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 [...]
Household bills jumped almost £200 in 2016 as fall in sterling and added taxes took their toll January 2, 2017 Household bills leapt around 10 per cent last year, costing Britons almost £200 more than in 2015, according to price comparison site Compare the Market. The combined cost of energy, motor and home insurance rose to £2,223 in 2016, compared to £2,032 the year before. Sharp hikes were registered in motor and household energy premiums, [...]
This French energy giant thinks oil could be at $10 a barrel by 2025 December 21, 2016 Oil prices could fall to as low as $10 per barrel within a decade as a 'tsunami' of threats could undo demand. That prediction comes from Engie SA’s innovation chief, Thierry Lepercq, who says that oil demand will be hit on multiple fronts. He lays out five 'tsunamis': solar power, battery storage, electric vehicles, “smart” [...]
Fracking: Reactions to High Court giving Third Energy the go-ahead to frack in Yorkshire December 20, 2016 Anti-fracking campaigners lost a legal bid to halt fracking in Yorkshire today, after the High Court gave a green light to developer Third Energy. The energy firm started the application process for a shale gas fracking permit in 2014, which was granted by North Yorkshire County Council in May this year. Here are some of [...]