Saudi Aramco strengthens grip on South Korean demand with $1.6bn deal for Hyundai Oilbank stake January 28, 2019 The world’s largest energy company Saudi Aramco is looking to take a $1.6bn (£1.2bn) stake in a South Korean oil refiner, as it seeks to diversify its portfolio. The firm is planning to take a 20 per cent of Hyundai Oilbank, the smallest refiner in the country. Read more: Saudi Aramco signs $25bn in deals as [...]
DEBATE: Will the new Franco-German pact help heal the EU’s divisions? January 28, 2019 Will the new Franco-German pact help heal the EU’s divisions? Dr Andrew W M Smith, historian of modern France at the University of Chichester, says YES. From its inception, European integration revolved around the axis of Franco-German unity. In 1963, Charles de Gaulle and Konrad Adenauer tied the knot at the Elysee palace, and Emmanuel [...]
Wages on the rise as 2019 set to be a ‘buyers’ market’ for UK’s top professionals January 28, 2019 Wage growth could be set to rise as employees express optimism over securing higher salaries and the UK's statistics body revealed that worker's pay growth hit a ten-year high at the end of 2018. UK wages have grown on average by just 1.9 per cent a year, according to the Centre for Economics and Business. However, [...]
Brexit shows it’s time for an economic shake-up from the Tories January 28, 2019 The Brexit weather forecast remains distinctly foggy in all areas as we enter yet another crucial week in Westminster. Will we ever see daylight and opportunity out of this sickening political morass? As I said to the BBC Question Time audience last week, I think this parliament ranks as the most dismal in living memory. [...]
Shell to announce pumped up profits on high oil prices January 27, 2019 Oil giant Royal Dutch Shell is set to announce soaring annual profits this week, although fourth quarter results will be affected by a drop in oil prices at the end of last year. Net income is expected to rise 34 per cent to $21.1bn (£15.9bn) in the full year to the end of December 2018, up [...]
Energy watchdog to launch review in a bid to protect businesses from abusive brokers January 27, 2019 The UK’s energy regulator is to launch a review of the energy market for small businesses this year in a bid to stamp out abusive practices by brokers. Ofgem said it will conduct a strategic review of the microbusiness retail market “to understand market challenges and consumer experience” and to identify actions it should take [...]
The Bureau of Investigative Journalism secures £800,000 to fund growth January 25, 2019 The Bureau of Investigative Journalism has secured a new round of fundraising, bucking the trend after a torrid week of job cuts among digital media outlets. The not-for-profit news organisation said it has received £800,000 over two years from global charity Luminate, which was set up by eBay founder Pierre Omidyar. Read more: Buzzfeed and Verizon [...]
Credit card spending shoots up as customers turn to extra protections January 25, 2019 UK credit card users spent almost nine percent more last month than the year before, as more customers start using credit as their go-to way of paying at the tills. Britain’s £11bn of credit card spending last month rose 8.8 per cent year-on-year, while the outstanding level of credit card borrowing grew 4.7 per cent [...]
ECB Headwinds, IMF downgrade for Europe – What Can We Expect from 2019? January 25, 2019 | City Talk This week bankers and leaders around the globe have come together for the World Economic Forum in Davos. A key topic has been what we can expect from 2019 and beyond, in the face of a global slowdown, climate change, the US shutdown, trade wars and Brexit. On top of that, the ECB revealed that [...]
Venezuela is a humanitarian crisis – and the British left just laughs January 25, 2019 “Nice company you’ve got there, @Dyson! Shame if we nationalised it.” So tweeted Owen Jones, Guardian columnist and fierce supporter of Jeremy Corbyn, in response to news that Dyson is relocating from Britain to Singapore. The tweet sparked the predictable outrage from people who believe that a private company should be able to take its [...]