Deals from energy providers are rising as Britain’s cheapest rate has gone up £100 in six months January 26, 2017 The cheapest energy deal on the market has risen £100 – 14 per cent – in just six months, new data suggests. An analysis of the market showed the cheapest deal in July 2016 was Iresa's Flex 1 tariff, costing £734 per year. Now, the best deal is Iresa's Flex 4 tariff, which costs £834 per year, found [...]
Oil production is set to outpace demand while overall global energy demand increases into 2035 January 25, 2017 Global energy demand is set to rise by 2035, but oil prices are likely to remain low while production increases faster than demand. In the next 20 years, energy demand will increase around 30 per cent across the globe, although it will be offset by rapid gains in energy efficiency, according to an analysis of long-term energy trends. BP's annual Energy [...]
Deep sea oil exploration dips to a new low January 19, 2017 Oil exploration has sunk to a level not seen since the 1940's according to the energy consultant, Rystad. Discoveries offshore fell 90 per cent since 2010 when oil was still in its $70 (£57) range. In minimising costs, the oil and gas industry has played it smart and cut investment in exploration, where it would [...]
Opec output cuts are in a “probation period” as the market tightens, IEA says January 19, 2017 Demand for oil is rising while investors await news of whether Opec's agreed production cuts will take shape, the International Energy Agency (IEA) has said. A report today by the IEA said the cuts agreed on by the Organisation of the Petroleum Exporting Countries (Opec) and 11 non-Opec producers are in a "probation period" as the market tightens. Opec said it would cut oil [...]
Last hurrah for North Sea oil expected this year according to Wood Mackenzie January 18, 2017 North Sea oil production will peak this year before falling back in 2018, according to a new report by Wood Mackenzie, a global energy consultant. This is because of a lack of investment and exploration, the analysts say. In 2017 British oil production will rise for the third straight year, but analysts say this is the peak. [...]
The nightmarish state of the public finances makes NHS reform even more urgent January 18, 2017 While Westminster was awaiting the first lines of Theresa May’s Brexit speech yesterday morning, the government’s fiscal watchdog issued a devastating judgement on the long-term health of the country’s finances. According to the Office for Budget Responsibility (OBR), the accelerating cost of the NHS will double the national debt relative to GDP by the middle [...]
We should all be concerned by Britain’s anxious, insecure young people January 9, 2017 "It was the best of times, it was the worst of times” is the opening line of Charles Dickens’s novel A Tale of Two Cities, published in 1859. While the words were written over 150 years ago, I cannot think of a better phrase to encapsulate the situation facing young people in London and the rest [...]
Equity crowdfunding’s leading founders predict what’s in store for the sector in 2017 January 5, 2017 Equity crowdfunding will look even more grown up by Christmas 2017. More regulation is coming to the sector: the Financial Conduct Authority (FCA) has said it’ll consult this year on new rules, in a bid to improve protection for retail investors and increase transparency around financial promotions. Read more: The FCA is cracking down on [...]
Next’s shares tumble after company issues profit warning January 4, 2017 Next's shares have taken a hammering today after the retailer issued a profit warning. The retailer cut its profit forecast for 2017-18 to a range of £680m-£780m. Analysts had estimated the forecast would be £784m. Following the announcement, Next's share price tumbled by 12 per cent. Next's shares have now fallen nearly 50 per cent since [...]
Boost for ECB as Eurozone inflation reaches highest point since 2013 January 4, 2017 Eurozone inflation rose to its highest point since 2013 as higher oil prices fed through to the big increase, in welcome news for efforts by the European Central Bank (ECB) to boost Europe's economy. The annual rate of inflation rose to 1.1 per cent in December, according to flash estimates from the European Commission, almost [...]