Around 120,000 Italian service sector firms could go out of business over the next ten months due to surging energy costs, with the loss of 370,000 jobs.

The European Union is preparing to take emergency action to reform the electricity market and get a grip on energy prices that have soared since the beginning of the war in Ukraine.

The Scottish government’s energy secretary says there is a “real risk that lives could be lost” as a result of soaring energy prices.

Millions of UK households are set to experience a sharp rise of more than 50 percent in their gas and electricity bills in April, after energy regulator announced a record-breaking increase to its price cap.

This weekend, countries accountable for 80 percent of the global economy gathered in Rome for the G20 summit.