Australia has confirmed that it will block the sale of its largest energy grid to Chinese investors August 20, 2016 Australia has moved to formally block the sale of its biggest energy grid to Chinese investors over security concerns. The sale was put on hold last week, and now the deal has been officially nixed by Australian treasurer Scott Morrison. Two Chinese firms had been in talks to buy a 50.4 per cent stake in Ausgrid. However, [...]
China warns “protectionist” Australia after it blocks investment in energy grid August 17, 2016 Beijing warned over its future willingness to invest in Australia, after two Chinese firms were prevented from taking a controlling stake in its largest energy network. State Grid Corporation, which is a Chinese state-backed firm, and billionaire Li Ka-shing's Hong Kong-based Cheung Kong Infrastructure had submitted bids of more than A$10bn (£5.94bn) for a 50.4 per cent stake [...]
Horse racing betting: Turret out to Rock bookies at monster 40/1 in the Oaks August 17, 2016 Aidan O’Brien has won three of the last 10 runnings of the Darley Yorkshire Oaks (3.40pm) – and a strong hand of entries suggests he’s keen on landing the prize again today. The Irish trainer has four entered in the Group One race, with Found, Seventh Heaven, Pretty Perfect and Even Song making up a [...]
Sorry supermarkets, grocery spending in Europe is growing at its slowest pace ever August 17, 2016 Consumer spending at supermarkets grew at its slowest pace in eight years – a historical low – as the price wars continue to take a toll, new figures reveal. The money making its way through supermarkets' tills grew by just 0.8 per cent across Europe in the second quarter of the year compared to the same period in 2015, [...]
Horse racing betting: O’Brien can bridge Great Voltigeur gap with Idaho August 16, 2016 Since Powerscourt’s victory in 2003, Aidan O’Brien has tried to land Wednesday afternoon’s Betway Great Voltigeur (3.05pm) with 19 horses. He’s responsible for three of the six runners in the £160,000 Group Two contest today and I think his persistence will be rewarded. Bahrain Trophy winner Housesofparliament and Gordon Stakes runner-up The Major General look [...]
Morrisons has finally sold its stake in Fresh Direct August 16, 2016 Morrisons has disposed of its 10 per cent stake in wholesale business Fresh Direct, it said today – almost 18 months since it first announced plans for the selloff. The supermarket said today it had got £45m from the sale – a premium of £14m to the £31m holding value of its equity investment. Morrisons said [...]
Moody’s takes Noble’s rating two notches deeper into junk territory August 15, 2016 Moody’s took commodities trader Noble two notches deeper into junk territory with a negative outlook amid concerns over its liquidity yesterday. It comes after the firm swung to a loss in its second quarter results released last week. Noble has been hit by tumbling commodity prices over the last two years, questions over its accounting [...]
Five must visit Edinburgh gin bars August 14, 2016 If it's world-class gin that you're after, then look no further than Edinburgh. It will come as no surprise that Edinburgh has its fair share of whisky bars. Gin, however, has become increasingly popular and Scotland's capital is not only home to some of the country's best gin distilleries, but it also has a number [...]
Checking out: non-exec director waves goodbye to Morrisons after Ocado deal August 12, 2016 Irwin Lee, a non-executive director at Morrisons – and chair of the supermarket's remuneration committee – will be leaving the board at the end of August. Lee is stepping down to become the chief executive of Rustan Supercenters Inc, a supermarket chain in the Philippines, his native country. He joined Morrisons in July last year to help [...]
Australia moves to block Chinese investment in energy grid August 11, 2016 Australia's government is taking steps to stop two Chinese firms from taking a controlling stake in its largest energy network, citing national security concerns. It puts Australia in a similar position to the UK, where the politicians must balance security concerns related to China's involvement in Hinkley against the importance of a good relationship with the world's second [...]