Morrisons cuts fuel prices as oil prices dip lower March 23, 2020 Supermarket Morrisons has announced a reduction in forecourt fuel prices. Effective from today, unleaded and diesel will be reduced by 12 and 8p a litre respectively. Morrisons said this will save the average customer £6 on unleaded and £4 on diesel. Although prices vary locally, Morrisons currently charges 116p a litre for unleaded and 118.5p [...]
Coronavirus cases surpass 305,000 globally March 22, 2020 305,046 people worldwide are now confirmed to be infected with coronavirus. Figures also show 13,028, or four per cent, of those infected have since died. Here in the UK, the death toll has risen to 281. However, 95,500, or 31 per cent have recovered from the virus. In the US, New York state has been [...]
Oil prices rally above $30 – but fail to hold onto gains March 20, 2020 Oil prices rallied today following a torrid week due to the outbreak of coronavirus and the fallout of a huge price war. The price of Brent Crude opened just over $30 a barrel this morning after falling to $26 yesterday. But it then slipped back almost two per cent to $27.92. World Texas Intermediate (WTI) [...]
Travis Perkins suspends dividend and delays Wickes de-merger March 20, 2020 Builders’ merchant Travis Perkins has suspended its dividend due to coronavirus uncertainty. The company also announced its intention to delay its long planned de-merger of DIY retailer Wickes. However, the group announced in its trading update a strong balance sheet with cash deposits of £185m. Boss Nick Roberts said: “Our highest priority is the health [...]
Meggitt to help make ventilators but won’t give earnings guidance this year March 19, 2020 Meggitt has heeded the government’s call to help make ventilator by leading a consortium of firms in the sector in this effort. But the defence and engineering firm announced it could not give earnings guidance for the rest of the year, due to coronavirus uncertainty. Meggitt is one of Britain’s biggest companies with expertise in [...]
Hurricane Energy and Capital Drilling boost profit despite coronavirus chaos March 19, 2020 Energy firms have shown some signs of riding out the coronavirus epidemic today as Hurricane Energy swung back into profit. Hurricane Energy, whose operations focus on oil drilling off the Shetland Isles, posted revenue of $170.3m (£147m) for 2019. It recorded profit after tax of $58.7m compared to a 2018 loss after tax of $60.9m. [...]
UK agrees measures to protect households’ energy supply March 19, 2020 The government and energy companies have agreed emergency measures to safeguard vulnerable households through the Covid-19 pandemic. From today, customers with pre-payment meters who cannot add credit will be able to contact their supplier to agree other options to keep their power on. These could include being sent pre-topped up cards, nominating a third party [...]
Call for government to support oil and gas industry amid triple challenge March 19, 2020 The UK’s oil and gas industry has called on the government to help the sector as it faces three separate challenges, that could see production plummet. Oil and Gas UK (OGUK) highlighted coronavirus, gas prices being halved and the sinking oil price as threats to the industry. Boss Deirdre Michie highlighted the need for key [...]
Micro Focus will not pay dividend this year due to coronavirus crisis March 18, 2020 IT firm Micro Focus will not pay a final year dividend in response to coronavirus. “While there has been no material impact on Micro Focus’ business to date, the ultimate impact on the global economy is unknown,” it said. The company has endured turmoil recently after its chairman stepped down in February due to a [...]
Oil prices sink below $28 on Covid-19 travel bans March 18, 2020 Oil prices have fallen below $28 a barrel as coronavirus continues to batter the world economy. Worldwide travel bans as a result of the worsening Covid-19 pandemic have driven oil prices down even further after a price war between Saudi Arabia and Russia. The price of Brent crude fell four per cent to $27.64 today. [...]
