The situation in Crimea does not pose a risk to Britain´s energy security as natural gas is imported from Norway. Also, power providers hedge their supplies 18 months in advance. Hence, there would be no excuse for them to raise prices on consumers. However, Ed Davey also told the BBC that an escalation of tensions, to the extent that a military conflict came about, and if it dragged on for months and months, could have an impact on prices, The Times reports.
International investigators continue to be at a loss regarding what provoked the crash of a Malaysian Airlines Boeing 777 this past weekend. The crew did not notify of any problems nor did any of the aircraft´s transponders warn of any signs of distress before the plane disappeared from radar scopes. In recent weeks US authorities had been tracking several "airline plots" but the Chairman of the House Intelligence Committee told media that the US military had not detected any signs of a mid-air explosion, according to The Wall Street Journal Europe.
On Sunday evening, Labour claimed that there was a rising tide of insecurity in the UK labour market. Shadow business secretary Chuka Umunna attacked the coalition for the tripling in so-called 'zero-hours' contracts since they won the last elections. Revised data from the Office for National Statistics revealed that 583,000 employees had no other option but to sign up to such agreements last year, twice the government´s estimate, The Guardian writes.
Following a decade at Asos, Labour peer Lord Waheed Alli is looking to take advantage of the strong growth forecast for e-commerce in India. Online retail sales on the sub-Continent are forecast to grow at a 25% per year clip over the next five years thanks to the take up of smartphones. Alli is the Chairman of Koovs, the Indian outfit which is now raising £22m through a listing on AIM. The initial public offering has been twice oversubscribed, The Daily Express reports.
When it releases its full-year results this Thursday Morrison will unveil aggressive price cuts aimed at discounters such as Aldi and Lidl, who have continued to snap up market share even in the midst of the economic recovery. The supermarket operator is also expected to announce that it will sell approximately £500m of property assets, less than the £800m which some parties are calling for, some of which may be returned to shareholders, The Times says.
High Street retailer Marks & Spencer is winning plaudits from experts before the launch this summer of its "mass market" current account with no monthly fees when in credit. Amongst the other enticing features of the new account are an overdraft deal, a rewards scheme, no minimum monthly funding requirement, and lower-than-average charges when using cash machines overseas, The Guardian says.