Energy giant E.On's UK earnings have dived after it was dragged down by the impact of the energy price cap.

The energy provider blamed "keen competition" and the increase in the level of the new default tariff price cap as UK earning slumped by €90 million (£77m).

Its customer solutions business in the UK "remained under considerable pressure", it said, after recording a €200 million (£173m) decline in UK sales over the three months to March 2019.

UK customer numbers declined by roughly 200,000 over the quarter, from 6.6 million at the end of 2018, chief financial officer Marc Spieker said.

E.On reported a "reduction in power and gas volumes" over the period in the UK.

READ MORE: Centrica warns over half-year hit as another 234,000 customers quit

The decline in volumes follows British Gas owner Centrica's announcement on Monday that warm weather would affect its results for the first half of the year.

Centrica said it saw a "challenging" start to 2019 after it lost another 234,000 UK household customer accounts over the first four months of the year.

Fund manager Neil Woodford has doubled his stake in retailer Card Factory despite the woes affecting the UK high street.

Woodford Investment Management has upped its holding in the chain to 10.6% from 5.02% and now holds 34.4 million shares in the company.

Card Factory, which has more than 970 stores, saw its pre-tax profits fall 8.3% to £66.6 million for the year to January 31.

Like-for-like sales were flat, but total revenues lifted 3.3% as it rolled out new shops.

Water group United Utilities has named Sir David Higgins as its new chairman to succeed John McAdam when he steps down on December 31.

Sir David, who was appointed as a non-executive director on Monday, was previously chief executive of Network Rail and The Olympic Delivery Authority and is currently also chairman of Gatwick Airport.