Markets
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ScottishPower Energy Networks (SPEN), part of Iberdrola’s UK operations, plans to invest over €262 million to enhance and future-proof the UK’s electricity distribution infrastructure. This investment supports the nation’s climate targets and aligns with SPEN’s ED2 business plan (2023–2028), setting the groundwork for the forthcoming regulatory phase (ED3). SPEN CEO Nicola Connelly stated, “We are…
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Meta, the parent company of Facebook, Instagram, and WhatsApp, has announced a new agreement with Constellation Energy to extend the operational life of a nuclear energy facility in Illinois by 20 years. The facility’s 1.1 GW output will support Meta’s operations in the region and contribute to the company’s clean energy targets. Starting in June…
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Chancellor Rachel Reeves has unveiled a £15.6 billion package to fund trams, trains and bus networks outside London, as Labour seeks to reset the political narrative ahead of a difficult spending review. Read more: Rachel Reeves unveils £15bn regional transport investment to reshape economic narrative
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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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KKR’s retreat leaves Thames Water clinging to creditor plan.
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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…