Utilities Sector News

Latest News

  • BUZZ-Centrica: weakens as co details revamp plans Reuters - UK Focus - 7 minutes ago

    ** Utility poised for worst day since end-April after saying it will shed assets, staff, to focus on supply, services ** To cut c.10% of its workforce and sell up to 1 bln pounds worth of upstream and ...

  • (ShareCast News) - London's top flight index was holding on to slight gains at the start of the session, as analysts continued to debate the the US central bank's policy statement issued last night.

  • (ShareCast News) - European stocks were little changed, paring early gains as investors weighed up disappointing German labour data against a torrent of mostly well-received earnings reports.

  • Centrica to shed assets, staff, to focus on supply, services Reuters - UK Focus - 1 hour 5 minutes ago

    Centrica (LSE: CNA.L - news) will cut around 10 percent of its workforce and sell up to 1 billion pounds ($1.56 billion) worth of upstream and wind assets by 2017 as Britain's largest utility looks to focus on energy supply and services. The owner of energy supplier British Gas reported a three percent fall in first-half …

  • Royal Dutch Shell to cut 6,500 jobs on oil price slump

    Royal Dutch Shell said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover

  • Reuters Business News Schedule at 0830 GMT/0430 AM ET Reuters - UK Focus - 1 hour 11 minutes ago

    Editor: Sonya Hepinstall +44 207 542 3479 Global Picture Desk: +65 6870 3775 Global Graphics Desk: +65 6870 3595 Receive this schedule by email: http://mediaexpress.reuters.com TOP STORIES Shell to axe ...

  • Centrica PLC (LON: CNA) is cutting costs while SSE PLC (LON: SSE) is expanding through acquisitions.

  • British Gas Profit Up 99% As Owner Cuts Staff Sky News - 1 hour 37 minutes ago
    British Gas Profit Up 99% As Owner Cuts Staff

    The parent company of British Gas is to cut 10% of its workforce, 4,000 staff, as it moves to counter falling oil and gas prices. While announcing its half-year results, Centrica (LSE: CNA.L - news) said it planned 6,000 job losses but would hire 2,000 new people as it set new priorities following a strategic review of …

  • (ShareCast News) - British Gas owner Centrica announced that it will cut up to 4,000 jobs following a strategic review as it posted a near doubling of its first-half profits.

  • Britain's biggest energy supplier made £528m in the first half of 2015 - more than in the entirety of 2014

  • Britain's biggest energy supplier made £528m in the first half of 2015 - more than in the entirety of 2014

  • Britain's biggest energy supplier made £528m in the first half of 2015 - more than in the entirety of 2014

  • British Gas Profit Up 99% As Owner Cuts Staff

    The parent company of British Gas is to cut 10% of its workforce, 4,000 staff, as it moves to counter falling oil and gas prices. While announcing its half-year results this morning, Centrica (LSE: CNA.L - news) said it planned 6,000 job losses but it would hire 2,000 new people as it set new priorities following a strategic …

  • British Gas Profit Up 99% As Owner Cuts Staff

    The parent company of British Gas is to cut 10% of its workforce, 4,000 staff, as it moves to counter falling oil and gas prices. British Gas made an adjusted operating profit of £528m in the six months to 30 June - up 99% on the same period last year. But Ann Robinson, director of consumer policy at uSwitch.com, claimed …

  • Britain's largest utility Centrica will sell up to 1 billion pounds worth of upstream and wind assets by 2017 and reduce net headcount by around 4,000 staff in a strategy shift that will see it put more ...

  • Half-yearly Report Business Wire - 4 hours ago

    LONDON--(BUSINESSWIRE)-- CENTRICA PLC INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2015 AND OUTCOME OF STRATEGIC REVIEW FIRST HALF RESULTS Financial summary                         Period ended 30 June ...

  • Tesla founder Elon Musk arrives for the the annual Allen and Co. media conference Sun Valley

    Tesla Motors Inc (TSLA.O) will offer a $1,000 bounty to Model S owners and buyers who take advantage of word-of-mouth referrals of the electric cars, Chief Executive Elon Musk said Wednesday. The referral bounty will be available to those who buy new Tesla sedans - and those who refer them - through October 31. Musk said …

  • An unplanned outage at Britain's Rough natural gas storage site on Wednesday will lead to a loss of injection capacity of 8 million cubic metres a day , reduced from 18 mcm first reported by operator Centrica ...

  • British American Tobacco plc (LON:BATS), SSE PLC (LON:SSE) and Dignity Plc (LON:DTY) are under the spotlight after news today.

