Manufacturing downturn ‘deepens’ as production drop among fastest on record September 1, 2023 UK manufacturing hit a steep slump this month, figures revealed, as production dropped by a rate “one of the fastest in survey history”. According to the Chartered Institute of Procurement & Supply (CIPS) the UK manufacturing purchasing managers index (PMI) recorded 43.0 in August, down from 45.3 in July. This marked its lowest level since [...]
Ofgem clamps down on generators gaming the system after £3bn hit to households September 1, 2023 Electricity generators will no longer be able to artificially inflate energy prices and drive up households bills.
Adani Group faces fresh allegations of share price manipulation August 31, 2023 Adani Group has been accused of using "opaque" funds to avoid rules designed to prevent share price manipulation.
Glencore’s shares slide as 197 claimants for legal action revealed August 31, 2023 Shares in commodity giant Glencore have dropped over four per cent in early trading this morning amid its bitter legal battle in London.
Claire Coutinho replaces Grant Shapps as energy secretary August 31, 2023 Claire Coutinho has been appointed energy secretary in a promotion to a top cabinet role, amid a mini-reshuffle of the Prime Minister’s core team. It follows Grant Shapps moving over to the Ministry of Defence (MoD) after defence secretary Ben Wallace resigned from cabinet ahead of stepping down as an MP at the next general [...]
Orsted plunges 20 per cent on risk of £1.84bn US impairments amid offshore wind project woes August 30, 2023 Denmark's Orsted, the world's largest offshore wind farm developer, has revealed it may see a £1.84bn cost for US impairments.
EU spent £4.5bn buying HALF of Russia’s LNG supplies… despite pledge to wean West off Kremlin August 30, 2023 European Union countries spent over £4.5bn buying over half of all Russia's LNG supplies during the first seven months of this year.
Government scraps hydrogen levy saving households £120 per year August 30, 2023 The government has ditched the controversial 'hydrogen levy' following pushback from the energy sector and backbench MPs.
Oil prices unfazed by Gabon coup as sluggish China growth halts rallies August 30, 2023 Political unrest in Gabon risks further tightening oil markets, threatening a supply crunch amid swingeing OPEC production cuts.
Kwarteng offered advisory role at Aussie giant Fortescue Metals August 30, 2023 Kwasi Kwarteng has reportedly been offered an advisory role at Aussie commodities giant Fortescue Metals Group.
