Kazakh-stunned: Copper miner Kaz takes hit as prices falter August 15, 2019 Kazakhstan-based miner Kaz Minerals sounded a cautious note this morning after being stung by copper prices in the first half of the year. Pre-tax profit at the company dropped nearly 19 per cent to $289m, hurt especially by a 11 per cent drop in the price of copper, it’s main product. Read more: Evraz hails [...]
What was behind Friday’s National Grid outage? Network theory, not conspiracy August 14, 2019 National Grid is getting a kicking in the aftermath of last Friday’s electricity blackout. Potential explanations swirl around both social and mainstream media. The system cannot cope with too much wind-generated electricity. The Russians hacked into the computers. A puzzling aspect is that the initial shock to the National Grid was a very small one. [...]
John McDonnell has put a nationalist cat among the Scottish pigeons August 9, 2019 Labour has a problem – and for once it isn’t antisemitism. This time, it’s second-in-command John McDonnell, who this week defied party policy and threw a spanner in the constitutional works by declaring that he backed allowing Scotland to vote again on independence. Speaking at an event at the Edinburgh Fringe (a festival more commonly [...]
Listed litigation funders scramble to avoid Burford contagion August 8, 2019 Listed litigation funders have distanced themselves from Burford Capital today, after a short seller attack yesterday sent Burford’s shares on a rollercoaster ride. Manolete Partners and Litigation Capital Management (LCM) today pointed out how their models differ to Burford’s after their shares fell steeply yesterday in reaction to the short-seller attack on Burford. Activist Muddy [...]
Evraz hails ‘healthy’ results despite massive drop in profit August 8, 2019 Miner Evraz released a set of “rather healthy results” today even as net profit dropped by more than two thirds in the first half of the year. Lower prices for vanadium and coking coal took a 22 per cent chunk off the company’s earnings before interest, tax appreciation and amortisation (ebitda). Read more: Sterling falls [...]
Dominic Cummings is behind Number 10’s new startup-mindset August 8, 2019 “What we want to hear is their conquer the world strategy,” said Scott Kupor, managing partner of American venture capital firm Andreessen Horowitz. Kupor was talking about wannabe entrepreneurs knocking on the company’s Sand Hill Road door in California and looking to become the next Twitter, Lyft, or Airbnb. If Boris Johnson’s right-hand man Dominic [...]
Boris Johnson faces first electoral test as polls open in Brecon and Radnorshire by-election August 1, 2019 Boris Johnson faces his first electoral test as Prime Minister today as voters head to the polls in the Brecon and Radnorshire by-election. The by-election in the Welsh seat has been called following a recall petition by residents against the incumbent Tory MP Chris Davies following his submission of a false expenses claim. Read more: [...]
Boris Johnson at odds with Leo Varadkar over Irish backstop July 30, 2019 Boris Johnson and his Irish counterpart Leo Varadkar are at odds over how to solve the Brexit impasse, with Leo Varadkar stating that the EU was united in its insistence that the withdrawal agreement could not be reopened. The Prime Minister held a phone call with Varadkar today, in which the two leaders discussed Brexit. [...]
Russia threatens retaliation against British media after RT fine July 26, 2019 Russia has warned UK media working in Russia that they will face consequences after Ofcom handed down a £200,000 fine to broadcaster RT. In a statement, Russia’s Ministry of Foreign Affairs said it viewed the penalty as “part of an anti-Russian campaign designed to restrict the activities of Russian media in Britain”. Read more: RT [...]
RT fined £200,000 for impartiality breach over Salisbury poisoning coverage July 26, 2019 Russian broadcaster RT has been fined £200,000 by Ofcom over “serious failures” to comply with impartiality rules. Read more: RT broke broadcasting rules on impartiality, says Ofcom The regulator said RT – formerly known as Russia Today – had breached requirements for broadcast news to be presented with due impartiality in seven programmes that covered [...]