Tuesday newspaper round-up: Consumer spending, house prices, Octopus Energy

30th Dec 2025 07:19

(Sharecast News) - UK consumers are reluctant to spend going into 2026 despite feeling almost as secure about their personal finances as they did at the beginning of the year, according to research. A study by the accountancy multinational KPMG found that concerns about the health of the UK economy were holding consumers back from spending, especially on eating out and big ticket items such as cars and furniture. - Guardian

UK house prices rose fastest in Plymouth this year as investment in shopping and amenities lured buyers to the south-west city, a survey of 2025 housing hotspots shows, as the central London market struggled with weaker demand. The average property price rose by 12.6% in Plymouth during 2025, the steepest rise anywhere in the country, taking the typical home price to £278,808. The data, from Lloyds Banking Group, showed Stafford and Wigan also had double-digit growth. - Guardian

Octopus Energy's tech arm Kraken has been valued at nearly $9bn (£6.4bn) after the energy giant offloaded a significant stake to a group of American backers. The UK's biggest energy supplier on Monday said investors led by D1 Capital Partners and Fidelity International would sink about $1bn of fresh money into Kraken in return for an undisclosed stake. Some of the funds will also be invested in Octopus Energy. - Telegraph

The company behind ChatGPT has advertised a job paying $555,000 (£411,000) to protect humanity from the worst impacts of artificial intelligence (AI). OpenAI is recruiting a "head of preparedness" who will be tasked with limiting the likelihood that AI systems could be used to carry out cyber attacks, help terrorists conduct biological warfare, and damage people's mental health. - Telegraph

Britain's electricity demand is on the rise after two decades of decline as electric vehicles, heat pumps and AI data centres drive a new era of electrification. Electricity consumption has increased this year for the second year running, the first time that Britain has recorded two consecutive years of power demand growth since 2002 to 2003, according to analysis by Imperial College London for Drax Electric Insights. - The Times

Homes in the most expensive areas of London have lost a quarter of their value in little over a decade, as higher taxes have led to a correction in the market. An analysis by Savills shows that prices in the prime central London market, which it categorises as being homes sold for £4.5 million or more, have fallen sharply amid higher stamp duty for purchasers and the end of non-domicile tax status, which has triggered an exodus of wealthy residents. - The Times