‘Rolls Royce of whisky’ sells for world record £848,750 at auction October 3, 2018 A 60-year-old bottle of whisky has fetched a world record £848,750 at auction in Edinburgh. The Macallan Valerio Adami 1926 was bought by a private collector from Asia, who bid by phone, auctioneer Bonhams said. The whisky was in a vat for 60 years from 1926 before being bottled. Read more: The producer of the most [...]
Epiris raises £821m for first fund and targets UK-based businesses October 3, 2018 Private equity firm Epiris has closed its first fund, raising £821m, and said it wanted to add to its acquisitions of auction house Bonhams and Time Inc's UK operations. The London-based group said the fund's strategy was to target UK-headquartered businesses with an enterprise value of between £75m and £500m – deploying up to £150m [...]
Saudi oil output reaches record highs, but oil prices remain close to four-year peak October 3, 2018 Saudi Arabia's oil output has reached record highs – and the country could further boost production next month as US sanctions on Iran edge closer. Saudi energy minister Khalid al-Falih said the country had raised output to 10.7m barrels per day in October and announced a further production hike in November. The country's record high [...]
Former Stobart boss reduces stake in company after being sacked in boardroom bust up October 2, 2018 Former Stobart Group chief executive Andrew Tinkler has reduced his stake in the company after being sacked over a boardroom bust up earlier this year. Tinkler, who was fired from the board after an unsuccessful attempt to topple chairman Iain Ferguson in July, has sold part of his 7.7 per cent stake in £800m infrastructure [...]
Business groups criticise government’s post-Brexit immigration system for ‘dismissing’ low-skilled workers October 2, 2018 City groups have criticised the Conservatives' post-Brexit immigration plan and said dismissing low-skilled workers would harm businesses and the UK economy. Home secretary Sajid Javid unveiled a new policy to prioritise highly skilled workers and end freedom of movement within the European Union. Business groups said a number of sectors, such as retail and construction [...]
Ofcom to investigate EE and Vodafone over network coverage claims October 2, 2018 Ofcom has launched investigations into Vodafone and EE over claims the mobile phone giants provided inaccurate information about their data coverage in rural areas. The regulator said EE, owned by BT Group, may have over-predicted its 3G coverage in rural areas and opened an investigation into the mobile operator. Ofcom said it had also identified [...]
Offshore oil and gas workers balloted on North Sea strike action October 2, 2018 Offshore oil and gas workers are being balloted over strike action in the North Sea. GMB members working under the Offshore Contractors Association (OCA) agreement have called for a 4 per cent increase in basic pay and allowances. Workers are being balloted on whether they would support industrial strike action and action short of strike [...]
British Business Bank appoints new head of £2.5bn government-owned capital fund October 1, 2018 The British Business Bank (BBB) has appointed Catherine Lewis La Torre as the new head of its commercial patient capital fund. Lewis La Torre will take charge of British Patient Capital Ltd, responsible for investing a £2.5bn government funding package for UK venture and capital growth announced in last year's Autumn budget. The former head [...]
Royal Mail profit warning sends shares tumbling October 1, 2018 Shares in Royal Mail have crashed after the company posted a warning on profits and costs today. The UK post delivery company said it expected its adjusted operating profit to be between £500m and £550m for the year, down from £694m the previous year. Letter volumes were down seven per cent in the first half [...]
Erdogan accuses US of using pastor with ‘dark links’ to terrorists to justify sanctions October 1, 2018 President Recep Tayyip Erdogan has accused the US of using a pastor with “dark links” to terrorists groups to justify imposing sanctions on Turkey. Evangelical pastor Andrew Brunson, detained in Turkey on terrorism charges, has long been at the centre of the diplomatic spat between the two countries. Read more: Turkish courts will decide the [...]
