International Energy Agency warns of “relentless” oil oversupply next year if Opec output cut fails to cap production November 10, 2016 The International Energy Agency (IEA) has warned global oil markets risk another year of "relentless" oversupply if Opec does not hash out a firm production cut later this month in Vienna. In its monthly oil market report, the agency pointed to other producers boosting output and global demand remaining flat as increasing threats to a [...]
Rubik’s Cube legal puzzle leaves toy maker frustrated November 10, 2016 The makers of the world-famous Rubik's Cube have been frustrated by the top European court. Seven Towers, which manages Rubik's Cube intellectual property rights, have been told the cube's distinctive shape is not sufficient to grant it protection against copycats. German toy maker Simba Toys brought a challenge against a 1999 European Union Intellectual Property Office (EUIPO) trademark [...]
Hammond vows “constructive” relationship with Trump but falls short of supporting his policies November 10, 2016 Philip Hammond has said Britain will have a "constructive" relationship with the US under Donald Trump, but gave warnings that he did not agree with the President-elect's plans to slap tariffs on foreign goods. The chancellor, speaking to the BBC this morning, said that he hopes talks will still be helpful, but indicated he would [...]
Donald Trump’s ambiguous trade policy is a massive opportunity for Britain to catalyse the creation of a new Prosperity Zone November 10, 2016 Much ink has been expended on what a Donald Trump presidency will mean for trade. He has promised at various times in his campaign to slap 45 per cent tariffs on China and Mexico, to pull the US out of Nafta and the WTO, and has railed against the TransPacific Partnership. Naturally many people have assumed [...]
Thanks Carney: Aldermore’s results boosted by Bank of England scheme November 10, 2016 Aldermore revealed today that it has boosted its new lending during the first nine months of the year, with a little help from a recently introduced Bank of England funding scheme. The figures The challenger bank announced it had generated £2.3bn in new lending during the first nine months of 2016, up 20 per cent [...]
Vedanta Resources’ share price leaps 15 per cent after the firm says it expects zinc production to rise and declares an interim dividend November 10, 2016 FTSE 250-listed metals group Vedanta Resources' share price rocketed more than 15 per cent today after the firm said it expected its zinc production to rise and declared an interim dividend. The figures Revenue at the India-based group dipped 15 per cent to $4.9bn (£3.9bn) in the six months to 30 September, while earnings before interest, tax, [...]
Theresa May woos Chinese vice-premier in London, pushing major investment projects November 10, 2016 Theresa May vowed to begin a "golden era" of relations with China as she welcomed overseas investors to the UK today. The talks are the latest in a series of annual summits between the UK and China, started by the former chancellor George Osborne. China invested over £3.8bn in the UK in 2014. Chinese contractor [...]
“I’m not in the camp of ‘the world’s about to come to an end'”: FTSE 100 private equity boss backs business to succeed after Brexit and Trump votes November 10, 2016 The chief executive of FTSE 100 investment group 3i believes Donald Trump and the Republicans can be a boost for business. Asked what impact President Trump would have on the company, Simon Borrows said: “Republican administrations tend to be good for business and good for the markets. So I’m not overly concerned about the impact [...]
Deloitte fined a record £4m by accountancy watchdog over audit of Aero Inventory November 10, 2016 Deloitte has been fined a record £4m by the accountancy watchdog for misconduct in its audit of AIM listed Aero Inventory in the run up to its administration in 2009. In particular, the Financial Reporting Council (FRC) claims the accountancy giant, along with partner John Clennett, fell short of the standard expected when auditing the company in [...]
Waitrose is changing the rules on free coffee at more stores November 10, 2016 Waitrose fans, brace yourselves. Especially if you're a commuter. A rule change to the supermarket's incredibly popular free coffee offer caused outrage among middle England in October, and now it will apply to even more stores. Read more: Most people are enjoying the John Lewis Christmas advert. A few aren't Kale-lovers in more locations will soon have [...]