BP plans UK’s largest hydrogen plant in Teesside March 18, 2021 Energy giant BP today said it aims to build Britain’s largest hydrogen plant by 2030 as part of the UK’s push to boost fuel use and cut greenhouse gas emissions. The Teesside plant in northern England will have capacity of up to 1GW of so-called blue hydrogen, a fifth of Britain’s 5GW target for the [...]
Ofcom gives BT green light to charge more for full-fibre broadband March 18, 2021 Ofcom has given BT the green light to continue charging higher prices for its full-fibre broadband services in a bid to encourage investment in the network across the UK. The media watchdog today said BT’s Openreach will be free from price caps on its wholesale offering for at least a decade. The long-awaited announcement forms [...]
Why the Premier League TV rights bubble really might be about to burst this time March 18, 2021 The Premier League TV rights for 2022 to 2025 will go under the hammer in the next few months. The outcome of that process could put the competition’s very existence at risk. In 2018, the UK segment of the Premier League TV rights sold for £4.5bn, down from a £5.1bn high in 2015. The rights [...]
Premier Oil swings to hefty loss in final results before Chrysaor merger March 18, 2021 Premier Oil swung to a $1.3bn pre-tax loss in its final set of results before its proposed merger with fellow North Sea firm Chrysaor completes. The FTSE 250 firm said that the loss was mostly driven by one-off charges, including $817m relating to the partial derecognition of Premier’s UK ring fence tax losses. It added [...]
Uber’s treatment of workers wasn’t sustainable, but the ruling shouldn’t be the downfall of the gig economy March 18, 2021 This week we saw Uber’s lengthy court battle with regulation come to an end, as the Supreme Court ruled that it must classify its drivers as workers, entitling them to minimum pay, holiday and pensions. The debate around the welfare of gig economy employees has been on the agenda for a good few years now, [...]
Credit Suisse replaces asset management head after Greensill collapse March 18, 2021 Credit Suisse has replaced the chief executive of its asset management business and announced plans to separate the division that has faced scrutiny over its Greensill-backed funds. The Swiss bank announced the appointment of Ulrich Korner as chief executive of the asset management business who will report directly to the bank’s chief executive Thomas Gottstein. [...]
Eve Sleep bounces back ‘six months ahead of plan’ as revenue rises March 18, 2021 Mattress maker Eve Sleep today reported a rise in yearly revenue as it hailed a strong improvement in trading during the second half of 2020. The firm saw revenue rise six per cent to £25.2m, while year-on-year growth edged up 19 per cent in the second half. Profit rose 14 per cent to £14.5m as [...]
Car dealer Lookers predicts small profit after 2020 turbulence March 18, 2021 Car dealership Lookers this morning said that it was expecting a full year profit of £10m for 2020, beating analyst expectations of a small loss. Shares in the firm rose 5.4 per cent as markets opened this morning. In an update, the FTSE 250 firm said it was still working on its full accounts for [...]
The Gym Group swings to hefty 2020 loss following Covid closures March 18, 2021 The Gym Group today said it was equipped to bounce back from a turbulent year after swinging to a heavy loss in 2020. The fitness firm suffered a £46.52m pre-tax loss, which signalled a 433 per cent drop from the £14m profit posted for 2019. The group’s revenue was £80.47m for the year ended 30 [...]
Ocado CEO Tim Steiner: M&S products are more popular than Waitrose March 18, 2021 Ocado’s M&S products are favoured over the former Waitrose partnership products with customers, as the company enjoys a doubling of new registrations, the company’s chief executive said this morning. “The M&S product is more popular with our customers than the Waitrose products were,” chief executive Tim Steiner said during an investor call earlier this morning. [...]
