BP misses climate target despite record £23bn profit.

Creative Media NewsWednesday, 8 February 2023, 10:000

The sector denies profiting from society’s suffering, saying it is heavily investing in the future. While declaring record yearly profits, BP disclosed that it will miss a crucial climate goal. The London-based company’s primary profitability metric, underlying replacement cost profit, reached $27.7 billion (£23 billion) in 2022. Even with lower oil and gas costs in...

Magistrates urged to stop forcing prepayment meters.

Creative Media NewsTuesday, 7 February 2023, 2:000

Energy company appeals to install prepayment metres will be stopped by English and Welsh magistrates courts. In light of the rising concern, one of the nation’s highest-ranking judges stated that the cases must be suspended. Ofgem has requested that all companies halt coercive installations. Lord Justice Edis, the judge who oversees the operation of all...

London-listed trading platform Plus500 granted UAE licence, lifting shares.

Creative Media NewsMonday, 6 February 2023, 8:000

Plus500 has been awarded a license to operate in the United Arab Emirates, a market with the potential for rapid expansion. The financial technology company, which provides individual investors with services such as futures trading and contracts for difference, informed investors that the Dubai Financial Services Authority license will allow it to immediately begin operations...

Bank of England rate-setter wants more hikes to prevent “policy boogie”

Creative Media NewsMonday, 6 February 2023, 6:000

A member of the monetary policy committee argues for additional rate hikes just days after the Bank indicated that its key interest rate is nearing its maximum. A member of the Bank of England committee that determines the Bank rate urged her colleagues to remain steadfast in the fight against inflation, expressing concern over the...

Britishvolt: Australian business buys UK battery startup

Creative Media NewsMonday, 6 February 2023, 2:000

A company from Australia has been selected as the preferred bidder for Britishvolt. The UK battery startup that ceased operations last month. Britishvolt will be acquired by Scale Facilitation Partners’ Recharge Industries. Britishvolt was placed in administration because of a lack of funds. It had intended to construct a massive facility near Blyth, Northumberland, to...

January car sales rise for a sixth month as supply chain issues improve: MG leads EV sales.

Creative Media NewsSunday, 5 February 2023, 22:000

The new car market in the United Kingdom expanded for the sixth consecutive month in January as supply chain concerns afflicting the industry continue to improve, according to industry data released on Monday morning. Last month, 131,994 new automobiles were registered, up 14.7% from January 2022, according to SMMT. Electrified vehicles, particularly hybrids, propelled the...

Bonhill asset sale accelerates; Plus500 gets UAE licence; Sosandar director dies.

Creative Media NewsSunday, 5 February 2023, 18:000

The FTSE 100 index is down 0.7% in afternoon trading. Today, reporting and trading updates are forthcoming from Bonhill, Plus500, Sosandar, Playtech, and DP World. Read the Business Live blog entry for February 6 below. In a recent interview, Rishi Sunak braces for a new attack from Liz Truss. Today, Rishi Sunak faces a new...

BMW negotiating £75m UK government grant for electrified Mini

Creative Media NewsSunday, 5 February 2023, 12:000

The German automaker is in negotiations with the Automotive Transformation Fund over a £75 million grant that would guarantee the production of electric Minis at Cowley. BMW is discussing a £75 million government subsidy package to safeguard electric Mini production at its Oxfordshire plant. BMW is in negotiations with Department for Business, Energy, and Industrial...

Courts allowed warrants to forcefit prepayment meters.

Creative Media NewsSaturday, 4 February 2023, 18:000

Previously, warrant applications were subject to stringent review, but current guidance to the courts finds this requirement “disproportionate.” Energy companies can ask for warrants if their invoices remain unpaid for an extended period. This week, though, vendors were warned to stop forcibly installing meters. Following a story from The Times that debt collectors had broken...

Energy conservation to avoid blackouts “likely how we’ll all work” National Grid

Creative Media NewsSaturday, 4 February 2023, 12:000

Wendy, 65, one of almost one million participants in an energy-saving program, says, “It’s about preventing blackouts for those who rely on electricity, such as families with young children, the elderly, and the crippled. If it helps them, then it’s all worth it to me.” According to the National Grid Electricity System Operator’s head of...

Apple sales in greatest dip since 2019

Creative Media NewsSaturday, 4 February 2023, 10:000

The growing cost of living led to a decline in Apple’s sales by the close of 2022. In the three months leading up to December, the iPhone giant’s sales decreased by 5% compared to the same period in 2021. The decline was the largest since 2019 and worse than anticipated. Many companies are warning of...

Energy firms warned against forcing prepayment meters.

Creative Media NewsFriday, 3 February 2023, 22:000

The industry regulator, Ofgem, has requested that energy firms pause the installation of prepayment meters. The Times reported that British Gas debt collectors installed metres in vulnerable people’s houses. Ofgem has requested that all suppliers examine the use of court warrants to access the residences of delinquent consumers. It stated that companies must “get their...

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