Crude moves: End of oil rally may be in sight with US ramping up production November 16, 2021 Soaring oil prices could be reduced by a global rebound in supplies, the International Energy Agency (IEA) said yesterday. In its November oil report, the organisation argued “the tide might be turning” in the market as supplies catch up with demand. The IEA now expects oil production to increase by 1.5m barrels per day over [...]
Revolution Bars cuts losses as young people revive bar chain after Covid-19 revenue drop November 16, 2021 Revolution Bars Group’s (Revolution) revenues are being revived by the return of its young customer base, as it looks to recover from a brutal drop in sales. Sales plummeted by nearly two-thirds this year, falling from £110.1m in the previous year to £39.4m. The premium bar chain suffered restrictions or closures every day during its [...]
Premier Foods leave sour taste with declining revenues November 16, 2021 Premier Foods has suffered a decline in revenue and operating profit in its half-year results. The owner of beloved household brands such as Mr Kipling, Ambrosia, Angel Delight, Sharwoods, and Oxo has left investors with a sour taste in their mouths as earnings per share have halved since the previous year. In its half-year report, [...]
Shell moves to UK and ditches ‘Royal Dutch’ name amid lengthy tax dispute and activist pressure November 15, 2021 Royal Dutch Shell is moving its headquarters, top executives, and crucially, its tax residence from The Hague to the UK. The move prompted the Dutch government to overhaul a controversial dividend tax which the energy giant had cited as a reason to unify its share structure and shift bases, according to the Financial Times. Shell [...]
Fuel crisis continues as diesel hits record 150p milestone at the pumps November 15, 2021 The average price of diesel is more than £1.50 a litre for the first time ever, according RAC’s Fuel Watch data. Diesel prices rose to 150.50p during the weekend, while unleaded petrol soared to 146.53p, with motorists suffering record charges at the pumps for three consecutive weeks. The cost of filling up a 55-litre petrol [...]
Government backs £217m Turkish solar power plant to meet COP26 climate goals November 15, 2021 The government is supporting the largest solar power station in Turkey to the tune of £217m, which will initially be assembled in the UK. The public money will go towards Turkish conglomerate Kalyon Group’s 1.35GW Karapinar solar project, as the UK aims to deliver on climate pledges made at COP26. Ministerial department UK Export Finance [...]
World’s second largest publicly-trading zircon producer dual-lists on London Stock Exchange November 15, 2021 PYX Resources (PYX) has become a dual listed company to boost its development plans. The world’s second largest publicly traded zircon producer has now joined the London Stock Exchange’s (LSE) main market. Its primary listing will remain the National Stock Exchange of Australia (NSX). The company will enter LSE with a market capitalisation of £349.2m, [...]
IBM and Amazon team up to help oil companies manage data as industry seeks innovations November 15, 2021 IBM and Amazon Web Services (AWS) are teaming up to provide oil companies with more tools to manage data and to share production information more efficiently. The duo has worked together to ensure oil companies can use IBM technology OpenShift to record and store oil production information. In 2018, AWS worked with Royal Dutch Shell [...]
Port authority offers thousand acres of land to bolster UK’s strained supply chains November 15, 2021 The UK’s largest port operator is offering over a thousand acres of development land to support the UK’s supply chain, manufacturing and renewable energy sectors. Associated British Ports (ABP) operates 21 ports across the UK, and is now making 14 strategic sites available for a range of business uses. During the next 18 months, ABP [...]
Ascential acquires software specialists to boost presence on Walmart.com November 15, 2021 Ascential has acquired WhyteSpyder, boosting its presence on Walmart’s website, a key trading marketplace. The newly-purchased company is an e-Commerce specialist that provides software solutions to over 80 brands trading on Walmart.com It relies on a mixture of search engine optimisation, retail insights, content management and media hosting. WhyteSpyder will now join Ascential’s digital commerce business [...]
