Nabuh Energy on the brink as Ofgem demands outstanding payment October 31, 2019 Nabuh Energy has become the latest energy supplier to be threatened with having its license revoked after Ofgem issued it with an order demanding outstanding Renewables Obligations be paid today. The Sheffield-based company, which came bottom of Citizens Advice’s customer service rankings, owes £872,200. Read more: Ofgem issues Gnergy final payment warning Nabuh Energy is [...]
Royal Dutch Shell profits slide 15 per cent amid low oil prices October 31, 2019 Royal Dutch Shell became the third oil supermajor to feel the strain of low oil prices this week as profits fell 15 per cent in the third quarter. However, Shell still managed to comfortably beat analysts’ expectations, posting earnings of $4.8bn (£3.7bn), well ahead of the $3.91bn anticipated. Read more: Total latest to suffer from [...]
Russian pipeline Nord Stream 2 gets final approval October 30, 2019 The controversial Russian oil pipeline Nord Stream 2 has been approved by Denmark, removing the last obstacle in the way of the project’s completion. The Danish permit, which has been pending since April 2017, was the last needed for the 1230km pipeline from Russia to Germany to be completed. Read more: European politicians blast Gazprom [...]
The death of yields in six charts October 30, 2019 | City Talk There has been a relentless downward move in global bond yields since the 2008 Global Financial Crisis. This trend – underpinned by highly supportive central bank policies and stubbornly low inflation – has been a defining characteristic of the post-crisis world. Another defining trait of this period, and a landmark for financial markets, has been [...]
Severn Trent announces new chair October 30, 2019 Severn Trent announced this morning that Christine Hodgson had been appointed as the next chair of the FTSE 100 water company. Hodgson will succeed Andrew Duff in April 2020, having joined the board as a non-executive director from 1 January. Read more: Severn Trent chairman steps down as water firm implements new plan She is [...]
Total latest to suffer from low oil prices in Q3 results October 30, 2019 Oil supermajor Total’s profits slumped by 24 per cent this morning as it became the latest company to be hit by low oil and gas prices. The French company’s third quarter results showed that profit was $3bn (£2.3bn), down from $6.24 billion in the same three months in 2018. Read more: Weak oil prices push [...]
Pound climbs on General Election news but traders foresee rocky ride October 29, 2019 The pound jumped today after it became clear the Labour party would back a December General Election, but it has since settled back down as traders steeled themselves for a volatile six weeks. Read more: Labour to back PM’s call for December General Election Sterling has had an extremely rocky few months. It hit a [...]
Four things you need to know about BP’s results October 29, 2019 BP released its third quarter update this morning and with the oil giant announcing a $749m (£581.3m) loss, it was not pretty reading for investors. Fuelled by weaker oil prices and a hit from hurricanes, BP’s share price dropped nearly four per cent to 493p. However, the company still beat analyst expectations despite its poor [...]
Tiktok owner Bytedance denies having immediate plans for Hong Kong listing October 29, 2019 Bytedance, the $75bn Chinese firm behind short-form video app Tiktok, has denied reports it is considering an initial public offering (IPO) in Hong Kong as soon as next year. The Financial Times has reported that the seven-year-old startup could list in the territory as soon as the first quarter of next year, but Bytedance denied [...]
Ofgem issues Gnergy with final payment warning October 29, 2019 Ofgem has issued Gnergy with a final order for their unpaid Renewables Obligations bill, raising the possibility that the supplier could have its license revoked if they did not comply by the payment deadline. The watchdog said that the company, which was one of four suppliers who missed the original deadline for payments, had not [...]
