Liberty House to open another steelworks in June May 16, 2016 Commodities investor Liberty House is planning to re-open its seventh steelworks in as many months in June, the company announced today. The company is set to restart steel pipe and tube manufacturing at Tredegar in the South Wales Valleys, which was closed last year, and the re-opened plant will form the latest link in a [...]
Ladbrokes and Gala Coral set for merger decision from watchdog May 16, 2016 A provisional decision is expected to be announced this week on the proposed merger between UK bookmakers Ladbrokes and Gala Coral. The merger, which was confirmed in a £2.3bn deal last July, would create the UK's largest bookie. The final decision on the merger, which will form new company Ladbrokes Coral, is still expected to be [...]
Oil prices soar to six-month highs in wake of global supply disruptions May 16, 2016 Oil prices rebounded to a six-month high this morning, lifted by disruptions to oil output in Nigeria and the usually bearish Goldman Sachs taking a bullish turn on the market. The price of Brent crude jumped 2.2 per cent during morning trading to a high of $48.90, the highest level since October 2015. Meanwhile, the price [...]
Barclays loses its metal as it sells London gold, silver, platinum and palladium vault to ICBC Standard Bank May 16, 2016 Barclays has signed an agreement to sell its precious metals storage business in the UK to ICBC Standard Bank. ICBC Standard Bank, which is a union of Chinese ICBC and the Standard Bank Group, will acquire the precious metals vaulting business for an undisclosed sum to expand its commodities capabilities in metals clearing and storage services. [...]
Aerobics in the aisles: How supermarkets could solve the obesity crisis, according to Oliver Wyman May 16, 2016 Are the UK's Big Four supermarkets responsible for the obesity crisis? Global management consultancy Oliver Wyman seems to think so. In a report released today, Oliver Wyman has said the Big Four "hold the answer" to the crisis should be using their "considerable influence" to save one million people from being obese and 1.5mn from being [...]
Surprise: Asking prices have jumped to new record highs of £308,151 across England and Wales May 16, 2016 In what seems now to be an ongoing trend, asking prices in England and Wales jumped to a new record high of £308,151 on average in May. The "eye-watering" increase is a rise of £1,118 on the previous month, property website Rightmove said in figures released today. The price uplift has come despite a flurry to [...]
Platinum producer Lonmin shines as cost-cutting strategy shrinks losses May 16, 2016 The share price of platinum producer Lonmin jumped more than 15 per cent in morning trading after the company announced its losses had shrunk due to its cost-cutting measures, despite the global slump in metals prices. The figures Lonmin announced a total of 2.5m tonnes were mined in the quarter to 31 March, while its core, long-life Generation 2 shafts [...]
Why design is finally having its day and being recognised as distinctly different from advertising May 13, 2016 This year so far has been a big moment for brand stories. A number of high profile rebrands have been hugely successful, while others have faced public scorn and confusion. On the positive side, Airbnb’s transformation from its name to a symbol was radical, but clearly reflected the meaning behind the brand and was easily [...]
Public consultation launched by Committee of Advertising Practice could introduce sugar advertising crackdown following tax in March Budget May 13, 2016 A public consultation has been launched today on introducing new non-broadcast rules on how food and soft drink products are advertised to children. The body responsible for writing the UK Advertising Code, the Committee of Advertising Practice (CAP), has launched the consultation in response to "wider societal concerns around childhood obesity". Introducing non-broadcast rules would not [...]
Remaining in the EU is just the tonic for the UK’s gin industry, says MP Damian Hinds May 12, 2016 Gin exports would be hit hard if the UK voted to leave the European Union next month, a Treasury politician warned today. "The UK’s gin industry is undergoing a remarkable renaissance with the rest of the world developing a taste for our world-leading gin," exchequer secretary to the Treasury Damian Hinds said as he met with industry and Beefeater [...]
