By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Mitie Group share price jumps as profit doubles

May 23, 2016

UK outsourcer Mitie shook off a string of "unanticipated macroeconomic headwinds" to double profit in the year ended 31 March. The figures: Revenue from continuing operations fell 1.8 per cent to £2.2bn in the year ended 31 March, down from £2.3bn a year earlier. But pre-tax profit rose 133 per cent to £96.8m during this period, up from [...]
Who are the seven bidders vying for Tata Steel’s UK assets?

May 23, 2016

Today is the deadline for the submission of final bids for Tata Steel's UK assets, which include Port Talbot, as well as sites at Newport and Rotherham. Seven bidders are expected to present to Tata's board in Mumbai on Wednesday, however and the most likely next step will be to form a shortlist of candidates. Excalibur Steel Excalibur, [...]
The Chinese town where robots replaced 60,000 workers

May 23, 2016

A Chinese manufacturing hub enlisted a fleet of robots to help overhaul its growth strategy. Kunshan, in Jiangsu province of China, used to be one of the country’s best performing economies. But its reputation was dented after an industrial explosion killed 146 people in 2014. At the time, it was blamed on poor safety standards [...]
Canada’s oil heartland has some evacuation orders lifted

May 21, 2016

Evacuation orders have been lifted on two oil sites in Canada's wildfire-ravaged energy heartland, as a spell of cold weather and rain helped to tame the flames. Authorities in the oil town of Fort McMurray in Alberta lifted the lifted the mandatory evacuation orders on Suncor Energy's base plant and Syncrude's Mildred Lake facility, as well as nearby camps [...]
Two bookies slash odds of UK “In” vote in EU ref to shortest so far

May 21, 2016

William Hill and Ladbrokes are offering the shortest odds to date for Britain staying in the European Union, as people think it's increasingly likely the UK will remain. The two bookies cut their odds on Britain staying in the EU to 1/6, leaving punters with only £1 in profit for every £6 wagered. Telephone and online polls [...]
Labour derides London housing costs as “biggest single blight” on city

May 21, 2016

Labour launched a stinging attack on London housing costs, describing them as the "single biggest blight on this city". Speaking at a conference to set out Labour's new vision for the economy, shadow chancellor John McDonnell promised to help people "who are at the mercy of an unforgiving, unrestrained housing market and landlords". Read more: Shadow chancellor [...]
EgyptAir flight MS804 black box has been located, reports suggest

May 21, 2016

Update: EgyptAir MS804 latest – forensic official says crash was caused by "explosion" Reports suggest that the black box which will likely reveal what caused the missing EgyptAir flight MS804 to crash has been found. An Egyptian government source told CBS news search crews have located the plane's data recorders, commonly known as the black box. Separate reports [...]
RAC: Petrol prices to be “kept in check” if oil prices overshoot $50 per barrels

May 21, 2016

The RAC assured motorists it expects fuel prices to remain in check, despite a recent uptick in the oil price due to production outages across the world. Supermarkets slashed petrol prices to below £1 per litre in the run-up to Christmas, citing savings from oil prices which had fallen from over $110 per barrel in the middle of [...]
Chancellor George Osborne warns again Brexit will hit house prices

May 21, 2016

Chancellor George Osborne again warned Brexit will hit house prices, as an immediate economic shock hits financial markets. Speaking at the G7 finance ministers’ meeting in Japan, he said: "There would be a hit to the value of people’s homes by at least 10 per cent and up to 18 per cent … first-time buyers are hit because mortgage rates [...]
Russia isn’t expecting much from Opec’s next meeting

May 20, 2016

Russian energy minister, Alexander Novak, isn't expecting much from the fractured Organisation of Petroleum Exporting Countries' when it meets early next month. "In my opinion, any decisions on coordination which would require an obligatory fulfilment, are unlikely to be taken," Novak told Russian state TV in an interview. Read more: Opec faced with waning influence [...]

UK fintech chiefs switch growth plans as capital conditions wane

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By: Jessica Morris

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