Global
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A coalition of major financial institutions and governments has unveiled plans to establish a company dedicated to boosting private investment in sustainable development projects across emerging markets and developing economies (EMDEs). Blended finance integrates public or philanthropic capital with private funding through a unified investment structure, facilitating investment in ventures with high perceived risk profiles,…
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BlackRock has been removed from a list of companies subject to divestment for “boycotting energy companies”, after the asset management firm exited climate-focused investment initiatives and revised its energy investment policies, according to Texas Comptroller Glenn Hegar. In 2022, the list emerged amidst an anti-ESG drive in Republican-led states, gaining traction since President Trump’s election,…
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Crude prices fall on output rise, demand unease
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Sliding employment levels in the UK service sector over the last eight months amount to the “longest streak” since the 2008 financial crash – barring the pandemic – according to S&P Global analysts. UK firms are facing intense pressure to maintain profit margins after a labour costs surge following Chancellor Reeves‘ tax raid on employers’…
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UK growth could be higher than expected due to trade deals agreed with the US and the European Union, a City consultancy has said. Most forecasters downgraded the UK’s economic outlook for the year in the wake of President Trump’s ‘Liberation Day’, with the IMF and other major forecasters warning the UK was set to…
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UK steelmakers have narrowly avoided being hit with a damaging 50% import tariff by the United States – for now – after President Trump signed an Executive Order confirming that the UK will remain under the existing 25% tariff while a new bilateral steel agreement is finalised. Read more: UK steelmakers avoid immediate 50% US…
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UK-based renewable energy firm Low Carbon has announced the completion of a sale involving a portfolio of eight solar projects with a total capacity of 350 MW, as well as two co-located battery storage assets with a capacity of 85 MW, to the French energy conglomerate TotalEnergies. These projects are in advanced development stages and…
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There is no single change radical enough to deliver the “fundamental reset” needed by the UK’s water industry, a much-anticipated review into the sector has found. The Cunliffe review has been led by former Bank of England deputy governor Sir John Cunliffe and is the largest since the sector was privatised in the late 1980s.…
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The British Business Bank has reached a major milestone in its mission to support smaller businesses across the UK, with more than £5 billion now delivered through its ENABLE structured guarantee programmes. Read more: British Business Bank hits £5bn milestone fuelling regional growth and housebuilding
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The US Department of Energy has announced the termination of $3.7 billion in grants allocated to clean energy projects during the Biden administration. These grants, awarded through the Office of Clean Energy Demonstrations (OCED), were reviewed and deemed economically unviable by the current administration. In total, the DOE has cancelled 24 grants. The department noted…