Virgin Media is under scrutiny as consumer watchdog Which? has called for an investigation into the legality of the company’s broadband contracts. Concerns have been raised regarding the company’s ability to raise bills without any limits, potentially violating the Consumer Rights Act and constituting unfair contract terms. Which? has written a letter to telecoms watchdog Ofcom, urging them to take immediate action on this matter.
Meanwhile, chipmaker Nvidia has experienced an 843% increase in profits, primarily driven by the surge in demand for artificial intelligence (AI) technology. In the three months leading up to July 30, Nvidia reported a net profit of $6.2 billion, a significant rise compared to the $656 million recorded during the same period in the previous year. The company’s processors, which power AI-driven bots such as ChatGPT, remain highly sought after.
Energy regulator Ofgem has faced criticism for allegedly allowing energy companies to impose unfair charges. Analysts have warned that over seven million households could face higher heating bills this winter due to increased standing charges and the loss of government subsidies compared to the previous year. The Resolution Foundation has highlighted that households consuming relatively little gas and electricity will be particularly affected, emphasizing the need for action.
Retail group John Lewis has submitted a planning application for its largest build-to-rent project, which involves the construction of 430 homes above its Waitrose supermarket in Ealing, west London. However, the company has faced opposition from local residents who accuse John Lewis of underhanded tactics and rapacious behavior. Concerns have been raised about the proposed development, including towers that could reach up to 20 storeys high, intensifying the dissent among the community.
These developments have garnered attention from consumers, regulators, and local residents, with investigations and debates likely to shape the future landscape of these industries. The outcomes will have implications for millions of households and the trajectory of technological advancements.
