Energy key as Qatar, UK look to strengthen strategic cooperation
Highlights Qatari delegation in UK for new cooperation talks Qatar already key supplier of LNG to UK market Talks also set to focus on UK gas storage Energy remains at Continue Reading
UK Faces Growing Risk of Recession as Firms Buckle Under Soaring Costs
The UK economy faces an increased risk of falling into a recession as firms and households buckle under the fastest inflation rate in four decades, according to a closely watched Continue Reading
Britain’s Inflation Rate Surges to a 40-Year High of 9%
Is the UK’s Leveling Up Plan Just a Slogan? Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . UK inflation rose to Continue Reading
UK Diesel Prices at the Pump Hit Record High, RAC Says
The price for Britain’s motorists to fill up their cars with diesel reached a fresh high, in another blow to consumers grappling with the nation’s cost-of-living crisis. The average UK Continue Reading
Missing Billions Threaten to Break Britain’s Energy Market
The war in Ukraine has exposed the vulnerability of the energy industry across Europe, but the UK market is looking increasingly perilous for suppliers and consumers for reasons closer to Continue Reading
The UK’s Nuclear Ambitions Could Cause More Pain For Consumers
The UK is racing to reduce its reliance on Russian oil and gas. Part of its strategy is to ramp up nuclear power production. The government’s ambitious plans may be Continue Reading
Cheap Food in Britain Is About to Become a Thing of the Past
The decades-long era of cheap food in Britain may be coming to an abrupt end. With the U.K. wilting under the fastest inflation in three decades, supermarkets are raising prices Continue Reading
The UK Could Give Up Russian Gas Sooner Than Thought
The European Union is debating energy embargos on Russia, with natural gas as one of the key talking points. Russia is ramping up threats to cut Europe’s gas if it Continue Reading
U.K. Says 43% of People Will Struggle to Pay Their Energy Bills
Britain’s cost-of-living squeeze is starting to bite into the spending power of most parts of the country, with 43% of those who pay energy bills saying they will struggle with Continue Reading
Supermarkets Limit Cooking Oil Purchases After Supplies Hit by Ukraine War
Supermarkets across the UK have placed limits on how much cooking oil customers can buy due to supply-chain problems caused by Russia’s invasion of Ukraine. Tesco is allowed three items Continue Reading
Britain’s steelmakers scorched by white-hot power prices
Steel boss James Brand raises his voice above the roar of metal being funneled into a foundry furnace as he details how rampant costs have pushed him to raise his Continue Reading
Protests Hit Lloyd’s of London HQ Over Fossil Fuel Insurance
Climate change protesters in London have targeted insurance underwriting house Lloyd’s of London for its role in enabling fossil fuel projects. The City of London Police said they were aware Continue Reading
Rolls-Royce expecting UK approval for mini nuclear reactor by mid-2024
A Rolls-Royce (RR.L) design for a small modular nuclear reactor (SMR) will likely receive UK regulatory approval by mid-2024 and be able to produce grid power by 2029, Paul Stein, Continue Reading
U.K. Economy Set to Shrink in 2Q, Bloomberg Economics Says
Britain’s economy will shrink in the second quarter as the squeeze on living standards, the end of free Covid testing and an extra public holiday hit activity, according to new Continue Reading
Oil firms secure injunctions to stop UK climate protests
Three firms involved in Britain’s oil sector, including ExxonMobil, have secured injunctions to stop protests by climate change activists which have caused widespread disruption this month, the government said on Continue Reading
Britain will have enough gas this summer, National Grid says
Britain will have enough gas supply to meet demand from April to September, National Grid said in its annual summer outlook on Thursday. Total UK gas demand is forecast at Continue Reading
U.K. Job Market Missing Almost 600,000 People Since Covid Hit
The tightest U.K. labor market in living memory is failing to tempt people back into work, creating severe shortages for employers. Unemployment is at levels last lower in the 1970s, Continue Reading
