Thursday newspaper round-up: Energy support, hospitality industry, Bulb

(Sharecast News) - Britain's biggest business group has urged ministers to quickly decide which industries will receive energy support from next spring as hundreds of companies brace for their bills to more than double. The Confederation of British Industry called on the government to urgently set out details of how it plans to extend the energy bill relief scheme for firms with large bills beyond March 2023. The scheme, which discounts the wholesale cost of energy for all companies, charities and public sector organisations, was introduced in October to replicate the support offered to households in cushioning the shock from rapidly rising energy bills. - Guardian

Brussels is launching a fresh raid on the City's lucrative clearing houses as it attempts to force banks to shift business to the European Union. The European Commission has unveiled legislation that will give the EU a share of London's derivatives trading, which handles trillions of euros a year. - Telegraph

For Sophie Bathgate, the grim consequences of more Christmas rail strikes are all too predictable. Ever since the RMT announced fresh industrial action this week, customers have been on the phone to the London restaurateur cancelling their festive bookings. Many promise they will rebook when things have calmed down. But that's little comfort for Bathgate, whose business is facing a bleak festive period for the third year in a row. - Telegraph

The secured creditor of Bulb's parent company has done a deal to secure the energy group's technology platform as taxpayers face losses of £6.5 billion from its collapse. Sequoia Economic Infrastructure Income Fund, listed in London, has carved out Bulb's technology assets from the remnants of its parent company, Simple Energy, after backing its founders with a £55 million loan. - The Times

Investors pulled a net £1.02 billion from UK-focused funds in November, making it the second worst month on record, according to a study. They are shunning the UK because of fears that the recession may last longer than elsewhere, according to the fund flows data provider Calastone. - The Times