RBS and other UK banks facing first quarter earnings woe after US lenders posted a sharp drop in profit April 25, 2016 British banks are set to post first quarter profits this week that are weighed down by the rising risk of Brexit, bad debt, and poor investment banking performance. The difficult period has already dragged down profits at some the biggest US banks, though they largely managed to beat low estimates. Citibank, Goldman Sachs, Bank of [...]
Beware: Your energy bill could rise by £152 at the end of April if you don’t switch supplier April 18, 2016 Households will be hit with a £152 increase to their annual energy bills at the end of the month unless they switch providers, as several fixed tariffs come to an end. Of the 17 fixed deals that expire on Saturday 30 April, 11 will result in customers being automatically switched to a more expensive standard variable [...]
Week ahead: Economic data and miners set to drive FTSE April 18, 2016 Investors will be wading through economic data this week, with the March unemployment report out on Wednesday and the latest retail sales and public finance figures due Thursday. On Friday the FTSE 100 index was down 21.35 points, or 0.3 per cent, at 6,343.75 points by the close, broadly in line with the European market. [...]
Global shale gas market expected to hit $214bn by 2022 April 13, 2016 The world's shale gas market could swell to $214bn (£150.2) in just a few years time. This would come as global shale gas grows at an annual compound rate of 14.4 per cent from 2015 to 2022, according to the report by Allied Market Research. Similarly, the world's thirst for shale gas is expected to increase at an annual [...]
Greybull or grey clouds? Why these are temporary solutions to structural problems in UK steel April 12, 2016 Tata Steel's decision to sell the firm's UK steel assets follows the wider divestment and mothballing trend playing out in the country's steel sector. Most recently, Tata Steel put the firm's Port Talbot and Scunthorpe mills up for sale, following a suit of competitors in the UK market, such as Sahaviriya Steel Industries and Caparo. [...]
Steel crisis: Four things that could happen to Tata steelworks next March 31, 2016 The government has been forced to hold a crisis meeting, while dissatisfaction among unions, business groups and the opposition continues to rise. With thousands of British jobs at stake, what could happen to Tata's embattled UK business? Full or partial sale In an ideal world, Tata would be able to find a buyer for its stricken [...]
Cash-strapped EDF reportedly facing £2bn rise in Hinkley Point C costs March 31, 2016 Cash-strapped EDF could have to find an additional £2bn to build the Hinkley Point C nuclear power plant. There's rising pressure at the French utility giant over whether its already strained balance sheet will be able to shoulder the hugely expensive project. An independent report regarding the controversial project seen by the Times claims the updated cost could be as high [...]
Eurozone trapped by deflation in March, but there could be signs of life on the horizon March 31, 2016 The Eurozone could not shake-off its deflationary funk in March as prices fell for a second consecutive month according to official numbers out this morning. Inflation, as measured by the "harmonised index of consumer prices" (HICP), was down by 0.1 per cent on the year, with tumbling energy prices dragging down the cost of goods for [...]
Industry veteran John Spiers of EQ Investors talks Brexit, robo-advice and the future of investment March 31, 2016 For industry veteran John Spiers, successful investment is like cooking a gourmet dinner. “Even if you take the effort and go down to Borough Market and buy some really good ingredients, unless you select them in the context of the other ones, you could end up with a very unpleasant meal.” And this, he says, [...]
Think tank slams government policy to avoid future blackouts March 31, 2016 A leading think tank has slammed the government’s policy to avoid future blackouts as “not fit for purpose”, in a report released today. The IPPR said despite awarding £2.8bn in subsidies to power companies, the government’s “capacity market” scheme is failing to meet its own objectives. It comes amid rising concern Britain isn't building enough new [...]