U.K. Bets Big on Nuclear, Wind in Energy Security Strategy
Prime Minister Boris Johnson ramped up plans to build new nuclear power stations and offshore wind farms as he seeks to shore up the U.K.’s energy supplies in the wake Continue Reading
U.K. Launches New Body to Manage Future Energy System Security
The U.K. will create a new authority to oversee the country’s energy system as it transitions to more low-carbon supplies. The Future System Operator will work to secure Britain’s energy Continue Reading
UK-based Gazprom units says German move has secured their future
The British-based subsidiary of Gazprom said Germany’s move to take control of its parent had removed any concerns about the viability and future of its operations, and it would look Continue Reading
U.K. Startup’s ‘Big Friendly Gun’ Achieves Fusion Breakthrough
A U.K. startup backed by China’s Tencent Holdings Ltd. proved a novel approach to generating fusion energy in a breakthrough that could slash the technology’s cost by providing cheap, clean Continue Reading
Britain’s Torrid Love Affair With Nuclear Power Continues
Leonard S. Hyman is an economist and financial analyst specializing in the energy sector. He headed utility equity research at a major brokerage house and… The Nuclear Energy Act that Continue Reading
Britain could build seven nuclear power stations, minister says
Britain could build up to seven new nuclear power stations as part of a radical expansion of homegrown energy following Russia’s invasion of Ukraine, Business Secretary Kwasi Kwarteng told The Continue Reading
High energy costs are hitting UK. It’s about to get worse
Tia Rutherford is worried about her 3-year-old son. As energy prices soared last fall, she tacked fleece blankets over her doors and windows to keep the cold out and started Continue Reading
ExxonMobil suspends deliveries from four UK fuel depots due to protests
Protesters claim 10 fuel terminals have been blocked Some protesters arrested for action: police Comes as transport fuel prices surge in UK on Russia tightness ExxonMobil said April 1 it Continue Reading
U.K. Lifts Bar for Heatwaves After Global Temperatures Soar
Rising temperatures caused by climate change have forced the U.K.’s weather agency to raise the threshold for what counts as a heatwave. The government-backed Meteorological Office currently uses historical weather Continue Reading
UK Gas Output Stagnation Threatens Supply
The UK’s natural gas industry is struggling to boost production, and this will likely make the country more reliant on imports, industry association Offshore Energies UK said this week, as Continue Reading
London Pollution Worse Than Beijing as Mayor Extends Alert
London’s Mayor extended the first air quality warning since August 2020 for another day after pollution levels mushroomed throughout the week. A cocktail of high atmospheric pressure, little wind and Continue Reading
U.K. Inflation Hits Another 30-Year High: The London Rush
Here’s the key business news from London-listed companies this morning: Ultra Electronics Holdings Plc : The defense-industry supplier reported adjusted pretax profit for the year that beat the average analyst Continue Reading
Fixing London’s Housing Crisis Means More Risk of Deadly Floods
On any other day, White Post Lane in London’s Hackney Wick neighborhood crawls with people searching for artisan coffee and taking selfies against the graffiti-covered walls. Outside a newly renovated Continue Reading
EU Oil And Gas Embargo On Russia Could Hit UK Hard
If the European Union decides to impose a full oil and gas embargo on Russia, the shock waves of the move would end up costing the UK economy more than Continue Reading
UK revokes Russian channel RT’s licence after probe into Ukraine coverage
Britain’s media regulator said on Friday it has revoked Russian-backed television channel RT’s licence to broadcast in the UK with immediate effect after a probe into the impartiality of its Continue Reading
Inside the 18 Minutes of Trading Chaos That Broke the Nickel Market
When the commodity’s price went vertical last week, the metals industry plunged into turmoil not seen since the Tin Crisis of 1985. The open-outcry trading ring at the London Metal Continue Reading
Goodbye Londongrad: Russian Oligarchs Put Pressure on U.K. Property Market
