Author: Press Room
Stay informed with free updatesSimply sign up to the UK energy myFT Digest — delivered directly to your inbox.New low-carbon power generating schemes, including wind farms, will be exempt from the UK’s windfall tax on the sector as part of government measures aimed at boosting investment. The Treasury said on Wednesday the exemption from the so-called Electricity Generator Levy, which was introduced last year during the energy crisis, would come into effect immediately for projects awaiting approval. The tax was designed to target excess profits made by generators as electricity prices soared in the wake of Russia’s full-blown invasion of Ukraine. But…
© Reuters. ABINGDON – Oxford Instruments Plc, a leading provider of high-technology tools and systems, has announced the appointment of Hannah Nichols as an Independent Non-Executive Director, set to take effect in January 2024. Nichols, currently serving as the CFO of Hill & Smith PLC since September 2019, is recognized for her extensive financial expertise and ability to enact transformational change. Nichols’ appointment is expected to bolster Oxford Instruments’ board with her deep understanding of global finance and strategic operations. Having held significant roles at BT Group (LON:) plc and Cable & Wireless plc, she brings a wealth of experience…
© Reuters. The oil market is on alert for a possible decline to $74 per barrel as recent developments suggest a shift in the supply-demand dynamic. Following the release of the Federal Reserve’s minutes which indicated a consensus on maintaining interest rates, the US dollar has strengthened. Meanwhile, the American Petroleum Institute (API) reported a substantial increase in US crude inventories, with a jump of over 9 million barrels as of Tuesday. Today, the Energy Information Administration (EIA) is set to release its crude stockpile change report, with expectations pointing to a minor build. Additionally, storage change figures and Baker…
Johnson Matthey GAAP EPS of 59.10p, revenue of £6.53B
© Reuters. The currency pair took a sharp dive today, reaching a level of 1.2456, which represents about a 0.63% decrease. This movement is largely attributed to recent U.S. economic data suggesting that inflationary pressures remain and the economy may be deliberately slowing down as part of the Federal Reserve’s broader strategy. The University of Michigan reported an increase in near-term inflation expectations to approximately 4.5%, which stands in stark contrast to the lower consumer sentiment that was recorded at just above sixty-one points on the index. In the UK, Chancellor Jeremy Hunt has highlighted austerity measures with a focus…
It seems like something out of science fiction: swarms of killer robots that hunt down targets on their own and are capable of flying in for the kill without any human signing off.But it is approaching reality as the United States, China and a handful of other nations make rapid progress in developing and deploying new technology that has the potential to reshape the nature of warfare by turning life and death decisions over to autonomous drones equipped with artificial intelligence programs.That prospect is so worrying to many other governments that they are trying to focus attention on it with…
It’s been just one year since generative AI (GenAI) mania hijacked the news cycle and set in motion a tidal wave of new tech innovation and rampant speculation about our work lives changing forever. It was November 30, 2022, when the AI research and development firm OpenAI released the demo version of its ChatGPT software, and, over the twelve months that followed, we’ve seen no shortage of interest in and drama surrounding GenAI. (Photo by JOSEP LAGO/AFP via Getty Images)AFP via Getty Images As if to punctuate the one-year anniversary, OpenAI’s board of directors ousted its CEO, Sam Altman; its…
Exhausted stressed holidays buyer feeling fatiguedgetty As the holiday season officially begins tomorrow, we will be met with the same typical voices that we hear every year: “The holidays are a time for family, togetherness, faith, and gratitude.” And… “Spend, spend, spend. Your holidays can always be better if you spend a little more!” In the most brilliant of scenarios, the marketing messages we see will combine both. “Your family will have a better Christmas if you buy this…” “Your kids will experience more joy if you get them this…” “Your perfect Christmas morning is missing only one thing…” “Your…
Stay informed with free updatesSimply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox.The UK’s national forecaster cut expectations for electric car sales in half as it warned that higher interest rates and falling fuel prices would slow the country’s switch to battery models.The Office for Budget Responsibility cut its forecast for electric vehicle sales to 38 per cent of new car sales in 2027, compared with its estimate of 67 per cent in March.The OBR said EV sales had “repeatedly exceeded our expectations” but that “steep sales growth of the past years, boosted by…
© Reuters. FILE PHOTO: A “For Rent, For Sale” sign is seen outside of a home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo (Reuters) -The average interest rate on the most popular U.S. home loan fell last week to its lowest level in two months as Treasury market yields, which act as a benchmark for mortgage rates, continued to move lower on the back of cooling inflation and a softening economy. The average contract rate on a 30-year fixed-rate mortgage declined by 20 basis points to 7.41% for the week ended Nov. 17, data from the Mortgage Bankers…