Commitee of MPs launch inquiry into energy network charges February 12, 2014 THE ENERGY and Climate Change Committee yesterday launched a new inquiry into network costs, as the public furore into rising energy bills rumbles on. The committee of MPs is assessing whether the regulator Ofgem is doing enough to ensure the costs of transporting and distributing energy stay low. Network costs make up around 23 per [...]
Energy networks to face MP grilling February 12, 2014 Energy suppliers could breathe a (brief) sigh of relief today as the Energy and Climate Change Committee’s latest inquiry isn’t about them. As the public furore into rising energy bills rumbles on, the committee of MPs is now looking into energy network costs, which regulator Ofgem estimates make up around 23 per cent of a [...]
London Report: Utilities drag on FTSE as energy profits debated February 10, 2014 FRESH political pressure on British utilities hit the sector’s stocks yesterday, limiting broader gains in the UK’s top equity index although it rose for the fourth straight session. The blue-chip FTSE 100 index closed up by 0.3 per cent, or 19.87 points, at 6,591.55 points. Gains at British bank Barclays and drugmaker AstraZeneca together added [...]
BP boss warns against Scottish independence February 4, 2014 BP CHIEF Bob Dudley yesterday warned that Scottish independence would cause uncertainties for Britain’s oil and gas industry, ahead business secretary Vince Cable’s grilling from MPs on the issue today. Dudley said that there were “big uncertainties” surrounding a Scottish currency and that the FTSE 100 oil giant’s overheads would rise if Scotland left the [...]
Could falling Japanese stocks see Abenomics end in tears? February 4, 2014 The Nikkei took the biggest hit of any advanced economy stock index yesterday, dropping over four per cent. The Japanese stock index is down by about 14 per cent from its December peak. Is Prime Minister Shinzo Abe’s radical easing policy slipping up? Despite fears of a new bear market, this isn’t even the biggest [...]
City Matters: Social impact investing: The City must embrace a future of philanthropy January 29, 2014 THE CITY has always been a crucible for debate, innovation and philanthropy. All three are crucial as we strive to rise to the complex challenges posed by the “new normal” – a fast-developing globalised world where resources are increasingly scarce and in demand. I am particularly keen to draw upon the City’s energy, expertise and [...]
EU must invest in new technology or lose out to global rivals, warns energy boss January 28, 2014 Europe needs to invest more in new technology if it wants to compete in an age of cheap energy, according to the chief executive of Italy's largest power company, Fulvio Conti. Speaking to CNBC, he said: If we don't invest in new technologies and improvements it will be difficult to match the competition of emerging [...]
What the other papers say this morning – 27 January 2014 January 27, 2014 FINANCIAL TIMES Citigroup bankers to get cash bonuses Citigroup is set to pay most of its investment bankers in Europe at least half of their bonuses in cash this year, underlining how US banks continue to be much more generous than their European rivals. At Citi’s Europe, Middle East and Africa unit, its top rewarded [...]
Supermarkets look to generate own electricity January 26, 2014 SUPERMARKET chains are increasingly looking to generate their own energy, as a means of securing supply, cutting costs and reducing their carbon emissions. FTSE 100-listed Sainsbury’s “will continue to invest in low-carbon technologies including solar panels for stores and depots in 2014,” a spokesperson told City A.M. The retailer opened two carbon-neutral stores late last [...]
The Mints are falling apart: It’s time to reassess our view of emerging markets January 26, 2014 TO PARAPHRASE Antony in Julius Caesar, I come to bury the Mints idea, not to praise it. True, as with its Brics ancestor, former Goldman Sachs Asset Management head Jim O’Neill has hit upon something vitally important by identifying Mexico, Indonesia, Nigeria and Turkey as future economic giants. With the Brics, it was that the [...]