Brussels blamed for driving up energy prices for UK factories August 12, 2014 European regulation has driven up the cost of energy to British companies, and the country’s manufacturing firms are less positive about current EU membership than previously suggested, according to a report released this morning. Research by Business for Britain, which advocates a renegotiated relationship with the EU, the single market’s regulations have driven up the [...]
Brent crude and petrol prices fall as oversupply offsets global risks August 6, 2014 The price of brent crude hovered around a nine-month low yesterday, with plentiful supplies offsetting concerns of geopolitical risk in key oil producing countries. The industry benchmark fell below $105 (£62) a barrel due to oversupply, weak seasonal demand and the possibility of a deal between Russia and Iran, which would put more oil on [...]
Inflation slips to lowest since 2009 for Eurozone July 31, 2014 Inflation weakened even further in the Eurozone during July, dropping to just 0.4 per cent, the lowest level since the aftermath of the financial crisis. The consumer price index (CPI) has been growing increasingly slowly since the middle of 2012, and was last above the European Central Bank (ECB) target level of two per cent [...]
Britain’s fossil fuel subsidies: Soon it won’t just be renewables we’re propping up July 31, 2014 THERE is no doubt that fossil fuel subsidies – mostly found in the developing world – are a major and unwelcome feature of the global economy today. The International Energy Agency (IEA) estimates that global fossil fuel subsidies cost $544bn in 2012. Add to this lost tax revenues and the figure rises to around $2 [...]
14 plans for London transport by 2050: From 24/7 Tube to Crossrail 3 July 31, 2014 London Mayor Boris Johnson has said £1.3tn of investment is needed in the capital over the next 35 years in order for London to retain its world class status. Transport is the biggest focus of the "London Infrastructure Plan 2050", and £973tn of spending is needed on transport alone to keep up with the rising population [...]
London 2050: Devolve powers to the capital to tackle its £1.3 trillion infrastructure challenge July 30, 2014 IN THE next few months, a record will be broken: London’s population will rise above 8.6m, the highest since records began. And the capital’s phenomenal growth isn’t expected to slow any time soon. According to projections by the Greater London Authority, the city’s population could increase to 11m by 2050. But for all London’s current [...]
BP’s Iain Conn in talks to take Centrica top job July 24, 2014 CENTRICA finally confirmed yesterday that it was in talks with BP’s Iain Conn over the possibility of him taking over the top role from Sam Laidlaw. Oil major BP announced yesterday afternoon that Conn was stepping down by the end of the year after almost three decades at the company, prompting a statement from the [...]
There will be more Putins – and more Flight MH17s – if Europe fails to act now July 21, 2014 “Pay no attention to that man behind the curtain” – The Wizard in L Frank Baum’s The Wizard of Oz In her able, forthright way, Hillary Clinton has just painfully called Europe’s bluff. Speaking just after the horrific details of the Malaysian plane disaster became clear – where it looks increasingly likely that murderously clueless [...]
Severn Trent expects to ramp up dividend as operating costs rise July 16, 2014 Severn Trent yesterday said that it was trading in line with expectations and planned to raise its dividend by 5.6 per cent this year, although its operating costs were set to rise due to inflation, taxes and higher energy spending. Despite speculation that there would be fierce shareholder opposition at yesterday’s annual general meeting – [...]
TT Electronics buys Roxspur July 14, 2014 TT ELECTRONICS yesterday revealed that it has snapped up Roxspur Measurement & Control for an initial fee of £7.5m. The cost of the deal could rise to £10m, dependent on a further £2.5m payable in 2016 based on performance of the business. Sheffield-based Roxspur, which makes hi-tech sensors, has companies such as Tata, Rolls Royce [...]