British Gas owner Centrica sees shares fall to 20-year low as it warns of energy price cap hit to cash flow February 21, 2019 The owner of British Gas grew profits last year, but shares dropped 11 per cent this morning to a 20-year low as the company warned a new energy price cap will impact cash flow. The figures Revenue grew six per cent year on year to £29.7bn at Centrica and adjusted operating profit was up 12 per cent to [...]
Heathrow breaks the history books with over 80m passengers flying through airport February 21, 2019 Heathrow airport enjoyed the busiest year in its history last year, bringing in 80.1m passengers, a near three per cent increase on the year before. The record-breaking numbers were accompanied by a climb in revenue of three per cent to £3bn, which the airport said was delivered by increasing demand and strong retail spend. Over the [...]
The rubbish revolution: How to profit from plastic policy changes February 21, 2019 It is estimated that eight million tonnes of plastic packaging end up in the world’s oceans every year. The plastic problem has jettisoned into social consciousness over recent years, helped by TV programmes like Blue Planet and Plastic Ocean. Now our lives are littered with concerns about the impact of this material on the environment. [...]
Government will miss smart meter targets, MPs say February 21, 2019 The government will not reach its target of installing smart meters in every home in the UK by the end of 2020, MPs have warned, after a string of setbacks hit the initiative. Meanwhile, northern customers are helping to pay for meters many of them will never see, the Business, Energy and Industrial Strategy Select [...]
Billionaire Sir Jim Ratcliffe met with Prime Minister over 4×4 vehicle plan February 21, 2019 Prime Minister Theresa May has held talks with Sir Jim Ratcliffe about his ventures as the businessman reportedly looks to take parts of his fortune abroad. Britain’s richest man, who is facing increased scrutiny over his tax arrangements, met with May and business secretary Greg Clark last week to discuss his blueprint for a new [...]
Earnings are electric at Scottish Power owner February 21, 2019 Spain's Iberdrola has said it will bring forward its growth plans by a year after profits rocketed. The Scottish Power owner said it now expects to hit 2022 targets, including net profit of €3.5bn to €3.7bn (£3bn to £3.2bn), by 2021. The supplier, is on a major investment spree, having poured €4.1bn into its networks and renewables business. [...]
Autotech M&A deal value falls to five-year low in second half of 2018 February 20, 2019 Merger and acquisition value in the automotive technology sector hit a five year low in the second half of 2018 as car manufacturers struggled with dwindling demand in China and a global crackdown on emissions. A total of 100 M&A deals were completed in the second half of last year, including Renault, Ford and Volkswagen’s [...]
Port of Tilbury £200m London project gets green light February 20, 2019 Authorities have given the green light for a £200m port project on the outskirts of London, in a bid to deal with rising demand from the construction, manufacturing and retail sectors. The Department for Transport (DfT) gave the project its blessing yesterday, meaning work on the second terminal at the Port of Tilbury in Thurrock [...]
Dubai-based port operator DP World pays £322m for P&O Ferries February 20, 2019 Emirati port operator DP World has bought back P&O Ferries for £322m 13 years after selling it. DP World acquired P&O, the British freight firm, in 2006 but sold off some assets, including P&O Ferries, to major shareholder Dubai World within the same year. Now it has paid to get the company back, along with logistics arm P&O [...]
Ghosn case should have been handled internally, new lawyer says February 20, 2019 Carlos Ghosn’s new lawyer launched an attack on Nissan and the Japanese legal system today as he dismissed the charges against the former car executive. Junichiro Hironaka, nicknamed the Razor, said the allegations should have been dealt with as an internal company matter and criticised Japanese judges for holding Ghosn behind bars, saying the move [...]
