Fujitsu to axe 1,800 UK jobs as part of “strategic transformation” October 11, 2016 Japanese tech giant Fujitsu will axe nearly 2,000 jobs as part of a "strategic transformation" which it says is not linked to the Brexit vote. Fujitsu said today that it plans to streamline operations resulting in a reduction on up to 1,800 jobs in the UK. The move will affect workers at its major sites in Belfast, Bracknell, Crewe, Londonderry/Derry, Manchester, Stevenage, Wakefield [...]
CMA launches consultation to pave way for prepayment meter price cap October 11, 2016 Britain's competition watchdog today started consulting on a draft order to show how its promised price caps for pre-payment energy meters can be implemented. The price cap for around four million households on prepayment meters was one of the 30 measures put forward by the Competition and Markets Authority as a result of its two-year investigation into the Big Six energy suppliers. [...]
IEA says oil market will recover faster if Opec sticks to cut deal October 11, 2016 The International Energy Agency (IEA) said today that the global oil market could recover more quickly if the Organisation of Petroleum Exporting Countries (Opec) sticks to its production cut deal. "Even with tentative signs that bulging inventories are starting to decline, our supply-demand outlook suggests that the market — if left to its own devices — may remain [...]
National Grid seeks industry’s views on creating a flexible energy market October 10, 2016 National Grid has asked energy users and other stakeholders to submit their views on flexible markets and products. The move is part of the grid operator’s work programme focused on the development of a flexible system that welcomes new players within the UK’s energy industry. Over the next 12 months, its will look at ways to [...]
InnovaDerma predicts maiden profit on Dragons’ Den-backed Skinny Tan October 10, 2016 Shares in InnovaDerma soared today after the beauty company said it is on track to book a maiden profit this year. The firm expects to report revenues of around £4.2m in the year to 30 June, up more than 800 per cent from just £0.5m a year ago. Strong top line growth should enable it to announce a maiden net [...]
Oil prices shake off losses as Opec deal optimism returns October 10, 2016 Oil prices reversed earlier losses this afternoon reflecting rising optimism about an agreement among Opec producers to curb record output levels. Brent crude, the global benchmark, increased 1.35 per cent to $52.63 per barrel, while West Texas Intermediate crude swelled 1.45 per cent to $50.53. Both benchmarks had fallen in mid-morning trading. It was buoyed after Saudi Arabia's energy minister, [...]
IEA says world more energy efficient despite really cheap oil October 10, 2016 The International Energy Agency (IEA) said today that the world's economies used less energy to grow last year despite low oil and natural gas prices. Energy intensity — the amount of energy used per unit of gross domestic product — rose by 1.8 per cent last year, according to a new report by the IEA. This beat a gain of [...]
BP chief executive Bob Dudley says oil market “pretty much in balance” October 10, 2016 BP's chief executive has said that the global oil market is "pretty much in balance", despite industry expectations for it to remain oversupplied well into next year. Speaking to CNBC at the World Energy Conference in Istanbul, Bob Dudley said: "We look at it on a daily basis and it is pretty much in balance. It is [...]
Work cited as biggest cause of stress in people’s lives October 10, 2016 Ever-increasing workloads and long hours mean more than half of employees cite work as the biggest cause of stress. The pension and benefit consultant JLT Employee Benefits found 55 per cent of 120 people surveyed thought work was the most stressful part of their life, followed by money at 19 per cent and family at 13 per cent. Just [...]
