Overhauling the ‘broken’ grid queue will treble the amount of new power reaching the system per year, officials say.

Shares fell as much 9% as it revealed a slight decline in US vape sales, which it has touted as the future of the smoking industry.

A survey of estate agents said February’s interest rates cut would help boost sales momentum for the rest of the year.

Many of the stock index’s biggest names rose in value on Wednesday, led by insurance group Prudential.

Megan Greene said it is unlikely inflation persistence will ‘fade on its own accord’, and said policymakers should be cautious with rate cuts.

The blue-chip index has hit a succession of record highs in recent weeks.

Twelve Labour MPs and one Green MP are trying to get the Government to consider how to transition parts of the economy to a four-day week.

Catherine Mann said more job cuts and a slowdown in hiring partly driven by higher company taxes will slow price rises across the economy.

The export-heavy FTSE was weighed down partly by a recovery in the value of the pound earlier in the day.

Huw Pill called an expected rise in inflation this summer an ‘upward blip’ and said it would probably not affect everyday prices longer term.

False or misleading adverts for compensation claims, cryptocurrency and debt relief products are on the up, said the Financial Conduct Authority.

London’s blue-chip index smashed through recent highs after experts said the Bank’s announcement gave it ‘a shot of adrenaline’.

Abby Thomas has stepped down following criticism over the ombudsman service’s role in the motor finance commission scandal.

The base rate fell to 4.5% on Thursday, but the Bank halved the UK’s economic growth forecast for this year while predicting surging inflation.

The Bank voted to reduce the cost of borrowing on Thursday, but slashed its growth forecasts for the UK economy.

The UK’s base interest rate currently sits at 4.75%.

An analyst said that a ‘positive mood’ was re-emerging on financial markets.

Experts are predicting a rate cut to 4.5% – but signs of rising inflation leave the Bank walking ‘a tightrope’ for future reductions this year.

The supplier’s customer base grew to 7.3 million across the UK in its most recent financial year, making it the country’s largest energy supplier.