Energy Firms Return £153m In Unclaimed Credit

The so-called "Big Six" energy companies have launched a campaign to reunite former customers with £153m of unclaimed credit on their accounts.

Up to three million households could benefit from the MyEnergyCredit initiative.

The scheme, launched by the industry body Energy UK, is a response to a demand for action from the regulator Ofgem back in February.

Its estimate then was that up to £400m in closed household and business accounts from direct debit payments was being held by energy firms.

Energy UK said the campaign would encourage customers who have switched suppliers or moved home without leaving a forwarding address to get in touch with their old company if they think they have left money behind.

It also announced changes to help prevent such cash piles building up in future, though it would now impose a two-year deadline for collection of credit, with any funds left behind after that time being donated to help vulnerable customers.

Customers are being urged to claim money left in credit in closed accounts

Energy UK's chief executive Angela Knight said: "We are urging former customers to come forward and make a claim.

"Customers who think they haven't left a forwarding address or a final meter reading when they moved or switched should contact their old supplier.

"The web site myenergycredit.com will help you do this.

"Inevitably, there will be some former customers who will not be found and so the major suppliers are announcing what will happen to credit balances from now on.

"In future, after two years, the credit balance will be used to help vulnerable customers - and suppliers will make it very clear what is happening.

"By 2018, these new arrangements are expected to add up to around £65m of help to those in difficulties.

"The suppliers will kick start this process now by donating £38m for the first two years combined."

Ofgem chief executive Dermot Nolan said: "Today's industry announcement is an encouraging first step by the six largest energy companies to address Ofgem's call to reunite customers with their cash.

"It is good news for consumers and if you think you could be owed money we recommend that you contact your previous supplier.

"This issue is part of a wider challenge of delivering good customer service that the industry must crack if they are to rebuild customer trust and confidence.

"Failure to deliver on the initiatives announced today could trigger further action by Ofgem, including enforcement."

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Sir Ian Cheshire Leaving B&Q Owner Kingfisher

The chief executive of the group behind the B&Q DIY brand, Sir Ian Cheshire, is to leave at the end of the firm's financial year.

The announcement was made as Kingfisher confirmed half-year results that slightly exceeded market expectations.

Europe's largest home improvements retailer said Sir Ian, who took over in January 2008, would be succeeded by Veronique Laury, the boss of its French unit Castorama.

The firm, which runs the B&Q and Screwfix chains in Britain and Castorama and Brico Depot in France and other markets, said it made an underlying pre-tax profit of £364m in the 26 weeks to August 2.

Veronique Laury is currently running Castorama in France

Profit before tax fell 6% to £375m.

Kingfisher said it had a strong first quarter as fine weather drove sales at stores open over a year up 6.1% but experienced
a sharp slowdown in its second quarter.

The firm cautioned in July that its markets in the second quarter, notably in June, had been slower than anticipated, particularly in France and Poland.

B&Q China sales decreased by 7.3% on a like-for-like basis - impacted by a slowing Chinese property market.

UK & Ireland retail profit rose 17.7% to £166m compared to the same period last year.

It was the succession plan which dominated reaction to Kingfisher's update as Sir Ian had presided over a 120% increase in the group's share price during his near seven-year tenure.

He has more recently weighed in to the Scottish independence debate, telling Sky News on Tuesday that Scottish consumers could face higher prices if they back the Yes campaign.

His replacement, who will become the fifth female CEO of a company on the FTSE 100, has been with Kingfisher since 2003 and her previous roles have included running the commercial operations of the UK businesses.

Kingfisher described her as having "a passion for home renovation, having completely renovated three homes".

Its statement said: "This decision, reached during the regular succession discussions between the board and (Cheshire) recognises that the next phase of Kingfisher's evolution requires a significant leadership commitment and continuity."

Kingfisher's share price rose 3% in early trading on Wednesday.

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Scottish Vote: BP Says No To Independence

BP has weighed into the Scottish independence debate by declaring its support for the "integrity of the United Kingdom".

The oil firm's public statement was its first to directly support the Better Together campaign after similar comments earlier this year, in a personal capacity, by chief executive Bob Dudley.

Mr Dudley spoke out on Wednesday in the wake of criticism of Yes campaign estimates for future North Sea oil production and revenues by Sir Ian Wood.

