Shell Enterprises sells off Texan Permian business to ConocoPhillips for $9.5bn September 21, 2021 Shell Enterprises, a subsidiary of energy giant Royal Dutch Shell, is set to sell off its Texas-based Permian business to ConocoPhillips for some $9.5bn in cash. The deal, however, which transfers all of Shell’s interest in the Permian to oil and gas heavyweight ConocoPhillips, is still subject to regulatory approvals. “After reviewing multiple strategies and [...]
Energy crisis: Ofgem and Kwasi Kwarteng resist pressure and agree price cap is not going anywhere September 21, 2021 Kwasi Kwarteng and Ofgem chief executive Jonathan Brearley have confirmed they had taken a unified position over the price ceiling continuing. The energy regulator and the Business Secretary agreed the energy price cap must “remain in place” during crunch talks to find a solution to record gas costs. Kwarteng held a crisis meeting with the [...]
Lime: The e-scooter firm looking to make the car obsolete September 21, 2021 London has seen many changes over the last 18 months. Some of these may not last long, now that life is heading back to normality, but others feel like they could be set to stay. Perhaps the most obvious of these have been the changes made to the very fabric of the capital, which has [...]
National Express exploring takeover of rival Stagecoach September 21, 2021 National Express has confirmed reports that it is looking into a possible takeover of its fellow transport heavyweight Stagecoach. The British bus operator has started discussions around buying out its Scottish rival, the UK’s largest bus operator. Stagecoach shares rose by almost 90 per cent over the last year, reaching a market value of around [...]
London taxi giant Addison Lee goes fully electric by pumping £160m in 4,000 cars September 21, 2021 London’s largest taxi company, Addison Lee, has pledged it will operate only electric vehicles from 2023. The London firm said it is investing £160m to shift its 4,000-strong fleet to electric. This will involve putting 200 Volkswagen ID.4 vehicles on the capital’s roads every month from November. The commitment is the largest single order of [...]
Joe Biden lifts US travel ban for fully vaccinated UK and EU passengers September 20, 2021 Joe Biden’s White House has confirmed that fully vaccinated UK and EU passengers will be able to travel to the US from November, sending aviation stocks soaring this afternoon. The news sent shares in IAG, owner of British Airways, up by 11 per cent at the close today, while Air France, KLM and Lufthansa are [...]
Brits face choice between heating and eating, warns personal finance guru Martin Lewis September 20, 2021 Thousands of Brits will be forced to make the devastating choice between heating and eating as energy bills rise, Martin Lewis has warned. The consumer and personal finance champion called the ongoing energy crisis “catastrophic” and said intervention is needed to help consumers. Soaring wholesale gas prices are putting an upward pressure on energy bills. [...]
Energy sector braces itself for wave of supplier bankruptcies as crisis grows September 20, 2021 The Government wants energy firms to “stay afloat organically”, as the growing energy crisis led to company bosses saying the outlook was “looking bleak”. Four firms have already folded and there are fears that more could follow. With wholesale prices for gas surging by 250 per cent since January, with a 70 per cent rise [...]
British Gas takes on 350,000 customers from collapsed People’s Energy September 20, 2021 British Gas has agreed to take on an extra 350,000 domestic customers from collapsed energy firm People’s Energy, regulator Ofgem has confirmed. The company went bust last week, leading to Ofgem finding another supplier to take on the firm’s customers. Outstanding credit balances including money owed to both existing and former domestic customers of People’s [...]
Perfect energy storm: Do the gas price hikes mean your bills will rise? September 20, 2021 Government ministers and energy companies are in crisis talks today, as the price of gas has soared in recent weeks, putting several energy suppliers out of business and forcing some factories to stop production altogether. The price of wholesale gas has surged by 250 per cent since the beginning of the year and added 70 [...]