Q&A: the Hinkley Point deal in full October 21, 2013 Q Why do we need more nuclear power? A Britain’s energy security is at risk. Network operator National Grid recently warned that the country is at its highest risk of blackouts this winter in five years. Nuclear energy is one (albeit costly) way of diversifying and reducing our reliance on gas imports. Britain also needs [...]
Co-op loses control of its bank in new rescue deal October 21, 2013 THE CO-OP will lose control of its banking unit in a new deal set to be unveiled in the coming days, after investors pushed the troubled group for more of the bank’s ownership. The bank has to plug a £1.5bn capital hole, with £1bn coming from the group and £500m from hitting investors. As part [...]
Npower defends plan to increase bills by 10.4pc October 21, 2013 NPOWER yesterday became the third of the big six suppliers to raise its energy prices, as it unveiled a 10.4 per cent increase to the average gas and electricity bill. The price hike will take effect from 1 December and equates to an extra £137 per year for dual fuel customers. The energy firm’s increase [...]
Netflix surprises market with surge in subscriber numbers October 21, 2013 FILM and TV streaming service Netflix saw profits rocket in the third quarter as subscriber numbers increased more quickly than expected. Another 2.7m customers signed up globally in the three-month period pushing revenues up to $1.1bn (£681m), up 22 per cent on the $905m brought in during the same period of 2012. The rising revenues pushed [...]
Oil prices fall on expanding US stockpiles October 21, 2013 US CRUDE oil prices yesterday tumbled below the psychologically important $100 (£61.95) per barrel mark for the first time since July, as stockpiles built up more rapidly than expected. Seasonal refinery maintenance and shifting pipeline flows around the key Cushing, Oklahoma, oil hub have helped reverse a months-long decline in stockpiles, dramatically shifting the oil [...]
States blocked from tweaking EU’s stress tests October 21, 2013 ALL MAJOR European banks must be tested in exactly the same way if the stress tests are to be worthwhile, the European Banking Authority (EBA) said yesterday. The agency warned that using different rules in different countries will make it impossible to compare the strength of banks across the EU, and undermine faith in the [...]
Treasury denies breakup of RBS is imminent after shares in the state-backed bank plunge October 21, 2013 TREASURY sources yesterday denied the government was about to break up RBS, after reports over the weekend that the future of the bank had been decided. Bankers are looking into setting up a so-called bad bank with RBS’s worst assets, in a bid to free up the institution to lend more. The result is not due [...]
Infinis to lure investors with £55m payout October 21, 2013 INFINIS Energy, the UK’s biggest independent wind power generator, yesterday unveiled plans to pay a healthy £55m maiden dividend to investors as part of its stock market flotation plans. The business, which is owned by Guy Hands’ private equity firm Terra Firma, is floating a third of the business on the London market next month [...]
Public offered a ride on theme park flotation October 21, 2013 ALTON Towers owner Merlin Entertainments yesterday said members of the public will have the chance to become shareholders in the company when it floats in London next month, with a minimum investment of just £1,000. The business, which also owns Madame Tussauds and Legoland, plans to raise £200m in an initial public offering of shares. [...]
Bottom Line: Perks help to sweeten investment case October 21, 2013 ROLLERCOASTER fanatics listen up. Buy a stake in Merlin’s planned flotation, and you could be riding Nemesis on the cheap by qualifying for 30 per cent off an annual theme park season ticket. But is the discount worth it? A standard adult season ticket – which shareholders would be entitled to two of – costs [...]
