Statoil finds natural gas but no oil in the Arctic Ice Crystal well September 23, 2013 NORWEGIAN energy explorer Statoil found only natural gas and no oil at the Ice Crystal prospect in the Arctic Barents Sea, the company and the Norwegian Petroleum Directorate said yesterday. “Our main goal was to find oil… but unfortunately it did not materialise,” said Gro Haatvedt, senior vice president for exploration in Norway. “We still [...]
Turning up the heat: Former trader taking on the Big Six September 22, 2013 Annabel Palmer talks tariffs and talent with Stephen Fitzpatrick, who switched the City for the Cotswolds to found energy company Ovo EXPERTS are predicting another gloomy winter for Britain, with power firms expected to raise tariffs in November and December by up to 10 per cent – pushing annual average bills to over £1,500 for [...]
Lib Dem lines to take for interviews – in full September 19, 2013 The Lib Dems appear to have given journalists their full lines to take for every interview: Five things to remember for every interview This conference sees the party in a confident mood We have a strong record of achievement in Government Our priorities are jobs and easing the squeeze on household budgets Labour cannot be [...]
Surprise £118m dividend cheers Smiths investors September 18, 2013 ENGINEERING firm Smiths’ shares were one of the FTSE 100’s top risers yesterday after it unveiled a special dividend for shareholders alongside full-year results in line with expectations. The unanticipated dividend of 30p, worth £118m in total, drove the shares 2.6 per cent higher to close at 1,412p. Smiths also announced a restructuring programme that [...]
Stable inflation fuels taper talk in the States September 17, 2013 INFLATION readings in the US barely rose in August, but gains in rents and medical care costs pointed to a stabilisation in underlying inflation that could allow the Federal Reserve to start trimming its bond purchases. The Labor Department said yesterday its consumer price index (CPI) edged up 0.1 per cent last month after rising [...]
US inflation pressures ease in August with Fed unlikely to postpone tapering September 17, 2013 The US consumer price index (CPI) has climbed just 0.1 per cent month-on-month following predictions to stay flat at 0.2 per cent. The year-on-year figure for August is 1.5 per cent, down from 1.6 per cent inflation in the year to July. A breakdown of components, month-on-month: Food: 0.1 per cent Housing: 0.1 per cent [...]
Lib Dem lines to take for interviews – in full September 16, 2013 The Lib Dems appear to have given journalists their full lines to take for every interview: Five things to remember for every interview This conference sees the party in a confident mood We have a strong record of achievement in Government Our priorities are jobs and easing the squeeze on household budgets Labour cannot be [...]
Why messing with pay is not the best way to end living cost squeeze September 4, 2013 UNEMPLOYMENT and underemployment in the UK are still far too high. But given the circumstances, the UK’s labour market is in a far better shape than we might have expected. In much of Europe, five years of stagnation have sent jobless figures through the roof. Yet the UK got away with a black eye. A [...]
London Report: Syria weighs on FTSE amid oil trade scramble August 28, 2013 THE UK’S top share index fell yesterday, pressured by the risks of possible Western military action against Syria, but with energy stocks supporting the market after an oil price spike. The FTSE 100 was down 10.91 points, or 0.2 per cent, at 6,430.06 points at the close as the United States and its allies appeared [...]
E.ON warns there is “no recovery in sight” as earnings fall August 13, 2013 German energy giant E.ON has warned the coming years will be “demanding” as first half earnings fell 15 per cent to €5.7bn (£3.7bn) on the back of bad and worsening business conditions. Chief executive Johannes Teyssen said that low capacity utilisation and wholesale power prices were hitting the generational and gas storage businesses. These adverse [...]