Mandelson says Miliband taking party backwards September 25, 2013 FORMER business secretary Lord Mandelson yesterday accused Ed Miliband of dragging the Labour party backwards with plans to freeze energy prices. Mandelson, widely seen as the architect of new Labour, lashed out after Miliband told the Labour Party conference he would impose a 20-month suspension of household fuel bills if he wins the next election. “As [...]
SSE Fitch rating of A- remains unchanged following Ed’s energy freeze September 30, 2013 The ratings agency Fitch Ratings has today affirmed utilities company SSE the Long-term Issuer Default Rating (IDR) of 'A-' with a Stable Outlook. This comes after Ed Miliband's price freeze announcement last week; the A- rating signifies that economic situation can affect the finance of a company, but is an unchanged rating for the company. [...]
Letters to the Editor – 26/09 – Energy price fix, Inflation target, Best of Twitter September 25, 2013 Energy price fix [Re: Miliband’s lurch to left is a recipe for disaster, yesterday] Labour claims that it wishes to promote a more competitive energy industry by breaking up the largest firms. Of course the irony is that the plan to freeze energy prices will likely result in a far less competitive market. Centrica has [...]
Latest polls put Labour eight points ahead September 24, 2013 DESPITE a cold shoulder from business groups on plans for corporation tax, Ed Miliband’s Labour party still commands a sizeable lead in many polls. Yougov’s most recent poll, conducted between Sunday and Monday, found that Labour have an eight-percentage point lead, scooping up a full 40 per cent of the popular vote. The Conservatives lag [...]
Balls to restrict pension tax relief for wealthy September 24, 2013 SHADOW chancellor Ed Balls confirmed yesterday that a future Labour government would cut tax relief on pensions, reducing the refunds available to higher-income taxpayers. Balls’ speech on Monday said that removing tax relief for “the very highest earners” would save enough to pay for a compulsory jobs programme, which would apply to young and long-term [...]
We can bring down UK energy costs without Miliband’s populist price fix September 25, 2013 WELL, no one can say we don’t know what Ed Miliband stands for any more. Whacking business with higher taxes, strangling them with regulation, expropriating land from owners who don’t develop, and reversing benefit cuts. The list of Wonga policies – superficially attractive in the short term, punitively expensive in the long term – was [...]
What the other papers say this morning – 31 July 2013 July 30, 2013 FINANCIAL TIMES Biotech gives Wall St shot in the arm Biotechnology firms are raising money at the fastest rate since the dotcom boom, underscoring the renewed appetite for one of Wall Street’s riskiest bets. So far this year 22 companies have raised $1.7bn from initial public offerings, according to Dealogic. Law firms hire rogue private eyes [...]
Centrica to lose British Gas boss in new strategy January 7, 2013 CENTRICA is preparing to replace Phil Bentley as managing director of British Gas as the energy giant lays out a change in strategy. He is expected to leave his post in the coming months, though no successor has been picked. Bentley, who has spent 13 years at the firm, is believed to have clashed with [...]
WPP subsidiary acquires majority stake in online rival August 19, 2013 Corporate communications agency Addison, a wholly-owned subsidiary of British advertising giant WPP, announced this morning it has acquired a majority stake in Emaxol, the holding company of online rival IR Group (release). IR Group (“The Group”) employs 65 people and specialises in designing, building, hosting and developing corporate websites and digital consulting services. Clients include [...]
Subsidies to lift gas storage too costly, say MPs September 4, 2013 THE UK decided yesterday against intervening in the energy market to boost gas storage capacity, saying that subsidising projects would be too expensive for taxpayers. Gas stocks in the UK, Europe’s biggest gas consumer, were near depletion last winter when a prolonged cold spell boosted demand. At the time, the government commissioned a report to [...]