Renewable subsidies change – but is the government shuffling windmills on the Titanic? December 4, 2013 Ministers are set to announce a shakeup of how renewable energy is subsidised. Public funding for onshore wind and solar is to be cut while funding for on shore wind will be increased. Chief secretary to the treasury, Danny Alexander said the change was "a rebalancing" but overall government spending on renewable energy will remain [...]
3 reasons why a free trade deal between the EU and China is a match made in heaven December 3, 2013 David Cameron's recent call for a free trade deal between the European Union (EU) and China was met with icy scepticism from the EU. David Cameron criticised those who wanted to erect a "bamboo curtain" between China and the EU. However an EU spokesman said in a press conference that any such deal would be [...]
Zombie firms on the way out as creative destruction powers UK recovery December 3, 2013 So Joseph Schumpeter was right after all, creative destruction is a benefit not a cost to a thriving economy, so says a research note from London-based consultancy Capital Economics. Capital Economics finds that productivity growth in the UK is being driven largely by firms entering and exiting industries. Instead of the rise of zombie firms [...]
Government scraps plans for toll pricing as taxpayers pick up tab – but is there another road ahead? December 3, 2013 The government has scrapped plans for the UK's first toll road in over 10 years. The bill to pay for improvements to the A14 will now be paid not by motorists but by the general taxpayer. It is now unlikely the government will feel emboldened to undertake more radical solutions to tackle the problems on [...]
Pearson lands largest private education provider in Brazil December 3, 2013 British publishing company Pearson has agreed to acquire Grupo Multi, the largest provider of private language schools in Brazil. Pearson will acquire the group for £440m in cash and the assumption of £65m of debt. The acquisition will significantly expand the group's presence in emerging markets. Group Multi serves over 800,000 students across 2,600 franchised [...]
Greene King serves up healthy profits as sales rise December 3, 2013 Pub retailer Greene King has posted solid profits and rising sales for the six months to 13 October. The company recorded a rise in pre-tax profit of 5.7 per cent to £85.6m while total revenue rose 5.2 per cent to £595.4m. Strong growth in key areas such as food helped drive like-for-like retail sales up 3.5 [...]
Npower apologises to customers over billing process December 3, 2013 Npower will be apologising to its 5.4m domestic customers for problems associated with its billing process. In November, figures from the regulator Ofgem found that Npower was receiving five times more complaints than the highest performing energy company. The company has promised to correct issues over setting up accounts and billing as well as promising [...]
Wanted to make a fortune from 2000 to 2013? Tobacco and alcohol would have been your best bet December 2, 2013 If you could go back to the start of the century and make a few choice investments to make a fortune by Christmas 2013, what would you have bought? According to Hardman & Co the best return on your investment would have been tobacco followed distantly by alcohol. Since 1 January 2000 capital returns for [...]
Thames Water plans 11 per cent price hike as it submits business plan December 2, 2013 Thames Water wants a real terms price hike of 11 per cent between 2015 and 2020 according the company's business plan submitted to Ofwat on Monday. Thames Water cited the need for £8bn of investment in the Thames Tideway Tunnel and the wider network as reasons for the price increase. Under the proposed plans the [...]
EU hammers Chinese solar panels with new tariffs December 2, 2013 The European Union has confirmed that it will be imposing duties on Chinese solar panels that will apply for two years starting 6 December 2013. The Commission also confirmed its decision to accept the undertaking with Chinese solar panel exporters applied at the beginning of March. The Commission said in a press release: The imposition [...]
