UK manufacturing growth slumps to 16 month low June 1, 2022 The soaring cost of living and a slowdown in shopper demand choked off growth in British manufacturing last month as the sector expanded at the weakest rate since January 2021, a closely watched survey revealed today
Oil markets sustain rally as EU commits to Russian embargo May 31, 2022 Oil prices continued to rise today, after the EU finally agreed to a phased and watered down ban on Russian crude imports.
Shell refuses to set up Gazprom account as it continues Russian withdrawal May 31, 2022 Energy giant Shell has confirmed it will not set up a rouble account, under new terms demanded by Kremlin-backed giant Gazprom.
Gazprom widens gas cuts after EU brings in oil ban May 31, 2022 Russia has escalated its economic warfare with Europe, with Gazprom widening gas cuts across the continent in retaliation to Western sanctions.
Petrol retailers are not profiteering despite record prices at the pumps, say experts May 31, 2022 Petrol retailers are not engaging in wholesale profiteering amid record forecourt prices said industry analysts.
Explainer-in-brief: firing up the coal plants to stave off the dark of night May 31, 2022 Six million British households could face power cuts this winter, as the consequences of Russia’s invasion of Ukraine send shockwaves across the energy supply chain. This is bad news not only for the people affected, who could see their electricity cut in the early mornings and evenings, but also for the green transition. Keeping the [...]
Sluggish start for FTSE 100 as Russian oil imports cut off May 31, 2022 The FTSE 100 was off to a sluggish start on Tuesday after EU leaders have hashed out a plan to block more than two-thirds of Russian oil imports. The capital’s premier FTSE 100 index was up just 0.2 per cent while the brent crude price rose again, at $124 a barrel. “Given Russia currently supplies [...]
Boris Johnson’s political life getting more difficult by the hour as letters of no confidence from Tory MPs pile up fast May 31, 2022 Tory whips are said to be discussing how to fight back if rebels trigger an all-important confidence vote as letters of no confidence in prime minister Boris Johnson are piling up fast. A steady stream of Tories have backed a ballot to decide the PM’s future, or called for Mr Johnson to step down, with [...]
Russia’s biggest bank Sberbank thrown out of SWIFT while EU moves to ban 90 per cent of Russian oil May 31, 2022 Most Russian oil imports into the EU will be blocked by year-end as part of new sanctions on Moscow, European leaders agreed late last night. The compromise was made at a two-day summit focused on helping Ukraine with a long-delayed package of new financial support. The embargo covers Russian oil brought in by sea, allowing [...]
Government’s net zero strategy only speaking to ‘energy elite’ warns Utilita boss Bill Bullen May 31, 2022 The government's net zero strategy is only resonating with the UK's "energy elite", argued Utilita Energy boss Bill Bullen.