One of the good things that have come out of the global economic downturn is the unparalleled fall in greenhouse gas emissions. A recent study sponsored by the International Energy Agency (IEA) has stated that the recession has in fact provided a “unique opportunity” to move the world away from high-carbon growth,

In this first major study of the impact of the recession on climate change, the IEA found that CO2 emissions from burning fossil fuels had undergone “a significant decline” in 2009, more than in any year since the late nineteen sixties. The decrease well exceeds the drop in greenhouse gas emissions that occurred after the 1981 recession.

Whilst falling industrial output is largely responsible for the plunge in CO2, there are other factors that have played a role, including the shelving of many plans for new coal-fired power stations owing to falling demand and lack of financing.

Rights issue speculation led Severn Trent lower on Monday Severn, Britain’s second-largest water company, lost 1.8 per cent to 993 pence. Severn has been widely rumoured to be looking at a fund-raising after July’s tougher than expected draft pricing review from Ofwat, the industry regulator. Severn’s options look likely to include a dividend cut and a rights issue to raise around £400 million. No decision is expected before November; when Ofwat is due to give its final determination.

The British Government has announced that they will grant a £10 million loan to Indian car maker Tata Motors to finance the electric car manufacturing project in the UK.

The loan, which will be part of a scheme backing low carbon technology in the motor industry, will support a £25 million pound investment by Tata Motors in its West Midlands base.

In July, Tata Motors had threatened to scrap plans to build electric cars in the UK if it did not receive the £10 million pound loan.

Tata almost said ta-ta to officials from Mandelson’s Business Department after being told that they needed more time to find out if the venture will be considered for the loan, taking the total waiting time to six months.

In a £50 million deal, the UK Atomic Energy Authority agreed to sell their wholly-owned commercial subsidiary UKAEA Ltd. to the defence and energy support services firm Babcock International.

UKAEA oversees nuclear clean-up work at three sites in Britain as well as providing consultancy services worldwide, Lord Mandelson said; “The sale will allow the company, as part of Babcock International, to continue its development and take advantage of new opportunities in the nuclear industry.”

UKAEA, which has been playing an active role in nuclear energy since for close to fifty years, has an annual-turnover worth around £32 million and employs more than 200 people.

Marks and Spencer was among the few companies to shine on the Footsie yesterday, in anticipation of positive second-quarter figures to be released next week. The high street retail chain was up 1.6 per cent to 374 ½ pence.

Slipping into reverse was the van hire group Northgate, whose shares dropped 2.1 per cent to 27 pence after the company admitted that they had made an “internal administrative error”, which meant that that their debt burden was £32 million more than previously reported.

The UK’s FTSE 100 index made its first reverse for a few days, down 38.53 points to close at 5,134.36.

Meanwhile the FTSE 250 continued to reverse last week’s gains, down yesterday by a further 86.28 points to close on 9,220.65

The pound continued to lose value against the main currencies on Monday’s trading with the notable exception of the Japanese Yen, where markets were closed for a public holiday.

• Pound/US dollar 1.6245
• Pound/Euro 1.1038
• Pound/Japanese Yen 149.188
• Pound/Swiss Franc 1.6721

The Dow Jones Industrial Average took a minor spin backwards after the weekend, down 41.34 points to 9,778.86. The NASDAQ continued to consolidate, up 5.18 points to 2138.04.

Computer giant Dell is buying IT services provider and fellow Texan firm Perot Systems for £2.4 billion ($3.9 billion)

Dell announced that the takeover, which it hopes to conclude between November and January, will help to provide a wider range of services to its customers.

The all-cash deal will see Perot shareholders receive $30 per share, making a 68% premium on the company’s closing share price on Friday.

Perot is owned by billionaire Ross Perot who twice ran as an independent candidate for the US presidency.

Oil prices have fallen by almost $3 on fears that energy demand may not be as strong as once thought.

The price of US crude was down to less than $70 a barrel. The price reduction confirms the findings of a report issued by the Centre for Global Energy Studies forecasting that there was unlikely to be a sustained rise in prices until the global financial recovery was well established.

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