Brent crude oil slides after rally despite hurricane upgrade October 1, 2015 It's been a rollercoaster ride of a day for oil investors, who earlier watched prices rise after a report suggested demand is likely to be higher than expected – before prices dipped again, after it was a tropical storm due to make landfall in the US next week will be less intense than expected. Brent [...]
Bank of England hints at raising banks’ emergency buffer October 1, 2015 The Bank of England's Financial Policy Committee (FPC) has hinted at raising the amount banks are required to hold in case of emergency, it emerged today. Minutes of a meeting by the FPC last week show the committee, which includes Mark Carney, Ben Broadbent and Sir Jon Cunliffe, discussed hiking the countercyclical capital buffer (CCB), [...]
Mike Lynch launches $150m lawsuit against Hewlett-Packard in UK High Court October 1, 2015 Another chapter in the never-ending saga that is Hewlett-Packard's fight with former Autonomy boss Mike Lynch, after Lynch announced today he was launching a $150m lawsuit against the US printer manufacturer in Britain's High Court. In a statement today, Lynch accused HP of making "many statements that were highly damaging to me and misleading to [...]
Brewdog sets record with £10m crowdfunding campaign October 1, 2015 Brewdog, one of the UK's first craft beer brewers, has raised £10m through a crowdfunding initiative, the company said today – setting a world record for the biggest equity crowdfunded project in the world. That surpasses the previous record of $6m (£4m) by more than 50 per cent. This isn't the first time the company, [...]
Another boost for the Northern Powerhouse, as Government and Network Rail quietly restart “paused” TransPennine and Midland Mainline electrification programmes September 30, 2015 It was the "pause" that created uproar among northern commuters – but today the Department for Transport quietly announced it will begin work on the electrification programme of the TransPennine and Midland Mainline routes. Plans to pause the programme were announced by transport secretary Patrick McLoughlin back in June, when he admitted the programme was [...]
As Volkswagen’s woes trundle on, Porsche names new chief executive September 30, 2015 Porsche – whose chief executive Matthias Mueller sped off to Volkswagen last week to cope with its ongoing emissions scandal – has wasted no time in installing a new leader behind the wheel: the company named Oliver Blume, a member of its executive board for production and logistics, as new chief executive. Blume has previously [...]
Savills: London house prices for the Capital’s most expensive properties have been dented by new stamp duty rules September 30, 2015 London's most expensive properties have been dented by strict new stamp duty rules, new research from upmarket estate agent Savills has shown, with prices in central London falling 4.6 per cent in September, compared with the same month last year. The heart bleeds… The research suggested new rules introduced in last year's Autumn Statement, which [...]
Pound wobbles as UK GDP growth is revised lower for the second quarter September 30, 2015 Mixed news from the Office for National Statistics, after its final estimate of UK GDP held second-quarter growth at 0.7 per cent, but revised year-on-year growth for the quarter down to 2.4 per cent, from the 2.6 per cent it originally thought. The pound fell to a five-month low against the US dollar to $1.51 [...]
How to get a job at Deloitte: It doesn’t care which university you went to September 30, 2015 If you're a school leaver who missed out on getting a place at Oxbridge, worry not – for accountancy giant Deloitte has become the latest City institution to say that as long as your qualifications are ok, it doesn't care which university you went to. The company said it wants to rid its halls of [...]
Nationwide: Annual UK house price growth edges up September 30, 2015 Annual UK house price growth rose in September for the first time since May, figures by Nationwide have shown – although the figure was a far cry from the same period this time last year. Prices rose 3.8 per cent in the year to September – up from August's 3.2 per cent, but considerably lower [...]
