Nigeria’s naira touches record low on devaluation fears February 24, 2014 Devaluation speculations have sent Nigeria’s currency plummeting. Despite government efforts to soothe concerns over a possible devaluation of the naira, it’s hit a new record low, with bond yields climbing sharply, after the suspension of the central bank governor last week. The naira fell 0.3 per cent against the dollar on Monday, marking its sixth [...]
Government to fast track oil and gas industry review recommendations February 24, 2014 The government has said this morning that it’ll fast-track implementing recommendations from the Wood Review, a report it commissioned to assess the country’s gas and oil potential. Sir Ian Wood, report author and former chairman of Wood Group, said the UK’s oil and gas industry should pay for the creation of a new regulator to [...]
Dixons announces Carphone Warehouse merger talks February 24, 2014 Following recent speculation over a move, high street retailer Dixons has announced that it and Carphone Warehouse are in "preliminary discussions" over a possible merger. That's one way for Dixons to take a step into the mobile sector, something it's been looking to do for a while now. Shares in Carphone Warehouse and Dixons have [...]
Ford unveils its answer to Google’s self-driving car February 24, 2014 As the Mobile World Congress in Barcelona gets underway Ford has unveiled what could be its answer to Google's self driving Toyota Prius, according to Sky News. Ford's new self-driving car is fitted with four infrared light sensors capable of taking 2.5m measurements every second. The sensors scan the road meticulously for possible obstacles such [...]
MtGox’s Karpeles resigns from Bitcoin Foundation board February 24, 2014 Bitcoin exchange MtGox has resigned from its place on the Bitcoin Foundation board, according to a blog entry by Bitcoin Foundation executive director and board member Jon Matonis. The Bitcoin Foundation is a trade group with a mission to promote, standardise, and protect the popular cryptocurrency. Matonis says that the change is "effective immediately", and [...]
Sony’s new Xperia Z2 boasts Ultra HD video recorder February 24, 2014 As the Mobile World Congress kicks off in Barcelona Sony has announced the Xperia Z2, with the tag line "details make the difference." The Z2 boasts a number of improvements on its predecessor. The display is 0.2in bigger but the device is also lighter and colour reproduction has been upgraded. While the camera may be [...]
HSBC shares dive on profits miss February 24, 2014 HSBC, Britain’s largest bank, has reported full-year pre-tax profit of $22.6bn (£13.6bn) – up nine per cent, but below its own $24.6bn estimate and market consensus of $25bn. But shares have tumbled this morning, down almost five per cent, as investors respond to the disappointment. The bank has been on a drive to tighten its belt, [...]
Ukraine puts out search warrant for former President Yanukovich February 24, 2014 The acting interior minister of Ukraine, Arsen Avakov, has put out a warrant for the former president of Ukraine, Viktor Yanukovich. Yanukovich was last seen in the Crimea on Sunday, travelling by car in a motorcade of 22 cars. The former President's whereabouts are currently unknown. He is wanted by police for the mass murder of peaceful [...]
Rolls Royce bags $90m US Marine Corps engine contract February 24, 2014 Rolls Royce has said this morning that it’s won a $90m (£54m) production contract for engines to power MV-22 aircraft operated by the US Marine Corps. The defence company will provide 40 Rolls Royce AE 1107C engines, which it’ll manufacture in Indianapolis, Indiana. The AE product family has over 5,800 engines in service, with the [...]
Mothercare CEO Calver resigns February 24, 2014 Mothercare has announced this morning that its chief executive Simon Calver has handed in his notice. Calver’s resigned “with immediate effect”, the company said, and will leave at the end of March. The baby goods retailer, with issued a profit warning in January, following heavy Christmas discounting, has yet to appoint a successor. Calver will [...]