Oil prices reach new 2019 high as tensions rise in Libya April 8, 2019 Oil prices hit a fresh 2019 high this morning with international standard Brent crude futures reaching $70.77 (£54.21) per barrel. Read more: Unexpected rise in US oil stockpiles steals the wind from Opec’s sails Brent crude first broke through the vaunted $70 mark for 2019 on Friday, after falling to a low of $50.47 in [...]
Petrobras offloads gas pipeline to Engie as Brazilian firm looks to cut debt April 8, 2019 A consortium led by Engie has sealed the purchase of Petrobras’ Tag natural gas pipeline arm for $8.6bn (£6.6bn), in a move which helps Petrobras tackle its debt pile. Engie said this morning a consortium with Canadian institutional investor Caisse de Depot et Placement du Quebec (CDPQ) had made a successful offer for a 90 [...]
Sports Direct owner Mike Ashley confirms £150m equity offer for Debenhams as it considers 5p per share takeover April 8, 2019 Mike Ashley’s Sports Direct officially confirmed an offer to underwrite a £150m share issuance by Debenhams today on the condition that Ashley be made chief executive. The sports store chain said the underwriting of the equity issuance, which would see Sports Direct take on the financial risk involved in selling new equity to current shareholders to raise [...]
If Brexit has taught us anything, it’s that we need to be bold when it comes to world trade April 8, 2019 A little over two years ago, the first direct rail freight service from China to the UK rolled into Barking’s 165-year old station to much fanfare. Of course, the completion of this mammoth 18-day, 7,500-mile trip from the Chinese city of Yiwu marked the moment that the Belt and Road Initiative (BRI) reached the UK. [...]
Business optimism hits seven-year low as Brexit deadline grows closer April 8, 2019 Business optimism has dropped to its lowest level in seven years as the UK edges closer to the possibility of a no-deal Brexit. Read more: Cabinet Brexiter Penny Mordaunt: We must not get locked into Euro elections Sentiment is also now weaker than the low recorded following the 2016 EU referendum, as accountancy and business [...]
Let’s not let rage become the prevailing story of our nation April 8, 2019 Public morality, but private depravity – a time when keeping up appearances on the outside was very much the order of the day. You have to wonder if Brexit has turned this Victorian attitude decisively on its head. No one watching the daily media scrum on College Green could argue that today’s national conversation is [...]
Sadiq Khan’s ill-conceived pollution plan only threatens London’s push to go green April 8, 2019 From today, all private hire drivers in London will have to pay the daily £11.50 congestion charge when driving in central London. This is an enormous financial burden for some of the city’s lower paid workers – costing nearly £3,000 a year for a driver earning around £25,000. It's also hugely unfair for operators, many [...]
Carlos Ghosn ousted from Nissan board after rearrest April 8, 2019 Nissan shareholders this morning voted to dump embattled former chairman Carlos Ghosn off the company’s board only days after he was rearrested in Tokyo. Read more: Former Nissan boss Carlos Ghosn re-arrested in Japan Shareholders, voting in Tokyo, also ejected from the board Greg Kelly, an American ex-director who was seen as Ghosn’s right-hand man, [...]
Social media giants face fines in ‘online harms’ crackdown, says government April 8, 2019 Social media sites face financial penalties or blocking if they fail to tackle “online harms”, says a government white paper published today. Under a code of practice set out by the Department for Culture, Media and Sport (DCMS), an independent watchdog would police the sector, possibly funded by the industry. Read more: Social media giants [...]
Barclays plugs $6m into London financial tech startup Simudyne April 8, 2019 Financial simulation technology firm Simudyne will today announce the close of a $6m (£4.6m) series A funding round, led by Barclays. Early Snap and Lyft investor Graphene Ventures also joined the round, alongside Gauss Ventures which has previously backed digital banks Revolut and Tandem. The round raises Simudyne’s total amount of investment to date to [...]