Citizens Advice accuses Ofgem of failing to act against unfit energy suppliers ahead of gas price crisis December 9, 2021 Citizens Advice slammed Ofgem yesterday for failing to act against unfit energy suppliers before the ensuing gas price crisis.
Oil sorted? Prices show partial signs of recovery amid reports of mild Omicron variant December 6, 2021 Oil partially recovered on Monday, climbing towards $72 a barrel with reports of Omicron being milder than first feared.
London markets brace for another week of Omicron volatility December 5, 2021 London markets are set for another whipsawing week driven by investors responding sharply to any news on the Omicron variant. The capital’s premier FTSE 100 index was extremely volatile last week, fluctuating between good and bad days. The blue-chip index ultimately finished the week higher, but failed to cancel out all of the losses registered [...]
Ofgem could bring in ‘fit and proper’ tests and hedging controls for energy suppliers November 30, 2021 Ofgem could bring in “fit and proper” tests and capital requirements for suppliers as soaring wholesale costs wreak havoc with the market.
Energy market meltdown could burden UK households with £3.2bn bill November 29, 2021 UK households could be on the hook for £3.2bn to fix the energy market meltdown which has already affected four million customers.
City Moves: Who’s switching jobs in the Square Mile today? November 23, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Validus Validus Risk Management (Validus) has appointed an asset management veteran to its London-based chief operational officer position, while it also appoints a new principal in New York. Jarv Ashford joins the financial risk advisory firm from [...]
European carbon benchmark prices breach €70 for first time amid colder winter weather and consumption demand November 22, 2021 European carbon prices have sustained record levels, climbing above €70 per tonne for the first time since the European Union’s market was launched in 2005. Monday was the sixth consecutive day of European carbon allowances setting an all-time high. The European benchmark price soared to €70.43 yesterday, amid colder than expected weather and less wind [...]
Investec boosts guidance after profit more than doubles and sheds 15 per cent of Ninety One November 18, 2021 Investec today said its recovery continued in the first half of its new financial year, as profit more than doubled from the same period a year earlier. The FTSE 250 firm said this rebound was driven by a strong earnings recovery on increased client activity across the business and lower funding costs. As a result [...]
Covid-19 spooks majority of firms to keep cash reserves stocked up November 15, 2021 More than 70 per cent of larger businesses are seeking to bolster their cash reserves, as firms look to strengthen their position to tackle any future crises, according to the latest research, which has been shared exclusively with City A.M. The Covid-19 pandemic has been a wake up call for businesses, after the global health [...]
Oil prices fall again amid fears of US interest rate hikes November 12, 2021 Oil prices slumped on Friday afternoon amid swirling rumours of impending interest rate hikes and President Biden releasing stored supplies. WTI Crude plummeted 1.89 per cent to $80.03 a barrel, while Brent Crude futures dropped 1.69 per cent to $81.49, wiping out gains from the past week. Both benchmark crude contracts were poised to end [...]