Tullow Oil nightmare continues as shares fall for second week in a row December 16, 2019 Tullow Oil’s nightmare December continued today after shares dropped nearly 11 per cent, a week after the oil explorer lost over £1bn of its market value. Shares fell to 59.3p, having opened at 67.8p. Last week shares had staged a slow comeback, having initially fallen as low as 39.9p. Read more: Tullow Oil share price [...]
iSupply pays Ofgem £1.5m for overcharging customers December 16, 2019 Bournemouth-based renewable energy supplier iSupply will pay £1.5m to industry watchdog Ofgem for overcharging its customers. The firm, which has supplied domestic customers since 2012, overcharged around 4,400 customers who were on price-cap protected default tariffs. Read more: British Gas owner Centrica wins Ofgem appeal over energy price cap Between January and March 2019, iSupply [...]
Aramco hits $2 trillion as shares rise for fourth day in a row December 16, 2019 Shares in Saudi Aramco continued to rise for a fourth day, with the firm’s value tipping $2 trillion (£1.5 trillion) as shares hit 38 riyals (760p) today. The firm’s opening price was 37.5 riyals, but soon rose 1.6 per cent to reach 38 riyals, making the oil giant worth $2.03 trillion. Read more: Saudi Aramco [...]
Yü Group shares skyrocket on energy supply deal with Smartest December 16, 2019 Yü Group, the supplier of energy and utilities services to UK businesses, saw its share price rise by nearly 50 per cent today after it announced an energy supply arrangement with Smartest Energy. The hedging facility with Smartest will provide Yü with a credit line up to £13m, which will grow in line with the [...]
Private equity fundraising to fall in 2020 after record year, analysts predict December 16, 2019 Private equity fundraising next year may fall below the record levels seen in 2019 as large firms shift their focus on to capital deployment, analysts have predicted. Firms will also try to hold on to some of their top performing assets for longer in 2020, according to a note from private equity data firm Pitchbook. [...]
Gresham House Energy Storage adds two more sites to portfolio December 16, 2019 Gresham House Energy Storage Fund (GRID) today announced that it had bought two of the UK’s largest battery storage facilities as it continues to expand its portfolio. The two facilities, which have a combined capacity of 50 megawatts, were bought from VLC Energy for £29.2m. Read more: Gresham House reports jump in assets under management [...]
Number of customers switching energy supplier on track for record year December 16, 2019 The amount of customers who have switched energy supplier this year is on track to be the largest ever, according to new data from industry body Energy UK. So far in 2019 5.8m people have changed provider, matching the record number of customers who switched in the whole of 2018. Read more: Watchdog gives green [...]
Outlook 2020: Global economy December 16, 2019 | City Talk The global economy should perform better in 2020, underpinned by a US-China trade truce and lower interest rates, Schroders’ chief economist Keith Wade explains. We recently upgraded our 2020 global growth forecast to 2.6 per cent, due to prospects of a “phase one” US-China trade deal and lower US interest rates US interest rate cuts [...]
Premier Oil pushes back over claims firm is under pressure to sell assets December 15, 2019 UK exploratory firm Premier Oil today pushed back against claims that it is under pressure from its lenders to sell of its assets as the repayment date for $2.6bn (£1.9bn) worth of loans approaches. The Sunday Telegraph reported that a group of hedge funds, which own in total around 40 per cent of Premier’s loan [...]
UK stocks and sterling surge after Conservative election win shuts out Labour December 13, 2019 UK stocks surged today after the Conservatives secured a decisive majority in the General Election, boosted by rallying retailers, housebuilders and utility firms. The FTSE 100 index climbed over one per cent in morning trading, but was held back slightly by a strong sterling, while the FTSE 250, however, leapt as much as four per [...]