Qatar invites all Opec members to April talks April 10, 2016 Qatar has extended invitations to all members of the Organization of the Petroleum Exporting Countries (Opec) to join talks over freezing output at January levels. The meeting, set for 17 April, will also be attended by non-Opec Russia, with other major producers also invited. “The need has become an urgent matter to bring back balance [...]
Steel group warns over China’s continued steel production April 10, 2016 The government must do more to combat the flood of cheap steel coming from China, the director of sector trade body UK Steel has warned, after it was revealed China's planned cuts will not remove an on-going supply glut. “This puts into stark focus the need for the UK government to work with Brussels in helping [...]
Copper records worst price fall since January April 10, 2016 Concerns are rising over the outlook for metal prices after copper last week recorded its biggest weekly loss since January due to fears demand in China will fail to return. The slip has hurt miners bottom lines in recent months. Rising stockpiles of metal at exchanges have added to worries, compounding the impact of souring [...]
UK cyber security company Darktrace embarks on funding round to secure $400m valuation April 10, 2016 UK cyber security company Darktrace has turned to Silicon Valley in a bid to secure funding which would see the company valued at $400m (£283.2m). The company, which is headquartered in both Cambridge, UK, and San Francisco, USA, was founded in 2013 by mathematics and computer specialists from the University of Cambridge and intelligence experts from MI5 and GCHQ. [...]
UBS Wealth Management – people working past 65 despite being able to afford to retire (maybe) April 10, 2016 NULL
Macquarie gearing up to sell Thames Water in a deal that could reach more than £3bn April 10, 2016 Australian bank Macquarie is gearing up to sell British utilities giant Thames Water in a deal that could reach more than £3bn. Macquarie, which acquired Thames Water in a debt-fuelled deal with Germany’s RWE in 2006, has hired investment bank Nomura to assist with the sale of its 26 per cent stake in Britain’s largest water company, [...]
Tourist boom putting pressure on Cuba’s beer industry April 10, 2016 The influx of American tourists into Cuba may have worked wonders for its travel and leisure industry, but the boom has taken a toll on the country’s main brewer. In recent weeks beer sellers have been running out of the Caribbean island’s two favourite brands, Cristal and Bucanero. The shortages have been fuelled by the increase [...]
City better wins big on a modest bet at the Grand National, but one high-flyer wasn’t so lucky April 10, 2016 Congratulations to the unnamed City worker who made a handsome profit on the Grand National this weekend. Bookies at Ladbrokes tell The Capitalist that a besuited worker visited the firm’s Moorgate branch last week to place a modest £50 bet on winner Rule the World; owned by Ryanair boss Michael O'Leary and then an outsider at [...]
Treasury planning crackdown on bitcoin and cryptocurrency anonymity in bid to tackle criminal use of digital currencies April 10, 2016 Ministers at the Treasury are planning a shake-up in the world of cryptocurrencies that will mean bitcoins and other virtual currencies can no longer be purchased anonymously. The change in the law, which the Treasury is preparing to introduce next year, will subject bitcoin exchanges and wallets to the same regulations as high street banks, [...]
IMF: Global economy needs negative interest rates, despite massive side effects April 10, 2016 Negative interest rates are the right policy for the world economy, the International Monetary Fund (IMF) has said, though it has warned central bankers and policymakers to stay vigilant about the potential for the “unprecedented” policy to cause significant side effects. A study published ahead of the IMF’s spring meeting in Washington DC alongside the [...]