Lower pound and higher oil prices could push average petrol price above 115p as soon as tomorrow October 17, 2016 The fall in the value of sterling and a rise in oil prices could push the average price of petrol above 115p by tomorrow morning. The average price of petrol across UK retailers, including supermarkets and independent sellers, reached 114.99p a litre on Sunday, according to data from Experian Catalist. Prices tumbled below 115p last August, [...]
Rising US rig count and strong dollar weigh on West Texas Intermediate and Brent crude oil prices October 17, 2016 Renewed oversupply concerns pushed the prices of West Texas Intermediate (WTI) and Brent crude down more than one per cent today. WTI futures were trading down 1.33 per cent to $49.68, while Brent futures slid 1.15 per cent to $51.35 per barrel in evening trading. A rising US rig count was among the factors putting pressure [...]
Caterpillar chief executive Doug Oberhelman resigns after 41 years at construction giant October 17, 2016 The chief executive and chairman of US construction giant Caterpillar, Doug Oberhelman, will retire in January, the company announced today. Oberhelman, who has worked at the heavy machinery group for 41 years and became chief exec in 2010, will be succeeded by Jim Umpleby, who has worked at the Illinois-based firm for 35 years. Umpleby will [...]
European steel bosses from ArcelorMittal, Tata Steel Europe and ThyssenKrupp call for the EU to do more to protect ailing industry October 17, 2016 More than 50 European steel company bosses have written to the EU calling on the organisation to do more to protect the flailing industry and protect it from the ongoing glut of cheap Chinese imports. The chief executives of ArcelorMittal, Tata Steel Europe and German steel giant ThyssenKrupp were among 58 company heads that have urged the EU [...]
Alcohol contributes up to four times more to global calorie consumption than soft drinks October 17, 2016 Alcoholic drinks contributed up to four times more than soft drinks to global calorie consumption last year, according to research released today by Euromonitor International. Energy obtained from alcohol in 24 countries including as the UK, Japan and Germany exceeded that consumed via soft drinks, in a trend driven by consumers increasingly shunning sugar and watching [...]
Craft and artisan beer craze lifts the number of new beer trademarks registered to record high October 17, 2016 The soaring popularity of artisan drinks pushed the number of new registered beer trademarks to hit a record high last year, according to City law firm RPC. The number of new beer brands registered in the UK jumped 12 per cent from 1,485 to 1,666 in 2015, an RPC analysis of figures from the government’s Intellectual [...]
Boss of oil major BP set for salary boost from post-referendum fall in sterling October 16, 2016 The boss of British oil major BP could be set to reap an uplift in his salary of almost £3m if he is paid a similar amount to his 2015 annual paycheck. Last year, American-born chief executive Bob Dudley, who is paid in dollars, raked in $19.6m. At the year-end exchange rate of $1.48 to £1, [...]
William Hill will keep its bets on merger talks with Amaya despite opposition from activist shareholder Parvus October 16, 2016 William Hill will plough ahead with talks to merge with Canadian online betting group Amaya, despite facing opposition from its largest shareholder. Last week Parvus Asset Management, which owns a 14.3 per cent stake in the FTSE 250-listed bookie, slammed plans for a £5.5bn to £6bn reverse takeover that it said "makes little strategic sense". Parvus said [...]
Fall in sterling is hole in one for UK’s golf tourism industry October 16, 2016 The drop in sterling has lured American golf tourists to some of the UK and Ireland's top resorts in their droves, according to holiday website Golfbreaks.com. Sales to US-based customers between July and September increased 238 per cent on the previous three months, as the dollar exchange rate grew more favourable in the wake of [...]
Betfred and Stan James put their money on more than 300 shops from Ladbrokes-Gala Coral merger October 16, 2016 Betfred will scoop up 322 shops being sold as part of the Ladbrokes-Gala Coral merger for £55m, Gala Coral announced today. The gambling giants will sell off 359 high street branches in total if the bookies successfully merge, of which the remaining 37 will go to sports betting group Stan James for £500,000. In July, the [...]
