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BUSINESS LIVE: Four energy suppliers go bust; Starling eyes non-UK IPO

BUSINESS LIVE: Four more energy suppliers go under; Starling weighs IPO outside UK; Musk tweet rocks Tesla

Four more energy suppliers have gone bust meaning 19 have folded since August under the strain of soaring wholesale gas and electricity prices.

The collapses mean around 23,700 households and businesses will switch suppliers, energy watchdog Ofgem said.

Challenger bank Starling still plans to float on the stock market – but could be tempted away from London.

The digital lender, which counts Goldman Sachs and Qatar’s sovereign wealth fund among its biggest investors, was valued at more than £1billion earlier this year.

Tesla shares slammed into reverse yesterday after Elon Musk said it had not signed a contract with Hertz.

The electric car maker’s shares soared last week after Hertz announced a massive deal to buy 100,000 Tesla vehicles. It was Tesla’s biggest-ever order and the company’s value rose above $1trillion. 

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Omni Energy, MA Energy, Zebra Power and Ampoweruk all said they will cease trading yesterday