Drax Group PLC, a major UK power generation company, saw a significant drop in its share price after announcing an investigation by the Financial Conduct Authority (FCA).
The probe focuses on the company's accounts and its reported source of 'renewable' fuel, specifically the biomass pellets it uses to generate electricity.
This investigation follows long-standing scrutiny and criticism from environmental groups and some politicians who question the sustainability of the company's biomass supply chain.
Critics have argued that the wood pellets, often sourced from forests in North America, are not truly 'green' and that their production contributes to deforestation.
The FCA's involvement brings a new level of regulatory pressure to the company, potentially impacting its eligibility for government subsidies, which are a crucial part of its business model.
The market's reaction reflects investor nervousness over the potential for fines, changes in policy, or a reclassification of Drax's energy sources, which could fundamentally alter its valuation and future profitability.
For the UK, this story is highly relevant as it touches on a contentious issue at the intersection of corporate governance, climate policy, and the country's energy security strategy.
UK retail stocks, including major names like Associated British Foods (Primark) and Kingfisher, experienced a sell-off following a bearish note from Deutsche Bank about a slowdown in discretionary spending.
Medical products company Convatec has seen its shares surge after announcing a new share buyback program of up to $300 million.
B2B technology firm Computacenter has promoted its head of group commercial finance to the chief financial officer position.
The FTSE 100 index reached a new closing high, boosted by hopes of a resolution to the Russia-Ukraine conflict and strong performance from retailers.
Beacon Rise Holdings has named Mark Tavener, the former finance lead at Manolete, as its new chief financial officer.
Nanoco Group has stated that it expects to exceed market forecasts for revenue, a positive signal for the London-listed technology company.
Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA will be lower than expected after a revision to its stock provisions.
Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA for the last financial year will be significantly lower than initially forecast.
London stocks rose on hopes that a diplomatic solution to the Russia-Ukraine war is on the horizon, boosting investor confidence.
The boss of flexible office group IWG has dismissed a 17% fall in the company's share price, calling it 'not rational' and blaming 'machine selling'.
The CEO of flexible office group IWG has dismissed a recent 17% fall in the company's share price, attributing the decline to 'machine selling' by automated trading systems.
Analysts at Berenberg have increased their target price on the bookmaker Entain, stating that the group's valuation remains 'attractive'.
Shares in JD Sports surged after Deutsche Bank raised its price target on the stock, citing the company's strong performance and growth potential.
The UK's financial watchdog has launched an investigation into the financial health and practices of the London-listed engineering and consulting firm Wood Group.
The new owner of Royal Mail, Czech billionaire Daniel Kretinsky, has appointed former UK minister Greg Hands as an adviser.
The owner of British Gas, Centrica, has acquired a 1.5 billion euro stake in Europe's largest liquefied natural gas (LNG) terminal.
The head of National Grid has stated that a recent power outage at Heathrow Airport was not a 'systemic' network issue.
An explainer has been published on 'Pisces', a potential new UK stock market that could provide an alternative to the London Stock Exchange's main market.
UK's main stock index slips 0.42% post-record close, led by Standard Chartered loss and retail woes.
UK stocks hit new highs as investors shake off trade worries; inflation and unemployment rise.
Shares in UK-listed gambling operators fell sharply after market rumours of potential tax increases on the sector in the upcoming budget.
The former CEO of Metro Bank has stepped down from his role, marking the end of his tenure at the challenger bank.
Tens of thousands may seek compensation as Supreme Court allows partial redress for mis-sold car finance.
Former star fund manager Neil Woodford faces a ban from the financial services industry and a substantial fine over the collapse of his flagship investment fund.
The Supreme Court has delivered a landmark judgment on undisclosed commissions in motor finance, which could have significant implications for a potential consumer redress scheme.
London Stock Exchange Group (LSEG) announced robust H1 2025 performance, with significant income growth and plans for further share buybacks.
Official figures reveal that renewable sources provided over half of the UK's electricity for the first time in 2024.
A 48% gender pension gap in the UK is driven by career breaks and part-time work, according to the FCA.
The Financial Conduct Authority fined Barclays £42 million for inadequate handling of financial crime risks.
FCA launches major advice shake‑up to support savers with limited cash holdings.
