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British Gas owner hands investors £300m as customers face soaring bills

www.theguardian.com 10-12-2024 01:29 1 Minutes reading

Campaigners criticise Centrica, saying it has made more than £7bn in profits since start of energy bills crisis

The owner of British Gas has angered fuel poverty campaigners by offering its shareholders an extra £300m this year as millions of customers brace for rising energy bills through the winter.

Centrica expects to buy back shares worth £300m before September, meaning it will have repurchased £1.5bn in shares since November last year – equivalent to a fifth of the company’s total market value.

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More drama in the currency markets!

India’s currency, the rupee, hit an all-time low today before rebounding – sparking speculation that the Indian central bank was selling dollars via state-run banks to curb the weakness.

The Reserve Bank of India “stepped in heavily” near the 85.80 level, which helped the rupee recover, a trader at a foreign bank said.

Dollar demand related to maturing non-deliverable forwards (NDF) and currency futures weighed on the rupee on Friday while panic dollar buying from importers compounded the pressure, traders said.

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