Polymetal on a spending spree as it ramps up capital expenditure March 15, 2017 FTSE 250 metal mining company Polymetal has boosted its revenues by 10 per cent but it has also ramped up spending at the same time, the company has said in its preliminary results for the year ended 31 December 2016 The figures Polymetal said capital expenditure has risen by 32 per cent to $271m (£220.54m) [...]
Profits soar at landscape gardening specialist Marshalls March 15, 2017 Landscaping group Marshalls’ share price jumped up by as much as six per cent in early trading as the builders’ merchants and garden centre supplier reported bumper profits in its 2016 full-year results. The figures Profits before tax rose by 31 per cent to £46m from £35.3m last year on flat revenues of £396.9m, up [...]
Oxford University on a high as Star Trek star backs medicinal cannabis research March 15, 2017 Star Trek actor Sir Patrick Stewart has publicly endorsed cannabis research at Oxford University, after admitting to using the drug for medicinal reasons in America. Stewart has backed the UK’s first ever research project launched by Oxford University today which aims to explore the benefits of cannabinoid-based medicines for sufferers of arthritis like himself. Stewart [...]
The US Federal Reserve has hiked interest rates and signalled a slower pace of monetary tightening March 15, 2017 The US Federal Reserve lifted interest rates for the second time in three months last night, but sent the dollar and US Treasury yields tumbling with a cautious outlook on economic growth and future hikes. The federal funds rate was raised to 0.75 per cent-one per cent. However, the Fed stuck to its forecast of just two [...]
Government sets up new watchdog – Office for Professional Body Anti-Money Laundering Supervision – to get tough on money laundering March 15, 2017 The UK government is toughening up on money laundering by launching a watchdog to deal specifically with the crime. The Office for Professional Body Anti-Money Laundering Supervision, or OPBAS as it will be known for short, will sit within the Financial Conduct Authority and should be up and running by the start of next year. The [...]
Was Philip Hammond right to U-turn on his national insurance hike for the self-employed? March 15, 2017 Julian Jessop, chief economist at the Institute of Economic Affairs, says Yes. It is increasingly hard to justify why the self-employed should pay much lower national insurance contributions (NICs) than those who work for others. Nonetheless, this distortion should have been tackled as part of a fundamental rethink of the tax and benefit system, rather [...]
Southern Rail and Aslef have agreed to a fresh deal to end strikes, but union members could still reject it March 15, 2017 Southern Rail and train drivers' union Aslef have agreed to a fresh deal, finally resolving their row over driver-only trains. However, it's not quite over yet. Aslef members still need to vote on the new terms, and the result will be announced 3 April. The union's boss is recommending members accept the deal. Mick Whelan, general secretary of [...]
Ranked: The world’s 20 best airports (spoiler – Heathrow has swooped lower) March 15, 2017 Heathrow airport has been named the world's top airport for shopping by Skytrax’s World Airport Awards for the fifth year in a row – but has fallen in the overall ranking. Heathrow fell from eighth place in 2016 to ninth in this year's overall ranking, although it was also voted the best airport in Western Europe [...]
London has attracted a tech fund led by Saudi Aramco, BP and other oil majors looking to collaborate and innovate March 15, 2017 A $1bn (£818.8m) energy fund backed by Saudi Aramco, BP and eight other global oil majors will make London its home in a new vote of confidence for the City post-Brexit. Oil and Gas Climate Initiative's (OGCI) Climate Investments fund aims to invest in and accelerate the commercial development of new emissions-reducing technology. It first announced its plan to push £1bn over [...]
Bond Street dumps its rubbish trucks March 15, 2017 Bond Street has dumped its bin men in a bid to attract overseas investment. The number of rubbish trucks going along the iconic shopping street has been slashed by 75 per cent over the past year, with the number of service providers falling from 40 to just two. Read more: Retailers in Mayfair and Bond [...]