Live updates

Drax withdraw from carbon capture project

Drax Power Station have announced that they will be withdrawing as a partner and halting investment in a carbon capture project.

Drax Power station is withdrawing funding for a carbon capture project Credit: Press Association

The two year project is being taken forward by the Capture Power partnership – made up of Drax, Alstom and BOC and is looking at the potential to capture up to 90% of carbon emissions from a new coal fired power station and safely store them beneath the North Sea. The project is due to conclude during the next 6-12 months.

Drax has also confirmed that while at that point it would cease to commit further investment, it will continue to make the site owned by Drax, along with the infrastructure at the Power Plant, available for the project to be built.

We remain fully committed to completing what we’ve signed up to – the completion of a study into the feasibility and development of world leading technology that could result in dramatic reductions in carbon emissions produced by power stations and heavy industry.

We are confident the technology we have developed has real potential, but have reluctantly taken a decision not to invest any further in the development of this project. The decision is based purely on a drastically different financial and regulatory environment and we must put the interests of the business and our shareholders first.

We will focus our resources on the areas which we can deliver best value, particularly working with Government to explore the potential for converting a fourth generating unit to run on sustainable biomass.

Drax still believes this project has great potential and we have announced that the site at the Drax Power Plant, along with our existing infrastructure remain available for the project to be built.

– Pete Emery, Drax


Chancellor announces Chinese investment for Yorkshire

Chancellor George Osborne has announced that Chinese investors are to plough millions into two major developments in Yorkshire.

George Osborne has been on a trade mission to China Credit: Press Association

Mr Osborne revealed, on a trade mission to China, that the Hualing Industry and Trade Group has agreed to invest in the extension of the Thorpe Park housing , office and retail development on the edge of Leeds and the second phase of the Sheffield Digital campus.

Campaigners gear up for second windfarm fight

Campaigners say they will fight proposals for a windfarm on a site near Grantham that's located just under two miles away from land on which another farm was recently rejected. It is just under six months since the development known as 'Temple Hill' was rejected - but now a different company has put forward even bigger plans for nearby Fulbeck Airfield. The firm argues the turbines will benefit the community financially, campaigners though say will fight again. Kate Hemingway reports:

Siemens look for local talent in recruitment drive

Looking for local talent

Siemens has advertised more than 60 jobs for its offshore wind factory in Hull.

The roles on offer include production operatives and team leaders who will work on the shop floor. Around 1,000 people are expected to be employed when the £310 million site in Alexandra Dock opens in 2017. People must register to attend the events by going to the Green Port Hull website and following the link here

We have a clear vision of what we want to achieve – a world-class manufacturing and harbour operation here in Hull, staffed and operated in the main by local talent. The construction is well underway and we plan to begin production of blades just a year from now.

Our recruitment programme is also gathering pace. We have already recruited many of the senior management team and engineering experts and the roles advertised today are the first for team leads and production operatives. The opportunities we have promised are now coming thick and fast.

– Finbarr Dowling, Siemens’ Hull Project Director,


Morrisons to close North Yorkshire store

Northallerton store set to close

Supermarket giant Morrisons has announced that its Northallerton store in North Yorkshire is among the 11 it is planning to close across the country.

The closure announcement was made last week, following the revelation that half year profits to August had fallen by nearly 50% compared to the same period last year. But the Bradford-based chain did not disclose which stores were to go, saying the decision had only just been announced to staff.

The full list has now been revealed, with most of the closures in the North of England, Morrisons' traditional stronghold. Supermarkets in Salford, Manchester and Sunderland will all close, while the Midlands, the West Country and London have been hit too. The move will result in a one-off cost of £20 million and is in addition to the closure of10 supermarkets which shut earlier this year.

We have looked extremely carefully at whether the stores can be turned around but unfortunately we cannot see a way of making them viable. We are therefore proposing their closure. We are consulting with colleagues and unions and we will be discussing how to reduce redundancies and redeploy colleagues around our business.

– Morrisons

Investment expert: Morrisons has failed to deal with changes in market

Morrisons workers throughout the Calendar region are fearing for their jobs after the Bradford-based supermarket announced it is closing a further 11 supermarkets. Up to 900 jobs are said to be at risk.

It follows the announcement that half year profits to August have fallen by nearly 50% compared to the same period last year.

Investment manager David Battersby from Redmayne Bentley stockbrokers explains where it has all gone wrong:

Morrisons boss expresses 'great regret' at store closures

The Chief Executive at Morrisons, the Bradford-based supermarket, has expressed his "great regret" at the closure of 11 stores, which will put 900 jobs at risk.

The firm's suffered a 35 per cent drop in pre-tax profits in the six months to August.

"This is a difficult decision but one which we cannot see any way through to make those stores viable."

– David Potts, Chief Executive

The closures are in addition to 10 supermarkets which shut earlier this year.

Mr Potts said the closures being set out today were mainly smaller-sized supermarkets. He would not disclose the location of the sites straight away with the decision only just being announced to staff.

The move will result in a one-off cost of £20 million.

Morrisons boss: Boosting trading will be 'a long journey'

Credit: Press Association

The Chief Executive of Morrisons has outlined his priorities for the Bradford-based supermarket after it confirmed it plans to close 11 stores, putting 900 jobs at risk.

“The immediate priority is to deliver a better shopping trip to stabilise trading performance. Our six strategic priorities will then deliver improvement in the core supermarkets, where we have the greatest opportunity. It will be a long journey. We approach the challenge with energy, confidence and many strengths, particularly our strong balance sheet and cash flow, which enables investment in improving the customer shopping trip.”

– David Potts, Chief Executive
Load more updates