Copper production slips at Anglo American amid Chilean drought October 22, 2019 Anglo American, one of the world’s largest miners, today lowered its full-year forecast for copper production amid the worst drought to hit Chile in sixty years. Output of the metal will drop by eight per cent in the third quarter of 2019 due to water shortages at the Los Bronces mine in Chile. Annual production [...]
Ofgem proposes new rules to stop energy firms going bust October 22, 2019 Ofgem has proposed further reforms for existing energy suppliers as part of ongoing efforts to reduce the risk of supplier failure and strengthen the safety net for consumers. The new rules would allow the regulator to request independent audits of suppliers’ customer service operations and financial status. Read more: Renewable energy set to grow by [...]
MPs demand parliament’s pension fund divests from fossil fuels October 22, 2019 Three hundred MPs are calling on the trustees of the £700m Parliamentary Pension Fund to end their investments in fossil fuel companies. The cross-party initiative has the support of the leaders of Labour, the Liberal Democrats and the SNP as well as senior Conservatives. It comes as the fund’s trustees are preparing to announce a [...]
Renewable energy set to grow by 50% by 2024 October 21, 2019 The world’s total renewable power capacity is forecast to grow by 50 per cent by 2024, according to the International Energy Agency’s (IEA) Renewables 2019 report, which was released today. Solar photovoltaics are predicted to account for more than half of the growth, with the 600GW increase to be driven mainly by commercial, industrial and [...]
BHP to switch Chilean copper operations to renewables by 2021 October 21, 2019 Mining giant BHP has announced today that it will supply all its Chilean copper operations through renewable energy from 2021. Daniel Malchuck, president of BHP Minerals Americas, said that it had signed four energy contracts, covering projects such as Escondida, the world’s biggest copper mine. Read more: Temasek makes 3bn offer to take control of [...]
GSK continues pharmaceuticals push with $1.1bn vaccines sale October 21, 2019 Glaxosmithkline (GSK) has today announced the sale of two travel vaccines worth up to $1.1bn (£846.9m) to Bavarian Nordic, continuing its push into the cancer drug market. The sales of Rabipur, an anti-rabies drug, and Encipur, which is used to prevent encephalitis, to the Denmark-based biotech firm, will include an upfront payment of €301m (£258.5m), [...]
Senior KPMG restructuring partners set for 25 per cent pay rise to stave-off break up September 15, 2019 Senior partners in KPMG’s restructuring division have received a 25 per cent pay rise as the accountancy giant tries to prevent a potential break-up, it was reported this weekend. The Big Four accountancy firm, which has been involved in high-profile business failures, including the collapse of outsourcer Carillion in January 2018, had been holding talks [...]
