At a glance: All of Alistair Darling’s 2010 Budget tax and spend policies March 24, 2010 THE ECONOMY/ PUBLIC FINANCES l Confirmed pre-Budget report (PBR) 2010 growth forecast of 1-1.5 per cent. But the chancellor revised downwards the 2011 forecast to 3-3.5 per cent to bring forecasts in line with those of the Bank of England. Growth forecast of 3.5 per cent in 2012 maintained. l Inflation spike expected to be [...]
Npower follows in footsteps of rivals as cuts gas prices March 9, 2010 GERMAN energy provider Npower has been forced to follow its competitors and cut household gas prices by seven per cent from March 26. This month has seen a string of gas providers reduce prices and out of the “big six” only EDF Energy and Scottish Power have yet to make the move. Eon cut its [...]
Factory prices surge as costs rise March 5, 2010 THE price factories are charging for their products surged last month month as they passed on the rising cost of energy and raw materials. Prices jumped 4.1 per cent on the year last month compared with January’s 3.8 per cent, according to the Office for National Statistics (ONS). Core inflation is running at 3.5 per [...]
Scottish & Southern cuts prices March 4, 2010 SCOTTISH and Southern Energy (SSE) became the second British energy supplier to cut gas prices, lowering household bills by between 4-9 per cent from 29 March, the utility said yesterday. Its planned pricing adjustments equates to a four per cent or £30 reduction in annual gas bills for standard credit or direct debit customers. Single [...]
BP’s fall takes fuel out of oil stocks but FTSE rises higher February 2, 2010 Britain’s top shares closed higher for the third straight session yesterday as miners and banks extended the previous day’s gains but BP dragged energy stocks lower with fourth-quarter results that missed expectations. The FTSE 100 was up 35.90 points, or 0.7 per cent at 5,283.31, after closing 1.1 per cent higher on Monday. Miners added [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 20, 2010 FINANCIAL TIMES BERLIN PUSHES WEBER FOR TOP JOB AT THE ECB Berlin has stepped up its campaign for Axel Weber, Bundesbank chief, to be elected president of the European Central Bank amid intense negotiations over the appointment of the number two position at the Frankfurt-based institution. German officials told the Financial Times that eurozone nations [...]
US sees return of inflation December 16, 2009 US CONSUMER prices rose 0.4 per cent in November on the previous month, taking the annual inflation rate to 1.8 per cent. This was the first year-on-year gain recorded in the index since February and was in line with analysts’ expectations. The surge last month was fuelled by a 4.1 per cent surge in energy [...]
The power plant boss who is busy trying to clean up her firm’s act December 16, 2009 T he best way to describe the chief executive of Drax power station Dorothy Thompson is to say that she is poised – a quality that will undoubtedly come in handy when it comes to navigating a path through energy markets beset with low demand and ever more onerous climate change targets. When one meets [...]
Where the smart money should be heading next year December 16, 2009 AT THE start of 2009, there was a very real chance that we would enter another Great Depression and the banking system was still on its knees. But the past 12 months have been an astonishing year in the markets – stock market indices have risen sharply beyond all expectations and major countries returned to [...]
Inflation continues to accelerate, fuelled by bumper energy prices December 15, 2009 INFLATION accelerated in November to a six-month high of 1.9 per cent as higher energy costs fuelled price rises and pushed the rate closer to the Bank of England’s two per cent target. The retail prices index (RPI), on which many wage negotiations are based, moved back into positive territory for the first time since [...]