BP faces complaint over ‘misleading’ ad campaign December 4, 2019 Environmental law charity Clientearth has accused BP of “misleading” the public regarding its low-carbon credentials with its multimillion pound advertising campaign. Yesterday the non-profit group lodged an official complaint under international guidelines regarding the campaign, which is BP’s first in 10 years. Read more: Spanish oil giant Repsol pledges to cut emissions to zero by [...]
GBP/USD: Sterling hits seven-month high as traders hope for Tory election victory December 4, 2019 The pound climbed to a seven-month high today as traders grew hopeful that the Conservatives would gain a majority at the upcoming General Election, bringing some certainty to the Brexit process. Sterling topped $1.306 this morning before falling back slightly. The GBP/USD exchange rate was 0.4 per cent higher by 10.15am at $1.304, a level [...]
Chinese power firm Sdic delays London listing on market conditions fears December 4, 2019 Leading Chinese power generation firm Sdic Power today announced it would delay listing 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE) due to “market conditions.” In a statement, the company said it “believes this is a prudent decision and is in the best interests of its existing [...]
Petrol prices fall for the fourth consecutive month in November December 4, 2019 Petrol prices fell for the fourth month in a row in November, with the average price of a litre of unleaded now 3.3p less than at the beginning of August. The average price for unleaded fell 0.48p to 125.93p, with diesel showing a similar drop in price from 130.27p to 129.83p, according to the RAC’s [...]
Spanish oil giant Repsol pledges to cut emissions to zero by 2050 December 3, 2019 On Monday Spanish oil giant Repsol pledged that it would reduce net carbon emissions from its operations and products to zero, taking a €4.8bn (£4.1bn) value hit in the process. The company, which described the move as an industry first, announced the step on the first day of the UN climate change summit in Madrid. [...]
UK oil industry calls for urgent action on carbon capture development December 3, 2019 Investment in the energy sector needs to double from £20-£25bn a year today to £40-£40m if the UK is to meet its net zero challenge. Trade body Oil and Gas UK’s (OGUK) new Energy Transition Outlook report, published today, finds that development of carbon capture, use and storage technology (CCUS) is essential to meeting the [...]
Centamin rejects £1.47bn Endeavour buyout proposal December 3, 2019 The board of London-listed gold miner Centamin have unanimously rejected a buyout proposal worth £1.47bn from Canada’s Endeavour Mining Corporation. The proposal was for an exchange of 0.0846 of Endeavour’s shares for each Centamin share, or around 126.27p per share, a premium of 13 per cent. Read more: Centamin shares fall down mine shaft on [...]
Anglian Water remains on track after business transformation December 3, 2019 Anglian Water enjoyed steady revenue growth for the first half of 2019 after becoming the first UK water company to officially reset its business along environment and community protection lines. Read more: Water industry set to announce new boss ahead of nationalisation fight The figures Revenue at the water giant rose 2.8 per cent in [...]
Asian stocks slump after Trump slaps tariffs on Brazil and Argentina December 3, 2019 Asian stocks slipped today after US President Donald Trump slapped tariffs on imports from Brazil and Argentina to spike global trade tensions once again. Soft US manufacturing data compounded the problem for world markets and saw global stocks fall into the red as trading opened today. Read more: European stocks have worst day in two [...]
The woes of the IPO market show the problems with the stock exchange model December 3, 2019 A lot has changed since the early 1600s. For a start, we’ve stopped burning people at the stake for suggesting that the world is round. But some things have remained surprisingly similar over the past 400 years — like the stock exchange. Today, most exchanges remain similar in format to the very first stock market, [...]