Ofgem demands UK energy market shake-up June 22, 2011 Ofgem has told the country’s biggest utilities it believes sweeping reforms are needed to the retail gas and electricity market to encourage competition at a time of rising energy prices. “We will pursue breaking up the stranglehold of the Big Six on the electricity market to encourage more firms, like new arrival the Co-op, to [...]
Ofgem demands UK energy market shake-up June 22, 2011 Ofgem has told the country’s biggest utilities it believes sweeping reforms are needed to the retail gas and electricity market to encourage competition at a time of rising energy prices. “We will pursue breaking up the stranglehold of the Big Six on the electricity market to encourage more firms, like new arrival the Co-op, to [...]
FTSE solid as investors eye US jobs data July 8, 2011 The FTSE 100 started out on the front foot today as investors awaited key US jobs data to assess the strength of the country’s economic recovery. Positive performances on Asian markets and on Wall Street buoyed sentiment in London with the non farms payroll figures to set the tone for trading later. Greece will also [...]
CITY MOVES | WHO’S SWITCHING JOBS May 18, 2011 Jupiter Asset Management Amanda Sillars (pictured) and David Lewis have joined Jupiter’s Merlin fund-of-funds team as fund selection specialist and assistant fund manager respectively. Sillars was formerly investment director and executive director at JP Morgan Asset Management, where she managed about 500 funds and investment trusts. Lewis has been promoted from Jupiter’s private clients & [...]
New job for El-Mokadem April 17, 2011 IAN El-Mokadem, the former head of catering services firm Compass in the UK, starts as new chief executive of materials testing firm Exova today. El-Mokadem’s four-year turnaround of Compass, as well as stints at Centrica companies British Gas and OneTel, have earned him a reputation for successfully growing and overhauling service sector UK firms. At [...]
Weak banks and fears over Eurozone debt drag on FTSE May 9, 2011 BANKING stocks weighed on Britain’s leading share index yesterday, with the sector hit by their capitulation in a fight over loan insurance mis-selling, and by Eurozone debt concerns after S&P cut Greece’s credit rating. The British Banking Association said members would not appeal a ruling that they compensate customers wrongly sold payment protection insurance (PPI). [...]
Weak banks and fears over Eurozone debt drag on FTSE May 9, 2011 BANKING stocks weighed on Britain’s leading share index yesterday, with the sector hit by their capitulation in a fight over loan insurance mis-selling, and by Eurozone debt concerns after S&P cut Greece’s credit rating. The British Banking Association said members would not appeal a ruling that they compensate customers wrongly sold payment protection insurance (PPI). [...]
Oil firms may move rigs out of UK waters April 3, 2011 MAJOR UK oil and gas firms are drawing up plans to move their drilling rigs out of the North Sea’s British waters to avoid punitive changes to the tax regime, City A.M. has learned. British gas owner Centrica and others are considering plans to move rigs out of UK waters to Norwegian and Dutch areas [...]
FTSE drops sharply as banks suffer in wake of stress tests July 18, 2011 BRITAIN’S top shares fell sharply yesterday after the results of stress tests on European banks were met with disappointment over their credibility while investors were also fearful over the threat of a US default on the nation’s debt. The banking sector index sunk to a two-year low as money managers and traders cast doubts over [...]
Stocks slump as sovereign debt fears intensify July 18, 2011 Feeble bank stress tests in Europe and looming sovereign debt worries pushed UK stocks into a downward spiral today and left the FTSE 100 at a two-week low. More than 90 per cent of the European banks tested against stress scenarios passed, with a capital shortfall of only €2.5bn (£) – but markets rejected the [...]