Wednesday newspaper round-up: Fuel poverty, Asda, BoE

(Sharecast News) - Millions of households in Great Britain will be pushed into fuel poverty after months of volatility on the global gas markets as energy bills rise by more than �220 a year under the government's price cap from Wednesday. As the cap on gas and electricity rates rises to the equivalent of �1,862 a year, the number of households forced to spend more than 10% of their income on energy bills will increase to 13.5m from almost 11.3m in April, according to fuel poverty campaigners. - Guardian

Building Northern Powerhouse Rail (NPR) risks repeating the failures of HS2 with "no convincing plan" to deliver it within a �45bn budget, an influential committee of MPs has warned. The government announced in January its commitment and funding for the NPR project to connect cities across the north, consisting of new or upgraded lines between Liverpool, Manchester, Leeds, York and Sheffield. - Guardian

Asda has let nearly 7,500 staff go in the last year as the costs of servicing its debt mountain hit a record high of �730m. The job losses are thought to have occurred across the struggling supermarket chain's sprawling operations as under-pressure bosses sought to offset the mounting costs of private equity ownership. - Telegraph

The Bank of England is considering introducing an AI "kill switch" to stop trading bots from causing a meltdown in financial markets. Sarah Breeden, the deputy governor, said officials were running simulations on what would happen if AI traders all tried to execute similar trades at the same time. - Telegraph

The UK's prowess in building promising financial technology and artificial intelligence start-ups has helped it record the third-highest number of "unicorn" businesses in the world. Only the United States and China have more private companies worth more than $1 billion, according to a new global ranking. - The Times

The owner of the upmarket Scotch whisky Macallan saw profits fall by almost a quarter as demand weakened for the most prestigious single malts. Edrington Group said revenue declined 14 per cent to �922.3 million in the 12 months to March this year. Pre-tax profit was 23 per cent lower at �199.6 million, down from �257.7 million last time. - The Times