Energy price war set to hot up as firms vow to cut switching times April 22, 2014 ENERGY companies have agreed to halve switching times by the end of the year, the government said yesterday, ramping up the pressure on the big six to lower their prices. The percentage of customers switching to smaller suppliers to find cheaper deals hit a record 43 per cent last month according to Energy UK, amid [...]
The cost of living crisis isn’t over – but Ed Miliband still won’t solve it April 21, 2014 PAY GROWTH at 1.7 per cent, inflation at 1.6 per cent on the consumer price index (CPI), real wages increasing. One commentator stated this was the coalition’s “mission accomplished” moment. People are starting to get better off after years of falling real wages, so the argument goes. Surely this is proof that the government’s “long-term [...]
Why Europe’s options for diversifying its energy supplies are strictly limited April 21, 2014 CONFLICT in Ukraine has added another major geopolitical risk for energy markets in 2014. Gazprom’s cancellation of gas price discounts in Ukraine at the start of April significantly raises the risk that Russia will use short-term gas supply cuts for political leverage. While a short-term disruption this spring or summer would have muted market impact [...]
The British productivity disease: How to cure it April 16, 2014 THIS week has brought more bright economic news – with falling inflation and unemployment paving the way for rising real wages. Yet while the UK is now the fastest growing developed economy, the productivity of its workforce languishes a fifth below the G7 average. What can be done to cure this British disease? US economist [...]
Crazed global investors have become gluttons for punishment April 10, 2014 CREDITORS are strange beasts: they appear to have virtually zero memory, to be gluttons for punishment and to embrace rewards for failure. There can be no other possible explanation for Greece’s astonishingly successful return to the bond markets yesterday – apart, that is, from the fact that there is clearly far too much cash burning [...]
UK Coal receives £10m state loan to close mines April 10, 2014 THE UK government said yesterday that it will give a £10m loan to UK Coal to help finance a managed closure of two of its mines over the next 18 months. “The taxpayer would face significant losses and liabilities in the event of an immediate insolvency of UK Coal, principally relating to redundancy and unpaid [...]
Scotland told independence will cut growth and hike energy bills April 8, 2014 SCOTLAND’S economy would take a severe blow if it left the UK, as trade and business are reduced, economists warned today. If the new border has the same impact on trade and business as the Ireland-Ulster border, David Comerford and Jose Rodriguez Mora will tell the Royal Economic Society that GDP will take a 5.5 [...]
Cement giants outline £25bn merger April 7, 2014 THE WORLD’S two largest cement companies yesterday confirmed their plans to merge, outlining £4bn of divestments in an attempt to assuage competition concerns. France’s Lafarge and Swiss firm Holcim unveiled a share-for-share deal, which would create a self-proclaimed “merger of equals” with sales of €32bn (£26.5bn) and core earnings of €6.5bn. Bruno Lafont, chairman and [...]
The real reason you should be depressed by political soundbites April 7, 2014 POLITICAL sound-bites can be excruciating. They hang around for a year or two before disappearing when they become untenable. Who can forget Labour’s “too far, too fast”, or the Conservatives’ “global race”? With just over a year to go before the general election, you’ll be depressed to hear the current offerings look entrenched. The Conservatives [...]
Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]