SSE Fiddler’s Ferry coal-fired plant closure fuels fears of UK power shortage February 3, 2016 Energy giant SSE today said it's likely to close three out of four units at its Fiddler's Ferry coal-fired plant from April 1, stoking concern that the UK's aging energy infrastructure could be left even more susceptible to future blackouts. SSE said its 45-year old station near Manchester had been loss-making for two years and was expected [...]
Brent and WTI crude: Oil prices soar as the US dollar dives February 3, 2016 Oil prices surged today, helped by the tumbling US dollar following comments by a US Federal Reserve official and weak economic data. Brent crude, the international benchmark, rose 8.31 per cent to $35.44 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, added 9.3 per cent to $32.66. "We're getting the rally in crude oil from the pounding [...]
Deutsche Bank, Uni Credit, Standard Chartered share prices drop: European bank shares are tanking February 3, 2016 Shares in leading banks tumbled throughout Europe today, with Deutsche Bank and Standard Chartered falling by 6.02 per cent and 4.29 per cent respectively. A sea of red engulfed the sector as fears spread of slowing economic growth and credit losses from energy companies hobbled by low oil prices. Brenda Kelly, head analyst at London Capital [...]
Crowdfunded claims management company Rebus collapses into administration February 3, 2016 Claims management company Rebus has collapsed into administration, marking one of the biggest failures of a UK crowdfunded company. Rebus had raised more than £800,000 last year on crowdfunding platform Crowdcube to fund an expansion, according to the BBC. It comes in the wake of another high-profile crowdfunding failure a couple of months ago. Mini-drone maker [...]
Volkswagen scandal: The European parliament has passed watered-down emissions testing legislation which could contribute to thousands of deaths in London February 3, 2016 This year London exceeded one of its annual pollution quotas in just one week – but MEPs have now voted for legislation which could cause London to become even more polluted. This morning the European parliament passed controversial plans to water down standards in new real-world driving emissions tests. Even before Volkswagen was caught out [...]
BP’s chief economist Spencer Dale: Oil price volatility could be consigned to history February 3, 2016 BP’s chief economist, Spencer Dale, has said that the violent price swings which have historically riled oil markets could become a thing of the past. Dale believes the newer, nimbler US shale gas industry will change how oil markets behave over the next 20 to 30 years. "What we know from history is that the oil market takes an [...]
Index Ventures has a new $550m VC investment fund and its eye on London tech startups February 3, 2016 Europe's biggest venture capital investor and the backer of star startups such as Just Eat, Asos and Transferwise has raised millions of pounds in new funds to invest in tech startups across Europe, the US and Israel. Index Ventures has raised a new $550m (£377m) fund from its existing long-standing investor base which includes endowments, pensions and insurance funds, among [...]
“Flash crash” trader Navinder Singh Sarao due to appear in London court tomorrow facing extradition to the US February 3, 2016 The British trader accused of contributing to May 2010's "flash crash" is due to appear in court tomorrow where he faces extradition to the US. US authorities have alleged that Navinder Singh Sarao, who has been nicknamed the "hound of Hounslow", rigged the market by using an automated process to place a large number of sell orders before withdrawing them shortly afterwards [...]
Peer-to-peer lending: Why the Innovative Finance Isa and investor interest in the property market will make 2016 a turning point for P2P February 3, 2016 NULL
Valentine’s Day 2016: Groupon lets London singles take their Tinder game to a new level by projecting photo on Piccadilly Circus billboards February 3, 2016 Are you a Londoner unlucky in love? Are you cool with your face shining out from the city’s famous lights? One "lucky" singleton will have a giant photo of themselves splashed across the Piccadilly Circus billboards for half an hour on Valentine’s Day, courtesy of Groupon. Passers-by who take a fancy to the brightly-lit Londoner will be able [...]