BP platform in the North Sea forced to shut after oil spill October 3, 2016 BP closed an oil platform in the North Sea after an oil spill was reported over the weekend. The oil major’s Clair platform, which is about 46 miles west of Scotland’s Shetland Islands in the North Sea, has been shut while an investigation is conducted into the leak which occurred yesterday. BP said that the oil [...]
Tesla delivered a record amount of cars in the third quarter October 2, 2016 Prolific entrepreneur Elon Musk's Tesla Motors said today that the number of vehicles it delivered hit a record 24,500 in the third quarter. They had risen 70 per cent quarter-on-quarter in what the firm said was a "slightly conservative [figure], as we only count a car as delivered if it is transferred to the customer and all [...]
Cyber attacks can cost UK businesses up to £1m, BAE Systems says October 2, 2016 Falling foul to a cyber attack would cost one in 10 UK businesses up to £1m, according to fresh research by BAE Systems. The poll of 100 business leaders from private sectors firms with more than 1,000 employees also showed that the average cost of a cyber attack was at least £330,000. Read more: Cyber attack [...]
Liberty owner teams up with Jack Wills founder to buyout fashion chain October 2, 2016 The owner of the Liberty department store in London has joined forces with the founder of Jack Wills as part of a multi-million pound buyout of the clothing empire. The fashion chain's joint shareholders are now the private equity firm which owns Liberty, BlueGem Capital Partners, alongside Jack Wills' founder and chief executive, Peter Williams. Read more: Liberty [...]
Rolls-Royce ramps up efforts to build mini-nuclear power plants October 2, 2016 Rolls-Royce has ramped up its efforts to build a fleet of small nuclear power stations as the next stage of a government competition draws closer. CityAM understands that 30 employees from its Trident submarine work are now checking work that’s already been done on the company’s blueprint for the Small Modular Reactors (SMRs). The [...]
Lights out for one National Grid gas unit bidder October 2, 2016 One of the bidders vying for National Grid's gas unit is no longer in the running. Sky News said last week that a consortium including sovereign wealth funds from Abu Dhabi and Kuwait, as well as pension funds from the UK and Canada, was told that it had failed to make it through to the [...]
Sajid Javid to rule on Blackpool fracking this week October 2, 2016 Sajid Javid is expected to rule on Cuadrilla Resource's attempt to frack for shale gas at two sites near Blackpool next week. The communities and local government secretary’s decision is likely to come at the Conservative party conference which kicked off yesterday. His department has previously said that a final decision will be made by 6th October. Only then will [...]
BAE Systems gets £1.3bn to start building new nuclear submarines October 2, 2016 BAE Systems has been given a further £1.3bn by the Ministry of Defence (MoD) to start building Britain’s next generation of nuclear submarines. The funding will cover initial manufacturing work that is due to commence next week. It will also be used to develop the design of the submarines, purchase materials and invest in BAE’s yard [...]
Ofgem investigates ‘E’ energy supplier for potentially misleading customers September 30, 2016 Ofgem is investigating gas and electricity supplier E for potentially misleading its customers. The regulator said today that the investigation was triggered by concerns over the supplier's approach to attracting new customers. Companies are required to provide complete and accurate information to customers who are switching to a new tariff or energy supplier. The BBC reported [...]
Ovo Energy makes first profit as smart meter push pays off September 30, 2016 Independent energy supplier Ovo made a pre-tax profit for the first time in its seven-year history, helped by improved customer tenure and as "being a first mover with smart meters paid off". The company said today that its pre-tax profit hit £30.4m in the six months to 30 June, up from a loss of £3.6m a year earlier. [...]
