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Thursday newspaper round-up: Prepayment meters, Elon Musk, FTX
(Sharecast News) - Ministers are being urged to stop the forced installation of prepayment meters after revelations that 3.2 million people - the equivalent of one person every 10 seconds - were left with cold and dark homes last year as they ran out of credit. As energy prices surged this winter, suppliers have stepped up the use of court warrants to force their way into homes to install prepayment meters, with some magistrates approving hundreds of applications at a time. For homes with smart meters, the change can be made remotely without even needing a warrant. - Guardian Elon Musk has broken the world record for the largest loss of personal fortune in history, according to a Guinness World Records report. The tech billionaire has lost approximately $182bn (£150bn) since November 2021, although other sources suggest that it could actually be closer to $200bn, the report said. - Guardian
More than 750,000 households are at risk of defaulting on their mortgages over the next two years as soaring borrowing costs make payments unaffordable, Britain's financial regulator has warned. The Financial Conduct Authority (FCA) said that over 200,000 households had already fallen behind on payments by the end of June 2022 - with bills overdue on around one in 40 home loans. - Telegraph
Striking train drivers are to reject a £5,000 pay rise as leaked proposals reveal government plans to impose greater reliance on automation across the railways. In a move that raises the spectre of more strike action, the executive committee of drivers union Aslef will next week vote against an 8pc pay rise, The Telegraph has learnt. - Telegraph
The bankrupt cryptocurrency exchange FTX has recovered assets worth more than $5 billion, according to its attorneys, after its collapse left investors, customers and lenders facing steep losses. Andy Dietderich, who represents FTX, told a bankruptcy court in Delaware yesterday that it had located "cash, liquid cryptocurrency and liquid investment securities", and also planned to sell non-strategic investments with a book value of $4.6 billion. - The Times
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