Business group calls for government to review its smart meter programme September 23, 2016 A leading business group has called for the government to review its £11bn smart meter programme, which it believes is overly complex and expensive. It comes after a survey by the Institute of Directors found less than one per cent of its members would pay for a smart meter upfront. It added that while the [...]
UK urged to adopt Icelandic style fishing policy post-Brexit September 23, 2016 A Leading think tank has urged the UK to adopt an Icelandic style fisheries policy to boost sustainability post-Brexit. The Institute of Economic Affairs wants a “tradeable quota system” —in which fishing boats are allocated a share of the annual total allowable fish to catch — which would encourage property rights similar to those on the [...]
Hanjin thrown multi-million-pound lifeline to rescue stranded cargo September 22, 2016 The troubled shipping firm Hanjin has been thrown a multi-million-pound lifeline to rescue the stranded cargo which is trapped on its ships across the world. It comes after the firm's bankruptcy had what analysts have described as a "Lehman-like freeze" effect on the industry. The Korea Development Bank, the lead creditor of Hanjin Shipping, said that it will [...]
Kier Group has so far shrugged off the Brexit vote September 22, 2016 Kier Group's shares rose as much as 8.13 per cent to 1,384.00p per share this morning, after the construction and infrastructure firm said it had emerged unscathed from the Brexit vote. The figures Kier Group posted a pre-tax loss of £15m in the year ended 30 June due to one-off costs, such as those relating to its acquisition [...]
S&P downgrades EDF after UK government greenlights Hinkley Point C September 22, 2016 Credit ratings agency Standard & Poor's downgraded French utility giant EDF despite the UK government giving the green light to the £18bn Hinkley Point C nuclear power plant. It said construction risks linked to the project are high and that the large investments associated with it will weigh on EDF's already pinched cash flow. There have long [...]
Fed interest rate decision adds sheen to London-listed miners September 22, 2016 The US Federal Reserve's decision to hold interest rates proved to be a boon for London-listed miners which raced to the top of the FTSE today. While Fed chair Janet Yellen suggested US borrowing costs could rise this year, policymakers cut the number of rate increases they expect this year to one from two and projected a [...]
Rolls-Royce shares fall as it nabs new CFO Stephen Daintith from the Daily Mail publisher September 22, 2016 Shares in aerospace and defence company Rolls-Royce fell today after it named the Daily Mail publisher's Stephen Daintith as its new chief financial officer. The move comes as chief executive Warren East enacts a turnaround plan to simplify the manufacturer's overly complicated structure. He recently announced British high-speed rail boss Simon Kirby would be joining as chief [...]
First crude shipment in two years leaves major Libyan port September 21, 2016 A tanker set sail from the Libyan port of Ras Lanuf to Italy today, marking the first shipment from one of its key oil terminals since the civil war froze activity there two years ago. The port manager told Reuters that a second tanker is preparing to load at the terminal, stoking hopes that it will bring Libya a [...]
British Museum to be swamped by ocean-themed “flashmob” in protest over BP sponsorship September 21, 2016 Singing mermaids, people donning costumes that represent the sea and a whole host of other "big surprises" will participate in an ocean-themed "splashmob" taking place in the British Museum's great court on Sunday. Theatrical protest group BP or not BP? has arranged the unsanctioned medley in response to what it describes as the oil firm's "painfully ironic [...]
Hundreds of Norway oil workers go on strike over wages September 21, 2016 Hundreds of Norwegian oil workers downed their tools this morning after crunch wage talks broke down yesterday. The workers, who want higher wages, are at loggerheads with their employers who have already made substantial cost cuts and restructuring efforts as a result of the ongoing oil price rout. Today's strike involves more than 300 employees across firms Schlumberger, Baker Hughes, [...]
