Oil prices tumble as Shanghai shuts down amid surging Covid-19 cases March 28, 2022 Oil prices dipped four per cent on both major benchmarks this morning following Shanghai's launch of a two-stage lockdown to combat Covid-19.
National Grid’s £4.2bn gas sell-off to Macquarie comes under fire from Vince Cable March 28, 2022 Former business secretary Vince Cable has criticised National Grid's decision to sell a 60 per cent stake in NGG to Macquarie.
Interventions have merit, but government mustn’t get hooked on meddling March 28, 2022 The drumbeat towards another Sunakian save-the-day package has begun, it seems. It is barely weeks since the Chancellor’s first energy market intervention, a devillishly complicated scheme of rebates and discounts to reduce the pain of higher energy prices. Russia’s invasion of Ukraine has now added further upward pressure on those same costs, and it is [...]
Soaring energy bills to drag on UK economy, new forecasts reveal March 28, 2022 Swelling energy bills are set to drag on the UK economy this year by sending a chill through household spending, reveals new research published today. Household energy bills will almost double in October even after rebates are handed out, according to new forecasts published by the EY Item Club today. The downbeat assessment adds to [...]
Government plans to take stake in Sizewell C plant in nuclear push March 27, 2022 The government plans to snap up a 20 per cent stake in a major new nuclear plant in Suffolk as it scrambles to boost the country’s energy security amid soaring energy prices and war in Ukraine.
Ukraine war: Peace talks set to resume as Kyiv recaptures villages March 27, 2022 Ukrainian and Russian officials will resume peace talks in Turkey tomorrow, after Kyiv claimed that its forces have re-taken villages near two major cities under fierce attack. David Arakhamiya, a member of the Ukrainian negotiating team, today said on a Facebook video that another round of in-person negotiations will happen between 28 and 30 March. [...]
Zurich axes Z symbol after letter is adopted by pro-war groups March 27, 2022 Insurance giant Zurich has scrapped the use of its ‘Z’ logo from social media after the letter became appropriated as a symbol for support of war in Ukraine.
Ukraine: Antony Blinken says US not seeking regime change in Russia March 27, 2022 The US is not looking to pursue regime change in Russia in spite of comments made by Joe Biden yesterday, secretary of state Antony Blinken has said. The US President said last night in Warsaw that Putin was a “butcher” who “cannot remain in power”, before White House officials quickly backtracked and said Biden was [...]
Short sellers pile into Royal Mail after top investor feels the strain of war March 27, 2022 Short sellers are piling into bets against Royal Mail after the shocks of war in Ukraine put the squeeze on its largest investor, Czech billionaire Daniel Kretinsky.
National Grid ditches stake in gas transmission unit March 27, 2022 National Grid is ditching its 60 per cent stake in its gas transmission and metering arm to a pair of funds, it announced today. The firm which manages the distribution of energy around Britain will offload the stake to Australia’s Macquarie Asset Management and Canada’s British Columbia Investment Management Corporation. The sale will raise around [...]