Uber halts San Francisco self-driving cars test after state regulator crackdown December 22, 2016 Ride-sharing group Uber has removed its self-driving cars from the streets of San Francisco, after California regulators revoked the registration of its vehicles. The state's department of motor vehicles said yesterday the 16 autonomous cars had not been properly permitted. Uber's programme had only been running for a week, during which time the department demanded it shut down [...]
Legal & General appoints EY senior partner Jeff Davies as new chief financial officer December 22, 2016 Insurance giant Legal & General (L&G) has appointed EY senior partner Jeff Davies as group chief financial officer. Davies will take up the role after the firm's 2016 preliminary results announcement next spring and current finance boss Mark Gregory will step down at the same time. Gregory will remain an employee of the company until [...]
British car manufacturing speeds ahead to highest level since 1999 December 22, 2016 The number of cars manufactured in Britain accelerated to its highest level this century in November, according to data from official body the Society of Motor Manufacturers and Traders (SMMT). Car production zoomed ahead by 12.8 per cent to 169,247 last month, in the highest output since 1999. In the first 11 months of this year 1.6m [...]
Aurum Mining’s share price dives as investors adjust to share listing and complete makeover into cyber security firm December 21, 2016 Aurum Mining's share price dived more than 21 per cent today after the firm announced it will completely change direction in January, shedding its mining focus to become a cyber and digital security firm. The Aim-listed miner plans to change its name to Shearwater Group and place 150m new shares on 10 January, if shareholders give the [...]
This is what analysts expect to happen to the oil price in 2017 (spoiler: things are going to get better) December 21, 2016 It's been a turbulent year for oil markets. After bottoming out at below $27 a barrel in January, global benchmark Brent crude looks set to end the year at more than double that price, averaging at the $55 a barrel mark. Analysts believe Brent crude will have an even rosier start to 2017, when prices [...]
President Barack Obama bans new drilling for oil and gas in Chukchi and Beaufort seas in Arctic Ocean and offshore in the Atlantic December 21, 2016 Outgoing US President Barack Obama has banned new oil and gas drilling in millions of acres in the Arctic and Atlantic Oceans. President Obama used a little-known law called the Outer Continental Shelf Lands Act to protect 115m acres of the Chukchi and Beaufort seas in the Arctic, off the coast of Alaska, in a bid to [...]
QinetiQ poaches Meggitt’s Target Systems business for its new international arm for £57.5m December 21, 2016 FTSE 250-listed aerospace and defence firm Meggitt has sold its Target Systems arm to fellow mid-cap group QinetiQ for £57.5m in cash. Meggitt Target Systems is comprised of Meggitt Defence Systems and Meggitt Holdings Canada, and provides unmanned aerial, naval and land-based target systems to around 40 countries. Hampshire-based QinetiQ, which sealed a £1bn deal with the [...]
Coca-Cola gulps down stake in AB InBev’s Coca-Cola Beverages Africa unit for $3.15bn December 21, 2016 Coca-Cola has snapped up a 54.5 per cent equity stake in Anheuser-Busch InBev’s Coca-Cola Beverages Africa (CCBA) bottling business for $3.15bn (£2.5bn). The Africa unit includes operations in a dozen countries, including South Africa, Ethiopia, Uganda and Kenya. It was previously owned by British firm SABMiller, which AB InBev took over for £79bn in October. [...]
Fracking: Reactions to High Court giving Third Energy the go-ahead to frack in Yorkshire December 20, 2016 Anti-fracking campaigners lost a legal bid to halt fracking in Yorkshire today, after the High Court gave a green light to developer Third Energy. The energy firm started the application process for a shale gas fracking permit in 2014, which was granted by North Yorkshire County Council in May this year. Here are some of [...]
Spot gold prices shed recent gains as investors steer clear of safe havens despite deadly attacks in Germany and Turkey December 20, 2016 Spot gold prices slid lower today, shedding gains made in the previous two sessions. The price of the yellow stuff fell 0.9 per cent to $1,127.94 an ounce in afternoon trading London time, according to data from Bloomberg, after optimistic remarks on the US labour market by Federal Reserve chair Janet Yellen strengthened the possibility of further interest rate [...]
