Decarbonisation of shipping to cost over $1 trillion January 20, 2020 The shipping industry must spend at least $1 trillion (£0.8 trillion) on new fuel technology if it is to meet UN emissions targets by 2050. According to a new study by experts from UCL and the Energy Transitions Commission, the minimum average that would need to be spent every year from 2030 is $50bn. Global [...]
Octopus to take over Engie’s 70,000 UK households January 20, 2020 Challenger energy supplier Octopus has agreed to take over Engie’s UK household energy business, after the French firm decided to leave the domestic market. The deal, which will see Octopus supply Engie’s 70,000 UK customers, is the quickly-growing business’ sixth acquisition in two years. Octopus, which currently has 1.4m customers – or five per cent [...]
Anglo American makes £405m bid for Sirius Minerals January 20, 2020 Anglo American have agreed a £405m rescue deal with the board of embattled Sirius Minerals, it was announced this morning. Under the agreement, Sirius shareholders will receive 5.50p for each share, a 34 per cent premium on the British mining firm’s 4.10p closing price on 7 January. The deal is a lifeline for Sirius, which [...]
Markets set for further highs as sentiment remains strong January 20, 2020 Global markets started the week pushing all-time highs as the ramifications of the US-China trade deal continue to be felt. After last week saw the S&P 500, Dow, Nasdaq and the Euro Stoxx 600 all hit new records, the Nikkei nudged up 0.2 per cent this morning to sit roughly seven per cent below all [...]
Microsoft pledges to go ‘carbon negative’ by 2030 January 16, 2020 Microsoft will go “carbon negative” by 2030, senior executives announced today, as the tech giant looks to take responsibility for its emissions footprint. The commitment means mean that Microsoft will cuts its emissions by half, whilst simultaneously removing more carbon from the atmosphere than it emits anually, resulting in a net emissions total of less [...]
PPG offers dim outlook for 2020 amid manufacturing decline January 16, 2020 PPG, the world’s leading coatings company, said that weaker industrial demand from the US and Europe would damage sales in 2020 as it announced its results for 2019. The figures: The Fortune 500 company said that sales for the full year hit $15.1bn (£11.6bn), a fall of 1.5 per cent on the previous year. Fourth [...]
German government agrees €40bn deal for coal power exit January 16, 2020 The German government has agreed to a €40bn (£34.2bn) deal to help workers and companies as part of plans to end the use of brown coal power plants by 2038. The deal, which was announced by economic minister Peter Altmaier today, is part of a package of measures which will enable Europe’s largest economy to [...]
Louis Vuitton to make jewellery from the world’s second biggest diamond January 16, 2020 Louis Vuitton has entered into a partnership with Canadian corporation Lucara to make jewellery from the second largest rough diamond ever mined, in a sign of its growing ambitions in the high-end jewellery market. The Sewelô diamond, which was found in Botswana in April 2019, clocks in at 1,758 carats, second only to the legendary [...]
Lekoil fraud scandal firm says it will help investigation January 16, 2020 The consultancy which is alleged to have brokered Lekoil’s loan deal with a Qatari wealth fund has issued a statement announcing its own investigation into the matter. Seawave Invest, which West African oil explorer said it had paid $600,000 for introducing it to the individuals “purporting to be the [representatives] of the Qatar Investment Authority (QIA)” [...]
Australian miner Resolute sells Queensland pit for £159m January 15, 2020 Australian miner Resolute has sold its Ravenswood gold pit in Queensland to a consortium of buyers for AU$300 (£159m). The dual listed firm said the consortium, which is made up of EMR Capital and Golden Energy and Resources, was committed to the development of the mine, which has produced nearly 2m ounces of gold since [...]
