Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

ENERGY TOP STORIES

Renewables beat coal in German power for first time in 2018

Renewables-beat-coal-in-German-power-for-first-time-in-2018

40% of the country’s electricity mix came from wind, solar, biomass and hydroelectric sources, which is up 4.3% over 2017

It also topped coal generation (38% of the total) for the first time, according to the Fraunhofer research group. The bulk of the clean power came from the onshore and offshore wind capacity—20.4% of total output, and solar—8.4% of total output.

Germany, Europe’s largest economy, is steadily retiring its coal and nuclear power plants as it seeks to cut carbon emissions over the coming decades. The country will reduce greenhouse gas emissions by 40% in 2019, and by 95% in 2050, compared to 1990 levels.

Fraunhofer stated that clean power’s share of Germany’s energy mix is likely to stay above 40% in 2019, according to Reuters reports. Despite critics’ claims that unusually favorable weather boosted solar output in 2018, more renewable power sources are coming online and weather patterns are expected to remain relatively stable.

Countries throughout Europe are finding they can adopt renewables faster than they once thought as renewable energy prices fall, energy storage expands, and system operators manage weeks or even months with 100% renewables on their power grids.

In March last year, Portugal’s renewable electricity generation exceeded the country’s monthly consumption for the first time. Now, the country predicts that renewable will satisfy its mainland electricity needs by 2040, eliminating the electricity sector’s greenhouse gas emissions.

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