What you need to know about travelling during this week’s Tube strikes: Travel advice for Central and Waterloo & City Line commuters February 19, 2017 Fresh strikes on London Underground are due to disrupt travellers this week with the Central and Waterloo & City lines expected to have little to no service. Here's what you need to know about- the industrial action so you can plan ahead. What time and day are the strikes taking place? From late on Tuesday [...]
Former BP Russia boss lined up for top nuclear decommissioning role February 19, 2017 David Peattie, the former boss at BP’s Russian operations, is the front runner to take over at the Nuclear Decommissioning Authority (NDA), according to reports in the Sunday Times. Tasked with managing Cumbria’s Sellafield estate, the NDA is a state-owned body that receives £3bn a year in public money, which amounts to 25 per cent [...]
Analysts banking on Lloyds and Barclays to have steamed ahead during 2016, as other UK lenders struggle February 19, 2017 Analysts are predicting Lloyds Banking Group and Barclays will race ahead of the pack when the UK's big banks report their earnings this week. Lloyds, which will report its 2016 full-year figures on Wednesday, is forecast a statutory pre-tax profit of £4.4bn, more than double the £1.6bn it reported in 2015, when its earning potential [...]
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 [...]