MH17 plane crash and US sanctions against Russia fuel oil price jump July 18, 2014 Global oil prices have risen steeply as fears of a prolonged period of heightened geopolitical tension, and its possible impact on oil supplies, grew following the downing of the Malaysia Airlines jet in eastern Ukraine. The crash of flight MH17 on route from Amsterdam to Kuala Lumpur on Thursday, which led to the loss of 298 [...]
Manchester United drop to third in Forbes’ world’s most valuable sports teams list July 18, 2014 They may be signing up sponsors like they're going out of fashion this week, but Manchester United have dropped one place to third in the annual Forbes list of the world's most valuable sports teams. The Premier League club have endured their worst season for over two decades, finishing seventh and missing out on a [...]
MH17 plane crash: Markets slump as Malaysian Airlines share price falls July 18, 2014 European shares edged lower today, weighed down by geopolitical risks in the aftermath of the MH17 Malaysian Airlines crash over eastern Ukraine and the Israeli ground offensive in the Gaza strip. Investors reacted with caution to the uncertainty over how the downing of the jetliner would impact the ongoing conflict between Ukraine and separatists, as [...]
Peer lending and crowdfunding an “increasing source of finance” for UK firms July 18, 2014 Peer lending and crowdfunding are becoming an "increasing source of finance" for firms, as non-bank alternatives are giving a growing number of UK firms a helping hand, according to the Bank of England. In its quarterly report on trends in lending, the central bank reports that credit conditions for businesses are improving, with net lending [...]
Co-op Group offloads pharmacy business to Bestway for £620m July 18, 2014 The Co-operative Group has agreed to sell its pharmacy business to privately owned Bestway for £620m, using the funds to slash its huge debt and invest in its core business across its consumer and retail divisions. The UK's biggest mutually owned company has reacted to its biggest-ever loss, amounting to £2.5bn for 2013, by making [...]
UK banks to face “in-depth” competition inquiry that could see major lenders broken up July 18, 2014 The UK's banking sector is set to face a fresh competition inquiry that could lead to sweeping changes across the industry with British lenders at risk of being broken up. As expected, in an initial into the industry published this morning, the Competition and Markets Authority (CMA) decided that there should be an "in-depth" [...]
Uber’s latest promotional stunt? Delivering ice cream on London’s hottest day of the year July 18, 2014 In its latest publicity-driven stunt, innovative taxi app Uber will be delivering ice cream to scorched Londoners today, on what promises to be the capital's hottest day of the year. In an email to customers with the inside scoop, Uber says that ice cream vans will be available in central London between 11am and 7pm, [...]
Have Cameron and Juncker buried the hatchet? Not if this high five fail is anything to go by July 17, 2014 They tried to put their differences behind them – David Cameron insisted they could work together after saying rather uncomplementary things about him. But the photo doing the rounds of new European Commission President Jean-Claude Juncker and the Prime Minister failing spectacularly at a high five this morning seems to suggest otherwise. The awkward encounter [...]
William Hill prepares rosy reception for new Manchester United manager Louis van Gaal July 17, 2014 Bookmakers William Hill took a novel approaching to welcome Dutch legend Louis van Gaal to the Premier League. The FTSE 100 listed firm hired a team of expert florists who started work at 6am on Wednesday to produce a mural portrait of the Dutchman made out of 25,000 red and white tulips in time for [...]
ECB will give Eurozone banks just two weeks to devise plan to get their houses in order July 17, 2014 The European Central Bank (ECB) will give Eurozone lenders just two weeks to come up with plans to deal with any capital shortfalls after it completes a review of the currency union's most important banks this autumn. In an update of its plans as it prepares to conduct stress tests of the Eurozone's 128 largest [...]