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Search resuls for: "Centrica"


8 mentions found


☆ Twitter gives big advertisers the excuse they need
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Nov 11 (Reuters Breakingviews) - Twitter’s new owner Elon Musk is making it too easy to hit the pause on ad spending. loadingSocial media companies are no stranger to ad boycotts. That’s because Facebook and Instagram rely more on small business advertising, which is a diverse scattered group. Twitter reaps almost all its revenue from big brands, and those big advertisers are already looking for an excuse to put the brakes on spending. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Nio speeds then sputters on path to profitability
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
Yet costs accelerated at breakneck speed, causing its net loss to increase nearly five times from a year earlier to nearly $600 million, William Li’s $17 billion company reported on Thursday. Li told analysts he expects the automaker’s core business to break even in the fourth quarter of 2023, without offering detail. His optimism is undermined, however, by signs the company has lost control of costs. Nio can’t be blamed for rising battery costs or China’s zero-Covid campaign, as they are out of Li’s control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Tiny crack opens in China’s zero-Covid wall
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
HONG KONG, Nov 11 (Reuters Breakingviews) - Beijing announced minor relaxations of its pandemic policy on Friday, including shorter quarantine periods and more narrowly targeted lockdowns. Rumours of relaxations surfaced earlier this month, so the latest announcement lends credence to arguments that President Xi Jinping will return to economic pragmatism. Pressure to revive domestic consumption is becoming acute after the critical export sector suddenly contracted in October. If Beijing can convince sceptical retirees to get the jab, China might avoid a surge of nursing home deaths as observed in Hong Kong. To be sure, none of these marginal measures will do much to revive consumption, production or property investment.
☆ SoftBank buyout goes from impossible to improbable
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
The $74 billion Japanese investor logged earnings of $21 billion in the three months to end September after trimming its stake in Alibaba (9988.HK). It offsets some gloom as technology valuations plummet; writedowns of its punt on crypto exchange FTX will follow. Expectations that these repurchases are a prelude to a buyout have helped lift SoftBank’s shares by one quarter in the past month. But any further sales of Alibaba or other assets would give SoftBank the firepower to keep buying out minorities. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Centrica gives ammo to UK windfall tax fans
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +2 min
The chief executive of 5 billion pound Centrica (CNA.L) on Thursday outlined plans for a 250 million pound share repurchase, following in the footsteps of chunky payouts by BP (BP.L) and Shell (SHEL.L). With the UK already windfall taxing North Sea oil profits, the risk for O’Shea is that it emboldens UK Prime Minister Rishi Sunak to hit power generators as well. Nearly half of Centrica’s 25 billion pounds of revenue this year, based on Refinitiv data, will come from British Gas, which sells power to Britons. But a strong performance from Centrica’s electricity and gas production, and from its trading arm, means O’Shea has cause to be generous. Generation provides a much larger chunk of 2.2 billion pound renewable energy group Drax’s (DRX.L) top line.
☆ Centrica reopens UK's Rough gas storage site in time for winter
  + stars: | 2022-10-28 | by ( Nora Buli | ) www.reuters.com   time to read: +2 min
Oct 28 (Reuters) - British Gas owner Centrica (CNA.L) has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday. Before it was closed, Rough represented more than 70% of UK storage and supplied 10% of peak winter demand. However, after Russia’s invasion of Ukraine and growing concerns over gas supplies this winter, Centrica upgraded the facility and started refilling the site in early autumn. Even at 20% of previous capacity, Rough is the UK's largest gas storage site and adds 50% to the UK's gas storage capacity, though this lags behind European countries, Centrica said. The long-term aim is to turn the Rough gas field into the largest long-range energy storage facility in Europe, capable of storing both natural gas and hydrogen, Centrica said.
☆ UK trial will inject hydrogen into a gas-fired, grid-connected power station
  + stars: | 2022-10-26 | by ( Anmar Frangoul | ) www.cnbc.com   time to read: +2 min
Angel Garcia | Bloomberg | Getty ImagesHydrogen will be injected into a gas-fired, grid-connected power station during a trial project set to last 12 months, in the latest example of how major companies are looking to integrate the energy carrier into their operations and existing infrastructure. In a statement earlier this week, London-listed Centrica said the hydrogen would be injected by Centrica Business Solutions into a gas-peaking plant in Lincolnshire, east England. "It's anticipated that during the trial, getting underway in Q3 2023, no more than three per cent of the gas mix could be hydrogen, increasing to 20% incrementally after the project," Centrica said. "Longer term, the vision is to move towards 100% hydrogen and to deploy similar technology across all gas-fired peaking plant[s]." If the electricity used in this process comes from a renewable source such as wind or solar then some call it "green" or "renewable" hydrogen.
☆ Factbox: Europe's alternatives if Russia shuts off gas supply
  + stars: | 2022-10-20 | by ( ) www.reuters.com   time to read: +7 min
Germany halted certification of the new Nord Stream 2 gas pipeline from Russia because of the Ukraine war so it never went into operation. Germany, Europe's biggest consumer of Russian gas, can import gas from Britain, Denmark, Norway and the Netherlands via pipelines. Southern Europe can receive Azeri gas via the Trans Adriatic Pipeline to Italy and the Trans-Anatolian Natural Gas Pipeline (TANAP) through Turkey. Liquefied natural gas (LNG) imports to Europe have increased from producers such as the United States, Qatar and other countries. OTHER OPTIONS TO COPE WITH A GAS SUPPLY CRUNCH?
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