Centrica completed its exit from wind power as it sold its stake in the Lincs offshore wind farm January 13, 2017 Centrica has completed its exit from the wind power generation business with the sale of a 50 per cent stake in its Lincs offshore wind farm to the Green Investment Bank. The UK energy company's joint venture partner Siemens Project Ventures has also agreed to sell its 25 per cent share to the bank, while Dong Energy, [...]
Millennials earn less than their parents did at the same age (despite being better educated) January 13, 2017 Millennials earn 20 per cent less than their parents did at the same age despite being better educated as wages have shown a downward trend, new research suggests. The report that was released today assessed the financial state of today's young adults by measuring income, retirement savings, home ownership, assets and net wealth. The baby boomer generation (young [...]
Wells Fargo’s profits slumped as fourth quarter earnings missed expectations January 13, 2017 Wells Fargo today reported profits were down for the second year as its fourth quarter earnings missed expectations. The figures The US' third-largest bank said quarterly net income was down to $5.3bn (£4.3bn) from $5.6bn the previous year, while diluted earnings per share were down to $0.96 compared with $1.00 last year. Revenue stayed consistent with the fourth [...]
Wine experts at Marks & Spencer have predicted what you’ll be drinking in 2017 January 13, 2017 In 2016, we had the rise of English bubbly, craft beer and gin. Now, wine experts at Marks & Spencer have uncorked their top predictions for the year ahead. 1. First of all, we'll be drinking less Dry January got us all talking about the growing number of high-quality low or zero alcohol drinks, and [...]
Indian airline SpiceJet has made a deal to buy up to $22bn worth of planes from Boeing January 13, 2017 SpiceJet today announced it would buy 100 new 737 Max aircraft from Boeing with an option for 50 more in a deal worth up to $22bn (£18bn) in total. The deal for a total of up to 205 planes also includes an agreement for 55 jets that was previously announced in 2014. SpiceJet is an all-Boeing operator, and this [...]
Oil prices fell today after Opec said it won’t hit target crude output cuts January 13, 2017 Oil prices fell today as doubts emerged that crude production cuts would curb a global surplus of fuel supply. The Organisation of the Petroleum Exporting Countries (Opec) revealed in November it would aim to cut production by 1.2m barrels a day from the first of the year, but today delegates told Reuters it is unlikely to deliver its [...]
A wine delivery service uses letterbox-shaped bottles so you don’t miss a delivery January 13, 2017 A London entrepreneur has solved the problem of missed wine bottle deliveries. After winning £20,000 in prize money on CNBC's Pop Up Start Up TV show, Joe Revell said he is launching his subscription-based Garcon Wines in the UK. The Graze-like business model is enhanced by a "revolutionary" bottle design which the company says will allow easier deliveries. Read [...]
“Brexit tourists” from Hong Kong, China and UAE spent millions on British high streets this Christmas January 13, 2017 Tourist spending is expected to hit a record high this year, but figures to be published today show the weak pound has already given the UK economy a significant boost. So-called "Brexit tourists" took advantage of the pound's slump by spending more than £725m on British high streets in December, the data shows. Payment processor Worldpay analysed transaction data [...]
Shares in Hilton Food Group increased nearly 6 per cent after trading performed ahead of expectations January 12, 2017 Hilton Food Group's shares jumped up today after the international meat packer said its results would surpass expectations. Shares in the UK's leading meat packing business increased 5.93 per cent to 670p in afternoon trading after it released an update ahead of its full-year results, which will be released 30 March. The group outperformed expectations as it grew in [...]
