WHAT THE OTHER PAPERS SAY THIS MORNING January 5, 2012 FINANCIAL TIMES NEW CLASHES BREW OVER TOBIN TAX Britain and France are set for another European clash as Paris attempts to frame a new Eurozone financial transaction tax in a way that is likely to have a significant impact on the City of London. President Nicolas Sarkozy of France wants to include the so-called Tobin [...]
Npower is fined £2m by Ofgem October 31, 2011 ENERGY regulator Ofgem has slapped a £2m fine on Npower, one of Britain’s “Big Six” power companies, for improperly handling customer complaints. Ofgem said npower — owned by German utility RWE — was in breach of regulations that set standards for the way energy companies handle customer complaints. Complaint handling regulations, which took effect from [...]
Npower is fined £2m by Ofgem October 31, 2011 ENERGY regulator Ofgem has slapped a £2m fine on Npower, one of Britain’s “Big Six” power companies, for improperly handling customer complaints. Ofgem said npower — owned by German utility RWE — was in breach of regulations that set standards for the way energy companies handle customer complaints. Complaint handling regulations, which took effect from [...]
FTSE tumbles on US and Europe debt fears November 21, 2011 UK and European stocks fell today as the failure of a US government committee to agree on sweeping spending cuts revived fears over out-of-control sovereign debt. The bipartisan US congressional committee is expected to admit today that it cannot agree on a plan to cut back spending by $1.2 trillion (£760m) over the next decade [...]
BEST OF THE BROKERS September 13, 2011 CENTRICA Morgan Stanley rates the utilities company as “overweight” and sets a target price of 360p, saying that developments at British Gas in UK upstream gas and power assets are underappreciated. The broker says Centrica will grow at seven per cent per year, even in an economic slowdown, or 15 per cent if it uses [...]
MEET THE JUDGES September 21, 2011 ALLISTER HEATH | CITY A.M. Allister joined City A.M. as editor in early 2008. He chaired our panel of judges. SIR MARTIN SORRELL WPP Sir Martin is the co-founder and chief executive of WPP, the world’s largest communications company. SIMON MACKENZIE-SMITH BANK OF AMERICA MERRILL LYNCH Simon is chairman of UK & Ireland corporate and [...]
Centrica buys New York energy firm for £55m March 21, 2011 Centrica has reported that its North American subsidiary, Direct Energy, has agreed to acquire the New York-based energy retailer Gateway Energy Services for $90m (£55m) in cash. Gateway has more than 275,000 gas and electricity customer accounts, located mainly in New York State, New Jersey and Pennsylvania. This acquisition will further strengthen Direct Energy’s position [...]
Centrica profits to spark anger February 20, 2011 CENTRICA, the UK’s biggest energy supplier, is expected to generate a storm of controversy this week by announcing pre-tax profits for last year of £2bn. Results on Thursday are likely to show Centrica’s firm British Gas made £740m in profits last year, up from £595m the year before. Ofgem, the industry regulator, is due to [...]
Centrica profit rise fuelled by cold spell February 24, 2011 CENTRICA yesterday reported a sharp rise in full-year profit, boosted by higher power demand during the severe winter and as it added more residential customers. The energy company, which owns Britain’s biggest household energy supplier British Gas, reported an adjusted operating profit of £2.39bn, on sales marginally higher at £22.4bn Analysts expected an operating profit [...]
Centrica profit rise fuelled by cold spell February 24, 2011 CENTRICA yesterday reported a sharp rise in full-year profit, boosted by higher power demand during the severe winter and as it added more residential customers. The energy company, which owns Britain’s biggest household energy supplier British Gas, reported an adjusted operating profit of £2.39bn, on sales marginally higher at £22.4bn Analysts expected an operating profit [...]