Brent crude oil price dips after eyeing $50 a barrel and West Texas Intermediate crude also slides November 22, 2016 The benchmark oil price pared back earlier gains today, after edging close to $50 a barrel. Brent crude rose as high as $49.96 before losing around one per cent, or 51 cents, on the Monday’s close to reach $48.39 a barrel during early evening trading in London. West Texas Intermediate crude, the US benchmark, slid 1.7 [...]
Uranium prices set to “explode” in 2018, according to Berkeley Energia executive November 22, 2016 Uranium prices are set to "explode" in two years as demand from Western utilities and China will give the heavy metal a major uplift, according to a London-listed mining executive. Spot uranium prices, currently trading at around $18.50 a pound, could be set to almost triple in 2018, Paul Atherley, managing director of Spain-based uranium miner [...]
Steel group Severfield sets its sights on 1 Undershaft and Google’s new HQ after posting bumper first-half profits November 22, 2016 Steelmaker Severfield has posted bumper first-half profits for 2016 and set its sights on helping construct City skyscraper 1 Undershaft and the new Google headquarters in the capital. Shares in the structural steel group were up 12 per cent today to 69.79p after Severfield posted a 69 per cent rise in underlying profit before tax, at £8.1m, in the [...]
Defence and aerospace group Cobham appoints new chairman in end-of-year executive shake-up November 22, 2016 Troubled defence and aerospace group Cobham has appointed a new chairman after the group's current chair, John Devaney, announced he will step down from the firm's board on 31 December. Michael Wareing, who is a senior independent director at Cobham and a member of its remuneration committee, will take over as chairman from 1 January. His [...]
Fuel duty should be cut, not frozen, in the Autumn Statement, urges campaign group FairFuelUK November 22, 2016 An expected fuel duty freeze in tomorrow's Autumn Statement should be switched to a 3p-per-litre cut that would add £850m to the UK economy next year, campaign group FairFuelUK has urged. Chancellor Philip Hammond is thought to be scrapping a planned 2p-per-litre rise in fuel duty, due to come into force in April, and will [...]
Transatlantic divide in oil and gas companies leaves European firms better prepared to weather low-carbon economy than those from US November 22, 2016 European oil and gas majors are significantly more prepared for a low-carbon future than their US counterparts, according to CDP. A shift towards gas, investments in alternative energy sources and wider climate governance has created a transatlantic divide, a report from the not-for-profit group, which works with corporations to disclose their carbon emissions, found. In an [...]
Oil prices rally more than four per cent as Opec deal optimism and weaker dollar buoy the market November 21, 2016 Oil prices rallied to their highest levels in three weeks today as a weaker dollar and hopes that Opec will seal an output deal next Wednesday boosted the market. Global benchmark Brent crude was edging closer to $50, trading up 4.7 per cent, or $2.20, to $49.06 yesterday evening. US sweet crude was up 4.6 [...]
Babcock International finalises partnership with Omani port group that is set to generate £200m in new business for UK November 21, 2016 Defence engineering group Babcock International has finalised a multi-million pound joint venture with Oman Drydock Company that is expected to generate £200m in new business for the UK. The FTSE 100-listed firm will provide local and international navies with engineering support services at Duqm Port in Oman, including the UK's new Elizabeth Class aircraft carriers. Babcock [...]
Plutus Powergen share price powered up by deal with Big Six energy firm for renewable fuel and gas project funding November 21, 2016 Shares in Aim-listed utility Plutus PowerGen (PPG) lit up today after it announced a funding partnership with an unnamed Big Six energy group. The major energy supplier has offered to fund up to 20 per cent of any of PPG's 20MW renewable fuel or gas powered energy projects going forward, PPG announced today. Its shares shot up [...]
Sterling dive strengthens defence manufacturer Chemring’s order book to the tune of £100m November 21, 2016 The fall in the value of sterling has bolstered defence equipment manufacturer Chemring's order book to the tune of £103m. Chemring's order book stood at £593m on 31 October thanks to the pound weakening against the US dollar, the company said in a post-close statement today, up from £569.6m last year. On a constant currency basis, Chemring's [...]
