More engineers needed to meet heat pump targets and net zero goals, reveals UK charity July 7, 2022 Not enough people are being trained as heat pump engineers to meet government targets for installations, warned charity Nesta.
Whoever leads the No11 regime must learn spending will only fuel inflation July 7, 2022 The year ends with a two. We have a Prime Minister who reset Britain’s relationship with Europe and has suddenly appointed an inexperienced Chancellor. The new regime in Downing Street now promises tax cuts in the face of high inflation. Am I mad, in a coma, or has the Tory Party travelled back in time? [...]
Second coal power plant to be kept on standby as winter months loom July 6, 2022 Drax Group (Drax) has reached a deal with National Grid to extend the lifespan of its two coal-fired units in Yorkshire over winter.
Government amends windfall tax as energy body warns of supply shocks this winter July 6, 2022 The Government has made several amendments to the Energy Profits Levy, with industry bodies calling for further changes ahead of winter.
Gas prices ease as Norway’s government steps in to stop strikes from offshore workers July 6, 2022 Gas prices have dropped across Europe after the Norwegian government stepped in to end strike action from offshore workers.
Crypto market risk profile similar to oil prices and technology stocks, Coinbase says July 6, 2022 Crypto risk profiles are like those in oil prices and tech stocks, according to crypto exchange Coinbase. “The market expects crypto assets to become more and more intertwined with the rest of the financial system, and thus to be exposed to the same macro-economic forces that move the world economy,” Coinbase Institute Chief Economist Cesare [...]
The Very Group hires ex-Walmart executive as CEO amid £4bn IPO rumours July 6, 2022 The Very Group has snapped up the former president and CEO of Walmart Japan Lionel Desclée to run the online retail giant as it mulls a £4bn float. Desclée will join the company on 19 September, as current CEO Henry Birch will step down after four and a half years overseeing the firm. Very Group [...]
Chairman of abrdn’s Chinese investment vehicle blames ‘zero-Covid-19’ policy for collapsing returns July 6, 2022 The chairman of abrdn’s Chinese investment vehicle has pinned collapsing returns on Beijing’s controversial ‘zero-Covid-19’ stance and geopolitical woes. While the country is still considered to have significant growth prospects in the long-term, returns on assets in the country have plunged 23 per cent in the six months to 30 April, reversing a nearly 19 [...]
Bank of England economy warning sends London markets lower July 5, 2022 London markets were dragged lower today by the Bank of England warning the UK economy is headed for a tough time over the coming year. The capital’s premier index shed nearly three per cent to close at 7,025.47 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
West under pressure to secure energy supplies as Norwegian offshore workers go on strike July 5, 2022 Europe faces further pressure in securing supplies ahead of winter , after Norwegian oil and gas workers went on strike today.