Ofgem looks at powers to block sales of energy customers September 29, 2019 Energy regulator Ofgem is considering plans which would allow it to block transactions between suppliers, as the industry worries that it is being left to pick up the pieces for failed companies. Rivals have picked the bones for left-over meat of some of more than a dozen energy suppliers that have gone bust in the [...]
Taking the shoe shine off: Clarks brought to employment tribunal by boss fired for misconduct September 29, 2019 The former chief executive of iconic British shoe brand Clarks has embarked on a legal battle against the company, claiming he was not given a chance to answer misconduct claims before being ousted. Mike Shearwood will allege at an employment tribunal, starting tomorrow in Bristol, that he was given a list of allegations at a [...]
Renewables soar on strong wind September 27, 2019 Generation of renewable electricity soared last quarter in Britain as new wind energy came online, bringing the country a small step closer to phasing out emissions. Electricity from renewables rose by nearly 10 per cent year-on-year, government data released today shows. Read more: IEA boss Fatih Birol: Oil demand could slow if economy stays weak [...]
Jacques and the bean hoax: French firm fined over veg cartel September 27, 2019 A French and a Dutch company have been fined nearly €32m (£28m) for a 13-year cartel which pushed up the price of green beans, peas and canned vegetables. The European Commission said it was charging France’s Cecab €18m, while Coroos, a Dutch company, will have to pay €13.6m for taking part in the cartel. Read [...]
Donald Trump: I did not offer to lift Iran sanctions September 27, 2019 US President Donald Trump has hit out at his Iranian counterpart Hassan Rouhani after he claimed the US had offered to lift sanctions in exchange for discussions. Trump tweeted: “Iran wanted me to lift the sanctions imposed on them in order to meet. I said, of course, NO!” Read more: Oil prices tumble as Iran [...]
Oil prices tumble as Iran President says US has offered to drop sanctions September 27, 2019 Iran’s President Hassan Rouhani has said that the US offered to lift all sanctions on his country to bring it to the negotiating table, sending oil prices down. The US currently bans most trade with the oil-rich nation. Read more: British tanker Stena Impero seized by Iran leaves port The price of Brent crude oil, [...]
Ex-communication: Pope warns Silicon Valley against ‘barbarous’ AI September 27, 2019 Monks worried about losing their jobs to robots got a new champion today as the pope urged tech giants to ensure they do not lead the world into a new “form of barbarism” when developing artificial intelligence. Francis called for “open and concrete” discussions on the future of technology. Read more: Two thirds of adults [...]
Former Estonian regulator: Danish authorities did not take Danske Bank concerns seriously September 27, 2019 The former head of Estonia’s financial regulator has hit out at Danish authorities for not taking concerns about Danske Bank seriously, ahead of what is thought to be history’s biggest ever money-laundering scandal. Raul Malmstein criticised his counterparts in Denmark for not spotting the extent of the problem. Authorities have since identified around €200bn (£178bn) [...]
Lenders throw lifeline to struggling Gulf Marine September 27, 2019 A struggling company which maintains oil rigs has convinced lenders to not cut its loans until the end of the year, management revealed this morning. Banks have agreed to roll over Gulf Marine Services’s existing $25m (£20m) capital facility and others which will keep it liquid and support growth until the end of 2019. Read [...]
IEA boss Fatih Birol: Oil demand could slow if economy stays weak September 27, 2019 The International Energy Agency could cut its forecasts for global oil demand again if economies around the world fail to pick up speed, its executive director warned today. IEA boss Fatih Birol said that a weaker global economy would reduce demand for oil. Read more: British tanker Stena Impero seized by Iran leaves port His [...]
