Investors: fracking will cut bills January 6, 2014 MOST FUND managers believe fracking will lower energy bills and transform the global power market, according to a survey out yesterday. Hydraulic fracturing, which uses high-pressure water to extract shale gas that cannot be reached using traditional tools, has come under fire after it caused small tremors in Blackpool in 2011. The method is currently [...]
The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
Global Politics: India and Mexico will rise as Europe dies but the US will reinvent itself once again January 5, 2014 I HAVE long strongly advocated a modest proposal for my clients regarding global political risk: judge analysts as you would a plumber. If we do a good job, rehire us. If not, show us the door. For only by assessing real world outcomes can clients separate snake oil salesmen from the real thing. As I [...]
Here’s why 2014 could be a great year for the US December 16, 2013 The US economy is transitioning to faster growth and higher interest rates, according to a research note by Deutsche Bank. Joseph LaVorgna, Chief US Economist said: We expect monetary policymakers to soon transition to a slower pace of monetary accommodation. This implies that over the next year, long-term interest rates are poised to rise significantly [...]
Here’s how we’re changing our spending habits in post-crisis Britain December 11, 2013 (ONS) Latest figures from the Office for National Statistics (ONS) show that households spent an average £489 per week last year. They also show where we scrimped and splurged compared to pre-recession 2006, when average spend was £526.40. (All 2006 and other pre-2012 figures are adjusted for inflation.) Here are some interesting changes: Housing, fuel, [...]
What the other papers say this morning – 11 December 2013 December 10, 2013 FINANCIAL TIMES First Group attacked by US activist FirstGroup, the UK bus and rail operator, is under attack from one of its biggest shareholders, which has called for the sale of its US businesses to pay down debt. Sandell Asset Management, a hedge fund with a stake of about three per cent, has written to [...]
Energy supplier switching hits three-year high December 9, 2013 THE NUMBER of people switching energy supplier hit a three-year high last month, according to new data released yesterday. The number of people switching suppliers in November rose above 614,000, almost double the 356,952 figure from November last year, said the research from Electralink, commissioned by industry body Energy UK. 125,000 of the people who [...]
OECD warns Labour price freeze could see lights go out December 9, 2013 The secretary-general of the OECD, Angel Gurria has warned that the Labour party's planned energy price freeze could bankrupt energy investors leading to chaos in Britain's energy market. Speaking to BBC's Panaroma due to broadcast on Monday night, he said: If you freeze the price of energy and the international price of energy rises, it [...]
If you really care about the environment you should love fracking. Here’s why December 9, 2013 A report released on Friday by the Centre for Policy Studies (CPS) has found that increasing use of shale gas can massively reduce some of the world’s deadliest air pollution. As well as slashing carbon emissions and providing enticing economic prospects the findings of the report should present a compelling case for those who value [...]
Erratic and arbitrary UK renewable subsidies are likely to end in failure December 8, 2013 WITH Centrica threatening to pull the plug on a £2bn offshore wind farm if the government did not increase already exorbitant subsidies, ministers agreed to do just that. Yesterday, they announced they would slow the planned reduction in the guaranteed strike price for offshore wind by adding £5 to the subsidy – to £140 per [...]