EDF becomes the last of the “big six” to cut gas prices January 27, 2015 EDF has become the last of the "big six" energy suppliers to cut gas prices. In a statement today, the company said it will cut prices by 1.3 per cent from 11 February, benefiting about a million customers. The company added that further falls in the price of wholesale gas will be passed on "as [...]
Best of the Brokers for 04 November 2014 November 3, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com B&M EUROPEAN VALUE RETAIL Numis has upgraded its rating from “hold” to “add” as the company’s shares have fallen to what the broker calls an “attractive entry point”. Although profit forecasts have fallen for the general retail sector since the IPO in June, the broker [...]
Centrica slides on British Gas’ £5.6m penalty April 10, 2014 CENTRICA’S share price slumped over one per cent yesterday, after its supply arm British Gas was fined £5.6m by the regulator for unfairly blocking business customers from switching. Energy firms can prevent customers from switching in certain cases, such as if the customer owes money on the account. But Ofgem found that between 2007 and [...]
Scottish independence could impact results says Centrica March 27, 2014 Energy giant Centrica has warned of the consequences of a yes vote in Scotland's independence referendum as well as political interference in the energy market. The company made the comments in its annual financial report for the year to 20 February 2014. In the event that Scotland became independent parts of Centrica's upstream assets would [...]
Centrica buys Irish firm as UK review looms March 25, 2014 CENTRICA yesterday said that together with two investment firms, it has agreed to buy Bord Gais Energy (BGE), in a long-speculated deal that will pump €1.1bn (£920m) into the Irish government’s coffers and mark the energy giant’s first foray into the neighbouring market. The FTSE 100 firm will buy BGE’s gas and electricity supply business [...]
Centrica lands €1.1bn Irish deal March 25, 2014 Energy giant Centrica together with private equity groups Brookfield Renewable Energy Partners and iCON Infrastructure Partners II have agreed to buy Irish energy firm Bord Gais Energy (BGE) for €1.1bn (£0.9bn). Centrica will take ownership of BGE's electricity supply business in Ireland as well as the Whitegate gas-fired power station, with an enterprise value of [...]
Greek debt fear makes banks drag FTSE down – London Report January 27, 2015 BANKS led the FTSE 100 index lower yesterday as they slipped on concerns the Greek crisis could spread while miners fell with weaker metals prices. It ended the blue-chip index’s eight-session run to a four-month high on Monday. Mid-cap oil producer Afren plunged 71 per cent after saying it was in talks with its largest [...]
Maggie’s Centre agrees deal with St Bartholomew’s to share facilities at City hospital December 4, 2014 A new cancer care centre in the centre of the City moved a step closer yesterday when the three groups involved in the scheme agreed to proposals for a Maggie’s Centre at St Bartholomew’s Hospital. The plans, proposed by cancer care charity Maggie’s and backed by Barts Health NHS Trust and The Friends [...]
FTSE weighed down by poor Chinese data – London Report November 20, 2014 BRITAIN’S top share index yesterday fell for a second day, hit by weak economic data from the Eurozone and China and a profit warning from energy supplier Centrica. The blue chip FTSE 100 index closed 0.3 per cent lower at 6,678.90 points, extending its retreat from an eightweek high reached on the previous day. Centrica, [...]
City A.M. has raised millions for good causes over the years December 18, 2014 City A.M. is no stranger to philanthropy, and has achieved some impressive results through its charity appeals. For its first appeal, launched in 2011, it chose Opportunity International, a charity which provides microfinance loans for thousands of enterprising Africans who want to start their own business. City A.M.’s initial ambitious target was £250,000, but ultimately [...]