Over the past two decades, London’s high-end property market was overrun by the global superrich led by Russian oligarchs who did so many big, brash deals that locals called the city Londongrad. Continue Reading
UK To Phase Out Russian Oil Imports By End Of 2022
Along with U.S. President Joe Biden banning Russian oil imports, the UK opted to phase out oil imports from Russia in response to Vladimir Putin’s illegal invasion of Ukraine. The Continue Reading
LME suspends nickel trading after prices soar past $100,000
The London Metal Exchange (LME) halted nickel trading on Tuesday after prices doubled to a record $100,000 per tonne, fuelled by a race to cover short positions after Western sanctions Continue Reading
LME Halts Nickel Trading After Unprecedented 250% Spike
Nickel Trade Halted on LME as Price Spikes 250% The London Metal Exchange suspended trading in its nickel market after an unprecedented price spike left brokers struggling to pay margin Continue Reading
Pound Falls to New Low in Post-Brexit Era as Haven Bid Heats Up
The pound slumped to the lowest since December 2020 as traders flocked to the U.S. dollar amid an escalation in the Ukraine war. Sterling slid to as low as $1.3156, Continue Reading
U.K. Cutoff of Gazprom Would Hit Companies, NHS With Price Surge
Biden Says Russia Sanctions Have Had ‘Profound’ Impact As calls grow for the U.K. to cut off Russian companies over the invasion of Ukraine, few realize how costly that could Continue Reading
UK LNG Workers Call On Government To Stop Inbound Russian Tankers
The government must immediately intervene to stop two Russian tankers – containing enough liquid gas to supply the UK for up to 12 days – from docking in Kent at Continue Reading
BP’s Rosneft Alliance Tested by U.K. Tough Talk on Russia
The U.K. government has argued for some of the toughest possible sanctions on Russia. At the same time, BP Plc holds one of the single biggest foreign investments in the Continue Reading
U.K. Takes Aim at Russia’s Opaque Embrace of London Property
From Chelsea penthouses to Highgate mansions, Russia’s long-standing infatuation with U.K. real estate is evident from a cursory glance at some of the country’s priciest property transactions. The past decade Continue Reading
Flash Flooding Threatens Over Two-Fifths of London’s Businesses
More than 126,000 commercial buildings in London are at risk from flash flooding. Climate change will heighten that threat. Those are the findings of a new study by Zurich Insurance Continue Reading
As inflation hits 30-year high, UK households start to buckle
After work in the evenings, Nicola Frape turns off the heating and huddles under a blanket with her daughter and a hot water bottle. Adding a layer costs nothing, she Continue Reading
U.K. Services Roar Back With Strongest Growth in 8 Months
U.K. services companies rebounded more quickly than anticipated in February as coronavirus restrictions were lifted, according to a report that will pile pressure on the Bank of England to ramp Continue Reading
First Offshore Wind Farm Wins U.K. Deal to Manage Electric Grid Voltage
A wind farm has for the first time secured a deal to help balance voltage in the U.K.’s electricity grid. North Sea wind farm Dogger Bank C’s onshore converter station Continue Reading
Boris Johnson braced for further resignations of Downing Street aides
Boris Johnson was braced for further departures of senior aides from his Downing Street team on Friday as some government ministers were said to be considering their position. Four of Continue Reading
UK to soften new energy price surge for inflation-hit households
Britain will outline a multi-billion-pound plan on Thursday to help households cope with soaring energy bills, shortly after the regulator announces an expected 50% jump in the price cap. British Continue Reading
U.K. Lawmakers Warn Net-Zero Target at Risk With Poor Heat Plan
Residential homes in Kingston upon Thames, U.K. The U.K. government’s plans to decarbonize heating in homes “lack strategic direction” and risk missing their goals, according to a committee of lawmakers. Continue Reading
U.K. Wind Energy Hits Record, Bringing Relief to Power Costs
Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . U.K. wind farms produced a record amount of energy on Saturday, helping Continue Reading