Ofgem plans to make suppliers pay back unused credit balances March 17, 2021 Ofgem is mulling proposals that would limit the amount of consumer credit energy suppliers can hold, which could see £1.4bn in excess payments returned to customers. Households that pay for their energy by direct debit typically pay a set amount to suppliers every month based on their average consumption. As energy use is normally lower [...]
UK sets out plans to be a ‘meaningful actor’ in new space race March 16, 2021 Boris Johnson has today set out plans to make the UK a “meaningful actor” in the new space race, with the capability to launch satellites from sovereign territory by 2022 a priority. Today’s Integrated Review of the UK’s foreign and defence policy said that space would become one of the key sites of international competition [...]
STV Group sets out digital growth plans after pandemic hits profit March 16, 2021 Scottish media firm STV Group saw its profit fall two-thirds in 2020 but said that it had achieved a record viewing performance amid the chaos of the pandemic. The firm, which runs the STV television channel north of the border, said that profit before tax had fallen from £19m to £6.7m in 2020. However, it [...]
World must invest $131 trillion in clean energy to hit Paris targets March 16, 2021 The world must invest $131 trillion (£94 trillion) in clean energy resources over the next 30 years in order to hit the climate targets set out in 2015’s Paris accords. A new report from the International Renewable Energy Agency (IRENA) found that investment must increase $33 trillion from current plans over the coming decades if [...]
Wood Group axes final dividend as oil service firm swings to loss March 16, 2021 Engineers Wood Group this morning said it would not pay a final dividend after falling to a £228m loss in 2020. The FTSE 250 firm, which provides services for the oil industry, was battered by the collapse in oil prices last spring. As a result, it swung from a profit of £73m in 2019 to [...]
Greggs off to better start after swinging to first ever loss in 2020 March 16, 2021 Greggs said that it had made a stronger-than-expected start to 2021 after seeing sales slip back last year as a result of the coronavirus pandemic. The impact of the pandemic meant the baked goods peddler swung to a £13m loss, a huge flip from the £108m profit it made the prior year. That beat the [...]
Wizz Air’s largest investor sells £400m stake in carrier March 16, 2021 Wizz Air’s largest shareholder has sold half of its stake in the Hungarian airline for £400m, it was announced this morning. Private equity firm Indigo Partners had owned 17.5 per cent of the FTSE 250 flier, but will now have a stake of about 8.5 per cent. The sale was carried out via an accelerated [...]
Antofagasta revenue ticks up on surging metal prices March 16, 2021 Mining giant Antofagasta saw its revenue tick up in 2020 as climbing copper and gold prices offset a small production decline. The Chile-based miner said that revenue hit $5.1bn in the last financial year, up 3.3 per cent on the prior period. Earnings grew 12.3 per cent to $2.7bn, it added, due to a cheaper [...]
WHO experts to review Astrazeneca vaccine today over blood clot fears March 16, 2021 Experts at the World Health Organization (WHO) will meet today to evaluate the safety of the Astrazeneca/Oxford University Covid-19 vaccine after 11 countries suspended the use of the jab. Several EU countries have halted administering the vaccine after reports from Denmark and Norway of possible serious side effects, including bleeding and blood clots. However, experts [...]
After year of pain, Virgin Atlantic exec looking forward to clearer skies March 15, 2021 It was the moment it felt like everyone had been waiting for. On 22 February, Boris Johnson told a cold and tired nation that international travel could be back on the cards from 17 May, prompting a mad rush of pale Brits booking their summer getaways despite pleas that it was too early to do [...]
