Oil giant Royal Dutch Shell has today reported an almost doubling in profits for the 2010 year. The Anglo-Dutch firm, which is Britain’s second largest oil company, said profits soared 90% to $18.6 billion (£11.5 billion) compared with $9.8 billion in 2009. The rise was attributed to higher oil prices and rising output. Production levels [...]
Beleaguered oil giant BP saw it shares surge 6% today after speculation mounts that rival Royal Dutch Shell is considering a takeover bid. Shares in the firm closed at 492.90p on London’s FTSE 100 – which, incidentally, closed at just above the key 6,000 mark – its highest level since June 2008. Meanwhile, Shell has [...]
Oil giant Royal Dutch Shell has today announced third quarter profits rose 7% to $3.5 billion (£2.2 billion) – up from $3 billion last year. However, the group said net earnings dived 21% in the three month period, compared with the previous quarter. The company said it produced 3.058 million barrels of oil per day [...]
Exxon Mobil, which is the world’s largest oil company, has today announced profits nearly doubled in the April to June period – easily exceeding analysts’ expectations. The oil giant said net earnings rose to $7.56 billion, or $1.60 a share, against $3.95 billion, or 81 cents a share, in the same period a year earlier. [...]
Oil giant Royal Dutch Shell has today announced second quarter profits almost doubled after completing its restructuring programme ahead of schedule. Shell posted profits of $4.5 billion (£2.9 billion) – a rise of 94% on the $2.3 billion reported a year ago. The Anglo-Dutch firm, which is Britain’s second largest oil company, has undergone a [...]
Royal Dutch Shell has today reported a 49% rise in first quarter profits as a result of higher oil prices. The oil giant said profits totalled $4.96 billion (£3.2 billion) in the three month period – up 49% on the same period a year ago and much higher than the $1.2 billion profit in the [...]
Oil giant Royal Dutch Shell has today announced it will axe a third of its global petrol station network and shed a further 1,000 jobs by the end of next year, as part of its ongoing cost cutting programme. The Anglo-Dutch firm, which is Britain’s second largest oil company, has been hit by a slump [...]
Shell has again been criticised for its poor environmental record in the Niger Delta. A new report, published this week, slams Shell’s failure to take responsibility for limiting the environmental impact of its activities in the region. The, published by the Ecumenical Council for Corporate Responsibility (ECCR), examines five case studies carried out by NGOs [...]
Europe’s third largest oil company, Total, has posted a 54% drop in third quarter net profits due to weaker oil prices. In the three months to September, the French oil giant’s profits were €1.9 billion (£1.7 billion), compared with €4.1 billion in the same period a year ago. However, this was slightly ahead of the [...]
Exxon Mobil is the latest oil giant to report its third quarter profits and has announced a 68% fall in net profit to $4.73 billion, compared with $14.8 billion a year ago. Exxon, which is the world’s largest oil company, has been hit by weaker oil prices. Although oil prices have increased recently to around [...]
Royal Dutch Shell has today posted a 73% fall in profits for the July to September period. The Anglo-Dutch oil giant warned that the outlook remains “very uncertain” and according to The Times, is to eliminate 5,000 positions, around 10% of its workforce. The group said its cost-cutting exercise means that 5,000 staff would leave [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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