The Russian rouble (RUB) is falling further as pressures mount over US sanctions and Syria April 11, 2018 The Russian rouble fell for a third day today as the fallout from new US sanctions continued to heap pressure on Russian companies and markets. After dropping around eight per cent since the start of the week, the rouble shed nearly a further three per cent this afternoon, with one dollar buying 65 roubles at [...]
Brent crude oil price: Donald Trump’s tweets send oil prices to December 2014 high of nearly $72 per barrel April 11, 2018 Oil prices have rocketed to their highest point since December 2014 after US President Donald Trump threatened to fire missiles at Syria in a tweet. “Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming,” the President wrote on Twitter. Oil prices had already been [...]
UK money laundering fines fall from last year’s record high April 11, 2018 The number of UK professionals fined for money laundering fell last year by 20 per cent from a record high in 2015-16. According to data included in a new report by HM Treasury the number of professionals, including accountants and lawyers, fined for money laundering in 2016-17 fell 20 per cent to 935 from a [...]
US dollar tumbles as pound hit two-week high of $1.42 (GPDUSD) April 11, 2018 The US dollar is trading at nearly its lowest point in two weeks, after Chinese President Xi Jinping promised to cut import tariffs, easing concerns about a US-China trade confrontation. Meanwhile, sterling continues to rally, hitting a two-week high to trade at $1.42. The dollar dropped against a basket of six major currencies, down to [...]
Mark Zuckerberg’s net worth rocketed by almost $3bn as he gave evidence to Congress April 11, 2018 The net worth of dot com billionaire Mark Zuckerberg skyrocketed by almost $3bn as he gave evidence to the US Congress on the Cambridge Analytica scandal yesterday. The 33-year-old, who owns 16 per cent of the shares in the company he founded, saw his net worth rise by 4.4 per cent as he answered questions [...]
Saudi Aramco and Indian group to build $44bn mega refinery and petrochemicals complex April 11, 2018 Saudi Arabia’s state oil giant has signed an agreement with Indian consortium Ratnagiri Refinery and Petrochemicals to develop a $44bn (£31bn) mega refinery in India. Saudi Aramco signed a memorandum of understanding today to jointly develop and build the complex in Ratnagiri, in the state of Mahrarashtra, with a group of firms including the Indian [...]
ONS Survey: UK construction continues to tumble as manufacturing slows April 11, 2018 Construction and manufacturing across the UK have continued to fall, according to analysis from the Office for National Statistics (ONS). The February ONS figures show that construction fell 1.6 per cent month-on-month, and was down three per cent compared to February last year. Read more: Snow no: Construction activity shrinks in March after unusually bad [...]
Trinity Mirror’s Express takeover slowed down as competition regulators lift up the bonnet April 11, 2018 Britain’s competition regulator today launched an investigation into the sale of Richard Desmond’s Express newspaper stable to the owner of the Daily Mirror. Media giants Trinity Mirror and Northern & Shell agreed a £127m deal in February, ending Desmond’s 18-year association with some of Britain’s most popular newspaper and magazine titles. Just £48m will be [...]
UK venture capital investment slumps in Q1, though London fintech is still on top April 11, 2018 Venture capital (VC) investment has slowed considerably in the first quarter of 2018, according to a new study from advisory firm KPMG. VC investment in the first three months of the year rose just above $1bn (£705m), well short of the $2.8bn invested in the fourth quarter of 2017. The dip follows a blockbuster 2017, [...]
The UK must set its own rules after Brexit April 11, 2018 Given the complexity and sensitivity of Brexit negotiations it is unsurprising, though frustrating, that we haven’t heard a great deal about the kind of country of the UK is going to be when no longer a member of the EU. Agreeing the terms of departure is taking up an enormous amount of time and energy, [...]