US oil stocks just grew at their highest rate since October February 1, 2017 US oil stocks have spiked at their highest rate since October and marked off a fourth straight week of rises, according to official figures. Crude inventories rose 6.5m barrels for the week ended Friday, the Energy Information Administration said today, almost double analysts' expectations of an increase of 3.3m barrels. Currently, oil prices are rising – global benchmark [...]
For that reason, they’re out: Two Dragons are quitting the Den at the end of this series February 1, 2017 Two of Dragons Den's best-loved names will be roaring their last this series, after they announced plans to quit. Moonpig founder Nick Jenkins and Bombay Bicycle Club entrepreneur Sarah Willingham have both said they will step down at the end of the current series. With just four episodes left before the finale on 26 February, that [...]
The City A.M. Shadow Monetary Policy Committee votes to hold rates steady February 1, 2017 The Bank of England (BoE) is expected to leave interest rates and its quantitative easing policy unchanged at the latest meeting of the rate-setting Monetary Policy Committee (MPC). Most economists expect serious talk of a rate rise to be reserved until the latter half of the year at least – and the possibility remains of a further [...]
Saudi oil minister welcomes Trump energy policies February 1, 2017 The Trump administration’s energy policies, including planned growth in US oil production, are good for the oil industry, according to Saudi Arabia’s oil chief. “He has steered away from excessively anti-fossil fuel, unrealistic fossil fuel policies,” Khalid Al-Falih said in a BBC interview. As a candidate, Donald Trump had warned that he would be taking [...]
World’s largest hedge fund warns on Trump February 1, 2017 The founder of Bridgewater Associates, Ray Dalio has told investors he is increasingly concerned that Trump’s “populist” programme will be harmful to the world economy in the long-term. Dalio had been optimistic about the so-called “Trump Bump” back in November last year. Bridgewater’s co-chief investment officer Bob Prince joined Dalio in making the warning in [...]
Liam Fox admits the UK is unlikely to hit its trillion pound export target February 1, 2017 International trade secretary Liam Fox has said it is "unlikely" the UK will achieve a long-stated goal of reaching one trillion pounds in exports of goods and services by 2020. Former chancellor George Osborne established the goal in the 2012 "march of the makers" Budget as part of plan to bolster the British economy and boost manufacturing. But [...]
Water bills across England and Wales are set to rise in the next year February 1, 2017 The tide is rising on average household water and sewerage bills in the 2017-2018 year. Homes in England and Wales will see their bills rising £6, or two per cent, to an average price of £395. The increase falls in line with a five-year plan agreed upon by the UK's water and sewerage companies, UK Water said today. [...]
Owners of telephone mast giant Arqiva said to keep options open amid sale reports February 1, 2017 Telephone mast giant Arqiva could still be set for a stock market flotation, according to sources with knowledge of its situation. It emerged last night that Arqiva’s owners, including Australian investment bank Macquarie and the Canadian Pension Plan Investment Board, could be seeking to sell the company. Read more: Cheeky IPO? Nando's is considering a float [...]
Becoming a landlord? These are the most popular neighbourhoods for first time renters in London February 1, 2017 Coming to London can be daunting, and perhaps the most daunting part about it is thinking about saving up to buy a house. Young people in the capital are lucky if they get onto the property ladder at the age of 30, and until that day comes, they are forced to rent. Choosing a good place [...]
Volkswagen agrees to pay at least $1.2bn to US vehicle owners of big diesels February 1, 2017 Volkswagen has agreed to pay at least $1.2bn (£950m) in buybacks and compensation to owners of larger diesel engines affected by the firm's emissions scandal in the US. According to court documents filed late on Tuesday, VW has agreed to pay the total to fix or buy back nearly 80,000 polluting 3.0 litre diesel-engine vehicles, to [...]