The North Sea oil tycoon - acknowledged by both Prime Minister David Cameron and Scottish First Minister Alex Salmond as the industry's foremost expert - urged Scots not to gamble their economic future on misleading information and promises that could not be delivered.

He cited a report, which he said was sponsored by Yes campaigners and welcomed by Mr Salmond, which claimed there could be another 21 billion barrels of oil from unconventional shale reserves in the North Sea.

Sir Ian sad: "Quite frankly the N-56 report is an insult to the Scottish people.

"As passions rise and hearts risk overtaking minds in the debate, it is vital that Scots are able to make their decision based on fact and not fantasy.

Bob Dudley sees Scotland's future best served within the UK

"The N-56 report gives the impression that 21 billion barrels are in reserves. Nothing could be further from the truth."

Sir Ian has previously stated his belief that there are just 15 years of reserves left before major damage is inflected on the Scottish economy from declining production.

His comments on Wednesday gave rise to BP coming out in favour of the Union.

Mr Dudley said: "BP has been in the UK North Sea for 50 years and we hope to operate here for many years to come.

"However, the province is now mature and I believe Sir Ian Wood correctly assesses its future potential.

"The opportunities today are smaller and more challenging to develop than in the past.

"We also face the challenges of extending the productive life of existing assets and managing the future costs of decommissioning.

"Much of this activity requires fiscal support to be economic, and future long-term investments require fiscal stability and certainty.

"Our business invests for decades into the future. It is important our plans are based on a realistic view of the North Sea's future potential and the challenges the industry faces in continuing to operate here.

"As a major investor in Scotland - now and into the future - BP believes that the future prospects for the North Sea are best served by maintaining the existing capacity and integrity of the United Kingdom".

Leader in Aberdeen of pro-independence group Business for Scotland, Kenny Anderson, rounded on Sir Ian's comments.

He said: "We have stated that 24 billion barrels of oil is a reasonable target to extract if the North Sea is managed professionally and revenues maximised.

"Our sources for these estimates have included Oil and Gas UK, Professor Alex Kemp, Sir Donald McKay and many other leading forecasters and now it seems Sir Ian Wood himself once predicted the higher figure of 25 billion barrels left to produce.

"One thing is clear, all of the forecasts of the real experts - including Sir Ian's pessimistic one - are far, far higher than those published by the Westminster Government and claimed by Better Together.

"The North Sea represents a huge opportunity to Scotland as an independent country if we move from Westminster's cash cow approach to one of intelligent stewardship in an independent Scotland."

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Critics 'Blown Away' By Apple Watch Launch

Most of the post-launch reaction focused on the launch of the Apple Watch, a new product category for the California company.

TechCrunch writer John Biggs said: "First, as a watch lover, I'm blown away.

"Apple has gone above and beyond the job in terms of materials and design and, more important, the interface. Here's everything we know about the new Apple Watch."

Mashable listed "11 things the Apple Watch looks like" - including "your dad's favourite belt", a slap bracelet, a Casio data bank and a yoga mat.

The iPhone launch was overshadowed by the Watch unveiling

Rob Hodges from mobile site Mobiles.co.uk said: "Taking the mobile industry by storm, wearable tech will be a future focus for all major smartphone manufacturers and Apple is clearly staking their claim with the Apple Watch.

"With the iPhone 6 offering Touch ID, NFC payments and an improved Wi-Fi chip, this could be the next revolutionary area for the company."

Cnet wrote: "Several mobile companies have already released or announced their own smart watches.

"However, those devices have struggled to catch on with mainstream consumers. Part of the reason for that is a killer app for the category has failed to emerge. It also hasn't helped that the world has been waiting to see what Apple would bring to market."

Actor Stephen Fry, who was at the launch, wrote on Twitter: "Complete standing ovation for the Apple watch - looks utterly stunning - I'm worse than drooling."

Meanwhile Stuff.TV focused on the two new iPhone models, saying: "If Apple can pull of NFC payments (as nobody has managed yet) health and fitness tracking (as nobody has managed yet) and seamless integration of its phones, tablets, laptops and computers then the iPhone 6 will be a formidable device to compete with."

On the Sky News Facebook page, opinion was split.

Nathan Mass said: "Apple offers devices with an unbeatable premium build quality and for that reason alone, I will always be an apple fan."

