Oil prices are headed for their largest weekly drop since January September 1, 2016 Oil prices dropped by more than three per cent today as they head for their biggest weekly fall since January, with investors worrying over US crude stockpiles. Brent crude futures ended the session at $45.45 per barrel, down $1.44 or 3.07 per cent. U.S. crude's West Texas Intermediate (WTI) futures closed down $1.54 or 3.45 per [...]
An embarrassment, a bailout and a failing franchise: Politicians blast Southern’s £20m funding deal September 1, 2016 Politicians from City Hall, the House of Commons and the House of Lords have blasted £20m of new funding for Southern Rail, announced earlier today. The Department for Transport (DfT) revealed the cash as part of a package of measures to improve performance on the lines. It will also see the appointment of a new project [...]
The UK remains hopeful of securing tariff-free trade with the EU, Brexit minister David Davis has said September 1, 2016 Britain maintains hopes of tariff-free trade with Europe according to Brexit secretary David Davis, despite the government saying any deal “must” include curbs on free movement. Theresa May has stressed she is keen to secure a “unique” relationship with the EU, and despite suggestions from Europe that free trade is incompatible with migration limits, Davis [...]
More than half of small businesses say the National Living Wage has hit profits September 1, 2016 More than half of small businesses say they have reduced profitability or simply absorbed the costs of the new national living wage. A June survey of more than 1,000 small businesses found that 59 per cent had swallowed the impact of the rise in minimum salary. A further 35 per cent said they had increased [...]
Software giant Salesforce has seen its share price slump in late trading after weak Q3 forecasts August 31, 2016 Software giant Salesforce saw its share price plummet in after hours trading late last night, after it warned of worse-than-expected results in the third quarter. Although the firm reported a 25 per cent jump in revenues to $2bn (£1.5bn) for the three months to July, it failed to meet analyst projections for the subsequent three months. Analysts [...]
Spain is facing a third election in just over 12 months after Prime Minister Mariano Rajoy lost a parliamentary confidence vote August 31, 2016 Spain is on the brink of a third election in just over 12 months after acting Prime Minister Mariano Rajoy lost a parliamentary confidence vote. Rajoy secured the backing of 170 representatives in Spain's assembly of 350, leaving him just six seats short of a majority. Unless Rajoy, or another candidate, can secure the backing of [...]
Theresa May and her ministers have agreed to seek a bespoke model for the UK’s ties with the EU, without a parliamentary vote August 31, 2016 Theresa May and her ministers have agreed to pursue a “unique” model for the UK's relationship with the EU, while further backing plans to proceed without a vote in parliament. May's office had stressed earlier this week that the Prime Minister would not seek a parliamentary, or public, vote before pressing ahead with the UK's [...]
Brazilian President Dilma Rousseff has been formally impeached by the country’s senate August 31, 2016 Brazil's first female President Dilma Rousseff has been impeached by the country's senate. The senate voted 61 to 20 in favour of impeaching Rousseff, who will be replaced by her running mate Michel Temer for the remaining two years of her term, comfortably ahead of a two-thirds majority needed to remove her from office. A [...]
Housebuilder Berkeley Group’s share price woes have seen the firm drop out of FTSE 100 in the latest quarterly shuffle August 31, 2016 Housebuilder Berkeley Group has dropped out of the FTSE 100 in the latest quarterly review after seeing its share price wracked by the Brexit vote. Berkeley was among the firms to see its value plummet in the aftermath of the UK's vote to leave the EU and the London Stock Exchange has now confirmed its demotion. Housebuilders [...]
More than 10,000 London entrepreneurs have been handed government startup loans since 2012 August 31, 2016 More than 10,000 London businesses have received startup loans from the government over the last four years. London entrepreneurs have received more than £66m through the funding programme, first launched in September 2012. Hackney has seen the largest value of start-up support from government, followed by businesses in Southwark, Lambeth, Lewisham and Barnet. Across the [...]
