UK unveils ‘carbon budget delivery plan’ to get back on track for net zero targets

As the UK government prepares for the upcoming budget announcement on November 26, discussions are heating up around potential strategies to address a significant £40 billion budget shortfall. Shadow Chancellor Rachel Reeves is expected to outline her plans, which could have far-reaching implications for the economy and public services. This budget is crucial as it will set the tone for fiscal policy in the coming year, impacting everything from public spending to tax rates.

A new advice roadshow is here to help families reduce their household bills by offering free energy-saving gadgets and expert financial advice. This initiative is important as it not only provides practical tools to save money but also empowers individuals with knowledge to manage their finances better, especially in times of rising costs.

Ed Miliband's announcement of a £1.1 billion annual budget for offshore wind projects has raised concerns among industry experts, who argue that this amount falls short of the estimated £2 billion needed to achieve the UK's green energy targets. This funding is crucial for the development of renewable energy sources, and the perceived inadequacy could hinder progress towards a more sustainable energy future in the UK.

Kepler Cheuvreux has identified three promising clean energy stocks that investors should consider buying. This recommendation comes at a time when the demand for renewable energy solutions is surging, making it a crucial moment for investors to capitalize on the growth potential in this sector. By focusing on these highlighted companies, investors can align their portfolios with the future of energy, which is increasingly leaning towards sustainability.

This week has kicked off on a troubling note for Ed Miliband, the energy secretary, as the collapse of Petrofac puts over 2,000 private sector jobs in Scotland at risk. This situation is significant not only for the affected workers and their families but also for the broader economy, highlighting the vulnerabilities within the oilfield services sector. The potential job losses could have a ripple effect on local communities and raise concerns about the stability of the energy industry in the region.

The recent trade deal between the US and South Korea marks a significant step forward for economic relations, as discussed by James Kim, Chairman of AmCham Korea. This agreement is expected to benefit member companies by enhancing trade opportunities and fostering stronger ties between the two nations. The conversation took place during the 2025 APEC CEO Summit in Gyeongju, highlighting the importance of international collaboration in today's economy.

Indian Oil Corp. is looking to secure up to 24 million barrels of crude oil from the Americas in the first quarter of next year. This move comes as the company prepares for potential disruptions in Russian oil supply due to new US sanctions. This is significant as it highlights the ongoing shifts in global oil markets and the impact of geopolitical tensions on energy sourcing.

Investors are closely monitoring the Bank of Japan's recent decision to maintain its current interest rates, a move that reflects the central bank's cautious approach to economic recovery. This decision is significant as it indicates the BOJ's commitment to supporting growth while navigating inflationary pressures. Market reactions have been mixed, highlighting the ongoing uncertainty in the global economy and the potential implications for future monetary policy.

The Japanese yen has weakened following the Bank of Japan's recent decision, while the dollar maintains its gains. This shift in currency dynamics is significant as it reflects ongoing economic challenges in Japan and could impact international trade and investment flows. Investors are closely monitoring these developments, as a weaker yen may affect Japan's export competitiveness.

The Bank of Japan (BOJ) has decided to maintain its current interest rates, signaling a cautious approach to future hikes. This decision is significant as it reflects the central bank's ongoing assessment of economic growth and inflation trends in Japan. By keeping rates steady, the BOJ aims to support financial markets while remaining vigilant about potential economic shifts. Investors and analysts will be closely monitoring the BOJ's next moves, as they could have substantial implications for both the Japanese economy and global financial stability.

The USD/JPY exchange rate has seen an increase following the Bank of Japan's decision to maintain its policy rate, despite ongoing concerns about high inflation. This move is significant as it reflects the central bank's commitment to its current monetary policy, which could influence market stability and investor confidence in the Japanese economy.