Friday newspaper round-up: Wise, Royal Mail, Shell
By Michele Maatouk
Date: Friday 27 Jan 2023
(Sharecast News) - One of the UK's fintech darlings, Wise, could face a regulatory investigation after a rival startup accused the money transfer firm of stifling competition. London-headquartered Atlantic Money has written to the Competition and Markets Authority (CMA) to raise concerns over potential conflicts of interest and anti-competitive behaviour after Wise blocked the firm from a swathe of its own price comparison sites. - Guardian
Royal Mail has been accused of "letting people down" after delays delivering post meant millions missed doctors appointments and received important legal documents late. More than 30 million people were struck by delays to their letters this Christmas, according to research from Citizens Advice. Many people had to resort to pricier services such as Special Delivery to guarantee their post would arrive on time, the charity said. - Telegraph
Tens of billions of pounds in additional funding will be required to keep public services running this year because of a collapse in productivity that experts blamed on weak management and working from home. Public sector productivity fell 1.3pc in the three months to September compared with the previous quarter, according to the Office for National Statistics (ONS). This compares with a 0.1pc increase in output per hour across the economy over the same period. - Telegraph
Shell is considering quitting Britain's household energy supply market, putting 2,000 jobs at risk, after incurring hundreds of millions of pounds in losses over five years. The giant oil group cited "tough market conditions" as it told staff that it had begun a "strategic review" of Shell Energy Retail. The subsidiary provides energy to about 1.4 million homes, ranking as Britain's seventh biggest household supplier, and also supplies broadband to about 500,000 households. - The Times
Rents throughout Britain have reached record highs and are expected to rise still further this year, putting additional pressure on household finances amid the cost of living crisis. The average rent outside London has reached £1,172 per calendar month, up almost 10 per cent since the start of last year, according to Rightmove, the online property portal. - The Times
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