Trump hikes India tariffs to 50 per cent for fuelling Russian ‘war machine’ Economics President Donald Trump has imposed an additional 25 per cent tariff on India after the country’s government imported Russian Federation Oil. In an executive order signed on Wednesday, the White House said it would slap Indian imports with the fresh levy taking their overall rate to 50 per cent. The President warned on Tuesday he [...]
Shell: FTSE 100 giant takes profit beat amid weak oil prices Energy FTSE 100 juggernaut Shell posted a dramatic hit to earnings in the second quarter amid a volatile period for oil and gas prices. The London-listed oil major recorded $4.26bn (£3.21bn) marking a 32 per cent fall from the second quarter of 2024, where the firm pocketed $6.29bn. But Shell managed to scrape past an LSEG-compiled [...]
Ofgem gives green light to landmark electric grid upgrade Energy The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed [...]
Risk of gas crisis as Iran launches missiles at US military bases June 23, 2025 Iran has launched a barrage of missiles at US military bases in Qatar, in response to America’s bombing raids over the weekend. City analysts have been on high alert over the potential economic fallout, with a warning that gas prices could more than double if shipping through the Strait of Hormuz is blocked. Analysts fear [...]
Ithaca Energy: Profit tumbles at North Sea oil and gas firm as windfall tax bites August 22, 2024 North sea oil and gas firm Ithaca Energy saw its revenue and profit tumble after being hit by impairment charges, lower production and a dip in the oil and gas prices. The FTSE 250 constituent, which in the Spring announced plans to buy all of Italian competitor Eni’s North Sea assets for £754m, lowered its [...]