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 [...]
Complaints about energy companies more than double in the last six months July 14, 2014 The volume of complaints about energy companies has reached a record high in the first six months of 2014, according to the independent ombudsman. Complaints in the period to July this year have already surpassed that of the entire of 2013, with customers especially unhappy with their bills and the way transfers have been handled. [...]
MPs blast lack of urgency on energy policy July 1, 2014 THE GOVERNMENT’S convoluted energy policies are deterring much-needed infrastructure investment, a committee of MPs warned yesterday. “We are concerned that the complexity and changing nature of the policy landscape affecting infrastructure investment, particularly in the energy sector, may be causing investors to hold back from making investment decisions,” said a report by the Public Accounts [...]
Sterling jumps to 2008 high on industrial surge July 1, 2014 THE POUND climbed to a fresh high yesterday, rising to its strongest level against the dollar for five and a half years, as a bullish report from manufacturing firms suggested that the recovery was steaming ahead. Sterling pushed to around $1.716 during the day. The latest survey of UK industrial companies by Markit and the [...]
There is a problem in the UK’s energy market – but it’s the regulator’s fault July 1, 2014 OFGEM has referred the retail energy market for investigation by the Competition and Markets Authority (CMA). This is the right decision, for the wrong reasons. Most of Ofgem’s concerns are insubstantial. The real source of the problem is Ofgem’s policy, described in its annual report issued the same day as “Simpler, clearer, fairer. Three words [...]
Tata steelworks cuts 400 jobs due to “uncompetitive” energy costs July 1, 2014 The Tata steelworks in Port Talbot is set to shed 400 jobs, with chief executive Karl Koehler saying the moves were necessary for the company to remain competitive. High business rates and rising energy costs were cited as reasons for the job losses. "Steel demand and prices are likely to be under pressure for some [...]