The trends the world’s top firms are cheering March 15, 2017 Corporate fundamentals are now seen to be improving – in all regions and sectors. After three years of deteriorating sentiment, our annual Analyst Survey, encompassing the views of 146 equity and fixed-income analysts, has found there’s much more confidence among the world’s largest companies. Demand growth is back, and we find signs of reflation, rather [...]
SSE is hiking electricity prices as energy firm follows Npower, EDF, Eon and Scottish Power March 13, 2017 Customers of SSE can expect a rise in their electricity bill as the energy company announces its first price rise in three years. A rise of 14.9 per cent will kick in from 28 April due to the increasing price of wholesale electricity across the market. On average, it expects customers' electric bills on a [...]
Competition, not price caps, is the solution to lowering Britain’s energy bills March 10, 2017 Recent weeks have seen the cost of energy bills climbing up the news and political agenda, as suppliers large and small have imposed eye-watering hikes to their standard variable tariffs. To date, four of the Big Six (EDF, E.On, Scottish Power and Npower) and several smaller suppliers have announced rises of up to 15 per [...]
The International Energy Agency says it is inevitable that oil prices will see a massive increase March 8, 2017 Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a new report from the International Energy Agency. When oil prices collapsed in 2014, oil producers quickly took an axe to their spending. Global oil and [...]
E.On hikes dual fuel energy prices by £97 – and the government says it’s “prepared to act” March 7, 2017 E.On is hiking its energy prices because of increasing costs to social and environmental schemes – and ministers have responded with a word of warning to the industry. The Germany-based company said prices for dual fuel customers will rise 8.8 per cent from 26 April, affecting 62 per cent of customers, or 2.5m people. "Wherever markets are not [...]
The BCC is demanding action over mounting business rate concerns March 6, 2017 Almost 40 per cent of UK firms are more concerned about business rates than three months ago, according to new research. Figures from the British Chambers of Commerce show that business rates (39 per cent) were second only to exchange rates (42 per cent) in the number of firms reporting increased worries. And among small [...]
A pensions Green deal that needs energy to understand March 3, 2017 The Green deal: a government-sponsored scheme eventually discarded after failing to adequately explain its benefits and providing poor value to participants. I’m referring, of course, to a Tory-Lib Dem coalition energy-efficiency programme, but is it a description which applies equally well to Sir Philip Green’s £363m settlement with regulators over the pension crisis at BHS? On [...]
Higher energy prices drive Eurozone inflation to hit two per cent for the first time in four years March 2, 2017 Eurozone inflation hit two per cent in February, beating the European Central Bank (ECB)’s target for the first time since January 2013. The year-on-year rate of inflation rose from 1.8 per cent in January according to flash estimates from the European Commission. The sharp rise over the months since November has mainly been driven by the [...]
Ofgem is proposing to reduce energy costs by cutting subsidies for small-scale power generators March 1, 2017 Ofgem is proposing plans to help consumers save up to £7bn by 2034 by cutting subsidies to some small-scale power generators that provide back-up energy during peak demand. The UK's energy watchdog said the proposals will cut about £20 per household per year as the costs are included in network charges on consumers' bills. It said the changes will make the energy system [...]
Terra Firma boss Guy Hands on buying Agent Provocateur, dyslexia and moving on from multi-million EMI loss February 27, 2017 In June last year, Terra Firma dropped a £1.5bn lawsuit against Citi over the acquisition of EMI. It is reported that Guy took a €200m (£168m) hit to his personal fortune as a result of the deal. The Terra Firma boss alleged that Citi misled him into overpaying for the music publisher in 2007. How’s [...]