  • Nigeria LNG to take delivery of four carrier ships this year -CEO Reuters - UK Focus - Wed, Jul 29, 2015 10:45 BST

    Nigeria Liquefied Natural Gas Company (NLNG) expects to take delivery of four LNG carrier ships before year-end and another two next year, its chief executive said, positioning the state-backed gas exporter to expand its share of the growing market. NLNG signed agreements with South Korea's Samsung Heavy Industries and …

  • Utility Centrica's interim CFO to fill post permanently Reuters - UK Focus - Wed, Jul 29, 2015 09:57 BST

    Utility Centrica's interim chief financial officer Jeff Bell will fill the post permanently from Aug. 1, the company said in a statement on Wednesday. Bell, who took over as interim CFO on Sept. 1 last ...

  • Directorate Change Business Wire - Wed, Jul 29, 2015 09:00 BST

    LONDON--(BUSINESSWIRE)-- Centrica plc (‘Centrica’ or ‘the Company’) Centrica appoints Jeff Bell as Chief Financial Officer Centrica is pleased to announce the appointment of Jeff Bell as Chief Financial ...

  • Total sells stake in Shetlands project to Britain's SSE Reuters - UK Focus - Wed, Jul 29, 2015 08:49 BST

    LONDON/PARIS, July 29 (Reuters) - French oil major Total (Swiss: FP.SW - news) has agreed to sell a 20 percent stake in its North Sea Laggan-Tormore project to Britain's SSE (LSE: SSE.L - news) for 565 million pounds ($881 million), less than the $1.5 billion it had anticipated. Total, which will own 60 percent of the …

  • Britain's Rough gas storage site in unplanned outage-Centrica Reuters - UK Focus - Wed, Jul 29, 2015 08:46 BST

    Britain's Rough natural gas storage site is undergoing an unplanned outage on Wednesday due to offshore pipe work maintenance, operator Centrica Storage Ltd said on Wednesday. The outage will start at ...

  • SSE agrees to buy 20 pct stake in Total's Shetland project Reuters - UK Focus - Wed, Jul 29, 2015 07:28 BST

    SSE has agreed to purchase a 20 percent stake in Total's Laggan-Tormore gas field and plant for 565 million pounds , plus a forecasted investment of 350 million pounds to 2018, the British utility said ...

  • Broker tips: Centrica, RSA Insurance, Aveva Sharecast - Tue, Jul 28, 2015 17:17 BST

    (ShareCast News) - Investec upgraded shares of Centrica to 'buy' from 'hold' and raised its price target to 300p from 250p for two reasons.

  • Investec upgrades Centrica to 'buy' Sharecast - Tue, Jul 28, 2015 16:23 BST

    (ShareCast News) - Investec upgraded shares of Centrica to 'buy' from 'hold' and raised its price target to 300p from 250p for two reasons.

  • Drax Group plc (LON:DRX), Jardine Lloyd Thompson Group plc (LON:JLT), Elementis plc (LON:ELM) and SEGRO plc (LON:SGRO) reported their first half results today.

  • Trinity Exploration tumbles as Centrica deal is terminated Sharecast - Tue, Jul 28, 2015 11:37 BST

    (ShareCast News) - Shares in Trinity Exploration & Production tumbled after the company said late on Monday that it has been unable to extend the term of its agreement to complete the purchase of 80% interests ...

  • BUZZ-Drax: top of FTSE 250 after H1 reassures Reuters - UK Focus - Tue, Jul 28, 2015 09:39 BST

    ** Beaten-down power station Drax top of FTSE 250 & 2nd-top riser on Stoxx 600 after H1 results ** Reports an 18% rise in H1 core earnings to 120 mln pounds thanks to higher production ** Half-year divi ...

  • Drax starts strategic review after UK green policy changes Reuters - UK Focus - Tue, Jul 28, 2015 08:15 BST

    British power producer Drax , which has converted some of its power plant capacity to run on cleaner biomass, has started a strategic review of its business after the government indicated changes to renewable energy subsidies. Drax, which owns one of Britain's largest power stations, is expected to take a 30 million pound …

  • Power producer Drax starts strategic review Reuters - UK Focus - Tue, Jul 28, 2015 07:24 BST

    British power producer Drax reported an 18 percent rise in first-half core earnings thanks to higher production at its power plant and said it had started a strategic review to re-assess its long-term ...

  • London midday: Stocks bounce as Fed countdown begins Sharecast - Tue, Jul 28, 2015 01:32 BST

    (ShareCast News) - Investors were hedging their bets ahead of the start of a two-day policy meeting from the US Federal Reserve, with some observers expecting the post-meeting statement to be tweaked should ...

  • FTSE 100 movers: Reckitt Benckiser, Randgold, Centrica Sharecast - Mon, Jul 27, 2015 19:10 BST

    (ShareCast News) - Reckitt Benckiser bumped up its target for like-for-like revenue growth and investors did the same with stock in the consumer goods giant. Pre-tax profit for the six months ended 30 ...

  • (ShareCast News) - UK economic growth accelerated in the second quarter compared to the previous three months, according to forecasts.

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