Go Tell A Watchman: Harper Lee’s new novel becomes Amazon’s most pre-ordered book since Harry Potter and the Deathly Hallows July 10, 2015 Harper Lee's hugely anticipated novel Go Set A Watchman has become Amazon's most pre-ordered title since the final Harry Potter book, The Deathly Hallows. The novel is due to be published on 14 July – almost 55 years to the day Lee's debut came out to much acclaim. It went on to win the [...]
Oil prices still haven’t hit rock bottom, says International Energy Agency, even after Brent crude falls below $60 per barrel July 10, 2015 Global oil demand will slow in 2016, the International Energy Agency (IEA) has predicted in its latest monthly report. The world’s leading energy forecaster warned rebalancing of supply and demand in oil market has “yet to run its course”. Oil prices have fallen 60 per cent in the past year, with US benchmark WTI trading [...]
Ryanair share price up after approving IAG’s offer for Aer Lingus stake July 10, 2015 Ryanair’s board has voted unanimously to sell its 29.8 per cent stake in Aer Lingus to International Airlines Group (IAG), the parent company of British Airways. Despite attempts by the low-fare airline to keep hold of its stake in its Irish rival, it was ordered to sell it by competition regulators in 2012. After months of [...]
InterContinental Hotels share price jumps after selling off InterContinental Hong Kong for $938m July 10, 2015 Shareholders’ hopes will be raised after InterContinental Hotels Group said it had sold the InterContinental Hong Kong, one of its flagship hotels. The hotelier announced the sale of the five star hotel to Supreme Key, a consortium of investors, early this morning. The deal is a continuation of IHG’s sell-off strategy, under which the chain [...]
After US launch Primark heads for Italy; opening first stores in Milan next year July 10, 2015 Primark is so inspired by its "Primarni" nickname, it's entering the Italian market ahead of schedule, it said today. The fashion brand will open the first of up to three Italian stores in Milan next summer, according to owner Associated British Foods. Shares in the group rose, following a trading update reporting a “modest decline” [...]
Rationale of bank surcharge under fire as IFS think tank blasts George Osborne’s 2015 July Budget July 9, 2015 A leading think tank has criticised the volatility of the UK’s bank levy and the thinking behind a new bank surcharge as part of a wider assault on what it described as a “deeply disappointing” Budget. There would have been 13 different bank levy rates in 10 years by 2020 under Wednesday’s Budget plans, [...]
George Osborne’s productivity plan: Tories promise housebuilding boom to lift economy July 9, 2015 Chancellor George Osborne will today put housebuilding at the centre of his plans to reverse Britain’s poor rates of productivity. Alongside business secretary Sajid Javid, Osborne will argue that “sweeping new changes to planning laws” can boost productivity by allowing people to live – and businesses to be located – in more efficient areas. The [...]
City plays down living wage cost fears but hospitality industry could struggle July 9, 2015 Analysts predicted yesterday that UK retailers would largely dodge the effects of the new national living wage but warned the leisure and hospitality industry would face tough times. In a surprise move on Wednesday George Osborne announced a new minimum wage of £7.20 per hour from April next year for workers over the age of [...]
Coty lands sweet smelling $12bn Procter & Gamble beauty deal July 9, 2015 In a transaction valued at $12.5bn (£8.1bn), multinational consumer goods company Procter & Gamble (P&G) has agreed to sell 43 of its brands to global beauty products manufacturer Coty. The various brands acquired by Coty include Max Factor, Hugo Boss and Lacoste, and all compete in the hair care, retail cosmetics and fine fragrance sectors. [...]
China tries to calm stock market chaos: As panic grips markets, authorities have unleashed a range of weapons July 9, 2015 China's stock markets are in the midst of a crash, and with panic spreading, authorities have stepped in with drastic measures to prevent a looming disaster. Over the last 12 months the Shanghai Composite soared 180 per cent in a spectacular bull run which came to an abrupt end mid June. Since then, the [...]