Sajid Javid promises to increase National Living Wage to £10.50 September 30, 2019 Chancellor Sajid Javid has vowed to hike the National Living Wage to £10.50 within the next five years. Speaking to a busy Tory Party Conference hall, Javid said he would also ensure 21-year-olds can qualify for the National Living Wage. Currently the threshold is set at 25 years old. Read more: Chancellor Sajid Javid sets [...]
An open Shell: Oil major likely to miss production guidance new transparency push shows September 30, 2019 Royal Dutch Shell opened up its books ahead of its quarterly results for the first time today as shareholder pressure forced its hand towards more transparency. The oil major will start publishing a quarterly update, it said, ahead of its results. Read more: New Horizons: BP boss tasked with clearing up oil spill looks for [...]
UK first quarter growth revised upwards but picture remains stark September 30, 2019 The UK economy did better in the first quarter of the year than originally expected, official figures showed today, as stockpiling for the March Brexit date boosted growth. Read more: UK economy close to recession after stagnant service sector data Yet the Office for National Statistics (ONS) confirmed gloomy figures for the second quarter of [...]
Markets mixed on US-China trade war worries September 30, 2019 Markets globally were mixed today, with fears of a growing trade was between the US and China hitting confidence. The Ftse 100 rose two points to 7,428 points this morning, but the FTSE 250 and FTSE 250 both fell. Read more: Oil prices fall on possible limit to China investments Asian markets were affected by [...]
UK consumer credit growth slows to five-year low September 30, 2019 British customers increased their borrowing at the slowest rate since 2014 in August, official statistics showed today, in a sign that Brexit uncertainty is weighing on consumer confidence. Read more: Pound staggers as Bank of England hints at interest rate cut The annual growth rate of lending to British consumers continued to slow in August, [...]
New Horizons: BP boss tasked with clearing up oil spill looks for exit after a decade at the top September 29, 2019 The head of BP, who stepped into the top job as the company faced the biggest crisis in its history, is preparing to step down as he nears his 65th birthday. Bob Dudley’s time at the company will be marked by the scramble to deal with the fallout from the Deepwater Horizon spill and fire [...]
UK firms most pessimistic in eight years amid political crisis September 29, 2019 British businesses were at their most pessimistic in eight years in the three months to September, a survey showed today, as the country’s political crisis dragged down expectations of growth. Read more: Pound staggers as Bank of England hints at interest rate cut The CBI’s latest monthly report showed the gauge of future expectations of [...]
BP chief Dudley to step down after decade-long tenure September 28, 2019 The chief executive of BP is set to step down after 10 years of leading the British energy company. Bob Dudley is planning to retire from the role within the next 12 months, according to Sky News. The American turned 64 this month and has held detailed discussions with BP chairman Helge Lund about his [...]
Oil prices fall on possible limit to China investments September 28, 2019 The price of oil fell on Friday and was down for the week after an escalation in trade tensions between the US and China as well as a faster-than-expected recovery from Saudi Arabia’s oil production. During a volatile session, Brent fell 83 cents to end the day at $61.91 per barrel. Read more: Oil prices [...]
Donald Trump: I did not offer to lift Iran sanctions September 27, 2019 US President Donald Trump has hit out at his Iranian counterpart Hassan Rouhani after he claimed the US had offered to lift sanctions in exchange for discussions. Trump tweeted: “Iran wanted me to lift the sanctions imposed on them in order to meet. I said, of course, NO!” Read more: Oil prices tumble as Iran [...]