Oil prices surge after Israel attacks Iran June 13, 2025 Oil prices spiked by more than nine per cent following Israeli strikes targeting Iran’s nuclear programme, in the most dramatic jump in more than three years. Meanwhile, the price of gold hit $3,427 – up 1.2 per cent during Asian trading hours. Israel launched strikes on Tehran early on Friday, rekindling fears of a full-scale [...]
Rolls-Royce: Shares in FTSE 100 firm jump on SMR news June 10, 2025 A division of Rolls-Royce has been selected to be the UK’s provider of small modular reactor (SMR) technology. Rolls-Royce SMR, which is co-owned by the FTSE 100 giant and Czech power company CEZ, has been successful in the Great British Nuclear (GBN) competition following a two-year process. Following the news, shares in Rolls-Royce rose on [...]
Energy services giant returned to profit before $1bn takeover June 9, 2025 A UK energy services giant returned to profit and created hundreds of jobs in the year before being acquired in a deal which valued it at more than $1bn (£737m). OEG Energy Group, which is headquartered in Aberdeen, has reported a pre-tax profit of $4.4m for 2024, having posted a pre-tax loss of $14.9m in [...]
Cut net zero and welfare spending instead of police budget, Tory MP blasts June 8, 2025 The shadow home secretary has slammed the Labour government amid mounting speculation police budgets are on the chopping block in Chancellor Rachel Reeves’ spending review. Chris Philp told the BBC’s Sunday with Laura Kuenssberg he believes police funding should be protected from cuts following concerns of a shrinking workforce. “I think I’m very concerned that [...]
Reeves mulls taxpayer-funded subsidy to cut manufacturers’ energy costs June 8, 2025 Rachel Reeves is looking at plans for a £1bn taxpayer-funded annual subsidy to bring down the energy costs for manufacturers after warnings the UK faced “rapid deindustrialisation” without intervention. The Chancellor is facing mounting pressure to lower energy costs for industry with fears high prices are holding back investment opportunities and stifling the country’s competitiveness. [...]
End net zero levies raising energy bills, CBI boss to demand June 5, 2025 Net zero costs which push up energy prices and “anchor” businesses’ ambitions to grow must end, the boss of the Confederation of British Industry (CBI) will tell government officials at an event in London on Thursday evening. Rain Newton-Smith, the chief executive of the Confederation of British Industry (CBI), is set to urge the Treasury [...]
Up to 4,000 livelihoods at risk as ABF prepares to pull plug on bioethanol plant May 27, 2025 As many as 4,000 livelihoods are at risk after the owner of Britain’s largest bioethanol plant has warned it could shut within days, citing UK-US tariff policy. ABF, which owns the Vivergo Fuels plant in Yorkshire, has written to farmers warning it planned to suspend purchases of wheat used in the production process unless the [...]
North Sea windfall tax causing ‘irreversible damage’ says oil giant May 27, 2025 The boss of Enquest has slammed the windfall tax on oil and gas firms as doing “irreversible damage” to the industry and “driving job losses across the sector”. Amjad Bseisu, Enquest’s chief executive, called for the North Sea tax to be scrapped in an operations update on Tuesday after claiming it makes the UK a [...]
Energy bills to fall as Ofgem cuts UK price cap by seven per cent May 23, 2025 UK households are set to see a modest drop in their energy bills this summer, after regulator Ofgem revealed a seven per cent cut to its quarterly price cap – the first reduction in a year. The announcement will bring the average annual bill for a typical household in the UK down from £1,849 to [...]
SSE boss: Zonal pricing would be a ‘huge mistake’ May 21, 2025 Introducing a zonal pricing scheme to the UK’s electricity market would be a “huge mistake,” the chief executive of SSE has said. Writing in City AM, the Scottish energy firm’s outgoing boss Alistair Phillips-Davies argued such a move would create a “postcode lottery” where some households would pay £200 to £300 more “simply because of [...]