The Bank for International Settlements is unconvinced that ending the dominance of the US dollar will protect the world economic order May 10, 2016 Ending the dominance of the US dollar will not be enough to promote stability in the international monetary and financial system, a top official at the Bank for International Settlements has argued (BIS). The BIS, often called the central bank for central banks, questioned the prevailing theory that when one currency becomes the world’s effective [...]
English and Welsh wine production dipped in 2015 due to “cooler conditions”, according to English Wine Producers May 10, 2016 Wine production in England and Wales fell by around a quarter in 2015 to 38,020 hectolitres, the equivalent of around 5.06m bottles. The drop in production was attributed to "cooler conditions" over the 2015 growing season, which also produced smaller grapes, according to the English Wine Producers body. The latest figures, provided by the government's [...]
Energy supply risk if coal-fired power stations shutdown chaotically, MP says May 10, 2016 A Tory MP has called on the government to prevent Britain's coal-fired power plants from closing all at once, potentially leading to an energy supply crunch. The UK has pledged to phase out all of its ageing, uneconomic coal-fired power stations by 2025, however, there are rising fears that these aren't being replaced quickly enough. Nigel Adams, [...]
“We’d do it all again” say Boaty McBoatface competition creators May 10, 2016 The creators of the competition which ended up producing the name Boaty McBoatface for a billion pound science research ship have no regrets and said they would do it all over again, despite the whole thing descending into farce. Appearing in front of MPs on the science and technology committee today, the National Environmental Research Council (NERC) bosses [...]
Budweiser has filed to change its name to “America” this summer May 10, 2016 Call it an act of patriotism, or just a very dedicated marketing campaign – either way the American beer maker Budweiser has filed for permission to change its name this summer… to the word "America". As a tie-in with the US presidential elections, the beer brand is looking to change its name to America for a full [...]
City law firm urges more protection for self-reporting and incentivisation for whistleblowers ahead of anti-corruption summit May 10, 2016 A City law firm is today urging the government to introduce better protection for companies which confess their wrongdoings, along with cash incentives for whistleblowers, ahead of a major anti-corruption summit being hosted by Prime Minister David Cameron on Thursday. Pinsent Masons is calling on governments to provide immunity from prosecution for businesses which self-report corruption in certain limited circumstances, while companies which [...]
PayPal co-founder Peter Thiel will be a delegate for Donald Trump May 10, 2016 Billionaire PayPal co-founder Peter Thiel is listed on the California ballot as a delegate for Donald Trump. The Silicon Valley giant was one of more than 165 names submitted to the California Secretary of State's office on Monday by Trump's campaign. Read more: Trump says that Khan could be the "exception" to his blanket ban on [...]
Russian oil boss Sechin declares Opec effectively extinct May 10, 2016 The head of Russia's biggest oil firm declared the Organisation of Petroleum Exporting Countries (Opec) effectively extinct. Igor Sechin, a close ally of Russian president Vladimir Putin, told Reuters that internal strife is killing the cartel and its ability to steer the oil market has all but evaporated. Read more: Oil and gas execs flag Opec policy as biggest [...]
Amazon just launched its own version of YouTube May 10, 2016 Amazon has upped the ante again when it comes to video with a new service which sounds a lot like YouTube. Users will be able to upload their own content through Amazon Video Direct (AVD) and it will be available to the millions of members of its Prime Video streaming service alongside movies and original TV shows, such [...]
Before the bell: What you need to know before the US market open May 10, 2016 Stock futures in the US are up on the back of a good day in Asia and a strong start across Europe. The S&P is up by 0.34 per cent, while the Nasdaq is up by 2.5 per cent. The Dow has added 0.35 per cent in the pre-market. The day's big news so far Germany's current [...]