UK insolvencies spike as construction firms struggle February 10, 2020 The number of UK firms falling into administration jumped last year, driven by companies in the building and construction industry. In total, 1,403 firms entered administration last year compared to 1,341 in 2018 – a rise of just under five per cent. Building and construction firms were the hardest hit by challenging trading conditions last [...]
Ofgem to lower the energy price cap by £17 for 15m households February 7, 2020 Ofgem will cut the energy price cap by £17 from April as lower wholesale costs drive the price downwards, the regulator confirmed today. That will leave the default price cap at £1,162 for April to September, down from its previous level of £1,179. Ofgem said 11m households will benefit from the lower cap. The pre-payment [...]
Fusion energy can power us to a greener world February 6, 2020 There is an old joke among scientists: fusion power is 30 years away, and always will be. Yet as we enter the decade in which the big questions on the future of energy must be answered, is it time to revisit fusion and its unrivalled potential to change the way the world generates power? The [...]
BP profit plunges but oil giant beats expectations in Bob Dudley’s swansong February 4, 2020 Bob Dudley bowed out after a decade as BP’s chief executive today as the firm outperformed analyst expectations in the face of a challenging macroeconomic environment. Despite a 26 per cent fall in profit in the final quarter of 2019, the oil giant’s underlying replacement cost (RC) figure – BP’s definition of net income – [...]
Ofgem publishes new plan for net zero Britain February 3, 2020 Ofgem has today published a new plan to decarbonise the UK’s energy system in order to meet emissions targets by 2050. The “Decarbonisation Action Plan” sets out nine actions that the energy industry must put into practice in order to ensure that the UK’s energy networks can deliver net zero. Central to the plan is [...]
Top five investment risks for 2020: What they said at Davos and how they’ve changed in a decade January 24, 2020 As recently as ten years ago the environment didn’t register in the top risks for discussion at the World Economic Forum. Now it dominates. This has important implications for investors. This week the annual World Economic Forum (WEF) is taking place in Davos. Attendees include leaders from the worlds of politics and business who meet [...]
Oil prices jump and gold hits seven-year high amid heightened Middle East tensions January 6, 2020 Oil prices have continued to rise after US President Donald Trump threatened Iraq with sanctions if the country expels American troops. Gold also hit a seven-year high as investors seek shelter from mounting tensions in safe haven assets. Read more: Qasem Soleimani: Trump threatens Iraq with sanctions if US troops are expelled The precious metal [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]
Yü Group shares skyrocket on energy supply deal with Smartest December 16, 2019 Yü Group, the supplier of energy and utilities services to UK businesses, saw its share price rise by nearly 50 per cent today after it announced an energy supply arrangement with Smartest Energy. The hedging facility with Smartest will provide Yü with a credit line up to £13m, which will grow in line with the [...]
George Freeman: We can’t afford Corbyn December 12, 2019 Today voters will decide the future of our country not just for the next five years but for generations to come. The nightmare prospect of another hung parliament on Friday 13th that can only deliver more confusion, squabbling and delay is perilously close. The outcome of this election is too close to call — a [...]