Tesco set to launch discount store brand next week September 11, 2018 Supermarket chain Tesco is set to launch a new discount store format next week in a bid to compete with German rivals Aldi and Lidl. The UK's biggest supermarket advertised recruitment for retail assistants, customer service assistants and manager roles for a new store format in Chatteris, Cambridgeshire, earlier this year. Read more: Jamie Oliver joins up with Tesco with [...]
Ineos invests £60m to expand production at UK Grangemouth site September 11, 2018 Chemicals firm Ineos today said it was making a major £60m investment to expand production at its site in Grangemouth, Scotland. It will build an additional furnace at the 1,700 acre ethylene plant to improve the efficiency and capacity of the facility. In a statement, Ineos said the investment showed its commitment to British manufacturing at a time [...]
Exxonmobil reveals £500m upgrade plan for Fawley refinery September 11, 2018 US oil and gas giant Exxonmobil has unveiled plans for a £500m upgrade to the UK's largest fuel refinery. The project will involve constructing a new hydrotreater unit and hydrogen plan at Fawley refinery, near Southampton, which produces fuel for one in six UK cars. Read more: UK offshore oil and gas firms concerned over record low drilling The [...]
Nucleus Financial reports growing profits in first results since July IPO September 11, 2018 Investments management platform Nucleus Financial today reported growing revenues in its first results since it became a listed company. Following its admission to London junior market Aim back in July, the company said revenue rose 11 per cent to £12.6m, while after-tax profit nearly doubled from last year to £2.2m. For the six months up [...]
Malta leads house price growth as global hotspots slow down amid new rules September 11, 2018 The small Mediterranean island of Malta has seen the world’s steepest house price growth in the last 12 months, as traditionally fast-growing property hotspots fall behind in the wake of tough new property regulations. Malta experienced a 17 per cent annual rise in house prices during the year leading up to June 2018, topping today’s [...]
Domino’s franchisee boosted as Russia and Turkey show appetite for pizza September 11, 2018 Domino's franchisee DP Eurasia has been boosted by a growing appetite for pizza in Russia and Turkey despite “challenging” economic conditions. The exclusive Domino's Pizza franchisee in Russia, Turkey, Georgia and Azerbaijan said revenue for the first half of the year grew 32.2 per cent to 380m Turkish lira. Its online sales of pizza in Russia [...]
Data issues are the fastest-rising risks to the City says Financial Conduct Authority boss Andrew Bailey September 11, 2018 Data poses “the fastest-rising risk on our landscape” for the Financial Conduct Authority (FCA), its boss, Andrew Bailey, said today. The watchdog has scrutiny of issues around data “high up our agenda” because of financial services’ “heavy use of personal data”, Bailey said in a speech. The data issues faced by the FCA include the [...]
British Airways data breach: How hackers stole customers’ data September 11, 2018 British Airways’ breach last week was caused by the same group of hackers that targeted Ticketmaster, according to cyber security researchers. The cyber attack resulted in 380,000 customers’ personal and financial details ending up in the hands of criminals, with the airline warning those affected to contact their banks and promising full compensation. Read [...]
Chancellor Philip Hammond: Bank of England boss Mark Carney will remain in place until 2020 to ensure Brexit ‘continuity’ September 11, 2018 Bank of England governor Mark Carney will stay in post until the end of January 2020 to "support continuity" during the Brexit process, chancellor Philip Hammond confirmed today. There has been widespread speculation about whether the Canadian economist would extend his time in post, having been due to step down from the role in June [...]
Brexiter big beasts herald Economists for Free Trade report September 11, 2018 Brexiter big beasts Boris Johnson, Jacob Rees-Mogg, David Davis and Iain Duncan Smith were among a slew of MPs to endorse a new report claiming the UK could be as much as £1.1 trillion better off under a so-called World Trade Deal. The report, by the pro-Leave Economists for Free Trade, was launched by Rees-Mogg alongside EFT [...]