UK set to face ‘sluggish’ growth in the face of sticky inflation and Bank of England interest rate hikes
European gas companies resilient amid lowest prices in a decade October 28, 2019 European gas producers are well placed to withstand the downturn in prices for at least a year, according to a new report from Standard & Poor Global Ratings (S&P). The analysis comes as a welcome boost to the industry, which saw prices fall to their lowest in a decade in early September. Read more: Equinor [...]
EDF will take on bust supplier Toto Energy’s customers, Ofgem confirms October 28, 2019 EDF Energy will take on failed supplier Toto Energy’s 134,000 customers, Ofgem has announced. For those of Toto’s customers who were acquired in August when Solarplicity ceased to trade, it is the second such change in a number of months. Read more: Toto Energy collapses with 134,000 customers affected However, customers should expect to see [...]
Cairn Energy share price drops as it ditches Mexico oil well October 28, 2019 Shares in Cairn Energy slumped more than 10 per cent this morning after the oil company revealed that it was abandoning a well in Mexico. The FTSE 250 company is on track for its worst day since the financial crisis. At one point, shares fell to a low of £1.57, down nearly 18 per cent [...]
LVMH confirms Tiffany approach in largest bid in company’s history October 28, 2019 The French multinational behind brands such as Louis Vuitton, Dior and Moët & Chandon today confirmed it had approached Tiffany & Co about a possible takeover of the U.S. jeweller. In a statement, LVMH, which is the world’s largest luxury goods group, said: “In light of recent market rumours, LVMH Group confirms it has held [...]
MPs to vote on Boris Johnson’s 12 December general election bid October 28, 2019 MPs will vote later today on Boris Johnson’s proposed general election date of 12 December. In order for the motion to pass, two-thirds of MPs (434) need to vote in favour of it under the Fixed-term Parliaments Act (FTPA). Read more: When will we have a UK general election? Jeremy Corbyn said that Labour would [...]
Facebook announces launch of Facebook News October 25, 2019 Facebook has announced the launch of Facebook News, a new platform that will highlight news based on how relevant it is to individual users. In a blog post, Facebook’s vice president for global news partnerships said “Facebook News was built to bring people closer to the stories that affect their lives. We’ll continue to learn, [...]
Treasury halts production of 50p Brexit coins October 25, 2019 The Treasury has stopped production of thousands of commemorative Brexit coins over continuing doubts as to when the UK will leave the EU. A Treasury spokesman said: “We have paused production of the Brexit coin, and will take a final decision in due course.” Read more: Brussels delays Brexit extension decision The new 50p pieces [...]
Turning back the wheel: London Eye reverses to mark end of British Summer Time October 25, 2019 A group of competition winners experienced a first this morning, as the London Eye rotated in the opposite direction for an hour to mark the end of British Summer Time. Ahead of the rotation, a light show transformed the attraction, which sits on the Southbank, into a giant clock, lighting up the London morning. Read [...]
Boris Johnson tells Corbyn: ‘Man up and back my election’ October 25, 2019 Boris Johnson has told Labour leader Jeremy Corbyn to “man up” and back a general election as the EU delayed its decision on the length of the UK’s Brexit extension. The Prime Minister refused to rule out leaving without a deal on the 31st October, contradicting earlier comments by Chancellor of the Exchequer Sajid Javid. [...]
Offshore windfall? Industry could be worth $1 trillion by 2040 October 25, 2019 Offshore wind could become a $1 trillion (£779bn) industry by 2040, according to a new report from the International Energy Agency (IEA). Although electricity generated through offshore wind farms currently accounts for 0.3 per cent of the world’s power, a combination of falling costs and supportive government policies will see capacity increase 15-fold over the [...]