Pennon claims government’s energy policy is biased towards wind power November 25, 2010 BRITISH water and waste company Pennon launched a fresh assault on the government’s renewable energy policy yesterday, calling it “wedded” to wind and neglectful of projects to generate power from waste. The company, which combines South West Water and waste management company Viridor, unveiled a target to increase the capacity of its waste-to-energy plants to [...]
Tate & Lyle unit sold for £67m November 25, 2010 TATE & Lyle yesterday sold off the last of its historic British sugar businesses – offloading its molasses distribution arm for £67m. Northern Irish commodities group W&R Barnett has bought the unit in cash, and Tate & Lyle says it will use the proceeds to pay down its net debt. The molasses business had annual [...]
Hopes rise for aviation recovery November 25, 2010 HOPES of a firm recovery in global air travel have risen after passenger demand increased by a tenth last month, industry figures showed. Demand increased by 10.1 per cent in October while freight rose 14.4 per cent, according to traffic data from the International Air Transport Association (IATA). Industry growth was returning to more normal patterns [...]
Higher output and metal prices boost Antofagasta November 25, 2010 CHILEAN copper miner Antofagasta reported a surge in nine-month profit on the back of higher output and metals prices, but this fell short of some investors’ expectations. The London-listed group also said it had launched operations at its new Esperanza mine, part of an expansion that is due to lift output by a third next [...]
Russian state bank eyes E.ON’s stake in Gazprom November 25, 2010 A DEAL for the sale of German utility E.ON’s stake in dominant Russian gas company Gazprom to Russian state bank VEB may be announced as early as today, a source in Russia’s energy ministry said yesterday. “The idea is completely realistic. I think that this is what will happen, I think it will be announced [...]
IRELAND BETS ALL ON DRASTIC CUTS November 24, 2010 THE Irish government today released a four-year austerity plan described as “draconian” and “staggeringly austere” by analysts, with €15bn (£12.6bn) of budget cuts planned by 2014. But the measures failed to placate the markets, where Irish bond yields continued to rise on fears that the government will be unable to get the cuts through parliament: [...]
Time to rethink environmental policy November 24, 2010 IN an age of austerity, it is vital we think outside of the box. This ought to be especially true of environmental issues, an area in which Britain remains wedded to old thinking. We desperately need a pro-growth, pro-jobs strategy to help the private sector get us out of our present mess – yet the [...]
Rowland gives Tories £1m November 24, 2010 DAVID Rowland, the property tycoon, gave the Tories a £1.065m gift in the third quarter, figures released yesterday showed, making him the biggest political donor. Rowland had been expected to become the Tory party treasurer, although he ruled himself out after other donors balked at the prospect of his appointment. Overall, donations plummeted compared to [...]
Lloyds chief in plea to avoid a forced break-up November 24, 2010 LLOYDS Banking chief Eric Daniels yesterday warned that forcing a break-up of the bank with its 30 per cent plus share in several retail markets would be a mistake. There is mounting speculation that Sir John Vickers independent commission, set up by the coalition government after the election, could force Lloyds to unwind its controversial [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 24, 2010 FINANCIAL TIMES TOYOTA STILL ON ALERT AFTER CRISIS Toyota remains on a “crisis” footing a year after the first of a wave of recalls of more than 12m vehicles, an executive at the Japanese carmaker has said. Shinichi Sasaki, the board member responsible for quality, told the Financial Times: “I don’t think the crisis is [...]
