Restaurant sales drop and pub sales rise as summer heat hits June 18, 2018 Britain’s hot weather has boosted the pub trade while hurting restaurant sales, according to new research. Like-for-like pub sales jumped 3.5 per cent from May last year, standing in stark contrast to a 2.1 per cent like-for-like drop for the restaurant industry against the same period. The latest results, published by Coffer Peach Business tracker, [...]
US-China trade war tensions escalate with reciprocal tariffs June 17, 2018 Tensions between the US and China climbed close to boiling point over the weekend as China responded to President Donald Trump’s tariffs with extra custom duties of its own. Accusing China of stealing intellectual property from US technology companies, on Friday Trump promised to impose a 25 per cent tariff on $50bn (£37.6bn) of Chinese [...]
Equity crowdfunding platform Crowdcube is steadily losing cash, with new fundraising on the horizon June 17, 2018 Exeter-based Crowdcube has posted losses for another year, as revenues slump due to sources of new campaigns on the platform drying up. Despite its status as one of the UK’s largest crowdfunding platforms, and having previously raised an additional £1m in growth capital last May, its operating loss for the year ending last September came [...]
At OPEC meeting in Vienna, bickering member states to decide on raising oil production June 17, 2018 The Organisation of Petroleum Exporting Countries (OPEC) will meet in Vienna this week, with members split on whether to end its production freeze. Oil prices soared last month, and are still up at $76 per barrel, more than double what they were when the group introduced a cap on production in 2016. Brent crude hit [...]
NHS £20bn spending increase to require UK to ‘contribute a bit more’ says Prime Minister Theresa May June 17, 2018 The government will increase spending on the National Health Service (NHS) by more than £20bn by 2022, with firms and consumers “contributing a bit more”, likely through higher borrowing or tax rises. The increase in NHS England spending will be the equivalent of a 3.4 per cent increase per year in real terms, below the [...]
China hits back at Donald Trump with its own tariffs as tit-for-tat trade war heats up June 16, 2018 China has hit back at Donald Trump’s decision to impose tariffs on $50bn (£37bn) worth of its goods by responding in kind as the tit-for-tat trade war heats up. The US president yesterday unveiled the 25 per cent tariffs, designed to combat what he says is China’s theft of America’s intellectual property. The US says [...]
Apple facing possible ban on some US iPhone imports over patent battle with Qualcomm June 16, 2018 Members of the US International Trade Commission have told a district judge they believe Apple has infringed the patent of rival Qualcomm, in a move that could lead to some US iPhones being blocked. The telecoms giants are battling it out after Qualcomm asked the commission, which acts as a third party in such cases, [...]
DWF latest law firm to catch flotation bug with £1bn IPO June 15, 2018 International law firm DWF is the latest law firm to signal its intention to float on the London Stock Exchange with a sale that could raise up to £1bn. The Times first reported that the firm was mulling an Initial Public Offering (IPO). It was later confirmed by the firm in a statement on its [...]
Brussels clears Comcast bid for Sky June 15, 2018 The European Commission has approved Comcast’s bid for Sky, turning up the heat in the battle with 21st Century Fox for the broadcaster. Brussels authorities said that the proposed merger raised no competition concerns in Europe. “The commission found that the proposed transaction would lead to only a limited increase in Sky’s existing share of [...]
Grenfell-style cladding needs to be taken off of private homes now – who will pay can be decided later June 15, 2018 On the one-year anniversary of the Grenfell Tower incident, have we made enough progress to ensure that our buildings and their residents are safe? The Hackitt Review was recently published, following Dame Judith Hackitt’s independent review of Building Regulations and Fire Safety, and I warmly welcome the recommendations within the report. Specifically, the appointment of [...]