Stanlow refinery faces uncertain future despite Essar’s denial over closure March 10, 2014 Essar Energy yesterday denied plans to close the Stanlow refinery in north west England, after City A.M. reported the plant’s long-term future was under threat due to weak margins. “Essar Energy and the entire transport fuel supply industry are working together with the UK government to improve the resilience of UK refineries and importers,” said [...]
US judge allows aluminium cases March 10, 2014 A US judge overseeing litigation accusing Goldman Sachs, JPMorgan Chase, their warehousing businesses and the London Metal Exchange of conspiring to reduce the supply and increase the price of aluminium will allow for now three groups of plaintiffs to pursue separate lawsuits. US District Judge Katherine Forrest made the order for direct purchaser plaintiffs and [...]
Google focuses on wearable tech March 10, 2014 Google is set to release an Android-based software development kit for wearable devices, its Android chief Sundar Pichai said yesterday while speaking at the South by Southwest Interactive conference in Texas. “In two weeks we are launching the first developer SDK for Android,” Pichai said. “That will lay out the vision for developers in how [...]
Japan economy growing slowly March 10, 2014 Japan’s economy grew 0.2 per cent in October-December from the previous quarter, government data showed today, revised down from a preliminary 0.3 per cent expansion due to slower growth in capital spending and private consumption. The result compared with the median forecast from economists for a 0.3 per cent expansion. The revised GDP figure means [...]
What the other papers say this morning – 10 March 2014 March 10, 2014 FINANCIAL TIMES Spotify’s credit line hints at IPO Spotify has secured a $200m credit facility from lenders including Morgan Stanley, bringing the Swedish music company a step closer to a potential initial public offering in the US, according to people close to the deal. The Stockholm start-up, which last year sold equity that implied a [...]
Investors in last minute dash to grab Poundland March 10, 2014 BUDGET chain Poundland will close the books on its forthcoming London float tomorrow night, with a late surge in demand meaning the offer could end up 10 times oversubscribed. The high street store has so far seen solid demand from institutional investors keen to buy shares, helping back an early decision by the firm not [...]
Bank of England warned about the risks of forward guidance March 10, 2014 THE BANK of England’s forward guidance policy could encourage investors to take too much risk, Bank for International Settlements (BIS) economists have warned. A report by Andrew Filardo and Boris Hoffman from the Swiss-based bank said the monetary policy, practised in the UK, Europe, US and Japan, leads investors to believe they will know about [...]
BBC calls for an inflation link to its licence fee March 10, 2014 THE BBC is calling for its licence fee to be linked to inflation as the corporation considers the template for its future funding. A review led by John Tate, the BBC’s former head of strategy, looked at how it could be funded in 2020 – three years after the next round of funding talks with [...]
Interpol looks for answers on missing plane March 10, 2014 INTERPOL was yesterday trying to establish the identities of at least two passengers on the missing Malaysia Airlines flight who were travelling on stolen passports. While the police agency said it was too soon to draw conclusions, it said the use of stolen passports was “clearly of great concern”. The passports, belonging to an Italian [...]
Clegg: I will lead Lib Dems no matter what happens in 2015 March 10, 2014 LIBERAL Democrat leader Nick Clegg will stay on as head of the party no matter what happens in the 2015 general election, his spokesperson has confirmed. A suggestion that the Deputy Prime Minister would step down if he failed to keep the Lib Dems in government was quashed yesterday, after Clegg gave a speech to [...]
