Hints and tips:
...Recent staff defections have included John Erle-Drax and Geoffrey Parton, at Marlborough for more than 50 years each when they left in 2023 to work with another alum, Frankie Rossi....
...Drax, however, interpreted the index change quite differently....
...The UK’s Drax, which burns wood biomass pellets, has already agreed its power prices for this year, at lower prices. It is almost fully hedged on its own fuel needs for next year....
...Dorothy Thompson, one of the few women at the top of the UK energy sector, is leaving her role as boss of Drax....
...Morgan Stanley was underwhelmed by Drax’s basic dividend of around 3.6 per cent when sector peers such as SSE are yielding in excess of 6 per cent....
...modern, responsible companies, let alone a large internet corporation such as Yahoo, to still be using it,” said Dave Palmer, director of technology at cyber security company Darktrace, which counts BT and Drax...
...Drax was not among those that replied,” it said....
...The world’s biggest sovereign wealth fund is no longer able to invest in a slew of companies including Drax in the UK, AES, Dynegy and FirstEnergy in the US, Reliance Power and Tata Power in India, and multiple...
...Drax, the power station owner, gained 5.9 per cent to 287.4p as forecast upgrades followed a contract win with National Grid announced on Friday. HSBC saw an 8.7 per cent boost to 2016 earnings....
...Down in the FTSE 250, power station Drax has seen earnings crash in line with guidance, bookmaker Ladbrokes has chalked up an annual statutory loss of £43.4m and Meggitt has suffered a profits slide of 6...
...FastFT has corporate news from Mitchells & Butlers, Drax, De La Rue, John Menzies and Shaftesbury....
...Just two weeks ago, the Drax power company said it was pulling out of a £1bn UK climate-change plan because it was now too risky to proceed....
...The government U-turn was seen to undermine the economics of Drax converting a fourth turbine to burn biomass, which analysts had valued at around 100p per share....
...Drax may take legal action, hard though this will be to win....
...Immingham has invested £80m in concrete containers to handle wood pellets from the US that will be burnt at Drax, the UK’s biggest coal-fired power station, as it tries to reduce emissions....
...Drax was up 2.9 per cent to 672.5p after Goldman Sachs upgraded to “buy” with a 900p target price....
...In Grimsby and Immingham, growth at the port is coming from oil for refineries, coal, car imports and exports and renewables, with biomass imported for power stations such as Drax and boats servicing offshore...
...Drax faded 1.9 per cent to 615p after Liberum Capital removed the power station owner from its buy list....
...(Financial Times) Government pledges Drax biomass support: A £225m project to convert half of Britain’s biggest coal-fired power station into a biomass plant is to receive a government guarantee as part...
...Drax closed 0.6 per cent higher at 547½p. Pennon was up 1.1 per cent to 719p and United rose 2.1 per cent to 614p....
...Drax , the power station owner, rose 2.3 per cent to 556.5p on another reheat of gossip it might be a takeover target for Centrica , down 1.3 per cent to 312.5p....
...Power station owner Drax took on 1 per cent to 510p. The shares were about 35 per cent too low given Drax’s strategic value and its opportunity to convert to biomass, BarCap said....
...executive pay by handing a multi-million- pound bonus to its Chief, Sir Martin Sorrell - An ambitious plan to burn plants at two giant biomass stations has been scrapped, but wood chips will still fire Drax...
...The move “may make Drax’s [biomass] conversion plans just about feasible”, said Investec. Betfair was up 2.6 per cent to 745p....
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