But Zara Le Brocq said: "Stick to my trusty Samsung. Now Apple fans can stop with the 'android phones are stupidly big' comments."

Bethwell Dube added: "iPhone has gone backwards."

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Apple Unveils 'Supersize' iPhone 6 And Watch

Apple has lifted the lid on bigger iPhone 6 models, with screen sizes of up to 5.5 inches, and also unveiled its first watch.

The new phones are a significant upgrade from the outgoing flagship, the iPhone 5S, which has a 4-inch screen.

The watch - called simply Apple Watch - is customisable in "millions" of ways, said the firm at its annual showpiece event in California.

The company says the watch is a health and fitness device with many of the same features as a smartphone - but crucially needs an accompanying iPhone to work.

It uses GPS and Wi-Fi to track the distance covered by the wearer for example, and a tap of the screen can send an alert vibration to another Watch user.

It will start at $349 (£216) and comes out early next year.

Ernest Doku, technology expert at uSwitch.com, said Apple had nailed a "truly attractive design" which could win over consumers.

The Apple Watch also requires an iPhone to function

However, he added that Apple were quick to gloss over the fact that an iPhone is also needed - making it an even more costly product.

Among the features of the two new iPhones are a better sensor and autofocus for the camera, and a landscape mode.

A HD FaceTime camera also promises improved face detection.

The iPhone 6 comes with a 4.7-inch screen, while the 6 Plus has a 5.5-inch display.

"I'm pretty amazed they've dumped the 4-inch iPhone - it was hugely successful," said Duncan Bell from gadget magazine T3.

"It would have at least slightly addressed criticisms that all Apple does is follow the market, rather than leading as it once did."

A new payment process called Apple Pay was also announced. It uses fingerprint ID for security and stores payment information on a NFC chip.

The event is arguably the biggest in the tech calendar

Apple claims the feature is more secure than keeping cards in a wallet.

Payments using NFC (near-field communication) technology could be "revolutionised" if Apple's feature catches on, says one expert.

Anthony Duffy, director of retail banking at Fujitsu UK, said the company had "again sent out a challenge to the industry".

"Apple's decision to go for NFC - a technology that up until now has struggled to clearly stamp its mark on the payments industry - is a bold one," said Mr Duffy.

Shares in the company jumped following the watch unveiling, but then settled back down to the pre-event price.

The landscape mode takes advantage of the bigger screen

Chatter about the handsets' vital statistics had been circulating for months on technology websites and blogs, and many were proved right as Apple boss Tim Cook stepped on stage for the big reveal.

The phones go on sale in the US and eight other countries on September 19. Pricing is still to be announced.

Apple had been under pressure to make a bigger iPhone after rivals outgunned it with handsets like Samsung's Galaxy S5 and the HTC One M8.

"Apple has finally learnt (from) Samsung that bigger is better," said Ashley Michael Pearson on the Sky News Facebook page.

Others, such as Nathan Mass, were more complimentary: "Apple offers devices with an unbeatable premium build quality and for that reason alone, I will always be an Apple fan!"

The Cupertino firm is also not the first tech giant to launch a watch product - Samsung brought out its Gear smartwatch in September 2013.

Google has also plunged headfirst into the trend for wearable technology with its Glass product.

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Santander Chairman Emilio Botin Dies Aged 79

The death from a heart attack of Santander's chairman Emilio Botin - known as "El Presidente" - has raised the prospect of his eldest daughter Ana being handed the role.

Ana Botin, who currently heads Santander UK, is understood to be in line to succeed her father ahead of a board meeting on Wednesday that will nominate a new chairman.

Emilio Botin, who became one of Spain's most powerful men, was credited with transforming Santander from a small domestic lender into the eurozone's biggest bank.

Ana Botin is favourite to succeed her father

He was the third generation of Botins to lead Santander, amassing €1.4trn (£1.12trn) of funds and nearly 200,000 employees.

His decisions to expand - through the purchases of Banesto in 1994 and Abbey National 10 years later - complemented an aggressive march into Latin America.

The moves helped shield Santander from the eurozone debt crisis and Spain's long-running recession, with the bank now making only about 14% of its profit at home.

The bank's share price fell 1.7% on news of Emilio Botin's death, with the focus fully on who will succeed him.

Any decision to back Ana could spark controversy after banking dynasties came under scrutiny in the wake of the scandal at Portugal's Banco Espirito Santo, where the founding family's holdings are being examined over financial irregularities.

