National Grid profit pulled down as price controls helps energy consumers save May 21, 2015 The figures National Grid suffered a four per cent drop in pre-tax profits to £2.6bn, during a year in which it benefited from a new operating model and new business activities. The firm's share price remained relatively flat this morning, after energy regulator Ofgem announced it was launching an investigation to see if generators provided it [...]
Why now is the time for energy policy to champion consumers May 18, 2015 The election of a Conservative government has led to a big change in personnel at the Department of Energy and Climate Change (DECC) – one of the few Liberal Democrat run departments in the previous Parliament. Now, this fresh team has an opportunity to get a grip on the many challenges facing the UK’s energy [...]
Wax models and 3i help FTSE beat commodity pain – London Report May 14, 2015 THE FTSE 100 index ended higher yesterday with encouraging updates from companies such as 3i Group supporting the broader stock market. Private-equity group 3i rose three per cent, the biggest gain in the FTSE 100, after it reached the end of a three-year restructuring with strong earnings growth at its portfolio companies. “The group remains cautious [...]
Bank of England inflation report: UK growth expectations cut May 13, 2015 The Bank of England today slashed forecasts for how much its expects the economy will grow this year to 2.5 per cent, down from 2.9 per cent. Threadneedle Street also said it expects interest rates to remain close to historical lows for the foreseeable future, before rising some time in the second quarter of 2016. [...]
Europe and China worries push US lower – New York Report May 11, 2015 Wall closed down yesterday, as investors fretted about Greece’s precarious financial condition and slowing growth in China, while energy stocks fell on weaker oil prices. US stocks, which rallied Friday on a strong jobs report, have been trading at historically expensive valuations, fuelled by ultra-low borrowing costs. Investors took a pessimistic view of Europe, as [...]
Labour must ditch tribalism to reclaim London’s suburbs May 11, 2015 There is no getting away from it: last Thursday’s result was a crushing defeat for the Labour Party. This new era requires a new generation of leaders, who must have a vision that appeals across political and geographical divides, and the ability to reach beyond Labour’s core base. Those who turned away from Labour need [...]
Lord Mayor Alan Yarrow wants to start the City talking about empowering disabled workers May 10, 2015 Almost halfway through his mayoralty, despite the rigours of constant travel, Alan Yarrow is buzzing with energy. The former Kleinwort Benson veteran, and chairman of the Chartered Institute for Securities & Investment (CISI), clearly relishes the novel experience of swapping the cut and thrust of the workplace for his apolitical role representing the City’s interests. [...]
General Election 2015: Shares, bonds and the pound all end higher after shock Tory win May 8, 2015 Shares, bonds and the pound all rallied today after the Tories swept to a shock win in the General Election, sparing investors from the inevitable uncertainty which would have come with a round of coalition negotiations. The FTSE 100 closed up by 2.2 per cent at 7,035 points this afternoon as the Tory party prepared [...]
UBS’ investment bank roars back with deal successes and soaring profits May 5, 2015 If you believe everything US investment bankers tell you, it is only a matter of time before a handful of American giants rule the world, and Europe’s challengers crumble into the dust. You can see why they are so confident, with Britain splitting its would-be universal banks with a ring-fence, and a series of [...]
Election jitters, HSBC and US losses hit FTSE – London Report May 5, 2015 BRITAIN’S top share index closed lower yesterday, tracking sharp losses in the US market, with HSBC leading the banking sector lower, after saying that a bank levy was hampering its ability to pay a higher dividend. A survey showing growth in the construction industry slowed sharply in April, while uncertainty about the outcome of tomorrow’s [...]