EU considers subsidies to industry to tackle crippling energy costs March 18, 2014 The European Union may provide state aid to 62 energy intensive industries to reduce the impact of adapting to renewable energy, according to a draft document seen by Bloomberg. The European Commission would reduce environmental taxes if the beneficiaries covered 20 per cent of the additional costs. The document is due to be adopted by [...]
Tory MoneySupermarket Budget is the best foil to Labour’s Wonga economics March 17, 2014 AHEAD of the last Budget before the 2015 election, Britain’s political battle lines are being carved out. Voters will be tempted by alternative menus combining less debt, higher spending and lower taxes. Since no party can credibly offer more than two of the three, the Conservatives’ best chance of winning is to demonstrate that trimming [...]
E.On warns on profit as power plants struggle March 12, 2014 GERMAN power giant E.On yesterday warned that profits could decline as much as one third this year, as its coal and gas plants continue to suffer due to the rise in renewable energy generation. The company, which owns one of the UK’s big six suppliers, expects earnings this year to be between €8bn (36.7bn) and [...]
Why the government will need to cut more “green crap” to save British industry March 11, 2014 The pressure for the government to cut more green levies is growing, ahead of next week’s Budget. Major trade bodies such as the Confederation of British Industry, the manufacturers’ organisation EEF and the Institute of Directors have already warned that charges such as the carbon price floor – that taxes fossil fuel emissions – are making [...]
Fallon boost to energy industry with tax cut hint March 10, 2014 GOVERNMENT minister Michael Fallon hinted at good news for the energy industry in the chancellor’s Budget next week, during a speech yesterday. The energy and business minister warned that green levies are still crippling the industry and keeping consumer’s bills high. In a bid to avoid job losses, Fallon said the government would look at [...]
Fancy a brew? Annabel Palmer talks craft beer with Draft House’s Charlie McVeigh March 10, 2014 Draft House founder Charlie McVeigh talks about the perils of the hospitality industry, and how he’s taking advantage of Britain’s real ale renaissance A CRAFT beer revolution has taken hold in Britain. Consumption of independently-brewed beer rose by 22.3m pints to 415m pints in 2012, according to the Society of Independent Brewers. And figures suggest [...]
How Ukraine’s unrest will affect prime London property prices March 4, 2014 World shares, particularly in banks, insurers, miners and energy stocks, have been hit as a result of the political tension and unrest in Ukraine. But what would be the cost of an economic fallout or any potential sanctions by the West against Russia have on the London property market? Joshua Raymond, chief market strategist of [...]
Putin defends Gazprom price hikes on Ukraine March 4, 2014 Russian President Vladimir Putin has defended a planned price rises for Ukraine by state-owned Russian energy giant Gazprom. Speaking to a press conference President Putin said: They failed to pay off the debt, I think it's $1.5bn as of today, and if they don't pay for February it's going to be $2bn. So if you [...]
A trade war with Russia would be Lehman Bros 2 March 3, 2014 MORALITY and foreign policy make uneasy bedfellows. In 1997, when Tony Blair called for an ethical foreign policy, the country cheered; 17 years later, any politician calling for such idealism would be laughed out of town. After 9/11, Afghanistan, Iraq, Georgia, the Arab Spring and so on, a battlehardened realism is the order of the [...]
Bottom Line: Three stocks that stand to lose big from the escalating market chaos March 3, 2014 1 BPTHE MOST exposed to Russia of the FTSE’s energy majors slumped 2.28 per cent yesterday despite a similar rise in the cost of brent crude. A hotly contested deal in 2012 saw BP take on a 19.75 per cent stake in Russian state-owned oil company Rosneft – whose shares dropped 4.1 per cent in [...]