Earlier this year, two shareholder advisory firms recommended investors vote against her re-election as a director - one because it thought Botins were over-represented on the board, the other because they considered there were not enough independent members.

In the event, she got the backing of 81.3% of the votes, almost unchanged from three years earlier.

She has run Santander UK since November 2010.

Under her tenure, Santander's UK Bank Account market share has risen from 9.2% to 10.0%, though its UK mortgage gross lending market share has fallen to 14% from 19%.

Spain's Prime Minister Mariano Rajoy was among those to pay tribute to her father.

He said: "He was a man who has been able to make Banco Santander the most important bank of our country.

"I had a meeting with him last week and he was well and in good form. It has been a surprise and a blow."

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Scotland Vote: Business Boost To Yes Campaign

The campaign to win support for Scottish independence has been boosted by 100 new figures from the world of business.

Business for Scotland said they added their names, in a personal capacity, to a newspaper advert it had taken out.

The move follows open letters to newspapers, signed by business leaders, organised by both the Yes and No camps.

Chair of Business for Scotland, Tony Banks, said: "We have 2,650 members in the organisation now and this list of 100 notable names adds to the 200 who went public with our support a couple of weeks ago.

He said the list included names from major international organisations and some smaller businesses - with women and young entrepreneurs all represented.

"Small and medium-sized enterprises (SMEs) make up 99.3% of all Scottish businesses and 97% of all Scottish exports," said Mr Banks.

"They create the majority of private sector jobs in Scotland and are a crucial part of the Scottish economy."

The referendum is due to take place on September 18

Diane McWade, managing director of Evolution Network Ltd, was among those to add her support for a split from the UK.

She said: "In my forty years in business I have worked in every part of the UK and across the USA and Europe.

"Scotland as a brand has always been an asset and I am certain that independence will help my business flourish.

"When we take charge of our own affairs our international partnerships will be more effective and more productive.

"With independence we'll all be working towards a shared vision - success".

Scotland's future currency is a key debate

News of the Yes camp's growth in public support was released as leaders of the three main political parties in Westminster descended on Scotland to support the opposing Better Together campaign, as polls suggest a tight vote on September 18.

Uncertainty over the result has been blamed for evidence of slowdowns in the Scottish property and jobs markets.

The Financial Times on Wednesday quoted Chris Fisher of investment administrator Multrees Services, who said that hundreds of millions of pounds from wealthy investors had already moved out of Scotland in an "asset exodus".

Online brokerage Nutmeg reported that £50m of savings had moved out of the UK due to the uncertain investment picture.

Another report signalled a direct impact on the value of Scottish businesses from uncertainty.

Banc De Binary said the 30 biggest Scottish-based listed firms had seen an average share price drop of 4.2% over the past six months compared to a 1.3% fall on the FTSE 100.

Leading oil industry figure Sir Ian Wood also claimed on Wednesday that Scots voters were being mis-led and influenced by highly inaccurate forecasts on projected oil revenues from the North Sea.

He spoke before a new paper emerged by oil economist Professor Alex Kemp, that predicted 99 new oil discoveries over the next thirty years which will be commercially viable.

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Bupa Chairman Gives Backing To Scots No Vote

What Happens If Scotland Leaves The Union?

Updated: 2:00pm UK, Tuesday 09 September 2014

Supporters of both sides of the Scotland referendum debate are mounting a final push for votes before the ballot on September 18. Sky News looks at what will happen if Scotland votes Yes to exit the UK:

:: 1.  When would Scotland become independent?

The Scottish Government has set a date 18 months from now, March 24, 2016, for Scotland's independence day.

:: 2. What would happen immediately after a Yes vote?

The first step on the morning after the result comes in would involve the forming of teams from both the Yes and No camps to take part in behind-the-scenes negotiations. SNP leader Alex Salmond has already indicated his deputy Nicola Sturgeon would lead the talks for the Scottish nationalists. It is not yet known who would spearhead the Westminster team.

:: 3. What amendments would there be to the constitution?

The negotiating teams would devise a new constitution for Scotland and dissolve the 1707 Act Of Union.

:: 4. What would happen to the Queen?

The Yes campaign has said Her Majesty would stay as monarch so it would not be surprising if Mr Salmond seeks an audience with the Queen in the days and weeks after the vote.

