Fake news and echo chambers help BBC Radio 4’s Today hit record listeners February 9, 2017 An "era of fake news" has helped the BBC's flagship radio news programme clock its biggest audience to date, new figures reveal. Radio 4's Today programme boasted 7.45m weekly listeners in the last four months of 2016. Listener numbers grew from 7.1m in the previous quarter and 7.03m in same quarter in 2015, according to the [...]
BHP Billiton greenlights a $2.2bn investment into BP’s Mad Dog oilfield February 9, 2017 BHP Billiton today announced it has approved a $2.2bn (£1.75bn) investment into the second phase of BP's deepwater Mad Dog oilfield. The project, located in the Gulf of Mexico, includes a new floating production facility with the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells. Production is set [...]
Snow in London as Met Office warns of wintry weekend weather February 9, 2017 Parts of London have seen snow this morning, and further showers are set to fall on the capital over the weekend. Twitter users reported a light dusting in various parts of east London. Light #snow in #Shoreditch, #London. #publicserviceannouncement — Rob (@robhallifax) February 9, 2017 It's snowing in Tower Hill! #snow #London pic.twitter.com/et6hlsTqoC — Lucy [...]
DFS warns of margin squeeze due to currency movements February 9, 2017 DFS has flagged that its margins are being eroded due to the fall in the value of the pound. The furniture retailer said that it was offsetting the effect of currency movements by negotiating prices with its suppliers. It also said that its ability to manufacture in the UK gave it a "competitive advantage". The [...]
Goldman Sachs is shifting a London hedge fund team to New York February 9, 2017 A Goldman Sachs hedge fund currently based in London is closing its doors and shifting to New York, it has been reported. According to the BBC, eight bankers working in the Goldman Sachs Investment Partners (GSIP) team are affected by the move. It is understood they have either been told their jobs are moving across [...]
End of days: Waitrose is closing six of its stores February 9, 2017 Is this the end of the middle classes as we know them? Waitrose is planning to close six stores, putting 500 jobs at risks, it has been reported. The supermarket, beloved of the chattering classes, has begun consulting with staff at six locations in Hertford, Staines, Leek, Huntingdon, Cardiff and Palmers Green (although the latter [...]
Thomas Cook shares plummet almost 10 per cent as “cautious” outlook for coming year reflects political turbulence ahead February 9, 2017 Thomas Cook has reported it reduced its year-on-year loss in its first trading quarter, but warns it remains “cautious” for the coming year with an uncertain outlook across Europe. Shares fell by as much as 9.78 per cent in morning trading in London. The figures The group’s losses in the quarter fell by £1m to [...]
GDPR is the biggest ever overhaul of data protection regulations, yet few businesses are remotely prepared for it February 9, 2017 Eclipsed by the rising moons of Trump and Brexit, the EU General Data Protection Regulation (GDPR) is approaching fast. And yet, with just 14 months until enforcement, very few businesses are prepared, let alone aware of what it entails, or its myriad implications. A Veritas study in December found less than half had set in motion [...]
Zurich profits up as chief executive’s turnaround plan takes hold February 9, 2017 Profits at Zurich soared as the Swiss insurer cut costs and operating profit at its general insurance segment rose by 182 per cent. The figures Full year net income attributable to shareholders rose 74 per cent to $3.2bn (£2.6bn). Fourth quarter income swung from a loss of $424m in 2015 to a gain of $685m. [...]
EU leaders hint there’s little to gain by choking off the City’s air in Brexit deal February 9, 2017 Pragmatism is rearing its head on the continent. Alongside recent comments from German finance minister Schauble, who has stressed the importance to Europe’s economy of finding a workable and balanced Brexit deal, we can now add EU commissioner Valdis Dombrovskis. In an exclusive interview with City A.M. today, he says it is not the EU’s aim [...]