Coronavirus: Oil price rises as virus spread slows February 19, 2020 Oil prices rose today amid hopes the coronavirus may have reached its peak. The 2.5 per cent rise was also put down to the US taking action against a Rosneft subsidiary supplying the Venezuela, helping limit supply further. Brent crude was up $1.47, or 2.6 per cent at $59.22 a barrel this evening. “There’s more [...]
London Black Cab maker targets export market as it moves beyond e-taxi sales February 19, 2020 The company behind the new generation of black cabs is planning to move beyond its core product. London Electric Vehicle Company (LEVC) will launch a new electric van later this year to diversity its product base. The company, owned by China’s Geely group, is best known for producing London’s electric black cabs. LEVC boss Joerg [...]
Struggling mining firm Sirius urged to accept takeover February 18, 2020 The boss of embattled miner Sirius minerals has told shareholders the offer from Anglo American is its only viable way forward. Chief executive Chris Fraser expressed support for the rescue despite Anglo American bidding 5.5p per share for Sirius. Each one being valued valued at 22.4p a year ago. “If the takeover does not go [...]
Higher iron ore prices boost BHP, but profit still misses expectations February 18, 2020 BHP has reported stronger half-year profit on the back of robust iron ore prices but warned of the threat of the coronavirus outbreak for 2020. The mining giant’s underlying profit jumped 39 per cent to $5.2bn (£3.9bn) for the six months to the end of December, its best profit figure in five years. However, profit [...]
Alstom confirms Bombardier merger talks February 17, 2020 French train manufacturer Alstom has confirmed talks to purchase the rail division of Canadian firm Bombardier are ongoing. The proposed deal could be worth $7bn on an enterprise value basis, Reuters has reported. Reports of the merger came last week, quoting a French TV station, that Alstom’s board was set to make an offer. “Alstom [...]
Government pledges £1.2bn climate supercomputer February 17, 2020 The government will spend £1.2bn on a new supercomputer to forecast adverse weather faster and more accurately. The investment announced today by the Department for Business, Energy and Industrial comes the day after the UK was rocked by Storm Dennis. It is hoped that the new computer will enable authorities to plan to prevent disruption [...]
Grant Shapps denies DfT talks with China over HS2 contract February 16, 2020 The transport secretary Grant Shapps has today denied reports his department has held talks with China over building the HS2 rail link. The Financial Times reported China’s state-run railway company had offered to build the line in five years at significantly reduced cost. Prime Minister Boris Johnson announced in parliament that the scheme would go [...]
Storm Dennis causes travel disruption around the UK February 16, 2020 A record number of weather warnings have been issued in England as Storm Dennis continues to batter the UK. The Met Office has a yellow warning for much of the UK which extends to amber in parts of Southern England. Most train companies have reported disruption to their services and several incidents have occurred on [...]
Dieselgate: VW offers to pay €830m, but talks break down February 14, 2020 Volkswagen said talks to settle a huge collective lawsuit in Germany over the manufacturer’s dieselgate scandal collapsed today. VW had offered a settlement of €830m (£694.7m) with German drivers who purchased their emissions test-cheating diesel cars. But talks with the German consumer association VZBV to provide compensation broke down, with each party blaming the other. [...]
Trump’s tweets ‘make it impossible for me to do my job’, says William Barr February 14, 2020 US attorney general William Barr has said President Donald Trump’s use of Twitter “make it impossible for me to do my job” amid a high profile court case. His comments came in response to claims Trump pressured the Department of Justice (DoJ) into recommending a reduced jail sentence for the President’s former adviser, Roger Stone. [...]
