ITM Power runs a loss from operations of £26.7m in FY21 September 13, 2021 ITM Power, a company which manufactures hydrogen energy solutions, has announced meagre results for FY 2021, running a loss from operations of £26.7m. While sales revenue jumped 30 per cent year on year to £4.3m, adjusted EBITDA losses increased by 18 per cent to stand at £21.4m. Total revenue and project grant funding stood at [...]
International energy watchdog predicts slump in oil demand in second half – CityAM : CityAM August 12, 2021 The resurgence in new Covid cases globally triggered by the spread of the Delta variant will hit oil demand in the coming months, according to the international energy watchdog. The International Energy Agency said the fresh wave of Covid infections in Asian countries is likely to curb oil consumption as authorities reimpose restrictions on economic [...]
VAT for hospitality to rise to 12.5 per cent tomorrow September 30, 2021 Hospitality bosses have called for a freeze on increases to VAT, as the tax on pubs and restaurants will rise to 12.5 per cent tomorrow. The 12.5% rate will replace the reduced 5% rate that has applied to hospitality businesses since July 2020. It marks a step in the Treasury’s goal to return the tax [...]
Oil prices slide as production ramps up Stateside January 21, 2022 Oil prices have tumbled as market sentiment took a downturn following rising inventories the US, with questions over future benchmark performance.
Rishi Sunak should axe 20 UK taxes in Budget, says think tank March 1, 2021 The UK should axe inheritance tax, stamp duty, the TV licence fee and 18 other taxes to simplify the UK’s taxation regime post-Covid, according to a free market think tank. The Institute for Economic Affairs’ (IEA) pre-Budget release has called for Rishi Sunak to “simplify the tax system, reduce the overall burden of taxation, and [...]
Shell’s shareholders vote for its climate strategy, despite growing support for its activist rival May 18, 2021 Energy giant Shell saw its shareholders overwhelmingly support the company’s energy transition strategy today, despite growing backing for a second climate resolution filed by an activist group. An advisory vote on its climate strategy, which meant it was a non-binding resolution, won 88.74 per cent shareholder support at its annual general meeting (AGM) today. The [...]
Oil prices bounce back as EU considers joining UK and US with Russian energy sanctions March 21, 2022 Oil prices climbed over three per cent this morning, as eu nations weigh up the possibility of imposing energy sanctions on Russia.
EU can’t always get what you want: Hungary stalls progress towards Russian oil ban May 10, 2022 Hungary has continued to withhold its backing from a long-proposed European Union ban on imports of Russian oil supplies.
EU President: Europe can deal with partial disruption to Russian gas flows February 16, 2022 The EU could cope with a partial disruption to gas imports from Russia, argued commission president Ursula von der Leyen.
‘Nest Egg’ policy proposal wins £50,000 IEA Breakthrough Prize October 10, 2019 A £50,000 free market prize has been awarded to the authors of a new report which has proposed allowing universities, rather than government, to lend to their students. Read more: Johnson and Varadkar hold talks Researcher Peter Ainsworth and academic economist Dr Tom McKenzie have been named the winners of the Institute of Economic Affair’s [...]