Foreign takeovers in the UK hit record levels last year as Megabrew and BG-Shell deals completed March 7, 2017 Foreign takeovers of British companies reached record levels last year as mega-deals announced during 2015 were tied up. In 2016, the Office for National Statistics (ONS) tracked 227 foreign takeovers, the highest annual number since 2011, worth £187.4bn, the highest total value since records began in 1969. These figures were boosted by AB InBev’s £79bn [...]
Former Tory leader William Hague is calling for an early general election – and Theresa May says no March 7, 2017 Surprise, surprise: Downing Street has shot down attempts by former Conservative leader Lord Hague to persuade Theresa May to call a snap general election. A Downing Street source said May had been "clear and consistent in her position: she doesn't think there should be one". Writing in the Daily Telegraph, William Hague said the move “would strengthen [...]
E.On hikes dual fuel energy prices by £97 – and the government says it’s “prepared to act” March 7, 2017 E.On is hiking its energy prices because of increasing costs to social and environmental schemes – and ministers have responded with a word of warning to the industry. The Germany-based company said prices for dual fuel customers will rise 8.8 per cent from 26 April, affecting 62 per cent of customers, or 2.5m people. "Wherever markets are not [...]
Saudi Aramco is set to pay Shell $2.2bn to finalise the break up of a US joint venture March 7, 2017 Saudi Aramco will pay Shell $2.2bn (£1.8bn) to finalise the split of a refining joint venture between the two firms. After the split, the Saudi oil giant's refining unit will wholly own Motiva Enterprises as well as the Port Arthur, Texas refinery – the largest in the US, which produces 600,000 barrels per day – and 24 distribution [...]
New Land Rover Discovery uses search and rescue drone technology to help Red Cross rescue missions March 7, 2017 Check out this rather special version of the new Land Rover Discovery – for use by the Austrian Red Cross. That's right, Jaguar Land Rover special vehicle operations has been beavering away on developing "Project Hero", involving search and rescue drone technology which can take off and land on the vehicle, even when it's in [...]
Mapped: All 34 Budgens store closures and when they will shut March 7, 2017 This morning it emerged that Budgens stores up an down the country have been closed after the operator of the stores went into administration. Accountancy firm PwC was appointed as administrators for the shops by restructuring firm Hilco Capital, but the accountancy giant could not find a buyer for the convenience stores. Read more: Budgens [...]
Jaguar Land Rover is driven to new heights by 40 per cent surge in Chinese sales March 7, 2017 Jaguar Land Rover roared to a record year in 2016 and it shows no sign of taking its foot off the pedal. The British car giant has reported its best ever February retail sales of 40,978 vehicles, up nine per cent on the same period last year. It was driven by strong demand in China [...]
Mike Ashley wants you to know something about his Agent Provocateur takeover March 7, 2017 Sports Direct founder Mike Ashley's recent foray into frilly knickers may have raised eyebrows – but he wants you to know it wasn't just him who bought the lingerie retailer. In a statement today, Sports Direct clarified the £30m acquisition was made by Four Holdings, a company in which it owns a 25 per cent [...]
Here’s what the property sector is expecting in this week’s Budget – from stamp duty to landlords to luxury homes March 7, 2017 It’s that time of year again: the days are getting longer, the trees are blossoming, and the one-time-only Spring Budget is rapidly approaching – with homeowners and landlords alike steeling themselves for more punishment from the chancellor. The good news is it looks unlikely there will be much to punish homeowners or lower house prices [...]
Donald Trump has taken credit after Exxon Mobil unveiled plans to spend $20bn in the Gulf Coast March 7, 2017 Exxon Mobil has said it will invest $20bn (£16bn) over a 10-year period to expand its presence in the US Gulf Coast – and Donald Trump has taken credit. Following the announcement, a White House issued statement appeared to copy an entire paragraph from the oil firm's press release. Last night the world's largest listed energy company said it will [...]