Uniper asks Berlin for more help, raising bailout to £16bn August 29, 2022 German energy giant Uniper has asked Berlin’s government for additional funding, raising the total bailout sought to €19bn (£16bn). The company said its current liquidity was impacted by the West’s standoff with the Kremlin over energy supplies and the consequent surge in costs. “As Russia does not honour its supply contracts, we have to buy [...]
Europe faces winters of discontent without gas price cuts, warns Belgium August 29, 2022 The EU could suffer a decade of painful winters if nothing is done to reduce natural gas prices, warned Belgium's energy minister.
Ericsson to wrap up remaining Russian operations, says local state media August 29, 2022 Ericsson will wrap up its remaining Russian operations by the end of this year, according to local state media. The Swedish telecom equipment manufacturer announced in February, following Russia’s invasion of Ukraine, that it would suspend deliveries to customers in Russia, in line with Western sanctions. Then in April, the company placed its Russian employees [...]
EXCLUSIVE: So Energy calls for insulation boost to ease winter crisis August 29, 2022 The Government should help households ease demand and drive down soaring bills, says So Energy co-founder Simon Oscroft.
Overhauling planning laws key to reviving fracking argues industry body August 26, 2022 One of the UK's leading energy bodies has warned that a revival of fracking has to be married with planning reform.
Nine million households face fuel poverty this winter after energy bill hike August 26, 2022 The number of people in fuel poverty will nearly double this winter, warned charity National Energy Action.
A global food crisis could spell a bigger catastrophe than Vladimir Putin’s war August 26, 2022 You always knew you had reached an intellectual dead end when foreign policy grandees sat around a table and recommended sanctions as an all-purpose answer to any problem. While such an initiative almost never practically worked in terms of changing the policy of the offending country, it made political sense in a Washington sort of [...]
Citi to wind up Russia operations as Wall Street giant fails to find a buyer August 25, 2022 Reuters Wall Street giant Citi will close its consumer and commercial banking businesses in Russia starting this quarter and expects to incur about $170 million in charges over the next 18 months as a result, the company said on Thursday. The U.S. bank with the largest presence in Russia announced plans in April 2021 to [...]
Soaring inflation risks creating UK property ‘insurance gap’ August 25, 2022 SOARING inflation in the construction sector threatens to create a major “insurance gap” amongst UK policyholders, London headquartered insurer Chaucer has warned. Sharp increases in the costs of building materials could leave homes and businesses underinsured, as policies fail to cover the cost of repairing and rebuilding damaged properties, research carried out by the Lloyd’s of [...]
Boris Johnson: We’re paying higher energy bills due to Putin, Ukraine is paying in blood August 25, 2022 As Brits face soaring energy bills in part due to Russia’s war in Ukraine, outgoing prime minister Boris Johnson said they should take on the burden because “the people of Ukraine are paying in their blood”. The soon-to-be former prime minister made his remarks during a surprise visit to Kyiv as Ukraine marked its 31st [...]