The government has set a higher than expected target for the use of biofuels in UK vehicles for 2009-10. The 3.25% target is 0.5% more than recommended in the Gallagher Review. Meanwhile, the UK is to get a biofuels research centre - the £27m Sustainable Bioenergy Centre will have hubs at six universities.
Royal Dutch Shell has posted profits for the final three months of 2008 of $4.8bn (£3.4bn), down 28% from the same period a year ago. However, annual profits at the Anglo-Dutch company soared 14% to $31.4bn helped by record oil prices over the summer.
The food & grocery sector is expected to grow by 3.1% in 2009, against a 0.6% decline across the retail market as a whole, according to a report by Verdict Research. It said the sector was proving much more resilient to the recession than other areas of retail due to more consumers eating at home.