Peru raised interest rates for the first time in nearly four years to curb an inflation spike fueled by rising food and energy prices.
Polling shows U.K. voters quite like data centers. But MPs near developments are starting to worry.
The UK has a shopping list of sectoral agreements it wants to come away with from next week's key and long-delayed EU-UK summit, part of the 'small steps' in a path that could eventually lead to membership.
Bond traders are betting that the planned $5.9 billion takeover of Citgo Petroleum Corp., Venezuela’s most valuable overseas asset, will be derailed as the company reaps a windfall from the surge in oil prices.
Oil prices popped Thursday, after the latest comments from President Donald Trump raised worries that an end to the U.S.-Iran war was not in sight.
Despite John Healey’s defiance, the economy faces threats from a tech slowdown and energy bills this winter AI helps UK economy grow at fastest pace for more than two years The forecasters were clear when John Healey became chancellor in July: Britain’s resilience to the war in the Middle East would not last. The global economic headwinds were too strong, inflation was beginning to rise and growth would slow to a trickle. Four months into the job, the economy is continuing to defy expectation...
Oil prices moved slightly lower today after recovering from earlier losses, as persistent geopolitical tensions in the Middle East and Russia offset pressure from rising crude output.
Benin has rejoined the ranks of West Africa’s oil-exporting states, with its first crude oil cargo headed to Europe from an offshore field that had been dormant since the late 1990s.
It is built of wood, resembles an Ikea and its power is totally renewable. Plus, it was built with the local community in mind. Is this facility in Falun the best datacentre in the world? ‘It was pretty cool, when they were building it. It looked like a very large Ikea,” says John Wernvik, of EcoDataCenter. He is giving me a tour of their facility in Falun, Sweden, which could lay claim to being the world’s greenest datacentre – although to many, that is a contradiction in terms. One differen...
GDP ‘grew robustly’ by 0.7% in third quarter and by 0.2% month on month in September despite high oil prices AI helped the UK defy expectations – but will Britain’s resilience fizzle out? Business live – latest updates The UK economy grew by 0.7% in the third quarter, its fastest expansion in two and a half years, as the rollout of AI services increased activity. The Office for National Statistics reported that the economy “grew robustly” in the July to September quarter, almost entirely due...
Gas bills will increase by about 5% from 1 December, Island Energy announces.
A rebound in technology stocks faded as traders confronted a leadership crisis at Nvidia Corp., with rising oil prices adding to the pressure on equity markets and sending bonds lower.
Mark Bowman, Vice President, Policy & Partnerships, EBRD; Daniel Calderon, Co-Founder & Managing Partner, Alcazar Energy Partners; and Halil Demirdağ, Chairman, Smart Solar Technologies and President, GENSED discuss accelerating renewable energy deployment with Bloomberg Philanthropies' Antha Williams at Bloomberg Green at COP31 in Antalya, Türkiye. (Source: Bloomberg)
Data-center developers are increasingly turning to so-called behind-the-meter power generation to bypass years-long waits for grid connections and get their facilities running sooner. Ed Hirs, Energy Fellow at the University of Houston, discusses the energy sector, growing need for data-center power, and what government officials in Texas, and around the US, are doing about it. (Source: Bloomberg)
OPEC+ crude oil production jumped in October, led by a sharp increase in output from Saudi Arabia despite continued disruption to shipments through the Strait of Hormuz caused by the Iran war.
Pump prices stay stubbornly high as leading bank official warns energy costs are likely to remain ‘elevated’ Business live – latest updates The price of diesel on UK forecourts remains stubbornly close to October’s record high of £2 despite a sharp fall in oil prices. A litre costs an average of 197p, according to the AA, which described the situation as “dismal”. By contrast, petrol has fallen 6p to 168p from the peak of 174.7p in early October. That was the highest level since August 2022....
Households struggling to stay warm could get a free electric blanket or heated throw from their energy supplier. The help comes as the first cold-health alert of the winter is issued for parts of England. Octopus Energy, OVO Energy and EDF offer help that can include blankets, heated throws and other household items. The support could help eligible customers keep warm as temperatures fall and health officials warn of risks to vulnerable people. A yellow cold-health alert covers the North West...
Higher energy prices have pushed the rate of inflation to 4.3% for the 12 months to October, new CSO figures show.
Oil prices rose about 2% today after Iran's security chief said Tehran would not allow any enriched nuclear material to leave the country, feeding supply worries that lifted prices off two-month lows hit the previous session.
Millions of Britons will struggle to pay for household bills and food this winter, according to newly released figures from Christians Against Poverty. The debt charity, which provides free face-to-face debt advice, emergency food shops and energy top ups, jobseeker support and money coaching to households in crisis, has launched an urgent appeal to help the UK’s most vulnerable survive winter. The Christians Against Poverty Christmas appeal reveals the stark reality that Britain's poorest ho...
Prices rose by 0.4% over the month, driven by increases in shelter, food and energy costs.
A gas-fired power station was paid over £1m an hour to keep the grid running yesterday after wind output plummeted. Wind power slumped between Monday last week, when it made up 28 per cent of the energy mix, to just two per cent a week later. This meant that grid operator Neso had to pay gas power stations to step in and keep the lights on, with costs reaching up to 10 times the average. One gas plant, Langage Power Station in Devon, received the equivalent of £1.4million an hour on Monday ev...
Oil prices have fallen to their lowest level in months as hopes grow for an end to the US-Iran conflict. Comments from President Donald Trump prompted a further drop after a week of falling prices. Brent crude fell below $90 a barrel on Tuesday for the first time since August. It dropped roughly three per cent during morning trading to around $89.20. The fall followed Mr Trump's remarks at a White House press conference on Monday evening, when he suggested the war could end soon. Mr Trump sai...
Oil prices slid about 2% to fresh two-month lows today after US officials downplayed the need for additional military action against Iran, easing fears of additional Middle East supply disruptions.
Supermarket price rises have picked up again as households face higher winter energy bills. Shoppers are also adding emergency supplies to their baskets following a Government campaign. Grocery prices were 2.6 per cent higher in October than a year earlier, up from an annual increase of 2.5 per cent the previous month, according to Worldpanel by Numerator. Fraser McKevitt, head of retail and consumer insight at Worldpanel, said: "While prices are rising at a slower rate than at the beginning...
A father-of-two has cut his family's energy bills by as much as £840 a year after making what he called a "no-brainer" home upgrade. His experience comes as more households consider changing how they heat their homes amid rising energy costs Jason Kinns says switching from LPG heating to a heat pump was a "no-brainer" after a £9,000 government grant covered most of the installation. The 44-year-old lives with his wife and two young children in a three-bedroom semi-detached home in Dunton, nea...
Millions of households could save up to £65 on winter energy bills with a boiler adjustment that takes just minutes. The change could help cut gas use, according to Octopus Energy. Customers with combi boilers are being encouraged to check their heating flow temperature and consider lowering it to between 55 and 60 degrees Celsius. This setting controls how hot the water gets before it travels from the boiler to the radiators. Most combi boilers leave the factory with flow temperatures set be...
From high oil prices and data centers to tariffs and mounting debt, economic concerns played a key role in the crushing defeat of President Donald Trump's Republicans. So can the Democrats now make a difference?
The US is reportedly considering ways to convert "dark tankers" into legitimate vessels, allowing them to transport crude oil that is not subject to sanctions.
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