‘Cleaner and greener’ £5 notes hit the streets

The Bank of England has started circulating the new £5 notes that are said to be more environmentally friendly. The ‘cleaner, safer and stronger’ banknotes are made from polymer, a thin, flexible plastic material and feature Winston Churchill. According to the Bank, polymer is resistant to dirt and moisture and lasts around 2.5 times longer […]

Bank of England investigates ‘carbon bubble’ risk

The Bank of England is conducting an investigation into the risk of fossil fuel companies causing a major economic crash if future climate change rules make their assets worthless. The concern around the so-called “carbon bubble” is that if governments across the globe meet their target of limiting global warming to 2°C by cutting emissions, […]

Mark Carney reckons most fossil fuels “un-burnable”

Governor of the Bank of England Mark Carney appears to agree most fossil fuels can’t be used if the world is to avoid climate change. At a World Bank event on Friday, he is quoted as saying: “The vast majority of reserves are unburnable.” This is a reference to the idea of a so-called carbon bubble […]

UK to introduce ‘greener’ plastic banknotes in 2016

Plastic banknotes which are believed to be more environmentally friendly than the current cotton paper currency are set to be issued in the UK in the next three years. The Bank of England made the announcement this week following a three year research programme and public consultation. The new polymer banknotes (pictured) will replace the […]

UK mulls switch to ‘cleaner and greener’ banknotes

The Bank of England is considering switching from paper to plastic banknotes, which is said to be more environmentally-friendly. Research conducted by the Bank for the last three years showed printing on polymer would bring more benefits compared to the cotton paper currency that have been in circulation for more than 300 years. Polymer banknotes […]

“All eyes” on Bank of England boss for effect on gas prices

“All eyes” will be on the new Governor of the Bank of England tomorrow morning in case he announces a new policy direction which could have a knock-on effect on gas prices, according to energy market experts. Whatever the Bank’s new Canadian boss Mark Carney announces during a press conference on inflation targets at 10.30am, […]

SSE unveils new domestic price hike

Scottish energy supplier SSE will be bumping up its household energy prices by an average of 9% from October. Unveiling the “unavoidable” price hike for electricity and gas today, the supplier blamed the move on wholesale prices and the rising cost of transporting energy through pipes and wires, as well as having to pay for […]

Pricey oil will hit profit margins

Business profit margins in the UK are continuing to take a battering because of rising oil prices, according to the latest monthly business trend report from BDO. Despite the “positive news” of rising UK output, the audit firm suggests high oil prices are likely to hit consumer spending power as well as business profit margins. […]

Bank of England notes rise of the energy consultants

Energy consultants are riding a wave of economic growth, according to agents at the Bank of England. The Bank today released its latest monthly report on business conditions in the UK, which notes energy consultancy services were a “source of growth”. This was against a wider backdrop of growth in the services sector, with the […]