GB Energy has just spelled trouble for smaller energy companies in the U.K. after having become the first domestic supplier to go out of business in a decade. To see how the U.K. energy sector will shape up after this shake-up, stay right here on Sentifi.
GB Energy: Likely the first of many casualties to hit the sector
There are huge implications about the closure of GB Energy. Household bills could rise because there’s less competition, and it is likely the first of many closures that will hit the sector, according to one unidentified energy boss. That said, the collapse of a small, cheap tariff supplier was expected for quite some time because it was a result of loss-making tariffs coming home to roost according to Doug Stewart, CEO of Green Energy UK. And it’s merely a matter of time before a domino effect begins.
Lufthansa: Pilots threaten to strike on Tuesday and Wednesday
The Cockpit union walked off their jobs at Lufthansa due to a pay dispute that has festered for more than two years. The union is demanding retroactive raises of 3.66 percent a year going back 5 and a half years. But after weekend talks failed to provide any solution, the union now has threatened to strike for two more days this week.
UTC: Its plan of shifting production to Mexico meets with heavy resistance from politicians
The Indiana air conditioner manufacturer is planning to move 1,400 jobs to Mexico, a plan that is opposed by President-elect Donald Trump and U.S. Senator Bernie Sanders. Sanders even went to advise Trump to stop giving the company a new defense contract if it proceeds with its plan. Trump previously had threatened to impose taxes on the company’s air conditioner made in Mexico and shipped to the U.S.
Tabcorp Holdings: Is reportedly being eyed for an acquisition by U.K.-based Ladbrokes Coral
The U.K. company was said to have hired several advisers to work on a proposal for the acquisition that would create one of the world’s biggest gambling groups with a net worth of $6.2 billion. The news came at an interesting time because just last month Tabcorp acquired a 10 percent stake in its rival Tatts Group to support the merger of the two companies. As Ladbrokes shows no interest in acquiring Tatts Group, Tabcorp is now standing at a crossroads where it must choose between Ladbrokes and Tatts Group.
Electrolux: Is testing “Uber for laundry” idea
As CEO Jonas Samuelson is trying to make his company focus more on the demands of the consumers, the company is now testing an idea in which consumers would use their own washing machines to wash other people’s clothes. As expected, there are quite a few hurdles this idea is posing that the company needs to solve, such as the process for the situation where the clothes come out ruined. Aside from the idea, the company is also working on implementing more and new technology into its products to stay ahead of the competition.
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