Hinkley Point C: Prioritising the politically sexy over the economically rational is a waste of money July 29, 2016 The new nuclear plant at Hinkley Point, which has finally been approved by EDF’s board, will be the most expensive power station anywhere in the world. Beset by delays (first proposed in 2006, it was meant to come online in 2017), it won’t be operational until 2025 and EDF will still receive its enormous £30bn [...]
Tullow Oil share price rises as it unexpectedly swings to profit July 27, 2016 Tullow Oil shares closed up 2.82 per cent to 204.50p today, after the Africa-focused oil explorer’s first half results smashed expectations. The figures The FTSE 250-listed firm beat expectations for a $196m loss with a net profit of $30m (£23m), up from a loss of $68m last year. This Africa-focused oil explorer's pre-tax profit rose to $24m from a loss of $10m. Revenue fell [...]
Investing in infrastructure: As confidence in property crumbles, government-backed projects may offer stable, long-term returns July 14, 2016 The gold price is up, bond yields are down, and investors are asking themselves which asset classes can shield their wealth until the impact of Brexit becomes clearer. But amid the political and economic uncertainty, two facts are unlikely to change. First, the UK population is growing, and may reach 70m people by 2027 if [...]
Eurozone back in inflation for first time in five months June 30, 2016 Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]
Why British homeowners still aren’t buying into the idea of the home connected by smart tech June 29, 2016 Take any object in your home and you can guarantee that at some point a Silicon Valley startup has tried to create a web-enabled version of it. The ever expanding “Internet of Things” (IoT), as it’s clunkily termed, now includes almost every household item under the sun. Many are useful, such as thermostats, light bulbs, [...]
Brexit and the pound: How hard will battered sterling hit our economy? June 21, 2016 The pound has strengthened as the latest polls show public feeling has swung towards a remain vote this Thursday. Sterling rose 2.3 per cent to $1.4693, the biggest one day gain in over seven years. The last time it rose this sharply was 12 September 2008, days before Lehman Brothers filed for bankruptcy. “Three polls over [...]
Inflation rate still negative in Eurozone as ECB policies having muted effect May 31, 2016 The Eurozone remained locked in deflation in May 2016, according to flash estimates released this morning by Eurostat. Inflation, on the harmonised index of consumer prices (HICP) across the 19-member single currency union came in at minus 0.1 per cent, up slightly from minus 0.2 per cent in April. The main index was dragged down by [...]
EU referendum: Business secretary Sajid Javid to say small businesses rely on trade with EU May 31, 2016 Business secretary Sajid Javid is to argue small and medium-sized businesses benefit from EU membership – amid rising tension between Remain and Leave on the economy. Javid will cite new figures which show 1.2m small firms export to Europe or supply firms that export to Europe, demonstrating the importance of free trade with the bloc. On a [...]
Hinkley Point dealt fresh blow after French trade unions continue to oppose it May 27, 2016 EDF's plans to build the Hinkley Point C nuclear power station in Somerset were dealt a fresh blow last night, after a key French union continued to oppose it. The central works committee said it wouldn't back the project until EDF provides more information. It had previously called for a two to three-year delay amid [...]
Shell cuts 2,200 more jobs after its takeover of BG Group May 25, 2016 Royal Dutch Shell said today that it will cut an additional 2,200 jobs due to low oil prices and in the wake of its £35bn takeover of BG Group. This takes the total job cuts resulting from the integration of its smaller rival to at least 5,000 globally, including 475 job losses in the UK. Shell recently reduced its 2016 spending [...]