Swedish oil firm Lundin Petroleum is spinning off its non-Norwegian assets in a new company February 13, 2017 Sweden's Lundin Petroleum has announced plans to spin off its assets from outside Norway into an independently listed oil and gas firm. The newly formed company, International Petroleum Corporation (IPC), will take control of Lundin's assets in Malaysia, France and the Netherlands. IPC will distribute shares in the new firm to existing investors. It has applied to the [...]
Brexit not as bad for the UK as we thought, says EU, as it revises country’s growth figures upwards February 13, 2017 The European Commission has become the latest body to lift its UK growth forecast, admitting today that the impact of Brexit might not be as bad as it originally feared. EU forecasters now expect the UK economy to expand 1.5 per cent this year, up from their prediction of just one per cent growth, made [...]
Now Sonos is hiking prices because of the weaker pound February 13, 2017 Trendy speaker maker Sonos has become the latest cult tech giant to announce it is increasing prices on its UK catalogue thanks to the weaker pound “Our prices are defined regionally,” the company said in an email to its customers. “In the UK, this includes local taxation and import duties, but we pay for everything we make in [...]
London airports soar to record months as UK shows “economic resilience” in the face of Brexit February 13, 2017 Passenger numbers at London's airports continue to soar as Luton reported a 20 per cent jump for January compared to last year. London's two biggest airports also had record months, with passenger numbers at Heathrow up 4.2 per cent at 5.74m and Gatwick up 12.1 per cent with 2.8m passengers travelling through the airport. Heathrow [...]
Three mobile’s Danish arm refuses to pay ransom after being blackmailed by hackers February 13, 2017 Mobile phone operator Three has revealed it refused to pay a ransom to hackers that targeted its Danish arm. Personal details of around 3,600 Danish customers were stolen by cyber criminals, the company said. But it refused to pay them "millions" not to publish the data, instead handing details of the data breach over to police. Read more: Hello from [...]
More than two-thirds of the public think Heathrow expansion will signal Britain is open for business post-Brexit February 13, 2017 While questions remain over how the government will address air quality concerns over Heathrow expansion, for now the public backing lies very much with the third runway taking shape. That's according to a new ComRes poll of 2,003 people – commissioned by Heathrow (who else?) – which has found more than two-thirds of the public think building a [...]
A surge in copper prices is boosting shares in London’s FTSE 100 miners February 13, 2017 Top London-listed miners' shares were given a boost this morning on the back of stronger metal prices. Mining stocks increased 1.6 per cent as London Metal Exchange three-month copper prices this morning increased about one per cent to the metal's highest price in 20 months . Shares in Glencore, Anglo American, BHP Billiton and Antofagasta climbed between 1.7 per cent [...]
Tube strike threat over staffing and ticket office closures is off after the TSSA accepts London Underground deal over jobs February 13, 2017 The threat of industrial action on the London Underground over jobs has come to an end, after the Transport Salaried Staffs' Association (TSSA) accepted a deal. As a result, the union has called off its overtime ban. Both the TSSA and the Rail, Maritime and Transport (RMT) union had been in dispute with London Underground over [...]
Fidessa shares rise after being boosted by a year of change February 13, 2017 Fidessa's share price jumped nearly four per cent after revealing it was well placed to take advantage of regulatory and structural change and posting "solid" full-year profit growth. The figures Revenue at the trading software firm for the year to December 2016 grew by 12 per cent to £332m, although this was three per cent growth based on [...]
Japanese economy grows one per cent, helped by weaker yen February 13, 2017 Japan’s GDP grew at an annualised rate of one per cent in the final quarter of 2016, falling slightly short of analysts’ expectations. Growth between the third and fourth quarters fell to 0.2 per cent, the slowest pace in the year and down from the 0.6 per cent growth rate achieved in the first three [...]