Wal-Mart puts drag on Wall Street shares – New York Report August 18, 2015 US STOCKS fell yesterday, with the S&P 500 trading in its tightest daily range in nearly a month, weighed by earnings-related selling in Wal-Mart and a drop in materials stocks on concerns about China’s economic health. The Dow Jones industrial average fell 33.7 points, or 0.19 per cent, to 17,511.48, the S&P 500 lost 5.56 [...]
Meet the Gartner Hype Cycle for 2015: It’s all about self-driving cars and smart dust in emerging tech trends August 18, 2015 You've probably heard of the self-driving car, but smart dust probably isn't on your radar just yet. That's because the autonomous vehicle trend has hit what's known as the peak of inflated expectation. Smart dust on the other hand, is at the earliest stage of innovation, as defined by Gartner in its annual research on [...]
OMG! LOL! NBCUniversal invests $200m in Buzzfeed August 18, 2015 US media company NBCUniversal has made a $200m (£127m) investment in digital media upstart Buzzfeed, valuing it at more than $1bn. In addition to the widely rumoured injection of cash, the pair will work together on content for television, movies and the Olympics. They'll also work on advertising content with brands – although neither side expanded [...]
We need the facts on fracking to make responsible decisions about UK energy August 18, 2015 Today the Government announced that it will award 27 new exploration licences, opening up 1,000 square miles of the UK as potential sites for shale gas extraction. With thousands more people faced with the possibility of having it on their doorstep, the debate on hydraulic fracturing, or fracking, has been well and truly renewed. Proponents [...]
Saudi stocks drop to seven month-low as weak oil prices knock confidence August 18, 2015 Saudi Arabia's Tadawul All Share Index dropped to its lowest value in seven months today, after the International Monetary Fund (IMF) issued a warning about the country's oil dependence. The index finished the day 2.85 per cent lower at 8,197.02 points, marking the sixth consecutive day of declines. Read more: Saudi Arabia's Tadawul stock [...]
Greek government to flog operating rights for 14 airports to Germany’s Fraport August 18, 2015 It looks like Greece is about to make a start on that tough privatisation schedule it's agreed to. The government has resumed talks with German operator Fraport over the right to run 14 regional airports. A spokesperson for Fraport told City A.M. previous discussions, which took place during 2014, would recommence. "The government [of Greece] [...]
Licence to frack: Government gives green light to 27 new onshore oil exploration sites August 18, 2015 The government has given the green light for 27 licences to explore onshore oil and gas, as it looks to strengthen the UK's nascent shale industry. The Oil & Gas Authority confirmed today that the licences from the 14th Onshore Oil and Gas Licensing Round will be formally offered to companies. Sites located [...]
Bangkok blast: Foreign Office confirms British national among those killed in attack August 18, 2015 A British national was among those killed in yesterday's Bangkok bomb blast, which has claimed the lives of at least 20 people. The Foreign Office confirmed the death of a woman, who was living in Hong Kong. British Embassy staff in Thailand are assisting her family. Foreign secretary Philip Hammond said: “The loss [...]
Sadiq Khan gains backing of Neil Kinnock to be Labour’s candidate for Mayor of London August 18, 2015 Former Labour leader Neil Kinnock has pledged his support to Sadiq Khan to become the Labour candidate for London mayor. Writing for the Mirror, Kinnock said: “Labour must recapture City Hall, and our best chance of doing that is with Sadiq Khan as our candidate for London mayor in 2016.” Read more: Meet London mayor [...]
UK inflation: Pound hits seven-week high as inflation unexpectedly hits 0.1 per cent in July August 18, 2015 The pound hit a seven-week high against the greenback this morning as investors cheered a better-than-expected inflation figure. Official data showed the consumer price index rose 0.1 per cent in the year to July, from zero a month earlier, beating economists' expectations for no change. Nevertheless inflation still remains well below the Bank of England's target [...]