Thursday newspaper round-up: Water bills, British Gas, Meta
By Michele Maatouk
Date: Thursday 02 Feb 2023
(Sharecast News) - Households in England and Wales are facing the biggest increase to water bills in almost two decades from April, putting further pressure on budgets already weathering the cost of living crisis. The industry body Water UK said the typical water bill will increase to an average of £448 a year from April, a hike of 7.5%. - Guardian
British Gas has suspended the use of court warrants to force the installation of prepayment meters after evidence that agents working on its behalf ignored customers' vulnerabilities. MPs and consumer groups had raised concerns that elderly and disabled people were being forced on to prepayment meters and then routinely cut off from heat and power as they could not afford to top up. - Guardian
BT rival Cityfibre is to cut up to 400 jobs amid rising costs and growing competition between the UK's high-speed broadband providers. The telecoms firm, which is backed by Goldman Sachs, is reducing its 2,000-strong workforce by up to a fifth in a bid to cut costs. - Telegraph
Mark Zuckerberg has announced plans for a $40bn share buyback at his embattled social media group after the company posted its first ever drop in annual revenue. Meta, which owns Facebook, Instagram and WhatsApp, said it would spend billions more buying up its own shares after a historic slump last year. - Telegraph
Airbus and Qatar Airways have settled a dispute over surface damage on the airline's grounded A350 jets, the companies said yesterday, averting a potentially damaging UK court trial. The "amicable settlement" ends a $2 billion row over the safety of Europe's premier long-haul jet - an unprecedented public rift that had led Airbus to revoke dozens of other jet orders from Qatar ahead of a scheduled June London court trial. - The Times
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