Oil prices could spike at $500 on a war between Saudi Arabia and Iran January 13, 2016 A leading academic has warned a full scale war between Middle Eastern rivals Iran and Saudi Arabia could send oil prices as high as $500 per barrel. The two countries' long-running regional rivalry is borne out in a series of proxy wars across the Middle East, such as the one which is being waged in Yemen. But relations soured recently when [...]
Someone should tell Bruce Willis: Nasa has a new Planetary Defence Coordination Office in case of Armageddon January 13, 2016 You can cross Armageddon-style asteroids off your list of things to worry about in 2016: Nasa has launched a new Planetary Defence Coordination Office to oversee all of the space agency's efforts to protect the Earth. The office will track and classify all comets and asteroids that pass near the Earth, warn of potential impact, and plan and co-ordinate an [...]
King’s Cross station reopened after “Mr Sands” alert and evacuation over false alarm January 13, 2016 King's Cross station was reopened after being evacuated this morning over an emergency alert. Commuters reported being evacuated from the Underground during rush hour today following a tannoy announcement for "Mr Sands". That is the code to alert staff and services including the police and London Fire Brigade to an emergency such as a fire. It's a long-standing code, first [...]
Sainsbury’s share price drops, while Home Retail Group’s rises on back of detailed plan for renewed Argos bid January 13, 2016 Sainsbury's trading update may have beaten expectations – but attention has been focused on the supermarket's bid for Argos parent Home Retail Group. Although the original offer was rebuffed, Sainsbury's has until 2 February to decide whether to make a second bid. Renewed speculation has pushed Home's share price up five per cent, although Sainsbury's share [...]
Bank of England’s monetary policy committee: Why rate-setters could surprise on January 2016 risks January 13, 2016 A lot can happen in a month. Since the last monetary policy committee (MPC) meeting, oil prices have fallen to new lows, UK gross domestic product has been revised down and concerns about China have entered another acute phase. Given the dovish MPC has a reputation for caution, how will it deal with the latest curve balls? [...]
DMGT boss Martin Morgan is stepping down at the end of 2016 January 13, 2016 The boss of the Daily Mail and General Trust (DMGT) has announced he is leaving the publishing group at the end of the 2016, after eight years in charge. Martin Morgan, who joined the group in 1989, said he will spend the year executing 2016 priorities, Under his tenure, the website of the Daily Mail newspaper MailOnline [...]
MPs to vote on idea of England adopting an official national anthem separate from God Save the Queen January 13, 2016 There's a chance you may find yourself belting out a new anthem as the England football team stand, shoulder to shoulder, chests puffed out with pride, before the final of the 2016 UEFA European Championship in Paris this summer. Okay, that's unlikely to happen, given England's record. But you may be singing a different anthem to their other matches: MPs could to [...]
Why sugar taxes don’t work: They are effective revenue raisers, precisely because they are so ineffective at changing behaviour January 13, 2016 You get the impression from sugar tax campaigners that nobody has ever tried taxing food and soft drinks before. There is heavy reliance on computer models and predictions rather than real-world evidence. There is a reason for that. There have been dozens of taxes on sugary drinks around the world and none of them have [...]
Ted Baker posts double-digit sales growth over Christmas January 13, 2016 Ted Baker has avoided the warm weather woes hurting other fashion retailers this year to post a double-digit increase in sales over Christmas. The figures The lifestyle brand increased retail sales 10.1 per cent in the eight weeks to 9 January. Its ecommerce arm performed particularly well, with sales up 39.1 per cent. Average [...]
Sports Direct’s share price rises after increasing US exposure with stake in Dick’s Sporting Goods and increased holding in Umbro parent Iconix January 13, 2016 Mike Ashley's Sports Direct has increased its stake in Umbro's US owner Iconix Brand Group and taken a holding in US retailer Dick's Sporting Goods, flexing its international muscles further. Sports Direct now owns just over 11.5 per cent of Iconix, which bought Umbro in 2012, having built up a position in the business since November. The retailer, which [...]