UK oil industry calls for urgent action on carbon capture development December 3, 2019 Investment in the energy sector needs to double from £20-£25bn a year today to £40-£40m if the UK is to meet its net zero challenge. Trade body Oil and Gas UK’s (OGUK) new Energy Transition Outlook report, published today, finds that development of carbon capture, use and storage technology (CCUS) is essential to meeting the [...]
English pupils improve at maths in latest Pisa tests December 3, 2019 Pupils in England have shown a considerable improvement in mathematics, according to the latest Pisa test data released today. A new report from the Programme for International Student Assessment (Pisa) shows that 15-year-old pupils in England performed significantly better in maths in 2018 than in 2015. However, it also found that 66 per cent of [...]
Cineworld suffers from weak box office as it lowers 2019 expectations December 3, 2019 Cinema group Cineworld blamed a weaker box office as the company said it expected trading for the full year to be below expectations. Shares in Cineworld rose nearly two per cent in the morning’s trading. Read more: Cineworld sets hopes on The Lion King as first half revenue drops The figures Total group revenue fell [...]
Centamin rejects £1.47bn Endeavour buyout proposal December 3, 2019 The board of London-listed gold miner Centamin have unanimously rejected a buyout proposal worth £1.47bn from Canada’s Endeavour Mining Corporation. The proposal was for an exchange of 0.0846 of Endeavour’s shares for each Centamin share, or around 126.27p per share, a premium of 13 per cent. Read more: Centamin shares fall down mine shaft on [...]
Anglian Water remains on track after business transformation December 3, 2019 Anglian Water enjoyed steady revenue growth for the first half of 2019 after becoming the first UK water company to officially reset its business along environment and community protection lines. Read more: Water industry set to announce new boss ahead of nationalisation fight The figures Revenue at the water giant rose 2.8 per cent in [...]
Scottish Power tops list of slowest energy companies for call waiting times December 3, 2019 A fifth of UK energy suppliers keep customers on hold for an average of more than 10 minutes, according to new data from consumer champion Which?. The worst provider was Scottish Power, which left customers waiting 21 minutes 24 seconds on average, 20 minutes slower than the quickest company, So Energy, which answered calls in [...]
UN climate change summit opens in Madrid amid last chance warnings December 2, 2019 The UN Climate Change conference is underway in Madrid, as governments come together to take the next steps in the climate change process. Against a backdrop of a year of especially severe weather, the two weeks of talks offer delegates the chance to resolve outstanding issues from the Paris accord, such as rules for carbon [...]
Institutional tranche of Saudi Aramco IPO twice oversubscribed December 2, 2019 The institutional tranche of Saudi Aramco’s upcoming initial public offering (IPO) is more than twice oversubscribed, according to the sale’s managers. Investors have put in 144.1bn riyals (£29.7bn) worth of bids since 17 November, around 4.6bn shares. Read more: Saudi Aramco IPO on track as retail tranche oversubscribed The institutional tranche closes at the end [...]
Saudi Arabia pushing Opec for deeper oil production cuts ahead of Aramco IPO December 2, 2019 Saudi Arabia is seeking to push Opec into deepening oil cuts until at least June 2020 as it prepares for December’s listing of Saudi Aramco. Sources told Reuters that Opec and its allies, including Russia, were currently discussing a deal to add 400,000 barrels per day to existing production cuts of 1.2m barrels per day. [...]
Ocado offers £500m in bonds after Aeon warehouse deal December 2, 2019 Online grocer Ocado today announced a £500m bond issue as it seeks cash to fund tech arm Ocado Solutions’ commitments. The company said that the guaranteed senior unsecured convertible bonds, due 2025, are expected to carry a coupon of between 0.75 per cent and 1.25 per cent a year. Read more: Ocado shares soar on [...]
