Severn Trent expects to ramp up dividend as operating costs rise July 16, 2014 Severn Trent yesterday said that it was trading in line with expectations and planned to raise its dividend by 5.6 per cent this year, although its operating costs were set to rise due to inflation, taxes and higher energy spending. Despite speculation that there would be fierce shareholder opposition at yesterday’s annual general meeting – [...]
TT Electronics buys Roxspur July 14, 2014 TT ELECTRONICS yesterday revealed that it has snapped up Roxspur Measurement & Control for an initial fee of £7.5m. The cost of the deal could rise to £10m, dependent on a further £2.5m payable in 2016 based on performance of the business. Sheffield-based Roxspur, which makes hi-tech sensors, has companies such as Tata, Rolls Royce [...]
Complaints about energy companies more than double in the last six months July 14, 2014 The volume of complaints about energy companies has reached a record high in the first six months of 2014, according to the independent ombudsman. Complaints in the period to July this year have already surpassed that of the entire of 2013, with customers especially unhappy with their bills and the way transfers have been handled. [...]
MPs blast lack of urgency on energy policy July 1, 2014 THE GOVERNMENT’S convoluted energy policies are deterring much-needed infrastructure investment, a committee of MPs warned yesterday. “We are concerned that the complexity and changing nature of the policy landscape affecting infrastructure investment, particularly in the energy sector, may be causing investors to hold back from making investment decisions,” said a report by the Public Accounts [...]
Sterling jumps to 2008 high on industrial surge July 1, 2014 THE POUND climbed to a fresh high yesterday, rising to its strongest level against the dollar for five and a half years, as a bullish report from manufacturing firms suggested that the recovery was steaming ahead. Sterling pushed to around $1.716 during the day. The latest survey of UK industrial companies by Markit and the [...]
There is a problem in the UK’s energy market – but it’s the regulator’s fault July 1, 2014 OFGEM has referred the retail energy market for investigation by the Competition and Markets Authority (CMA). This is the right decision, for the wrong reasons. Most of Ofgem’s concerns are insubstantial. The real source of the problem is Ofgem’s policy, described in its annual report issued the same day as “Simpler, clearer, fairer. Three words [...]
Tata steelworks cuts 400 jobs due to “uncompetitive” energy costs July 1, 2014 The Tata steelworks in Port Talbot is set to shed 400 jobs, with chief executive Karl Koehler saying the moves were necessary for the company to remain competitive. High business rates and rising energy costs were cited as reasons for the job losses. "Steel demand and prices are likely to be under pressure for some [...]
Eurozone growth stutters as French output threatened by oil price risks June 23, 2014 Preliminary survey data shows that the Eurozone's (still) fledgling recovery has stuttered in June. Purchasing managers' index (PMI) data released by Markit shows that the pace of expansion across the private sector has slowed a little, with a headline PMI of 52.8 in the euro area. Any number above 50 implies that order books are [...]
Infinis Energy backers get £20m windfall after its maiden results June 19, 2014 Infinis Energy will give investors a £20m windfall after beating management expectations with its maiden results as a listed company. The group, floated by Guy Hands’ private equity group Terra Firma in November, reported record operating earnings of £148.4m, calculated before costs associated with the market listing. The company intends to pay a 6.63p dividend [...]
New York Report: Dow goes up with inflation June 17, 2014 US STOCKS rose yesterday as data pointing to higher inflation lifted shares while high-growth tech names attracted renewed attention. The Dow Jones was up 27.48 points or 0.16 per cent, to end at 16,808.49. The S&P 500 gained 4.21 points or 0.22 per cent, to 1,941.99, while the Nasdaq Composite added 16.13 points or 0.37 [...]