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

Washington approves climate bill towards 100% renewables

Washington-approves-climate-bill-towards-100-renewables

The Washington DC Council unanimously approved the “Clean Energy DC Omnibus Act of 2018”, a bold climate bill that includes a commitment to achieve 100% renewable electricity supply all across by 2032

The legislation will go further in establishing a goal to use 100% renewable electricity across the district, meaning all municipal operations, residences, and businesses within DC will be powered entirely by renewable sources – including the White House.

“The nation’s capital is a model for the rest of the nation on climate action, leading the way to reducing greenhouse emissions through smart investments in renewable energy and energy efficiency,” stated Mark Rodeffer, Chair of the Sierra Club DC Chapter.

“The Sierra Club and our environmental allies have spent incalculable time and energy working on this bill and we could not be more gratified by its passage today.” He continued.

Rodeffer further added: “D.C. has ambitious carbon reduction and climate targets, which we were not on track to meet before passage of this bill. But we’ll be on the path to substantial reductions of climate pollution once Mayor Bowser signs this bill.”

The Sierra Club DC Chapter has worked with the DC Climate Coalition to gain support for ambitious climate action from lawmakers, build a diverse coalition of local community groups, and demonstrate broad public support for this bill.

Over the course of this three-year campaign, the coalition has gathered over 10,000 petition signatures. In addition to the requirements for electric utilities to source their supply from 100% renewable sources, the bill also has responsible for other significant measures.

It has increased fees on energy from dirty sources like coal and gas, and has used the revenue to fund energy efficiency and renewable energy programs. It has set up one of the nation’s strongest energy performance standards for existing buildings to maximize energy efficiency. It has also encouraged drivers to purchase electric vehicles, expand electric vehicle charging stations and requires that buses and other large fleets to transition away from fossil fuels and toward renewable electric power.

DC Mayor Muriel Bowser, who has previously pledged to make the US capital carbon neutral by 2050, has 10 days to take action and sign the bill.

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