Number of UK gas suppliers almost cut in half by energy price crisis November 4, 2021 UK energy suppliers have nearly halved in number this year, as soaring wholesale prices wreak havoc with the struggling sector. New research from Cornwall Insights has revealed that the market has sharply decreased from 47 suppliers at the start of 2021 to 24 currently left operating in the country. The number of departures from the [...]
Construction industry recovers from eight month low November 4, 2021 The UK’s construction industry confounded market expectations as growth picked up following an eight-month low on the IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI). The sector has been struggling amid global supply chain issues and labour shortages, while demand for building projects has also decreased. The index rose to 54.6 in October from 52.6 [...]
COP26: China, US, India and Australia absent from global coal pact November 4, 2021 China, US, and India and Australia have not joined 48 nations pledging to phase out coal production. All four countries are collectively responsible for over 50 per cent of coal emissions. The pact was agreed at the COP26 climate conference in Glasgow, and commits countries to ending coal power usage in the 2030s across major [...]
Customer demand drives Aston Martin to third quarter recovery November 4, 2021 Luxury sports car manufacturer Aston Martin has seen its year-to-date revenues almost treble, rising 173 per cent to £736.4m. Rising wholesales, driven by customer demand as the economy recovers from the pandemic, has led the company into a positive adjusted EBITDA position. It has enjoyed a £190m improvement on last year’s totals, as the adjusted [...]
COP26: IMF calls for developed economies to face higher carbon costs November 3, 2021 The International Monetary Fund is pushing for a global price on carbon, and wants wealthier countries to pay a greater share of the costs. The financial institution’s managing director Kristalina Georgieva has proposed an international carbon price floor to ensure “large emitters have compatible carbon pricing”. Speaking at the COP26 climate conference in Glasgow, she [...]
Three million households to be in debt to energy supplier this winter November 3, 2021 More than three million UK households are facing a troubled winter in debt to their energy supplier – half a million more than last year – according to comparison service USwitch.com Its latest research reveals that 59 per cent of households say they are either worried, or very worried, about how they are going to [...]
Smurfit wraps up third quarter with 15 per cent rise in revenue November 3, 2021 Packaging titan Smurfit Kappa Group has wrapped up its third quarter with revenues rocketing 15 per cent year-on-year, reaching $7.287 billion. The group’s EBITDA has enjoyed a comparative year-on-year growth of 10 per cent to €1.235bn, with a margin of 17 per cent The company has approved €600m of investments in projects across the business [...]
Anglo American appoints Duncan Wanblad as chief executive November 3, 2021 Mining company Anglo American has named insider Duncan Wanblad as its new chief executive officer. The appointment has been widely expected, and will see current boss Mark Cutifani leave in April after nearly a decade in the role. Wanblad has worked as group director of strategy and business development since 2019. He was previously the [...]
BMW beats expectations with rising third quarter profits as electric vehicle sales soar November 3, 2021 German manufacturing giant BMW has reported third quarter net quarter profits of EUR 2.58 billion, surpassing analysts’ expectations with a 42.4 per cent year on year increase during the three-month window. The outperformance in profits is powered by rocketing sales of electric vehicles and higher car prices. BMW has now reported an operating profit (EBIT) [...]
Energy crisis continues with CNG Energy’s retail arm on the brink of collapse October 28, 2021 CNG Energy’s retail arm is on the verge of collapse. The embattled firm is close to falling into the infamous supplier of last resort process, according to Sky News. The supplier provides energy only to commercial clients. It is responsible for 45,000 customers, including schools, hairdressers, hotels and restaurants. If it ceases trading, it will [...]
