AmazonFresh parks tanks in Waitrose territory with expansion into Home Counties February 8, 2017 Already widely available across London, Amazon’s grocery delivery service is now expanding into the suburbs of Hampshire and Surrey. Launched in June last year, AmazonFresh was initially available within 69 London postcodes, before increasing its remit to 190 postcodes in the city and a total of 260 across the country. Amazon says that “Prime” customers [...]
Nimbyism in decline as housing shortage bites February 2, 2017 The construction of new homes is now a top five priority for voters, with increasing numbers of people willing to support housing projects in their local area. A report by the Centre for Policy Studies, a think tank, suggests attitudes to new builds have changed dramatically over the last ten years. Citing a British Social [...]
Saudi oil minister welcomes Trump energy policies February 1, 2017 The Trump administration’s energy policies, including planned growth in US oil production, are good for the oil industry, according to Saudi Arabia’s oil chief. “He has steered away from excessively anti-fossil fuel, unrealistic fossil fuel policies,” Khalid Al-Falih said in a BBC interview. As a candidate, Donald Trump had warned that he would be taking [...]
World’s largest hedge fund warns on Trump February 1, 2017 The founder of Bridgewater Associates, Ray Dalio has told investors he is increasingly concerned that Trump’s “populist” programme will be harmful to the world economy in the long-term. Dalio had been optimistic about the so-called “Trump Bump” back in November last year. Bridgewater’s co-chief investment officer Bob Prince joined Dalio in making the warning in [...]
Japan PM hits back at Trump currency manipulation claims February 1, 2017 The Japanese Prime Minister, Shinzo Abe has refuted suggestions that his government is deliberately manipulating the yen, which has fallen by 15 per cent against the US dollar since Trump’s election in November. Abe and his officials said Japan was fully committed to its obligations as a member of the G7 and G20 not to [...]
£3.5m share bonus for outgoing Burberry CEO January 31, 2017 Outgoing Burberry CEO, Christopher Bailey, has received 215,000 shares in the business, with a total value of £3.5m. Bailey is one of a number of Burberry executives that have been awarded performance-contingent share packages in 2017, after the fashion retailer postponed its rewards scheme last year. Burberry’s sales are believed to have benefited from the [...]
MasterCard profits up six per cent in Q4 January 31, 2017 MasterCard, the world’s second largest payments processor, saw revenues decline but profits increase during the final quarter of last year. Net income rose by 4.8 per cent to $933m, compared to $890m 12 months ago. Revenue fell slightly short of analysts’ estimates of $2.79bn, coming in at $2.76bn. Quarterly profits for the three months to [...]
UPS shares down six per cent on Q4 loss January 31, 2017 The package delivery giant United Parcel Service reported a final quarter net loss of $244m in 2016. Revenue increased by five per cent, up to $16.93bn. Dividends totaling $2.8bn were paid in 2016, which also saw 25.5m shares repurchased by UPS for roughly $2.7bn. Reduced revenue in the domestic US package business was partly to [...]
MPs’ gambling report criticised by bookies January 31, 2017 A report into fixed odds betting terminals (FOBTs) has been criticised by bookmakers as a biased inquiry and a threat to jobs. Backed by a cross-party group of MPs, the report has recommended that the maximum stake on FOBTs be reduced from £100 to £2 in a bid to reduce addiction to gambling and antisocial [...]
Diageo investing €25m in new Irish whiskey brand January 31, 2017 The world’s largest spirits producer will launch a new whiskey brand “Roe & Co” in March with bottles expected to retail at around £30. Until a new facility is completed at the company’s Guinness HQ in Dublin, Roe & Co will be produced from whiskies sourced across the firm’s Irish distilleries. The investment marks a [...]
