Centrica unveils plans to cut 5,000 jobs, reshuffles board to accelerate restructuring
The British Gas owner is also planning to reduce its senior leadership team by half to create a "flatter, less bureaucratic organisation"
Company
Centrica PLC
LON:CNA
Centrica plc is an integrated energy company operating predominately in United Kingdom and North America. In the United Kingdom, it operates three segments: upstream, downstream and storage.
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Vodafone, TUI and Compass among key updates for coming week
The coming week will also see the latest UK GDP data as well as inflation and retail sales figures from the US
Centrica upgraded as Credit Suisse says coronavirus impacts now ‘priced in’
The Swiss bank moved its rating to ‘outperform’ from ‘neutral’, with a price target set at 70p (current price: 31.95p).
Centrica double upgraded to ‘overweight’ as Barclays says firm ‘could emerge relatively stronger’ from pandemic disruption
The bank said while the British Gas owner was facing a “very challenging 2020”, competitors could be even worse off, potentially reducing competition in the UK's energy market
British Gas owner Centrica makes interim chief executive permanent boss
Chris O'Shea is replacing Iain Conn, who left the energy company last month
Utilities shares 'not insulated' from coronavirus risks, analysts say
UBS and RBC Capital Markets both downgraded British Gas owner Centrica, though were both positive about National Grid
British Gas owner Centrica weak as it cancels dividend as coronavirus pandemic hits gas demand
Chris O'Shea, Centrica's interim group chief executive, praised the efforts of the utility's workforce during the crisis
Wheway or the highway: Centrica's new chairman switches CEO
Chief financial officer Chris O’Shea will take over as interim chief executive
Centrica dividend still verging on "too good to be true"
“Centrica has a plan to get back on track but the journey is likely to be very bumpy,” said one analyst
Centrica posts big loss after oil and gas write-offs
The new year will see lower adjusted operating cash flow and higher net debt due to low commodity prices
UBS warms to Centrica, upgrades to ‘buy’ as it predicts 25% upside in the shares
The Swiss bank said there were “significant corporate catalysts” for growth at the British Gas owner, particularly with the UK’s retail market improving
Centrica sells Norfolk power plant for £105mln
The plant was mothballed in 2012 but recently had a new gas turbine installed.
Centrica, SSE, National Grid dividends to be capped by regulator
Shareholders will receive dividends based on financial market conditions, while customer prices will be based on competition rather than monopoly
Centrica takes a blow to sale plans with latest drill result
Centrica plans to divest its 69% stake in Spirit Energy, partner with Hurricane at the Greater Warwick Area where well test did not show expected results
Centrica's problems underlined by Npower retrenchment
The company's rate of customer loss has been decreasing, but tough competition and political headwinds remain
Centrica rallies after mixed trading update
Adjusted operating cash flow is expected to be in the lower half of the £1.8-£2bn range and year-end net debt will be between £3bn and £3.5bn
Centrica wins appeal over Ofgem price cap
The owner of British Gas requested a judicial review over a decision by Ofgem to change the dates within which wholesale energy prices are used to calculate the price cap, a move it said cost it £70mln
Centrica a “value wildcard”, says Jefferies as it ups to buy
The US broker said the shares were trading at a 50% discount to the sector after a torrid 2019 marred by profit warnings and a savage dividend cut
Centrica chief executive to depart after slump into losses and dividend cut
The utility posted a half-year net loss of £550mln compared to a profit of £238mln