E.ON warns that rising wholesale prices lie out of its and the government’s control December 2, 2013 Energy company E.ON has said this morning that it won't be raising its prices over the next 18 months, provided wholesale prices and network costs don't go up. It stressed, however, that prices and costs "may rise", and pointed out that neither it nor the government can control them. In a statement today, [...]
UK manufacturing grows at fastest rate in nearly three years December 2, 2013 The UK's manufacturing outlook is at its best in 33 months in November, according to purchasing managers' index (PMI) data compiled by Markit. Jeremy Cook, chief economist at World First, notes that industry has "managed to shrug off the impact of both a stronger pound and a resumption of economic worries in the Eurozone, our [...]
How today’s price cuts stack up with winter energy rises December 2, 2013 A bevy of figures has been announced this morning as the energy firms respond to the government's pledge to cut green levies, in a bid to ease the impact of energy bill hikes. The move comes as part of a package of measures announced over the weekend. It also follows the coalition denial that it had [...]
EDF pledges price freeze for 2014 December 2, 2013 EDF Energy was the first energy firm to announce a price freeze yesterday, with fellow Big Six firms British Gas, SSE and Npower announcing cuts this morning. The pledges come in response to the government's commitment to waive the cost of some green levies, which are currently paid for through energy bills. EDF said it doesn't [...]
Eurozone manufacturing growth is accelerating – but employment continues to fall December 2, 2013 Markit's purchasing managers' index (PMI) data for Eurozone manufacturing shows output, new orders and new exports expanding for the fifth consecutive month. The headline PMI number has risen to 51.6 in November, from a flash estimate of 51.5. Any number above 50 implies an expansion. But manufacturing employment continues to collapse. Chris Williamson, chief economist [...]
Sodexo board unanimously votes founder’s daughter as chairman December 2, 2013 Sophie Bellon is to succeed her father Pierre Bellon as chairman of catering company Sodexo by January 2016. Michel Landel will continue in his role as chief executive. A panel of four board members unanimously ratified the decision on 29 November. The board of directors said in a statement "Through her different functions, she has [...]
Morgan Stanley has identified five big changes that global economies need to make December 2, 2013 Morgan Stanley think that five tough transitions are now necessary for global economies to grow, or as they put it to "embark on a sounder, safer and more sustainable second half". US: From QE to credible forward guidance on interest rates. Japan: From deflation to (moderate) inflation. Europe: From financial fragmentation to a credible banking [...]
British Gas to cut average bill by £53 on back of government energy changes December 2, 2013 British Gas has confirmed that it'll cut its average dual fuel bill by £53 from 1 January. The energy supplier is reducing its household gas and electricity prices by an average of 3.2 per cent, equivalent to £41 off an average annual bill, and up to £53 with the £12 Warm Home Discount scheme rebate. [...]
SSE to pass on £50 savings to customers before end of financial year December 2, 2013 Energy company SSE has announced it will be passing on savings worth £50 to a typical dual fuel customer. The savings were made possible by the government's announcement of a consultation to reduce the future costs associated with the Energy Company Obligation. William Morris, managing director, retail, said: "We promised our customers that they would [...]
Senior acquires aerospace manufacturer from Privet Capital December 2, 2013 International manufacturing group Senior has acquired Thermal Engineering Holding from Privet Capital. Thermal is an aerospace components manufacturer located in Royston, Hertfordshire. Mark Rollins, Senior's group chief executive, said: Thermal represents an excellent addition to Senior's Aerospace Fluid Systems Division, providing additional capability to the Group in the areas of Hot Forming and Insulation. Thermal's [...]