UK Wealth Fund Pledges £600 Million to Iberdrola to Upgrade Grid
The UK's National Wealth Fund, along with other investors, is investing more than £600 million ($797 million) as part of a broader funding plan for the country's grid to fortify infrastructure needed for the clean-energy transition.
The money will be used to upgrade the electricity network to accommodate changes in the coming years from a growth in renewable power generation, including wind farms in Scotland, according to a statement on Thursday.
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23 minutes ago
- Yahoo
UK Dividend Stocks: Livermore Investments Group And 2 More Top Picks
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Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Livermore Investments Group Limited is a publicly owned investment manager with a market cap of £79.54 million. Operations: Livermore Investments Group Limited generates revenue of $12.91 million from its equity and debt instruments investment activities. Dividend Yield: 6.5% Livermore Investments Group's dividend yield of 6.53% is attractive, ranking in the top 25% of UK dividend payers. However, its dividends have been volatile over the past decade and are not well covered by earnings due to a high payout ratio of 106.2%. Despite this, cash flows cover dividends with a cash payout ratio of 39.9%. Recent earnings showed a decline to US$6.59 million from US$13.89 million last year, impacting sustainability concerns. Navigate through the intricacies of Livermore Investments Group with our comprehensive dividend report here. 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CNN
25 minutes ago
- CNN
Analysis: Western diplomats welcome two-week breather to ‘explore what is possible' on Iran's nuclear program
European negotiators are welcoming US President Donald Trump's announcement that he will make a decision on US military action in Iran within two weeks, telling CNN it offers 'breathing space' and 'a diplomatic window' that could get Iran back to the negotiating table. Speaking ahead of nuclear talks between top European and Iranian officials in Geneva, Switzerland, one Western European diplomat told CNN that 'ideas' would be presented to Iran 'to see if there is room for maneuver and to explore what is possible.' The diplomat refused to be drawn on specifics but reiterated that the crux of the matter remained Iran's controversial uranium enrichment program and that the talks would focus on 'what kind of compromise would be feasible' on that issue. But enrichment — which Iran says it needs for peaceful purposes, while also manufacturing large quantities of near-weapons-grade material — is a major sticking point, with the Trump administration vowing that any agreement with Iran would have to entirely prohibit the country from enriching any nuclear material. For decades, Iran, which denies it intends to build a nuclear weapon, has categorically refused to give up its capabilities — instead plowing billions of dollars into refining the technology and constructing vast enrichment facilities, like the secretive Fordow installation, which is built deep underground inside a mountain. After launching its first wave of strikes on Iran, Israel pointed to a recent report by the International Atomic Energy Agency, which acknowledged Iran is enriching uranium to a higher level than other countries without nuclear weapons programs, in violation of its nuclear non-proliferation obligations. But after more than a week of intensive Israeli airstrikes, which has seen Iran lose large parts of its enrichment program, the Islamic Republic's hardline calculations may eventually change, the Western European diplomat told CNN. 'Because Iran is now under immense military pressure, it might run out of options, and their nuclear capability is being degraded,' the diplomat said. Until Trump's decision to allow diplomacy another shot, the Geneva talks had looked like a European sideshow, with the US seemingly poised to join with Israel in the destruction of Iranian nuclear facilities. The meeting, between the EU's foreign policy chief, alongside the British, French and German foreign ministers and their Iranian counterpart, is now taking on greater significance, setting the stage for next steps and possibly acting as a bridge between Iran and the United States. But there is an underlying fear in Geneva that the reinvigorated talks here, the first formal meetings with Iranian representatives since the escalation of the Israel-Iran conflict, will still go nowhere. Even Trump's announcement of a two-week window may be a ploy by the mercurial American president to play for time, the Western European diplomat told CNN, while US military forces are assembled and readied for the 'big gamble' of a military intervention that 'could inflame the region.' 'It's impossible to read anything Trump says because there is a daily barrage of statements,' the diplomat added.
Yahoo
28 minutes ago
- Yahoo
High street hit as retail sales slump in month after "awful April" bill hikes
Retail sales fell sharply in May in the month after consumers were hit by a raft of 'Awful April' higher bills that bit deeply into household budgets. Latest figures from the Office for National Statistics show the volume of sales fell 2.7% in May, the biggest monthly decline since December 2023. It was the first monthly fall in the year and follows a rise of 1.3% in April. The downbeat figures will come as a blow to the high street after a relatively robust start to the year and raise fears that that the April bill increases - on essentials ranging from energy to mobile phones - will hit the sector hard over the coming months. Supermarkets saw a particularly big fall with volumes down by 5% following growth of 4.7% in April boosted by fine Spring weather. This was the largest monthly fall since May 2021. Retailers contacted by the ONS spoke of 'of inflation and customer cutbacks, alongside reduced sales of alcohol and tobacco products.' Food inflation rose to 4.4% in the year to May. Non-food stores saw a smaller fall of 1.4% over the month with fashion and household goods stores such as hardware, paints and glass retailers taking the biggest hit. According to the ONS retailers 'mentioned reduced footfall and consumers having completed home projects earlier than usual this year because of good weather, leading to lower sales in May.' Online sales were down by 1%. On an annual basis overall retail sales volumes fell by 1.3% over the year to May 2025. They are still 2.7% below pre-pandemic levels in February 2020. Charlie Huggins, manager of the Quality Shares Portfolio at Wealth Club said: "Cracks in consumer spending may finally be starting to appear - retail sales volumes came in much worse than expected in May. 'The sales decline was broad based with every category seeing weakness and online spending also falling. 'Food sales were especially weak, giving up all their gains in April, and a bit more. Clothing also had another weak month suggesting that consumers may be cutting back on discretionary purchases. 'It's only one month, but these figures do not paint a great picture. Cracks in the UK economy are starting to appear and consumers are starting to feel less confident. This will intensify pressure on the Bank of England to cut rates sooner rather than later." Sagar Shah, Associate Partner at consultants McKinsey & Company said: "Even the second sunniest May on record couldn't stop retail sales slipping into the shade, down 2.7%. This is the first month this year that retail figures have fallen. 'The caution could in part be attributed to food inflation being at the highest level since February 2024. And, other fiscal pressures that retailers are facing that could potentially be impacting promotions. ' Oliver Vernon-Harcourt, head of retail at Deloitte, said: 'For the first time this year, retail sales fell more than expected, as two bank holidays and further good weather were not enough to entice spending. 'A late Easter combined with the sunniest April on record brought some seasonal sales forward, meanwhile continued inflationary pressures from food, furniture and household goods hampered sales volumes. 'Overall, consumers remain cautious in the face of persistent inflation, increased utility costs and ongoing geopolitical uncertainty. While this transpired into fewer purchases in May, there is a broader picture of improving household finances. 'Consumers have been saving at one of the highest levels on record, and with robust real wage growth, this could generate some helpful tailwinds for the retail sector throughout the rest of 2025. 'With warm weather set to continue, retailers will hope to see a boost from the sale of summer food, clothing and outdoor offerings, resulting in a return to growth in the months ahead.' Error in retrieving data Sign in to access your portfolio Error in retrieving data
