Fed rates kept on hold by Brexit bugbears and May’s disappointing jobs report June 15, 2016 The US Federal Reserve has voted to keep its interest rates on hold at its monthly meeting, inline with market expectations. There had previously been expectations that the Fed would hike rates for the second time in a decade this month though recently sentiment has soured. The US central bank has held the target range for [...]
Tech titans rule 2016 with $268bn of M&A activity June 15, 2016 Technology is leading the global mergers and acquisitions sector this year with $267.6bn worth of deals announced so far, according to new research by financial markets platform Dealogic. This is only the second time on record that technology deals accounted for the maximum number of M&A deals made in a year. The year 2000 saw [...]
Revised version of the Pubs Code due in July, but industry is “disappointed” it won’t be backdated to original enforcement date June 15, 2016 A revised version of the Pubs Code is set to come into force in July, but pub organisations are “disappointed” that the government has refused to make the legislation apply retrospectively. The British Pub Confederation has claimed the failure to backdate the Code to its original launch date of 26 May could leave over 400 pub [...]
London Distillery Company and Royal Botanic Gardens team up to launch Kew Organic Gin June 15, 2016 Artisan gin just got a floral makeover, as The London Distillery Company announced a collaboration with the Royal Botanic Gardens to create Kew Organic Gin. Developed at the company's London-based distillery, the gin will be crafted using "uniquely harvested seasonal flora" from the gardens and a selection of other organic botanicals from around the world. [...]
Wood Mackenzie: Oil industry to cut $1 trillion spending as North Sea hits “critical phase” June 15, 2016 The global oil industry will spend $1 trillion (£704bn) less on development and exploration in 2015-20, just as the UK's North Sea sector hits a critical phase. Development investment will be around 22 per cent less than what was anticipated before the oil price rout started in the middle of 2014. And an additional $300bn will be cut [...]
Guess which screen hero’s house this is: This company recreates famous apartments in 3D computer models June 15, 2016 Recognise the layout of this apartment? The sunken, cream-carpeted “conversation-pit” living room? The bizarre patterned wallpaper surrounding the doorway from the kitchen to the corridor, from which the downstairs neighbour has made a few rapid exits following secret trysts? It is, of course, the trendy Manhattan apartment occupied by Mad Men’s anti-hero Don Draper, and [...]
Coffee has been officially declassified as a cancer-causing substance by a World Health Organization-affiliated body June 15, 2016 Coffee lovers can rejoice today after a World Health Organization and United Nations-affiliated body declared there is not enough proof to link it to cancer. The International Agency for Research on Cancer (IARC), concluded coffee can no longer be classified as a potential carcinogen and that there may be evidence that drinking it could actually lower [...]
Sir Philip Green admits he made “a bad call” selling BHS to Dominic Chappell June 15, 2016 Sir Philip Green has said he is working on finding a solution for BHS pensioners and claimed most of the buyers who came forward for the company wanted to put it into administration. There have been some testy exchanges as Green faces a grilling from MPs, with questions so far focussing on the advisers who worked with [...]
Before the bell: What you need to know before the US market open June 15, 2016 Fed day is here chair Janet Yellen is unlikely to do anything that would surprise the markets. We'll have the decision at 7pm London time and then wait to hear from the lady herself at 7:30pm. Here's what you need to know before the market open at 14:30 London time. US futures are pointing up [...]
Tata Steel writes to UK staff on benefits of EU membership June 15, 2016 Tata Steel has become the latest employer to write to its staff on the benefits of the UK's EU membership. The Indian giant's message follows similar commentary from BT and BAE Systems earlier this week. Although the firm avoided not explicitly encourage staff to vote for either the Leave or Remain campaigns, its' European head of public [...]