Don’t turn off the UK’s gas supplies, embrace shale May 21, 2018 For far too long we have debated what our energy mix should look like, all the while crucially missing the most important point: the UK has become a nation that imports its energy, reducing its energy security, shunning UK job opportunities and missing out on tax revenue, as other countries reap those rewards. We have [...]
Russian heyday of corruption is over, says MP on release of report into Kremlin money in London May 21, 2018 The days when Russian corruption was an acceptable part of business are over, the chair of the Foreign Affairs Select Committee has said. Speaking to City A.M ahead of the publication of a new report into corrupt Kremlin-connected money in the capital, Tom Tugendhat said the issue needed to be taken “very seriously”. The report, [...]
Roman Abramovich in visa limbo as UK stalls in accepting renewal application May 20, 2018 Chelsea owner and Russian magnate Roman Abramovich has been forced to leave the UK following complications in the renewal of his visa. The process of renewing Abramovich’s visa is understood to be taking longer than usual after it expired nearly a month ago. The billionaire – who is the 13th richest person in the UK [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
UK government will speed up application process for shale gas extraction May 17, 2018 The UK government announced yesterday that it would speed up application process for shale gas extraction to support the development of the industry. One of the main reasons for the push is that since Britain’s North Sea output is declining, the UK is looking into the possibility of extracting natural shale gas through fracking. Lynn [...]
Trump withdraws from Iran deal: EU mulls retaliation as part of measures to protect European businesses from sanctions May 9, 2018 The European Union is mulling action including counter-measures against the US in a bid to protect firms doing business with Tehran from the threat of sanctions following Donald Trump’s withdrawal from the Iran nuclear deal. Last night Trump described the deal, signed by his predecessor President Obama and the other permanent members of the UN [...]
Gold miner Petropavlovsk faces shareholder revolt as splinter group aims to oust all directors and reinstate old guard May 9, 2018 London-listed gold miner Petropavlovsk, founded by mining magnate Peter Hambro, is facing a shareholder revolt as two investors have proposed resolutions to oust all the company’s directors. Cabs Platform and Slevin, which together hold 9.11 per cent of the Russia-located business, instead want to reinstate former directors Pavel Maslovskiy, Roderic Lyne and Robert Jenkins. The [...]
Walmart takes on Amazon in battle for Indian Flipkart with $15bn bid May 7, 2018 Walmart is set to take on Amazon to buy a stake in India’s biggest online retailer Flipkart, in a deal worth $15bn (£11.06bn). Reports today say that the American retailer will buy three-quarters of Flipkart’s shares at a valuation of just under $20bn. Sources close to the deal told the Financial Times that Walmart boss [...]
Russian president Vladamir Putin was inaugurated for his fourth term today amid mass protests and arrests May 7, 2018 Russian president Vladamir Putin was just sworn in at the Kremlin’s for his fourth term as the head of state. The ceremony happened in Andreevsky Hall, which acted as the throne room during Imperial Russia, and several thousand guests attended the inauguration formalities. Putin, 65, received 76.7 per cent of the votes during the March [...]
FTSE roundup: Pearson pushes the blue chip index up as sterling shows signs of weakness May 4, 2018 The FTSE 100 index ended this week up 0.86 per cent on last Friday’s close, though it lost some of the gains made at Wednesday’s peak. Recovering publisher Pearson seemed to close the chapter on its all-too-regular profit warnings, saying at had seen a “good start” to the year. It led the blue chip index, [...]