Trafigura revels in record $3.1bn profits amid global supply chain disruptions December 8, 2021 Commodities specialists Trafigura enjoyed company record profits of $3.1bn as demand for metals and oil increased alongside supply chain issues.
Consumer spending anxiety on the up as households look to cut back before Christmas December 8, 2021 Brits are growing increasingly anxious about the rising cost of living and are dining out less and shopping in cheaper stores. With food and energy bills on the up, more than one in three are nervous they will be unable to pay for essentials, according to a survey of 2,000 UK adults. Almost half of [...]
Outlook 2022: Global economy December 7, 2021 2022 is set to be another good year for growth, albeit the recovery is likely to remain unbalanced. Anticipated withdrawal of emergency levels of support will play important role in shaping outlook. Risks include higher-than-expected inflation and weaker growth. The emergence of the Omicron Covid variant has reminded us of the uncertainties which remain around [...]
Cost of keeping energy market in check quadruples to near £1bn as winter crisis deepens December 6, 2021 The cost of pricing the country’s energy sector has quadrupled over the past two years as the industry lurches from the pandemic and soaring wholesale costs.
Top Bank of England rate setter warns inflation will breach five per cent soon December 6, 2021 A top rate setter at the Bank of England has today warned inflation will soar far above the Old Lady’s target and breach five per cent. Ben Broadbent, a deputy governor at the Bank, said in a speech in Leeds “in the spring of next year… [inflation] will probably climb comfortably through five per cent, [...]
SSE’s distribution company commits £4bn to boost infrastructure amid net zero push December 1, 2021 Scottish and Southern Electricity Networks (SSEN) Distribution will invest around £4bn over a five-year period across its network.
Ofgem offers suppliers pathway to recouping costs after taking on new customers December 1, 2021 Energy firms that rescued stranded customers from fallen suppliers since September can now submit claims for incurred costs.
Carbon capture could break even by end of decade if markets continues to mature: Equinor December 1, 2021 Carbon capture and storage (CCS) services for large industrial emitters could break even in the next 10 years if emitting a tonne of carbon costs around 100 euros per tonne, Equinor’s CCS chief said at the Reuters Next conference . CCS transports CO2 from where it is emitted, typically a smokestack, and stores it, usually in [...]
How the Berlin Wall still influences culture and commerce December 1, 2021 Nature is reclaiming the Death Strip. Pioneer birch trees have self-seeded, creating a winding, shady memorial that cuts through the heart of Berlin. There are cherry blossoms too, a gift from the Japanese government. But it is the slim, silvery trunks of the birches, and the dappled, dancing shadows they cast on the path, that [...]
Zog Energy collapses amid deepening winter energy crisis December 1, 2021 Zog Energy ceased trading today, marking another dark chapter for the struggling industry, with four million customers now affected by the crisis.