Oil prices continue to surge to new four-year high as 2m Iranian barrels go off the market May 15, 2018 Increased demand and restricted supply caused oil prices to soar today with Brent crude oil reaching $79 (£58) per barrel which is the highest since November 2014. Demand for oil drastically increased prices and has resulted in oil prices increasing by more than 70 per cent over the last year. After the plans for the [...]
Zurich completes deal to cover more than £2bn of National Grid pension liabilities May 15, 2018 Zurich has agreed a longevity swap of more than £2bn of pension liabilities from the National Grid in its Electricity Supply Pension Scheme. The insurance agency said the transaction would protect National Grid against “risk of rising costs” that have come about from 6,000 pensioners and future dependant members living longer than expected. It will [...]
Apple chief executive Tim Cook warned Donald Trump against China tariffs May 15, 2018 Apple boss Tim Cook has revealed he criticised Donald Trump’s approach to trade with China in a private meeting with the President last month. Speaking to Bloomberg TV, Cook shed light on the meeting which took place just weeks after Trump imposed tariffs on more than 1,300 categories of products from China. China retaliated by [...]
IMF: Brexit transition agreement ‘mitigates risk’ of chaotic UK departure from EU May 15, 2018 The UK’s decision to remain in the EU until the end of 2020 after a 21-month transition period will significantly soften the blow of the country’s departure, the International Monetary Fund (IMF) said today. In a its bi-annual Regional Economic Outlook report for May, the IMF discussed recent economic developments for various countries across Europe, [...]
Outgoing Serious Fraud Office boss David Green QC in talks with magic circle firm Slaughter and May May 15, 2018 Former Serious Fraud Office (SFO) boss David Green QC is in talks to join magic circle firm Slaughter and May. Website Legal Week has reported that the former SFO director has made an application to the Advisory Committee on Business Appointments which decides on the suitability of new jobs for former senior civil servants and [...]
Mining royalty company Anglo Pacific Group expects continuing growth in the coming year May 15, 2018 Mining royalty company Anglo Pacific Group started off the first quarter of this year with a strong cash flow of £13.3m following on from its record year 2017. The figures Anglo Pacific Group has reported royalty income doubling each year since 2015, and today announced that its cash flow had remained stable at £13.3m, compared [...]
Easyjet (EZJ) share price rises as it narrows losses and first-half revenue soars by 20 per cent to hit £2bn May 15, 2018 Easyjet racked up revenue topping £2bn for the first time in its first-half results, citing a boost from failed rivals and soaring ancillary sales. It also trimmed its loss, from £236m for the six months ended 31 March 2017 to £68m for the same time this year. The loss is mainly due to the costs [...]
TfL names Helen Murphy as head of new consulting arm as it eyes millions in revenue from work on transport projects across the world May 15, 2018 Transport for London’s (TfL) new consulting arm is picking up steam, with the appointment of a new boss for the business, as the transport organisation eyes millions in fresh revenue to help boost its finances. Last year, mayor Sadiq Khan said there was “significant scope” for the transport body to pursue opportunities to generate revenues [...]
Economics can’t capture the emotional heights of football May 15, 2018 Why do we put ourselves through this, year after year? Most football fans ask that question at some stage each season. It might be after a humiliating 4-0 home defeat on a wet Tuesday night. For me it came on Friday, after what was ostensibly a good result in a crucial match for the team [...]
No takers for the Italian job: Coalition parties bid for more time as neither leader wants to be Prime Minister May 14, 2018 Italy’s new government has yet to be formed, in part because neither leader of the two main parties wants to be Prime Minister. The populist parties Five Star Movement and League have today asked for more time to complete discussions for a coalition. On Sunday night, Luigi Di Maio of Five Star, which received the [...]