Oil prices remain at four-year high ahead of Trump’s Iran decision May 8, 2018 Oil prices remained at a four-year high this morning, ahead of US President Donald Trump’s highly anticipated announcement on the Iran nuclear deal. WTI Crude was still above $70 a barrel, despite slipping by 0.8 per cent, having risen above the threshold for the first time in four years yesterday, as traders anticipate Trump confirming [...]
Where on earth have you been? We meet the entrepreneur who is proving that travel is a force for good May 8, 2018 In the office of Bruce Poon Tip is a $5,000 cheque in a plexiglass case. It’s a prize for any employee who can hurt Bruce’s feelings with negative feedback about his leadership or the practices of his company, travel operator G Adventures. To date, no one has won the award. “Anyone who can hurt my [...]
Morning markets update: London’s FTSE continues to climb after Wall Street tech rally May 8, 2018 The FTSE has continued to rally this morning, buoyed by a strong performance on Wall Street overnight and positive results in Asian markets. The London stock index was up 13 per cent, edging back up towards the 7,600 level, led by gains from Shire pharmaceutical after it agreed to a $62bn (£45.9bn) takeover from Japanese [...]
Lloyd’s underwriter Hiscox bounces back from catastrophe-hit 2017 with strong first quarter results May 8, 2018 Insurance firm Hiscox announced a solid set of first quarter results this morning following a tough 2017 which was marked by a series of natural disasters. The Lloyd’s underwriter increased its gross written premiums by 24 per cent on a constant currency basis to $1.155bn (£855m), up from $929m in the same period last year. [...]
Shire and Takeda finally agree on £46bn takeover deal on the morning of deadline day May 8, 2018 Pharmaceuticals firms Shire and Takeda have finally agreed on a £46bn deal which will see Japan’s Takeda take control of its London-listed rival. Shire shareholders will grab $30.33 (£22.42) in cash and 0.839 new Takeda shares, unchanged from the company’s final offer. If the deal closes, Shire shareholders will own around half of the combined [...]
Challenger bank Paragon confirms it’s in talks to acquire housebuilders’ lender Titlestone May 8, 2018 Challenger bank Paragon has revealed it is in the “early stages of considering a possible acquisition of Titlestone”, a firm which lends to residential developers. Though FTSE 250-listed Paragon – which focuses on mortgages, savings and providing business finance – did not expand on how much it was likely to offer for Titlestone, the housebuilders’ [...]
Royal Dutch Shell offloads Canadian business for $3.3bn as oil giant nears divestment target May 8, 2018 Royal Dutch Shell is selling its entire interest in Canadian Natural for around $3.3bn (£2.4bn) as the oil giant looks to reduce net debt. The firm announced this morning it had entered into an underwriting agreement with Goldmach Sachs, RBC Capital Markets, Scotiabank and TD Securities to offload just over 97.5m shares in the firm. [...]
Brexit: Foreign secretary Boris Johnson tears into Prime Minister Theresa May’s “crazy” customs partnership plan over control fears May 8, 2018 Boris Johnson has publicly slammed the Prime Minister’s preferred option for a future customs relationship with the EU, describing it in an interview as “a crazy system”. The foreign secretary has made no bones about preferring the second of the two options, known as ‘max fac’, in which trusted traders can move freely across borders, [...]
Digital Innovators: three life changing companies leading the way in the technology sector May 8, 2018 The way society lives tomorrow is changing today, as companies find new and exciting ways to apply technology to the world’s problems. Consumers can now check their bank account, book a holiday, and buy new furniture using their smartphone during the morning commute. With voice-powered assistants at home, and AI-powered, data-driven tools at work, the [...]
A Labour party that couldn’t even smash the local elections should be seriously worried May 8, 2018 At first glance, Thursday’s local elections seemed to offer something for everyone (except for Ukip, of course). But Labour should be worried – really, really worried. First, the upside – at least for self-styled progressives. The referendum has clearly removed Ukip’s main raison d’etre, and a series of soap-opera-style leadership contests has rendered it a [...]