:: 5. Would Scotland take part in the May 2015 General Election?

Scottish voters would still be able to take part, but their representatives would only potentially serve a 10-month term in office.

:: 6. What currency would Scotland use?

That is still being thrashed out and yet to be decided. The three main Westminster parties - the Conservatives, Labour and the Liberal Democrats - have ruled out a currency union, although Mr Salmond insists an independent Scotland would keep the pound.

:: 7. How much of the UK national debt would be transferred to Scotland?

This is not yet known, but it is likely to be worked out on a per capita share - based on population.

:: 8. What would happen to Scotland's standing in global affairs?

Scotland would have to negotiate its own entry into the European Union and Nato, and the population would have to decide whether they want to have the euro.

:: 9. What effect would independence have on Scotland's defence force?

The issue of defence is probably one of the most emotive - and uncertain. Scotland is likely to have its own independent defence force, in time, depending on practicalities and finances, for it has its North Sea oil and fishing industries to protect. Scottish nationalists are opposed to having the Trident nuclear deterrent and would want to see it removed from Faslane, on the west coast of Scotland, as soon as possible. However, Nato is fundamentally a nuclear alliance, and if Scotland struggles to become a member of Nato, it is likely to struggle to join the EU too, which would have a big impact on the Scottish economy. There is also the matter of service personnel - some of which will be currently serving in historic English regiments. Any division of troops north and south of the border would take years.

:: 10. What would independence mean in terms of travelling across the Scotland-England border?

An independent Scotland would control its own borders. The SNP would like to see an open border, but Home Secretary Theresa May has already warned she will not allow Scotland to be used as a back door for immigrants getting into England if Scotland adopts a looser immigration policy. So, we could see passport controls on the border between the two countries.

:: 11. Would Scottish citizens need new passports?

A lot depends on whether Scotland joins the EU. Scottish citizens would be entitled to a Scottish passport, but a UK passport would still be valid until it expires. British citizens who were habitual residents in Scotland would be automatically considered Scottish citizens.

:: 12. What would happen to benefits and taxes?

Benefits and taxes will become the responsibility of the new Scottish government. In its white paper on Scotland's independence it says the Scottish Parliament will ensure that the personal tax allowance and tax credits increase in line with inflation.

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Scotland Yes Vote Means Higher Roaming Charges

What Happens If Scotland Leaves The Union?

Updated: 2:00pm UK, Tuesday 09 September 2014

Supporters of both sides of the Scotland referendum debate are mounting a final push for votes before the ballot on September 18. Sky News looks at what will happen if Scotland votes Yes to exit the UK:

:: 1.  When would Scotland become independent?

The Scottish Government has set a date 18 months from now, March 24, 2016, for Scotland's independence day.

:: 2. What would happen immediately after a Yes vote?

The first step on the morning after the result comes in would involve the forming of teams from both the Yes and No camps to take part in behind-the-scenes negotiations. SNP leader Alex Salmond has already indicated his deputy Nicola Sturgeon would lead the talks for the Scottish nationalists. It is not yet known who would spearhead the Westminster team.

:: 3. What amendments would there be to the constitution?

The negotiating teams would devise a new constitution for Scotland and dissolve the 1707 Act Of Union.

:: 4. What would happen to the Queen?

The Yes campaign has said Her Majesty would stay as monarch so it would not be surprising if Mr Salmond seeks an audience with the Queen in the days and weeks after the vote.

:: 5. Would Scotland take part in the May 2015 General Election?

Scottish voters would still be able to take part, but their representatives would only potentially serve a 10-month term in office.

:: 6. What currency would Scotland use?

That is still being thrashed out and yet to be decided. The three main Westminster parties - the Conservatives, Labour and the Liberal Democrats - have ruled out a currency union, although Mr Salmond insists an independent Scotland would keep the pound.

:: 7. How much of the UK national debt would be transferred to Scotland?

This is not yet known, but it is likely to be worked out on a per capita share - based on population.

:: 8. What would happen to Scotland's standing in global affairs?

Scotland would have to negotiate its own entry into the European Union and Nato, and the population would have to decide whether they want to have the euro.

:: 9. What effect would independence have on Scotland's defence force?

