Hundreds of jobs in peril as Sirius Minerals project under review September 17, 2019 One of the UK’s biggest mining projects, expected to provide around 1,200 jobs, was thrown into turmoil today after it was forced to scrap a $500m (£400m) bond sale and pay back $400m from a separate sale to investors. Sirius Minerals said that poor market conditions had forced it to abandon the sale which would [...]
US oil firm Vaalco looking for multi-million pound acquisitions on London listing September 16, 2019 The boss of US oil explorer Vaalco has said the company could quadruple its size through an acquisition as he announced a plan to list in London. Vaalco, which produces 3,664 barrels of oil per day from an oil field in Gabon in West Africa, sees significant opportunities to expand through mergers or acquisitions, chief [...]
Energy suppliers win four-year delay for smart meter rollout September 16, 2019 Energy suppliers were given four more years to meet their obligation to offer smart meters to all homes in Britain today, as the roll-out lags behind the previous 2020 deadline. The government said it was planning to implement “strict” new annual targets for suppliers until 2024. Missed targets could lead to fines, it added. Read [...]
Purdue Pharma files for bankruptcy amid opioid lawsuits September 16, 2019 The maker of oxycontin has filed for bankruptcy as it admitted that the company would be unable to withstand over 2,000 lawsuits claiming it helped fuel the US’s addiction to opioids. The board of Purdue Pharma approved a plan to file for bankruptcy on Sunday night, as it tries to settle the cases. Read more: [...]
Saudi oil attack: How high could oil prices go after record-breaking rise? September 16, 2019 Analysts are this morning coming to terms with the implications of an attack on two Saudi processing plants after they pushed up oil prices as much as 20 per cent. The price of Brent crude rose as high as $71.95 per barrel this morning, however its have since given back most of those gains, trading [...]
Energy giants’ stocks rise after oil prices soar on Saudi attack September 16, 2019 A major terrorist attack which wiped out half of Saudi oil production and sent oil prices soaring by record amounts has pushed up London’s energy companies this morning. BP and Shell led the FTSE 100 risers in early trading after an attack by Yemen’s Houthis knocked out half of Saudi Arabia’s supply, of 5 per [...]
Topshop bottom up as it flounders in rough retail space September 12, 2019 Topshop and Topman sprung a leak in Philip Green’s pocket last year, as its parent company said it had faced a year of stiff competition. Loss before tax at the clothes retailer grew to £505m in the financial year ending 1 September last year. It was a strong rise from 2017’s much less damaging £3.8m [...]
British Airways cancels more flights as strikes bite September 12, 2019 British Airways said today it is cancelling several flights at the end of this month as pilots prepare to go out on strike. The airline did not say how many flights would be affected, but promised to let customers know. “We are now contacting all those affected to offer them a full refund or a [...]
Currency and commodities trades to be taxed under new Labour proposal September 12, 2019 The Labour Party today endorsed a proposal which would levy a £2.1bn a year tax on currency and commodity trading. Shadow Chancellor John McDonnell said the party will adopt a plan proposed by the Progressive Economy Forum think tank. Read more: Labour pushes for parliament recall after Operation Yellowhammer sheds light on no-deal Brexit It [...]
Ex-Terra Firma boss poised to join Heylo September 11, 2019 The former boss of private equity house Terra Firma is set to be announced as the next chief executive of Heylo, a British provider of affordable housing. Andrew Geczy will be tasked with accelerating Heylo’s expansion, Sky News reported. It owns Home Reach which has delivered 4,000 properties and has raised hundreds of millions of [...]
