RMT pledges to fight Tory plans for ‘minimum service’ during strikes December 17, 2019 The boss of the RMT transport union has hit out at government plans to pass legislation to ensure commuters to can get to work during strikes. Responding to the proposed legislation, general secretary Mick Cash said: “It hasn’t taken long for the true colours of this new Tory government to emerge. Read more: South Western [...]
Purdue Pharma made payments of $10bn to Sackler family December 17, 2019 The family that owns controversial opioid manufacturer Purdue Pharma has transferred more than $10bn (£7.6bn) from the company to its personal trusts and holdings in the last decade. An audit carried out by consultants Alix Partners found that the billionaire Sackler family were given $10.7bn in payouts by the firm, which makes Oxycontin. Read more: [...]
National Grid reveals contractors for London rewiring project December 16, 2019 National Grid have named its partners for the second phase of its ongoing London Power Tunnels (LPT) project, in a contract worth £400m. The UK power provider has done a deal with a joint venture between Murphy Group and Bavarian construction firm Hochtief, with work scheduled to begin in March. Read more: National Grid pays [...]
Tullow Oil nightmare continues as shares fall for second week in a row December 16, 2019 Tullow Oil’s nightmare December continued today after shares dropped nearly 11 per cent, a week after the oil explorer lost over £1bn of its market value. Shares fell to 59.3p, having opened at 67.8p. Last week shares had staged a slow comeback, having initially fallen as low as 39.9p. Read more: Tullow Oil share price [...]
iSupply pays Ofgem £1.5m for overcharging customers December 16, 2019 Bournemouth-based renewable energy supplier iSupply will pay £1.5m to industry watchdog Ofgem for overcharging its customers. The firm, which has supplied domestic customers since 2012, overcharged around 4,400 customers who were on price-cap protected default tariffs. Read more: British Gas owner Centrica wins Ofgem appeal over energy price cap Between January and March 2019, iSupply [...]
Aramco hits $2 trillion as shares rise for fourth day in a row December 16, 2019 Shares in Saudi Aramco continued to rise for a fourth day, with the firm’s value tipping $2 trillion (£1.5 trillion) as shares hit 38 riyals (760p) today. The firm’s opening price was 37.5 riyals, but soon rose 1.6 per cent to reach 38 riyals, making the oil giant worth $2.03 trillion. Read more: Saudi Aramco [...]
Yü Group shares skyrocket on energy supply deal with Smartest December 16, 2019 Yü Group, the supplier of energy and utilities services to UK businesses, saw its share price rise by nearly 50 per cent today after it announced an energy supply arrangement with Smartest Energy. The hedging facility with Smartest will provide Yü with a credit line up to £13m, which will grow in line with the [...]
Gresham House Energy Storage adds two more sites to portfolio December 16, 2019 Gresham House Energy Storage Fund (GRID) today announced that it had bought two of the UK’s largest battery storage facilities as it continues to expand its portfolio. The two facilities, which have a combined capacity of 50 megawatts, were bought from VLC Energy for £29.2m. Read more: Gresham House reports jump in assets under management [...]
Number of customers switching energy supplier on track for record year December 16, 2019 The amount of customers who have switched energy supplier this year is on track to be the largest ever, according to new data from industry body Energy UK. So far in 2019 5.8m people have changed provider, matching the record number of customers who switched in the whole of 2018. Read more: Watchdog gives green [...]
Premier Oil pushes back over claims firm is under pressure to sell assets December 15, 2019 UK exploratory firm Premier Oil today pushed back against claims that it is under pressure from its lenders to sell of its assets as the repayment date for $2.6bn (£1.9bn) worth of loans approaches. The Sunday Telegraph reported that a group of hedge funds, which own in total around 40 per cent of Premier’s loan [...]
