Energy group Wood to sell nuclear arm for £250m August 20, 2019 British energy services firm Wood is to sell its nuclear business for about £250m ($301m) to a subsidiary of US company Jacobs in a drive to reduce its debt. Read more: EDF seeks guarantee for nuclear project The firm made the announcement as it released its half-year results, which showed a rise in pre-tax profit [...]
US inflation picks up amid presidential pressure for rate cuts August 13, 2019 US inflation picked up in July as the cost of gasoline and housing rose, raising the possibility the Federal Reserve will hold back from rate cuts in the near future. Read more: Fed cuts interest rates for first time in ten years The US consumer price index (CPI) picked up to 1.8 per cent from [...]
Sterling spirals to near $1.20 as UK economy comes close to recession August 9, 2019 Sterling has tumbled to fresh two-year lows after official figures showed Britain’s economy contracted in the second quarter, raising fears of a recession and adding to no-deal Brexit worries. Read more: Sterling to tumble further as no-deal Brexit worries intensify The pound had fallen 0.6 per cent against the dollar by 1.45pm to buy $1.207, [...]
Why we’re at a tipping point for clean energy July 29, 2019 Alternative energy sources to fossil fuels have been around for many years. Wind, solar and tidal power have all been harnessed to a greater or lesser extent by numerous countries around the world. But we think that the transition to renewable energy is set to pick up speed rapidly and there are three reasons why. [...]
The next moon landings will spur giant leaps here on Earth July 18, 2019 This week, we celebrate 50 years since Apollo 11’s first landing of humans on the moon – one of humanity’s greatest achievements. The technologies born of the Apollo missions shaped life on Earth in more ways than we often recognise through inventions we use every day. This anniversary is about more than where we’ve been [...]
Tepid Eurozone inflation stays well below ECB target July 17, 2019 Eurozone inflation rose to 1.3 per cent in the year to the end of June, official figures showed today, but was still well off the European Central Bank’s (ECB) two per cent target. Read more: Eurozone retail sales see surprise fall in May The weak rise in prices will bolster market expectations that the ECB [...]
BHP iron production rebounds after cyclone hit third quarter July 17, 2019 Anglo-Australian miner BHP saw iron ore output rebound in the fourth quarter of the year, and forecast even higher production going forward. Iron ore production hit 63m tonnes in the three months to June, a 12 per cent increase on the quarter before. Read more: Rio Tinto faces delays and up to $1.9bn added costs [...]
Real wages rise as UK inflation stays at two per cent July 17, 2019 The prices in UK shops rose by two per cent in the 12 months to the end of June, official figures have revealed, with clothing and food costs rising most rapidly in the last year. Read more: UK unemployment stays at 45-year low as wages tick up The two per cent consumer price index (CPI) [...]
Mike Coupe is yet to convince the City that he has a Plan B for Sainsbury’s July 3, 2019 It has been several months since the Mike Coupe dream of a merger with Asda was dealt a lethal blow from Britain’s competition watchdog. But how much has the embattled chief executive changed his tune? Not enough, it would seem, to quell anxiety among investors. Shares in the supermarket giant failed to pick up today [...]
Wood Group boosts first-half profit as it looks to cut debt pile June 26, 2019 Energy services firm Wood Group has reported profit growth in the first half of the year, thanks to an improvement in its margins. The FTSE 250 firm said revenue for the six months to the end of June was in line with the previous year. Read more: Wood Group wins $1bn nuclear contract at Sellafield [...]