Good morning.
The government has shed light on a controversial gas drilling project in the bucolic countryside of Surrey.
A written statement from Housing Minister Stuart Andrew confirmed that the UK Oil & Gas has been given a three-year license to explore a site in Loxley, near Dunsfold.
It comes even after the bill was twice rejected by the Conservative-led Waverley City Council, while Jeremy Hunt, the Conservative MP for South West Surrey, has also opposed the move.
UK Oil & Gas, which welcomed the decision, has estimated that the site could contain 43 billion cubic meters of gas and drilling will allow it to determine the scope of the reserves.
5 things to start the day
1) The cost of refilling an average car reaches £ 100 as petrol prices rise: the price of refilling a petrol tank is expected to reach £ 100 for the first time today as the cost of living crisis worsens.
2) The UK food supply is “vulnerable” after the permanent closure of the fertilizer plant: the UK food supply is now “vulnerable” after the spiral of energy bills caused the closure permanent use of one of the two major fertilizer plants, farmers have warned.
3) Sunak urged to cut taxes to cope with the slowest growth of any major economy: an influential global think tank has urged Rishi Sunak to consider tax cuts as his forecasts show way to grow more slowly than any other major shadow economy in the war in Ukraine.
4) Households invest more than £ 500m to turn off wind turbines – The cost of shutting down wind turbines rose to a record last year as the UK’s cable network and storage capacity they struggled to keep up with the amount of electricity generated.
5) Euan Blair, worth £ 337 million after its launch is valued at more than £ 1bn: Tony Blair’s son has an estimated £ 337 million fortune on paper after his start -up Multiverse get new investments that increased its value by over £ 1 billion for the former. time.
What happened overnight
Shares of Hong Kong rose at the start of trading this morning, with the Hang Seng index up 0.5%.
The Shanghai Composite Index fell 0.1%, while the Shenzhen Composite Index of China’s second-largest stock market lost 0.2%.
Shares in Tokyo were on an upward trend, with the Nikkei 225 benchmark rising 0.2%.
Arrive today
- Company: CMC Markets, Fuller Smith & Turner, ITM Power, Mitie, Norcros (annual results), AVI Global Trust, RWS (provisional results), British American Tobacco (commercial update)
- Economy: RICS housing survey (UK), trade (China), European Central Bank decision (eurozone), unemployment claims (US)