Glencore launches new debt reduction plan but share price takes a hit as profits plunge on low commodity prices August 24, 2016 Mining and commodities giant Glencore announced plans to speed up cutting its net debt this morning but posted a two-thirds fall in profit for the first half of the year. The figures Lower commodity prices and trimmed production volumes pushed the company's net income down 66 per cent to $300m (£228m) in the six months to [...]
This seaside resort has benefited the most from the UK’s staycation boom this summer August 24, 2016 Britain's most famous seaside resorts benefitted from the booming trend in staycations this summer, according to research from Epos Now, as they were bolstered by the fall in the pound after June's Brexit vote. Brighton topped the bucket and spade charts, with a 12.8 per cent revenue rise recorded by hospitality businesses between 17 July to 17 August compared to [...]
Brent crude and West Texas Intermediate oil prices slide on huge surprise increase in US crude stocks August 24, 2016 The price of US oil fell by more than two per cent this afternoon after an unexpected increase in crude stocks in the country reinvigorated worries about a global supply glut. Today the US Energy Information Administration (EIA) released figures showing domestic crude supplies rose by 2.5m barrels in the week ended 19 August to a [...]
Cheers: Bellfield Brewery, the UK’s first dedicated gluten-free craft microbrewery, has secured distribution across the UK August 24, 2016 If you haven't already, you'll soon be able to raise a toast with free-from beer, as the UK's first dedicated gluten-free microbrewery has secured distribution with several country-wide operators. Edinburgh-based Bellfield Brewery's two brews, Lawless Village IPA and Bohemian Pilsner, have been taken on by several Scottish-based distributors and wholesalers including Craft Beer Clan Scotland, [...]
888 Holdings set to launch localised service in Romania week after failed William Hill bid August 24, 2016 Online gambling major 888 Holdings has announced it is set to launch a new, localised service in Romania a week after it walked away from a joint bid for bookmaking stalwart William Hill. 888's Romanian version, 888.ro, will unify its casino, poker and sport arms so that players can access all three brands from a single account when [...]
The commuter life of train delays, warm journeys and overcrowding are worse for your health and happiness than you already thought August 24, 2016 If you're one of the UK's 24m commuters and had the sneaking suspicion your journey-heavy lifestyle was making you less healthy… unfortunately, you were right. The average commuter in the UK travels for 56 minutes a day, with the majority of these types of journeys usually being undertaken on "non-active" modes of transport such as [...]
Catch of the day should be new fishing policy, urges Adam Smith Institute August 24, 2016 The government has a "unique opportunity" to rewrite its fishing strategy and end the EU policy that has "savaged" UK waters, think tank the Adam Smith Institute (ASI) has said. In a paper released today, the ASI has urged the government to withdraw the UK from the European Common Fisheries Policy in the wake of the Brexit vote [...]
Britons drink the summer away as heatwaves boost booze sales August 23, 2016 Alcohol sales soared off the back of hot weather from mid-July to mid-August, lifting the full-year performance of some drinks categories. Beer and cider volumes rose by 4.7 per cent year-on-year in the four weeks to 13 August, according to data released today by Nielsen. Consumers also shelled out more on their beer and cider drinks, with sales [...]
Oil prices slide on Iraq and China production boosts and rise in US rig count August 22, 2016 Oil prices slid on Monday on concerns about increased exports from China, Iraq and Nigeria, as well as a rising US rig count. Brent crude, the international benchmark, fell $1.34, around 2.6 per cent, to $49.54 per barrel in mid-afternoon trading. West Texas Intermediate crude was down as much as $1.43, 2.95 per cent, to $47.09 per barrel. Read more: Global oil [...]
Tata Steel’s Port Talbot plant swings back to modest profit August 22, 2016 Tata Steel’s Port Talbot plant swung back to a modest profit over the summer. This is a significant turnaround for the plant, which was reportedly posting a £1m a day loss at the height of the steel crisis when Tata was considering selling off its UK assets. “By June a break-even or beyond figure was [...]
