Asian shares climb as US earnings to test optimism July 13, 2020 Asian shares climbed toward five-month peaks today as investors wagered the US earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan added one per cent, having climbed sharply last week on the back of surging Chinese stocks, which [...]
Renewable energy set to grow by 50% by 2024 October 21, 2019 The world’s total renewable power capacity is forecast to grow by 50 per cent by 2024, according to the International Energy Agency’s (IEA) Renewables 2019 report, which was released today. Solar photovoltaics are predicted to account for more than half of the growth, with the 600GW increase to be driven mainly by commercial, industrial and [...]
International Energy Agency chief warns oil demand could sink 20 per cent March 26, 2020 Global demand for oil could fall by 20 per cent as 3 billion people around the world live in lockdown. Head of the International Energy Agency Fatih Birol, who made this prediction, also called on Saudi Arabia to rectify the situation. Brent crude, currently at $26 a barrel, has been driven to record lows because [...]
Business groups call for further support as UK tightens restrictions September 22, 2020 The government must set out a new support package as new restrictions threaten to derail the economic recovery, business groups have warned. Addressing the House of Commons today, Boris Johnson dealt a devastating blow to the hospitality sector as he unveiled plans for a 10pm curfew. And as he warned of a second wave of [...]
Oil prices reaction: All the fallout as OPEC sends prices spiralling March 9, 2020 Oil prices fell to a four-year low today after Russia and Saudi Arabia began a price war that triggered major stock market sell-offs. The two oil-producing titans were in talks over a further production cut to protect oil prices against the coronavirus outbreak. But Russia blanched at the prospect of slashing another 1.5m barrels per [...]
Tories slammed by free market groups over state aid pledges November 29, 2019 Business and free market groups slammed pledges today by Boris Johnson to expand state aid for businesses if the Conservative Party win the upcoming election. In a press conference today, Johnson promised to expand Britain’s state aid regime once the UK leaves the EU. “We will back British businesses by introducing a new state aid [...]
Oil prices: Opec faces ‘daunting’ global surplus with prices to nosedive in 2020 September 12, 2019 The International Energy Agency has ramped up the pressure on oil-rich countries to cut production, after it warned international organisation Opec will have to tussle with a growing surplus that will decrease prices. Read more: Saudi Aramco Indian investment ‘among biggest ever’ In its monthly report, the IEA said the challenge of managing global oil [...]
IPCC report: why the detail matters to energy investors August 16, 2021 The United Nation’s Intergovernmental Panel on Climate Change (IPCC) report will shock many people. The data speaks for itself and illustrates the most important challenge facing humanity over the next 100 years. We expect the IPCC report to shock government leaders and lead to actionable policies being implemented at the COP26 climate summit in November. These [...]
IEA urges Theresa May to ditch Chequers for its alternative ‘Brexit prize’ September 24, 2018 Free-market thinktank the Institute of Economic Affairs (IEA) has unveiled its alternative Brexit plan in a move that will pile pressure on the Prime Minister following her failure to secure support for her Chequers plan at an EU summit in Salzburg last week. The IEA said the government had approached Brexit in the “wrong way” [...]
Labour pledges an extra £40bn to NHS November 12, 2019 Labour will outspend the Tories on health by promising an extra £40bn to the NHS if it wins next month’s General Election. Shadow chancellor John McDonnell and shadow health secretary Jonathan Ashworth will unveil Labour’s health policy tomorrow, promising to increase the health and social care budget to £178bn in 2023-24 – an average annual [...]