The issue of defence is probably one of the most emotive - and uncertain. Scotland is likely to have its own independent defence force, in time, depending on practicalities and finances, for it has its North Sea oil and fishing industries to protect. Scottish nationalists are opposed to having the Trident nuclear deterrent and would want to see it removed from Faslane, on the west coast of Scotland, as soon as possible. However, Nato is fundamentally a nuclear alliance, and if Scotland struggles to become a member of Nato, it is likely to struggle to join the EU too, which would have a big impact on the Scottish economy. There is also the matter of service personnel - some of which will be currently serving in historic English regiments. Any division of troops north and south of the border would take years.

:: 10. What would independence mean in terms of travelling across the Scotland-England border?

An independent Scotland would control its own borders. The SNP would like to see an open border, but Home Secretary Theresa May has already warned she will not allow Scotland to be used as a back door for immigrants getting into England if Scotland adopts a looser immigration policy. So, we could see passport controls on the border between the two countries.

:: 11. Would Scottish citizens need new passports?

A lot depends on whether Scotland joins the EU. Scottish citizens would be entitled to a Scottish passport, but a UK passport would still be valid until it expires. British citizens who were habitual residents in Scotland would be automatically considered Scottish citizens.

:: 12. What would happen to benefits and taxes?

Benefits and taxes will become the responsibility of the new Scottish government. In its white paper on Scotland's independence it says the Scottish Parliament will ensure that the personal tax allowance and tax credits increase in line with inflation.

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Man Utd Warns Of Profit Fall From Euro Absence

Van Gaal's Reputation Suffers Humiliating Blow

Updated: 4:50pm UK, Wednesday 27 August 2014

By Paul Kelso, Sports Correspondent

São Paulo and Milton Keynes do not have a lot in common bar their capacity to confuse visitors.

For Louis Van Gaal, they must feel like they are on different planets, let alone continents, after his side lost its way in a town renowned for its roundabouts.

Seven weeks ago, he was in the Brazilian city preparing his Dutch side for a World Cup semi-final.

Today he is dissecting how a League Cup visit to England's most famous new town exposed so many old flaws in his side.

United have lost to lower league opposition in the League Cup before, but seldom has a result carried such symbolic weight.

The 4-0 defeat to League One MK Dons was a huge embarrassment for United and a blow to Van Gaal's aura.

It was their worst defeat in the competition in 19 years, the last time they featured in the second round.

Without a win in the league, United's understudies were exposed as lacking the cohesion, craft and, most troubling, the appetite to resist well motivated opposition.

Van Gaal's reputation is built on tactical vision and the ability to instil confidence. There was little sign of either in Buckinghamshire.

This is traditionally a competition in which United play a third-string side, mindful of European challenges ahead.

Despite no Champions or Europa League football to distract them, Van Gaal did the same and paid for it.

Worryingly for the club, it was the senior players who made up half the side that were most culpable.

Johnny Evans had a shocking evening while Anderson seemed to lack the stomach for the fight, if not the stomach.

David De Gea and Danny Welbeck did their best but were helpless as United subsided.

Van Gaal will have learned much from the capitulation and, whatever his private reaction, he certainly did not appear to be a man gripped by panic post-match.

He offered mitigating factors, including nine players out injured, though did not explain why he omitted many first-team players who were fit.

Not for the first time he also said re-building will take time, adding in a foray into the third person that United would have to buy into "Louis Van Gaal philosophy".

That's not all United will have to buy. On the day they broke the British transfer record to bring Angel Di Maria to Old Trafford, this defeat confirmed that the £60m outlay should not be the last.

Central midfield and defence are exposed in this United squad and there was little sign of suitable cover at Stadium MK.

Whether the club, in the shape of executive vice-chairman Ed Woodward, can deliver remains to be seen.

Woodward, architect of the club's phenomenal commercial success, is now responsible for rebuilding the football side of the business, until 18 months ago the exclusive domain of Sir Alex Ferguson, assisted by David Gill.

With both gone and little in the way of structure remaining, Woodward is effectively having to play director of football and chief executive.

The jury is out on whether he can juggle both roles effectively. What seems certain is that, without the lure of Champions League football, he will have to pay a premium to tempt others to follow Di Maria's path.

Meanwhile Van Gaal has to work with what he has, starting at Burnley on Saturday. Lose there and the Dutchman's cast-iron reputation will suffer another dent.

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