Articles
Drax makes pre-tax loss of £83m as coal slumps in value
Power producer Drax saw earnings rise 73% in the first half of 2017, but made a net loss of £83m partly due to the UK’s move to stop using coal for electricity generation
Toshiba shares leap as court rules on memory business sale
Shares in troubled Japanese conglomerate Toshiba leapt by nearly a quarter on Tuesday after a Californian court ruling on the sale of its valuable memory chip business.
Dame Carolyn McCall takes over as chief executive at troubled ITV
High-flying easyJet CEO Dame Carolyn McCall is to take over as chief executive at troubled broadcaster ITV.
Emerging markets investor Ashmore posts inflows of $1.2bn
Specialist emerging markets investor Ashmore is back on track after posting its second quarter of net inflows, at $1.2bn. The group’s assets under management for the period ending 30 June 2017 increased by $2.8bn to $58.7bn
Irish business leaders warn of ‘economically calamitous Brexit’
Irish business leaders have warned the UK is heading towards a an “economically calamitous Brexit” that would “massively disrupt” UK-EU trade – and hit Irish companies hard.
Energy firms warned to expect tougher price controls
Firms running the UK’s energy network infrastructure have been warned to expect tougher price controls from 2021. UK energy regulator Ofgem says there is evidence investment costs have been lower than expected
Snap shares drop below IPO price for first time since going public
Shares in US tech hotshot Snap dropped below their IPO price for the first time as fears grew the company was overpriced now rival app Instagram has muscled in on its act. Snap went public on March 2 at $17 per share, and by the following day had hit $29.4.
Olympic investing: gold and silver for uncertain times
There’s a reason they give gold and silver Olympic medals. The precious metals have been highly prized since the dawn of civilisation – and today, they are still seen as a safe haven for investors.
UK energy firms face more price caps for poorer families
A price cap on energy bills for more low-income families has been announced by UK energy regulator Ofgem. A cap for four million consumers on pre-payment meters announced earlier this year
Anyone for a G&T? It’s boom time for gin and craft ales
If you’ve been tempted to try one of the new craft ales or artisan gins in the nation’s bars and pubs, you’re not alone – the beer and spirits trade is on a roll. Gin broke the £1bn sales mark for the first time ever in the UK in 2016
UK still top destination for investment in financial services
The UK remained the top destination for foreign investment in financial services last year despite the Brexit vote, although France and Germany are seen as increasingly attractive.
Renewables surge ahead as fossil-fuel firms adapt or die
Twenty years ago, renewable energy was a fledgling venture, regarded as fringe and experimental by many. Now it is a trillion-dollar industry. Many fossil-fuel firms are mired in debt
Dollar falls, pound and euro rise as bankers warn of rate rises
Markets have reacted dramatically as central bankers meeting in Portugal warned policy tightening could be just around the corner for the world’s major economies.
FCA shake-up of investment industry targets overpricing
The Financial Conduct Authority (FCA) has announced a major shake-up of the investment management industry to ensure investors get better value for money.
Gold ‘fat-finger’ trade causes dramatic price slump
An accidental ‘fat-finger’ trade may have triggered a dramatic 1.3% fall in the gold price in early UK trading on Monday (June 26), which saw it plummet from $1,253 to $1,243 in just five minutes.
Airbag maker Takata files for bankruptcy
Japanese car component firm Takata has filed for bankruptcy after facing huge compensation claims over exploding airbags that have been linked to 17 deaths around the world.
US to replace scandal-hit Libor with new benchmark rate
The US government is to replace the scandal-hit Libor inter-bank interest rate with a new benchmark based on the cost of borrowing against US government debt.
US investment firm fined $1.5m for trying to influence cattle futures
A US investment firm has been fined $1.5m and its senior staff $3.5m by the US regulator for illegally trying to influence the cattle futures market. McVean Trading & Investments of Memphis, Tennesse
Uber co-founder Kalanick resigns as CEO over ‘macho culture’ claims
Uber co-founder Travis Kalanick has resigned as CEO of the cab-hailing company after allegations of a macho management culture that turned a blind eye to claims of sexual harassment.
Interest rates to stay low as Chancellor pledges to keep reins on spending
Bank of England governor Mark Carney has signalled that UK interest rates are set to remain low to keep growth on track as the country negotiates Brexit.