Big six energy bosses called before MPs October 22, 2013 The chief executives of the big six energy firms have been called before the energy select committee on 29 October. Sir Robert Smith MP said in a statement that "the committee has today decided to call in the energy bosses in the context of the latest wave of price increases". MPs will grill bosses over [...]
Euro is “too German” says French industry minister October 22, 2013 Frustration over the current state of the Euro was given a voice on Tuesday, in the form of French industry minister, Arnaud Montebourg. In an interview with French newspaper Le Parisien, Montebourg said: The euro is too expensive, too strong and a little too German. It should be a little more Italian, French, and simply [...]
EU launches second investigation involving Holcim deals October 22, 2013 The European Commission has launched an investigation into the planned acquisition of Cemex West by Swiss cement giant Holcim. The Commission is concerned that the deal may reduce competition in Germany and Belgium, where Cemex West is a competitor to Holcim. The Commission has until 10 March to make a decision. The planned transaction involved [...]
Ex-Co-op boss says bank crisis a “tragedy” and that governance structure must change October 22, 2013 Ex-Co-operative chief executive Peter Marks has said that the Co-op Bank has been a "tragedy" while grilled by the Treasury Select Committee (TSC). Marks told the committee that he wasn't on the bank's board and that he could not have changed its governance, pointing to the very different structure of a private limited company versus [...]
Nokia unveils hosts of new tablets and phablets on Windows tech October 22, 2013 Nokia has unveiled the world's first Windows tablet and host of phablet products at an event in Abu Dhabi. The Lumia 2520 is the only Windows RT tablet made by a manufacturer other than Microsoft. In September US computing giant Microsoft agreed a €5.33bn (£4.52bn) deal to purchase Nokia's mobile devices arm. The operating system [...]
Government deficit falls faster than anticipated in September but spending is still on the rise October 22, 2013 The government's budget deficit has (by one measure) come in lower than expected in September. At £11.1bn, that's shy of the £11.3bn that analysts had anticipated, and a fall from £12.1bn in the month before. In that period government revenues rose by seven per cent, with spending up 2.5 per cent. The privatisation of Royal [...]
Investment in climate change projects falls says think tank report October 22, 2013 Financing for projects to combat climate change fell one per cent last year according to the Climate Policy Initiative. Global investment in climate change reached £222.55bn in 2012, compared to £225.65bn the year before. The figure comes well below what some bodies are recommending to combat climate change. The International Energy Agency forecasts that over [...]
Bank’s Bean says UK some way off a housing boom October 22, 2013 Charlie Bean, deputy governor for Monetary Policy at the Bank of England, has said that he thinks we are "still some way off seeing an unsustainable house-price boom" despite "increasingly noisy commentary" to that effect. The third override condition, delegated to the Bank’s Financial Policy Committee, relates to whether the monetary policy stance is resulting [...]
Crude oil price drops to July lows overnight October 22, 2013 The price of oil saw weakness overnight, with a barrel of US crude falling to just $98.79 (£61.26). The drop below $100 takes crude to its lowest point since July. Mike van Dulken, head of research at Accendo Markets, says that "oil remains weak on the US stockpile data yesterday as well as a rebound [...]
Logistics firm Charles Gee goes into administration following Hinkley Point nuclear announcement October 21, 2013 Haulage and shipping group Charles Gee has been forced into administration, after saying it was waiting on Hinkley contracts before making a decision on its future. Express and Star reports that a spokesman for the administrators, FRP Advisory, said: "They have been waiting on Hinkley. That would have been a big source of work and [...]
