Imagination Technologies share price drops as chief executive Sir Hossein Yassaie leaves and chip maker sells Pure February 8, 2016 Imagination Technologies’ chief executive, Sir Hossein Yassaie, has stepped down from the troubled chip maker with immediate effect. Yassaie has been with Imagination since 1992, but is leaving as the firm attempts a major rehaul. The embattled UK chip maker has seen over 40 per cent of its value wiped off in the past three [...]
Randgold Resources share price soars on record gold production despite commodities crisis taking a chunk out of profits February 8, 2016 Randgold Resources posted record production last year, boasting it was “one of the best in its history”, despite slumping gold prices taking a chunk out of its profits. The figures Randgold, the South African gold miner, posted record-breaking production for the quarter ending 31 December, up six per cent year-on-year. The firm’s profits were down [...]
Brent crude and WTI: Low oil prices aren’t a death knell for the global economy February 8, 2016 At times like these it is easy to caught up in the rhetoric, particularly as there seems to be a race to go to press with the most unnerving and doom-laden headline. We acknowledge that downside economic risks have risen: There's generally weak data, fears of a destabilising Chinese currency devaluation and speculation that the [...]
Majority of British public think companies receiving taxpayer’s money should be subject to Freedom of Information laws – 38 Degrees February 8, 2016 Six in 10 Brits believe Freedom of Information (FOI) laws should apply to companies receiving taxpayers' money to provide public services, according to a new poll released today. The survey, commissioned by campaigns group 38 Degrees and carried out by YouGov, showed only 10 per cent of the British public would oppose applying FOI laws to [...]
European central bankers call for eurozone finance ministry February 8, 2016 The eurozone needs a stronger regulatory framework, including its own finance ministry, to deliver sustainable growth and create more jobs, the leaders of the French and German central banks wrote in a German newspaper this morning. In an article for the Sueddeutsche Zeitung, Bundesbank President Jens Weidmann and Bank of France Chief Francois Villeroy de Galhau [...]
EU referendum, slowdown in China, volatility in global markets and turmoil in the Middle East to rock UK growth in 2016 – BDO report February 8, 2016 Global economic fears and uncertainty over the EU referendum have pushed business confidence to a three-year low. The economic slowdown in China, volatility in global markets and turmoil in the Middle East are all starting to take their toll on the previously resilient UK economy, accountancy firm BDO has warned this morning. The impending EU [...]
Mining sector burning through cash reserves after commodity price crash February 8, 2016 The value of cash held by London Stock Exchange-listed mining companies fell by £1.1bn in the last year, according to research released today by Banc De Binary. The findings show a fall in cash reserves across all LSE-listed mining companies from £24.3bn to £23.2bn over the last 12 months. A drop of £780m was recorded in [...]
Consulting giants, including PwC, Accenture and IBM, club together to figure out why so many women are fleeing the profession and not returning February 8, 2016 Some of the biggest names in consulting have today joined together to figure out how they can prevent high-flying women from quitting their profession. The firms – PwC, Accenture, IBM, KPMG and PA Consulting – are collaborating with the Management Consultancies Association (MCA) and She’s Back to identify why experienced women are leaving the workplace and not [...]
Infrastructure to lift construction sector but risks are intensifying February 8, 2016 The UK's construction sector is forecast to have a strong year, but experts are warning of risks to the rosy outlook. The Construction Products Association (CPA) said today it expects construction output to climb 3.6 per cent this year and 4.1 per cent next year. Private house building is projected to rise five per cent in [...]
Manufacturing trade body EEF warns Britain risks falling behind on internet capability February 8, 2016 Britain's digital infrastructure will hold the country back during the fourth industrial revolution, a manufacturing trade body has warned today. Internet access is as essential as electricity and water, according to 91 per cent of companies surveyed. The survey from EEF also found that connection costs had gone up for half of manufacturers in the last [...]