Centrica pulls out of UK new nuclear plans February 4, 2013 BRITISH GAS owner Centrica yesterday pulled out of plans to build up to four new nuclear power stations in collaboration with EDF, blaming rising costs and the construction timetable slipping. Centrica has spent around £200m on the project, which will be written off in this year’s results. EDF is in discussions with a number of [...]
Unilever boosts FTSE 100 as it edges towards 6,200 January 23, 2013 The leading share index edged up towards the 6,200 level this morning, led by consumer goods group Unilever. The stock was the strongest riser on the FTSE 100 this morning, on the back of a buoyant trading statement. Turnover jumped 10.5 per cent in 2012, boosted by growth in emerging markets. Martin Deboo at Investec [...]
Crack down on the high cost of living or growth suffers January 22, 2013 THE emergence of competitive economies in the East is a well-known phenomenon. But less understood is the challenge this poses to the West. First, the rising East will squeeze traditional markets (albeit while creating new ones). Secondly, it will turn the terms of trade for primary products against us. We are not powerless, however. Emerging [...]
What the other papers say this morning January 17, 2013 FINANCIAL TIMES Senators seek energy drinks data US senators stepped up their investigation into energy drinks on Thursday, demanding that companies making products such as Monster, AMP, Red Bull and Rockstar hand over internal documents that prove they are safe. Senators Richard Blumenthal and Richard Durbin and Representative Ed Markey asked 14 energy drink companies [...]
Stobart Group shares skid after haulage firm warns on profits January 17, 2013 STOBART Group’s shares fell by almost three per cent yesterday after the FTSE 250-listed lorry firm warned it would fall short of profit forecasts and announced the closure of its chilled business. The firm said its operating performance for the year will be slightly below market expectations, due to slower than hoped progress on its [...]
An operatic reminder of how the internet disrupts our world for the better January 17, 2013 IT HAS been a week of crushing victories for the internet. It continues to claim victims among retail firms blindsided by the web’s 24/7 stores, with their limitless inventories and weightless products. With thousands of jobs on the line, and hundreds of shops at risk of closure, it would be easy to see the change [...]
What the other papers say this morning January 14, 2013 FINANCIAL TIMES Junk-bond prices point to bulls return The junk-bond market is sending a bullish signal for the global economy in 2013, with investors in US high-yield securities earning higher returns so far this year than those who have bought investment-grade debt. High-yield bonds are an acute barometer of risk appetite and rises in their [...]
Pensioners’ fuel bills more than double as energy price climbs January 10, 2013 OVER 65s were last year faced with energy bills more than double those they paid in 2005, according to data out this morning. The average weekly fuel bill for families of people aged 65 and older was £26.08 in 2012, Saga said, up from £12.87 in 2005 – an increase of 102.6 per cent. This [...]
Banking and mining shares drive FTSE to highest level since May ‘08 January 9, 2013 BRITAIN’S blue-chip stocks hit their highest level since May 2008 yesterday, with gains led by banking stocks and miners after a reassuring start to the US earnings season boosted demand for riskier assets. The FTSE 100 broke through a near two-year high at 6,105.77 in afternoon trade, following a strong opening on Wall Street, peaking [...]
Rapid responses January 8, 2013 Planning inflation [Re: Daft planning rules are pushing up the price of food in shops, yesterday] While it is always good for an article about planning policy to focus on commercial property rather than housing, and while the academics cited may have delivered interesting papers, let’s not use this work to justify more fiddling with [...]