Centrica sells US business, Vodafone’s IPO plans, strong economic data

British Gas owner Centrica has agreed to sell-off its US energy business for $3.6bn (£2.87bn). Pic: PA
British Gas owner Centrica has agreed to sell-off its US energy business for $3.6bn (£2.87bn). Pic: PA

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Centrica (CNA.L), the owner of British Gas, has agreed to sell-off its US energy business for $3.6bn (£2.87bn) as part of a turnaround plan.

Centrica said on Friday it had agreed to sell its Houston-based subsidiary Direct Energy to NRG Energy (NRG) for $3.6bn in cash.

News of the deal sent Centrica’s share price surging over 35% at the open in London.

Centrica chief executive Chris O’Shea said the deal was part of plans “to become a simpler, leaner business” that was “focused on the UK and Ireland where we have leading market positions.”

Centrica acquired Direct Energy in 2000 for $912m in cash, giving the company its first

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