The government’s green policy will wreak havoc – and not just for Drax April 23, 2014 If the government wants to display a credible case for investment in renewables, then today was a definite step in the wrong direction. The Department of Energy and Climate Change has unveiled a list of eight renewable projects that will be eligible for contracts for difference, its new support framework for green energy generation. Coal-fired [...]
Here’s how government policy fuelled a booming black market in tobacco April 23, 2014 The illegal tobacco market continues to thrive in a country with one of the strictest tobacco control regimes in Europe, according to a report released by Japan Tobacco International (JTI). Ireland's illegal tobacco trade has grown to a point where non Irish duty paid cigarettes make up 28 per cent of the market. JTI's research [...]
Flybe is hoping to tempt in business travellers with new London City Airport routes April 23, 2014 FLYBE is returning to London with domestic routes aimed at business travellers, which it hopes will tempt time-poor passengers away from road and rail. The regional airline is launching five UK services from London City Airport in October, just over a year after it left Gatwick during its restructuring. Flights from the east London airport [...]
What you need to know before the US open April 23, 2014 US stocks futures suggest a slightly lower open today, following the recent rally the S&P 500 and Nasdaq have seen over the last few days. Mortgage applications in the US fell 3.3 per cent last week – the eighth drop in 11 weeks – with homeowners looking to refinance existing loans, and those looking for [...]
Why Deutsche Bank is going to war with NGOs on wheat April 23, 2014 Gamblers might think they're due a win after a string of losses, but most of us figure that taking a bet on an event doesn't affect its outcome. But some NGOs say the opposite, if your bet is a futures contract, and you're an investor gambling on the value of commodities, like food. The NGO [...]
The deficit is falling, but Plan A is long dead April 23, 2014 Public finance figures have just been released by the Office for National Statistics, showing the progress made on the Treasury’s deficit reduction programme. It’s good news, with borrowing hitting pretty much the level expected during this year’s budget, and coming in below last year’s forecast. But how does it look when compared to [...]
Wages are on the rise – but not in the City April 23, 2014 There’s been good news for workers recently, with pay finally looking like it’s growing at a faster rate than inflation. And today the Bank of England says that our wallets are set to fatten as the economic recovery takes hold: “With employment growth slowing in recent months, it was likely that productivity started [...]
Why breakfast staples could be about to get more expensive April 23, 2014 The surge in coffee futures documented over the last couple of weeks isn’t the only thing that could up the cost of breakfast. A Brazilian drought, which significantly damaged crops, is pushing up prices. Changes will most likely felt by global wholesalers over the next couple of months as harvests begin, says Thomas Pugh, a [...]
Regulator appoints financial heavyweights as competition advisers April 23, 2014 The Financial Conduct Authority (FCA) has appointed two new senior advisers, who will focus on competition and investment banking. David Saunders and Gunner Burkhart will bring years of financial and regulatory experience to the financial watchdog. Saunders is former chief executive of the Competition Commission, with a 35 year-long career in the Department for Business, [...]
Bank of England minutes reveal committee divided on economic slack April 23, 2014 The minutes of the Bank of England's most recent Monetary Policy Committee (MPC) meeting show no signs of tightening on the horizon. Members of the central bank's interest-rate setting committee voted unanimously to hold policy. With nominal wage growth picking up in recent months, the members determined that a "sustainable rise in real wages and [...]