Spain’s trade deficit fell by 22.5 per cent in 2016 February 20, 2017 Exports from Europe’s fifth largest economy rose to their highest level on record, while the trade deficit fell to its second lowest level since 1997, according to Spain’s economy ministry. It left the economy with a trade deficit of €18.8 billion euros (£16bn) for 2016, while the value of exports reached €254.5bn, an increase of [...]
Dubai’s International Finance Centre grew by 14 per cent last year February 20, 2017 Bosses at the state-owned financial free zone, known as the DIFC, say there has been a 10 per cent increase in financial firms registered in the DIFC, and a 17 per cent rise in non-financial companies. Profits at Dubai’s financial district grew by seven per cent in 2016, totaling Dh421m (£92m). Dubai is among a [...]
After delaying an auction due to the demonetisation policy in India, Gemfields sees full year earnings slipping February 20, 2017 Gemfields today said its decision to delay an emerald auction because of India's demonetisation programme will drag down full-year revenue and core earnings. Shares in the precious stone miner, which is listed on the Alternative Investment Market (Aim), fell as much as 7.9 per cent to 46.5p this morning. The Indian demonetisation programme, which has hurt smaller [...]
UK drivers spend an average of 32 hours in traffic – costing Londoners £1,911 each last year February 20, 2017 The UK been has ranked the 3rd most congested in Europe – drivers spend an average of 32 hours a year in traffic jams during peak times, according to a report by traffic information company Inrix. Over 1,000 cities worldwide were included in the study, and London was named the seventh worst for congestion and [...]
Politicians must tread carefully on M&A intervention February 20, 2017 It is common in business and politics today to talk about "signals". Brexit is either a signal of our desire to cut ourselves off from the world, or a sign that we’re set to become a kind of expansionist high-seas merchant. From immigration to Donald Trump, foreign policy to international aid, perceptions are increasingly being [...]
Demand in UK industry reaches two-year high despite price rises says CBI February 20, 2017 Demand for UK-manufactured goods rose to a two-year high in the three months to February with output expectations rising to their highest since September 2013, according to a survey of industrial firms. More than a quarter of the industrial firms polled reported total orders above normal levels, according to the Confederation of British Industry (CBI). [...]
Fresh talks to go ahead between Southern rail and Aslef union to try and put the brakes on the strike saga February 20, 2017 Fresh talks will be held between Southern rail and train drivers' union Aslef after members of the union rejected a previously agreed deal last week. The agreement was expected to bring the row over the so-called driver-only operated trains to a close and end the ongoing industrial action that had disrupted the network, subject to the referendum [...]
Vehicle rental company backed by Bridgepoint to announce takeover of Coca-Cola truck provider February 20, 2017 A northern private equity-backed vehicle rental company is set to announce the takeover of a local rival that provides trucks to clients including Coca-Cola, City A.M. can reveal. Leeds-based Zenith, which private equity house Bridgepoint bought from HgCapital for £750m last month, has agreed a deal for CVL, which is also based in Leeds. Read more: Private equity [...]
Hey London renters: Stop complaining – it could be a lot worse February 20, 2017 Tenants in London may be saddled with eye-wateringly expensive rental prices – but it could be a lot worse. Analysis of data for City A.M. by Statista suggests London is only the 11th most expensive place to rent in the world – with renters in San Francisco paying almost twice as much as those in the [...]