The UK should lift public spending to soften blow of a no-deal Brexit, IMF says October 9, 2018 The UK should lift public spending to soften the blow of a no-deal Brexit, the International Monetary Fund has said. The IMF said the UK has room to spend more or tax less without breaching its own fiscal targets. It has therefore urged the chancellor, Philip Hammond, to loosen the purse strings on public spending to [...]
Oil bankers form advisory firm as price surge fuels deals October 8, 2018 A former adviser to BP has launched a new advisory firm as the oil industry becomes “comfortable with itself” again and companies prepare to make “brave decisions”. Martin Lovegrove, a former adviser to BP and Chevron Corporation, has teamed up with Niels Kirk, a former oil and gas banker at Citi to form an advisory [...]
FTSE 100 drops to six-month low on weak oil stocks and uncertainty across Europe October 8, 2018 Weak oil stocks and economic uncertainty across Europe has dragged the FTSE 100 down more than 1 per cent to a six-month low. Britain's top index has fallen today, along with the German DAX despite the pound and euro dropping against the dollar. Read more: Unilever keeps UK headquarters: Investors react Royal Dutch Shell shares [...]
Acacia raises gold production target after strong quarter across Tanzanian mines October 8, 2018 Acacia mining has increased its full-year gold production target after a strong quarter in Tanzania. The gold miner raised its full-year target to just over 500,000 ounces from its original 435,000-475,000 ounces guidance after reporting “strong” production in its three mines in Tanzania. Production at its North Mara mine was up 24 per cent on [...]
Harrods to increase in-store investment after customers spent £2.1bn last year October 8, 2018 Harrods will increase investment in luxury boutiques at its Knightsbridge store after defying the retail environment with a 9 per cent profit rise. The luxury department store posted profits after tax of £176.7m, up nearly 9 per cent on the previous year's £162.5m. More than £2.1bn was spent at Harrods in the year ending 3 [...]
London maintains dominance of Europe’s IPO market raising £1.7bn in three months October 8, 2018 London has maintained its dominance of Europe's IPO market, accounting for almost half of the €3.9bn raised in the third quarter of the year. The London Stock Exchange remained the most active exchange on the continent between July and September despite values and volumes being considerably down in the UK and across Europe as a [...]
Britain’s brand value grows to $3.7tn replacing Japan in global fourth spot October 8, 2018 Britain's brand value has grown 20 per cent over the past year replacing Japan as the fourth most valuable nation brand in the world. The UK's brand value has risen to $3.8tn but “perceived vulnerability” has undermined its standing on the global stage, according to business consultancy Brand Finance's annual report. But a healthy economy [...]
Uber revenue driven up but company warns over driver employments rights court battle October 7, 2018 Uber drove its revenue up by 61 per cent last year but warned an ongoing court battle over the employment status of its drivers could hurt its future finances. The private hire firm, which claims its drivers are self-employed, is fighting against an Employment Appeal Tribunal decision that drivers should be classed as workers with [...]
Oil producers must ‘take steps’ to cool surging prices, IEA boss warns October 4, 2018 The world's major oil producers must “take the right steps” to cool the market amid a continued surge in crude prices, the International Energy Agency boss has warned. The IEA's executive director, Fatih Birol, said: “It is now high time for all the players, especially those key producers and oil exporters, to consider the situation [...]
EDF warned by nuclear watchdog over weldings at flagship plant October 3, 2018 EDF's flagship nuclear plant may need more repairs to its faulty weldings than originally planned, the French regulator ASN has warned. The nuclear watchdog said EDF would have to review materials at its Flamanville plant in Normandy. The state-backed energy company was forced to delay the start-up date for its Flamanville 3 reactor to the [...]
