E.on and RWE Renewables agree clean power deal November 12, 2019 E.on and RWE Renewables have agreed a two and a half year deal that will see E.on purchase the power output of 20 of its fellow German company’s British wind farms. The deal will help E.on provide renewable power to 3.3m UK homes. Earlier this year the energy giant announced that it was switching all [...]
Arrow underlying profits fall due to rise in costs November 12, 2019 Debt purchasing group Arrow Global saw underlying profits fall 5.4 per cent to £50.4m in the nine months ending in September, due to a 15.1 per cent rise in costs related to IFRS 16. Despite this, the group’s cashflow increased 14.7 per cent to £174.4m, compared to £152m in 2018. Profits before tax increased 65.6 [...]
Experian shares surge as revenue rises to $2.5bn November 12, 2019 Consumer credit giant Experian today posted revenue growth of seven per cent for the first half of 2019, with profit growing to $480m from $470m in 2018. Revenue grew to $2.5bn in the period, up from $2.36bn in 2018. Read more: Experian posts 2019 profit rise helped by global growth The information services group narrowed [...]
Just one in ten energy suppliers have made net-zero plans November 12, 2019 Only 10 per cent of the world’s biggest energy suppliers have made a dated commitment to reduce greenhouse gas emissions to net-zero. According to research published this morning, 13 out of the largest 132 coal, electricity, and oil and gas companies have set a date by which they have pledged to be carbon-neutral. Read more: [...]
Hero’s green energy arm relocates to London after $150m investment November 11, 2019 Hero Future Energies (HFE), the renewable energy subsidiary of India’s Hero MotoCorp, has today announced $150m (£116.5m) in investment to expand its project portfolio. The company also announced that they had relocated their global headquarters to London, citing its status as the leading centre for international finance and ambitions in renewables as the chief reasons. [...]
Opec unlikely to increase oil production cuts in December November 11, 2019 Opec and its oil-producing allies are unlikely to approve further cuts to production when they meet in December, according to Oman’s energy minister Mohammed bin Hamad al-Rumhy. Speaking at a press conference in Abu Dhabi this morning, al Rumhy said that he expected the producers’ current deal to limit supply would probably be extended: Read [...]
Novartis agrees Aspen generics acquisition for €400m November 11, 2019 Swiss drugmaker Novartis announced today that it will buy Aspen Pharmacare’s Japanese generics unit in a deal worth up to €400m (£343.8m). The deal, which will expand Novartis’ presence in the world’s third-largest drug market, will include a €300m upfront payment, with a deferred amount not higher than €100m to follow on completion of various [...]
Chevron latest US major to quit North Sea with $2bn asset sale November 11, 2019 Chevron has become the latest oil major to quit the North Sea, today announcing it had sold its entire oil and gas portfolio to Israeli-owned Ithaca Energy. The deal, which is worth $2bn, will see Ithaca add Chevron’s 10 producing fields to its existing portfolio, giving it a total of 18 field interests. Read more: [...]
Sirius Minerals seeks $600m in investment for flagship project November 11, 2019 Sirius Minerals have released revised plans for financing its North Yorkshire potash mine, the largest project of its type in the world. After placing the project under review in September, the London-listed group said that it was seeking $600m (£468.9m) in funding from investors for the project. Read more: Sirius boss buys shares after project [...]
Global payments platform Finablr posts 20 per cent earnings rise November 11, 2019 Global payments platform Finablr posted earnings of $182.3m (£142.2m) for the year to date this morning, up 22.1 per cent year on year. The company’s margin for the year to date was 15.6 per cent. Read more: Travelex-owner Finablr profit rise bolsters shares above float levels The group also announced a number of commercial partnerships [...]
