UK fashion industry showcases its wares at London fashion week February 19, 2017 Designers, buyers and supermodels have descended on the capital for its 65th fashion week. The trade fare is hosting over 5,000 guests and will showcase collections from 120 designers including Burberry, Mulberry and Donatella Versace's Versus line. Designers will be trying to entice buyers and drum up business across more than 51 catwalk shows. And [...]
Khan says Trump’s visit should be scrapped over “cruel and shameful” travel ban February 19, 2017 Prime Minister Theresa May should scrap plans for US President Donald Trump to visit the UK over his “cruel and shameful” policies, London mayor Sadiq Khan has said. Trump was offered a state visit to the UK just days after being elected, but the plan has proved controversial, with protests erupting over the President's attempts to ban [...]
German minister hits out at London Stock Exchange bosses over mega-merger February 19, 2017 Politicians from the German state of Hesse say LSE bosses are insisting on London as the legal base for the merged LSE-Deutsche Boerse exchange due to concerns about the post-Brexit future. The proposed £21bn mega-merger is pending approval by the European Commission, and Hesse, the German state which includes the city of Frankfurt, home to [...]
Mongolia agrees terms for $5.5bn IMF-backed loan February 19, 2017 The IMF and its partners have come to an agreement to provide Mongolia with an economic stabilisation package worth $5.5bn (£4.43bn). Rapid growth in Mongolia’s commodities sector had resulted in a fast pace of economic growth, reaching double digit figures between 2011-2013. A sharp decline in commodity prices, plus a fall in foreign direct investment, [...]
Glencore’s copper output to suffer due to African production troubles February 19, 2017 Mining giant Glencore is expected to announce adjusted earnings before interest, tax, depreciation and amortisation (ebitda) of $3.07bn (£2.47bn) for 2016 on Thursday when it reveals its full-year results. In a production report released earlier this month, the FTSE 100 company said it expected ebitda for 2017 to stand at $14bn. According to forecasts by [...]
Jim Ratcliffe’s petrochemical company Ineos reports record profits of £3.7bn for last year February 19, 2017 Britain's biggest privately owned firm announced record profits last year, bolstered by low oil prices. The chemicals company run by Jim Ratcliffe reported underlying profits of €4.3bn (£3.7bn) for 2016, up from €4bn the year before. Pre-tax profits rose to about €3bn. The company, which is comprised of 27 businesses, is also repaying €1.2bn from its cash resources. Read more: Ineos [...]
Tech leaders call for new post-Brexit visa to avert talent crisis February 19, 2017 The UK's tech leaders are calling for a new visa scheme to avert a potential skills crisis in the industry caused by Brexit. The government should create a new minimum six-month high-skilled visa to ensure the fast growing sector has access to talent after the UK leaves the European Union, as new figures reveal a [...]
The business rates backlash continues… this time Sainsbury’s speaks out February 19, 2017 Sainsbury's is the latest company to raise its voice amid growing concern over the impending rise in business rates which will see thousands of businesses with a bigger bill. The supermarket's chief executive Mike Coupe slammed the levy as "archaic" and called for reforms to "level the playing field with firms such as Amazon which [...]
Britain must boost investment in skills beyond apprenticeship levy to compete with Europe after Brexit, according to report February 18, 2017 The UK must significantly increase its skills investment beyond plans for the apprenticeship levy if it is to compete with European rivals in the post-Brexit world economy, according to a new report. The government’s new apprenticeship levy will not bring employer investment in skills up to levels seen before the financial crisis, according to the [...]
Prime Minister Theresa May to meet Peugeot boss to discuss Vauxhall takeover deal February 18, 2017 Prime Minister Theresa May will meet the boss of Peugeot SA to discuss the group’s takeover bid for General Motors’ (GM) European operations, including British brand Vauxhall. May has been invited to meet the chair of the managing board of Peugeot SA (PSA), Carlos Tavares, to discuss the deal. A Downing Street spokesperson confirmed there [...]