of price gouging, amid reports of long queues at some service stations as motorists rush to fill up before the surge in global crude oil prices feeds through to the bowser.It comes as Australians face the prospect of another interest rate hike, with Reserve Bank governor Michelle bullock warning there was a “live” chance of an increase this month as the global oil price spike adds to already high inflation.The roughly 15% jump in global oil prices since the start of the US-Israeli missile strikes should take seven to 10 days to begin to be reflected in the cost of fuel at Australian service stations, according to industry estimates

‘A big burden for farmers’: Gulf shipping crisis threatens food price shock

The global fertiliser supply chain could face significant disruption if the effective closure by Iran of the strait of Hormuz persists, prompting concerns from analysts about crop production and food security.Passage through the waterway, located off Iran’s southern coast, has mostly stopped since the US and Israel launched their attacks at the weekend.Between a quarter and a third of the global trade in the raw materials for fertiliser passes through the strait, as well as a fifth of seaborne crude oil and gas.The de facto closure of the strait is affecting the transport of ammonia and nitrogen, which are key ingredients in many synthetic fertiliser products.Roughly half of global food production depends on synthetic nitrogen and crop yields would fall without fertiliser

Woolworths shoppers concerned new anti-theft gates may trap them and hit their children

The trial of a security gate in a Woolworths in Sydney has left customers concerned for their safety, with some saying the series of low-height bars have “hit” children in the arms, legs and face.Maria, who was shopping with her two children at Woolworths in Bass Hill in south-west Sydney on Wednesday, told Guardian Australia that she noticed the new entrance “straight away”.“The level that they’ve put it at, is the level of the kids in the pram,” said Maria, who asked that her surname not be published.“If you wanted to enter without hitting your child, you’d have to go in backwards.”Woolworths is trialling the new anti-theft entry gates in six stores, including Sydney’s Bass Hill and Camberwell in Melbourne’s east

Rachel Reeves should scrap the North Sea windfall tax now

The chancellor’s failure to reform or remove the energy profits levy (EPL) – AKA the North Sea windfall tax – in her spring forecast was a case of “political expediency and more to do with putting one byelection result before the economic needs of the country”. Who said that? Some Tory or Reform politician being opportunist as war in Iran puts the UK’s energy import dependency in the spotlight?Actually, no, it was the general secretary of the GMB union, Gary Smith, on Wednesday, demonstrating once again that views on the North Sea oil and gas do not fit neatly into a left-right divide. He has been making the principled case for an orderly transition in energy for ages, warning that decarbonising via deindustrialising costs jobs and will end up pushing voters rightwards.As it happens, one suspects Rachel Reeves’ silence on the EPL in her statement – despite heavy Westminster rumours that something was in the offing – was probably also motivated by war in Iran and spikes in the prices of oil and gas. It is harder, politically speaking, to reform a windfall tax if there is a chance that windfall conditions are returning

How will war in the Middle East affect your finances?

The war in the Middle East is thousands of miles away, but gyrations in financial markets and surging energy prices threaten a new cost of living crisis in the UK.Here is how it could affect your finances.Mortgage holders benefited from cheaper home loans in recent months after the Bank of England cut interest rates four times in 2025 to bring the base rate down to 3.75%. But that could be about to change