Drax margins in boost as its costs reduce May 15, 2012 POWER station Drax yesterday said it had been boosted by lower costs in producing power, while sales are on the rise. Drax, which converts coal into energy, said that the wholesale prices it was paying for coal were falling while it was selling energy at higher rates. The difference in so called “dark green spreads” [...]
E.ON freezes its tariffs for 2012 May 14, 2012 E.ON, one of Britain’s biggest energy suppliers, said yesterday it will not increase energy tariffs for its UK residential customers this year, despite rising wholesale energy prices. Last week, Centrica said gas costs would be 15 per cent higher next winter, while other pressures would add another £50 to the cost of supplying energy to [...]
We are in a world without leaders: The G-Zero will soon replace the G7 May 13, 2012 WHEN so many problems bestride borders, the need for international cooperation has never been greater. Cooperation demands leadership, however. Only leaders have the leverage to coordinate multinational responses to transnational problems. They have the wealth and power to persuade other governments to take actions they wouldn’t otherwise take. They pick up the bills that others [...]
FTSE closes above 5,800 mark after good US data boosts world outlook May 1, 2012 B RITAIN’S top share index jumped more than one per cent yesterday after stronger-than-expected US manufacturing data gave a lift to global growth hopes, pulling commodity stocks higher. Banks were also in demand as investor risk appetite returned. Shares of Lloyds rallied more than eight per cent after the part state-owned lender reported a £288m [...]
The mayoral debate: Boris and Ken issue their final message to voters April 30, 2012 THIS election comes when we have been going through the toughest times that anyone can remember. The big question is therefore blindingly simple. It is about who has the best plan for the jobs and growth that will help bring prosperity to all. It is about who will deliver the investment – from central government [...]
Shell earnings rise fuelled by oil price jump April 26, 2012 OIL major Royal Dutch Shell beat forecasts yesterday with an 11 per cent rise in quarterly profit, fuelled by higher oil prices. Europe’s largest oil company by market capitalisation said its current cost of supply (CCS) net income – an industry measure of profit – jumped to $7.66bn (£4.7bn). Production lifted by 1.4 per cent [...]
Silence of the doves as inflation concerns grow April 18, 2012 AFTER tolerating the UK’s high inflation for years, Bank of England officials have suddenly begun to worry that it is not coming down towards its two per cent target as they had hoped. The Bank had predicted inflation would fall to its target before the end of the year, but deputy governor Paul Tucker yesterday [...]
It’s true: There’s a real danger that fracking will cause a major boom April 17, 2012 A REPORT commissioned by the government and released yesterday has given the green light to the extraction of shale gas. The report concludes that hydraulic fracturing (fracking), a technology that pumps water and chemicals underground to fracture shale formations in order to release trapped gas, is safe but requires tight regulation and seismic monitoring. The [...]
UK inflation rises April 17, 2012 British inflation ticked up in March, driven by higher food and clothing prices and reinforcing expectations the Bank of England will not inject more stimulus into the economy next month. The Bank of England and the government have been hoping that falling price pressures will ease the squeeze on Britons’ budgets and boost consumer spending. [...]
Good earnings help US shares bounce back April 11, 2012 AN encouraging start to earnings season helped US stocks rebound yesterday five days of losses that pushed the S&P 500 below a key technical level. Equities cut gains late in the session after the Federal Reserve said rising energy costs were a concern for economic growth. Atlanta Fed President Dennis Lockhart said the economy would [...]