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 [...]
Citizens assemblies are no solution to the climate challenge — we need innovation February 26, 2020 At first sight, long-term swings in individual seats in Australian elections are a definite niche interest, one for the real trainspotter. But during a visit to Sydney University’s Complex Systems Institute, I noticed a fascinating piece in The Australian newspaper. The Australian Labor Party had a good result in the 2007 federal elections, and a [...]
Broadband customers set to save up to £150 under new Ofcom rules February 14, 2020 New Ofcom rules set to come into effect from tomorrow could save millions of customers up to £150 each, or a collective £1bn a year, on the cost of landline, broadband, TV and mobile packages. The broadcasting and telecoms regulator is set to enforce rules that require companies to offer customers the best deals available [...]
Bittersweet farewell for Tidjane Thiam as Credit Suisse profits soar February 13, 2020 Credit Suisse has reported its highest annual profits in almost a decade, just days after chief executive Tidjane Thiam was ousted in the wake of a lurid spying scandal that erupted last year. The figures Credit Suisse’s pre-tax profit rose 40 per cent to 4.7bn Swiss francs (£3.7bn) for 2019, the highest figure since 2010. [...]
British Gas owner Centrica falls to £1.1bn loss as price cap bites February 13, 2020 British Gas owner Centrica reported a £1.1bn loss before tax today as the utilities giant suffered from the implementation of new energy tariff cap for UK households and lower commodities prices. Shares in the firm plunged 17 per cent as the firm swung from profit of £575m in 2018. The figures Having posted statutory profit [...]