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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EDF’s fragmented board to discuss Hinkley later today

May 12, 2016

The controversial Hinkley Point C nuclear power plant station is expected to be divisive at the annual meeting of French utility giant EDF later today. It was due to receive the final go-ahead today, but this was recently kicked back to September amid a tussle with unions over whether the company's strained balance sheet can stomach the £18bn [...]
London rent cap comment piece

May 11, 2016

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Oil prices jump after US inventories unexpectedly tumble

May 11, 2016

Oil prices shrugged off earlier losses to crawl into positive territory this afternoon, after US oil stocks unexpectedly tumbled. Data released today by the Energy Information Administration showed US oil inventories fell by 3.4m barrels in the week ending 6 May. Analysts had pencilled in a build of 80,000 barrels. Gasoline supplies slumped by 1.2m barrels, while distillate [...]
UK terror threat from Northern Ireland raised to “substantial”

May 11, 2016

The UK raised its terror threat from Northern Ireland to "substantial" from "moderate". This means there's a "strong possibility" of a an attack in England, Scotland or Wales. Read more: Terror in the heart of Europe – British security services on high alert after double attacks in Brussels "This means that a terrorist attack is a strong possibility [...]
Macy’s cuts its sales and earnings forecasts for 2016

May 11, 2016

US retail giant Macy's cut its sales and earnings growth forecasts, as consumers remain reluctant to splash the cash. It now expects full-year comparable sales to slump between three to four per cent, compared to its previous guidance for a decline of about one per cent. Terry Lundgren, Macy's chairman and chief executive officer, said: "We have an opportunity [...]
Premier oil share price slides despite oil production topping forecasts as debt concerns linger

May 11, 2016

Premier Oil said today that it could beat its full-year production target after hitting record-high output levels, as it continues to shrink operating costs. It hit production levels of 78,000 barrels per day (bpd) last weekend, putting it on course to smash its 65,000-75,000 bpd full-year target. It also cut costs by 10 to 20 per cent more [...]
Tui makes plans to bring brands under umbrella as it puts specialist group up for sale

May 11, 2016

Tour operator Tui could re-brand some of its businesses under the Tui name. The company is considering changing the names of well-known holiday brands Thomson and First Choice. Yesterday the company announced it would hold onto Crystal Ski and Thomson Lakes & Mountains while offloading over 50 other brands within its Specialist Group business. The [...]
Former pensions minister Steve Webb warns of “pensions time bomb”

May 11, 2016

The former pensions minister warned workers who make the minimum contribution into their retirement funds are sitting on a "ticking time bomb". He said that the minimum contribution isn't enough to give retirees a decent pension, and savers must cream off more of their pay check to afford comfortable retirement. Steve Webb, now policy director at [...]
Heathrow backs down on night flights to get third runway off the ground

May 11, 2016

Heathrow Airport has pledged to reduce night flights, as well as curtailing noise and pollution, in a bid to get its third runway off the ground. It comes ahead of a widely-anticipated government decision on whether to expand Heathrow or rival Gatwick, due out later this summer. Read more: Exasperated business bosses want second runway at Gatwick if [...]
Neil Woodford-backed Purple Bricks says full-year revenue quadrupled

May 11, 2016

Neil Woodford-backed hybrid online estate agent Purple Bricks expects its full-year revenue to have quadrupled. The Aim-listed firm said today that its revenue for the full year is expected to be approximately £18.5m, a year-on-year increase of some 445 per cent. Read more: Purplebricks raises £58m in junior market Aim listing Trading throughout the second half of the year [...]

Shoe Zone kicks out at budget tax raids as it stumbles into loss

Aston Villa facing Premier League scrutiny over £55m Warehouse sale

How London’s bakers have become the new mixologists

By: Jessica Morris

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