UK to get more gas from a Russian firm as Centrica extends deals with Gazprom May 13, 2015 The UK's dependency on gas from Russian firms just increased, after Centrica signed a deal with state energy giant Gazprom – as well as Norwegian rival Statoil – to ramp up the amount of gas it buys from the companies. Centrica, which owns British Gas, said it had extended its contracts with Statoil and Gazprom [...]
The European Commission just unveiled strict new migration rules May 13, 2015 Suddenly, George Osborne's mission to renegotiate the UK's relationship with Europe just got more urgent: the European Commission (EC) has just unveiled new emergency migration measures, designed to stem the tide of migrants attempting to cross the Mediterranean. Frans Timmermans, the EC's vice president, said the "tragic loss of life in the Mediterranean". Last month [...]
Wage growth jumps again while unemployment falls to another post-financial crisis low May 13, 2015 Average weekly wages excluding bonuses rose by an inflation-busting 2.2 per cent in March, official figures published this morning showed – a welcome relief for consumers. Read more: Bank of England cuts UK growth forecasts Meanwhile, unemployment fell to another post-financial crisis low of 5.5 per cent (that's the best figure since July 2008), while [...]
London house prices: Allsop to auction new-build London flats online – so you can bid on a home from your sofa May 13, 2015 Bargain hunters are used to getting their hands on decrepit "fixer-uppers" at auction. But for the first time ever next month, they will be able to get their hands on a set of sparkly new flats – in an online auction. Auctioneers Allsop will sell off homes at the West Drayton Waterside development, on the [...]
Tui share price rises as it promises 10pc profit growth May 13, 2015 The figures Fresh from its recent merger with its German owner, holiday giant Tui said this morning revenues grew 7.3 per cent to €6.9bn (£5bn) in the six months to the end of March, up from €6.4bn during the same period last year. Its loss on earnings before interest, taxation and amortisation fell 20 per cent, from a loss of [...]
Accountants’ bonus pool rises by five per cent May 11, 2015 Alright, so Tesco may have dumped PwC – but it's still a good day to be an accountant, after new research showed those working in the sector will get a share of almost £1.2bn this year, five per cent higher than the £1.1bn shared this time last year. The research, by finance recruiter Marks Sattin, [...]
General Election 2015: David Cameron’s Conservative cabinet reshuffle so far – Sajid Javid confirmed as new business secretary as Eric Pickles loses communities and local government role May 11, 2015 Following Friday's fireworks, it's time to get down to business: the Prime Minister has set about forming the first all-Conservative cabinet in 18 years, with Sajid Javid appointed as business secretary, while Iain Duncan Smith has kept the work and pensions gig. Meanwhile, Greg Clark dethroned his boss, Eric Pickles, to become secretary of state [...]
#nepalshirt: Buy a white shirt, help survivors of the Nepalese earthquake May 11, 2015 Everyone needs a white shirt – now you can buy one and help survivors of the Nepalese earthquake, after the launch of a website that only sells one thing: crisp, white shirts. For £50, you can own a white cotton shirt (either men's or women's), with 100 per cent of the profits going straight into [...]
FTSE keeps rising as Bank of England holds interest rate at 0.5 per cent May 11, 2015 The FTSE 100 was the only European market to rise today, as investors continued to show their optimism at the outcome of the election and the Bank of England's decision to hold interest rates. By lunchtime, the FTSE was trading above 7,000 points for the second day in a row, 2.47 per cent up on [...]
Uber fundraising: Here’s one chart showing how fast its valuation has grown May 11, 2015 Another day, another Uber funding round – this time the cab app is looking to raise between $1.5bn and $2bn, a report has suggested. If it does raise that much (and let's be honest – it almost certainly will), Uber will be valued at $50bn, setting it on a course to become the most valuable [...]
