Shell takes $800m hit on oil price collapse March 31, 2020 Oil giant Shell will write down up to $800m (£648.8m) in impairment charges in the first quarter of 2020 due to the global collapse in oil prices, the Anglo-Dutch firm warned today. The combination of plummeting demand for fuel due to the coronavirus pandemic and a production war between Saudi Arabia and Russia has sent [...]
How small businesses can do big things for sustainability March 30, 2020 With the green agenda more important than ever, businesses are under pressure to ensure they are both environmentally and economically sustainable. The 26th UN Climate Change Conference (COP26) is on the horizon and attention is focused on how businesses will play their part to tackle climate change. Many big corporations have big budgets for green [...]
A more sustainable capitalism will emerge from Covid-19 March 30, 2020 The main concern that is paralysing the financial markets right now is uncertainty. Investors and the business community are questioning how long this crisis will last, and when consumer and investor confidence will return, with no end in sight. But while none of us can predict the future, when it does return, one possible outcome [...]
Storage space issues could force oil prices down to $10 March 25, 2020 Oil prices could hit $10 per barrel as storage facilities across the world run out of space amid a coronavirus-inspired price war, it is reported. Worldwide oil storage has reached three quarters of capacity, it was reported today, after Saudi Arabia flooded the market with cheap oil to hurt its rival, Russia. Canada, a key [...]
Seize the opportunities of carbon capture technology March 23, 2020 Right now, the government’s only focus is getting the country through the current coronavirus pandemic. But once we are through the worst, we will turn once again to tackling another global crisis: climate change. That the government claims to take the climate crisis seriously is impossible to deny. The 2050 target for carbon neutrality is [...]
Cost of living falls in European cities March 18, 2020 European cities are becoming cheaper to live in, according to data released today. The numbers from the Economist Intelligence Unit show Paris is no longer the world’s most expensive city. Osaka, Singapore and Hong Kong jointly hold the top spot with Paris falling to fifth, behind New York. Nicholas Fitzroy, The EIU’s risk briefing director [...]
More than $600bn could be wasted in coal power generation at expense of renewables, says report March 12, 2020 An estimated $638bn (£489bn) could be wasted world wide on using coal to generate electricity. That’s according to a report released today which advises international governments to stop using coal as soon as possible. The report by think tank Carbon Tracker Initiative says in all major electricity markets, renewables are either cheaper than new coal [...]
Asda cuts fuel prices after oil price spirals on coronavirus March 10, 2020 Supermarket Asda has cut the price of petrol and diesel amid the Russia-Saudi Arabia oil war. The supermarket has cut its price by 2p per litre (ppl), meaning petrol will cost 114.7p per litre and diesel will cost 116.7p per litre. Asda said they are its lowest fuel prices since November 2017. “It will be [...]
Nokia replaces chief executive as 5G strategy fails to win over investors March 2, 2020 Nokia today announced plans to replace its chief executive as the Finnish telecoms firm battles escalating 5G costs and fierce competition from rivals. Rajeev Suri will step down as president and chief executive after more than a decade in the role, and will be replaced by Pekka Lundmark. Lundmark, who currently leads Finnish energy company [...]
Whitehall looks to clamp down on business grant fraud March 1, 2020 Whitehall is planning a review into how business grants are awarded to combat fraudulent claims. The review is set to look at the way grants funding is awarded and the rising instances of “grant fraud”, which some estimate to be worth in excess of £2bn. The Department for Business, Energy and Industrial Strategy (BEIS) has [...]