Foreign secretary Boris Johnson is the bookies’ favourite to leave the cabinet first July 15, 2016 Betting markets suggest Boris Johnson, Theresa May's controversial choice for foreign secretary, will be first to leave the cabinet. Ladbrokes put the odds of the blonde bombshell leaving first at 4/1, while former leadership candidate Andrea Leadsom is second at 6/1, followed by eurosceptic Brexit secretary, David Davis, at 7/1. Read more: Theresa May heads to Scotland for Brexit talks [...]
Flood of stimulus underpins Chinese growth in second quarter July 15, 2016 Easy monetary policy helped the Chinese economy expand slightly faster than expected in the second quarter, data published today showed. Official data suggested gross domestic product grew 6.7 per cent between April and June from a year-ago, unchanged from the first quarter, and slightly ahead of market expectations of a dip to 6.6 per cent. Read more: The South [...]
Theresa May heads to Scotland for Brexit talks with Nicola Sturgeon July 15, 2016 Prime Minister Theresa May will meet first minister Nicola Sturgeon in Edinburgh today, to discuss the future of the United Kingdom and Scotland's relationship with the European Union. May will stress the importance of preserving the union, after the Brexit vote revived calls for an independent Scotland. She'll also promise to involve Scotland in "every decision" her new government takes. [...]
National Grid to take bids for one of world’s biggest energy storage schemes July 14, 2016 The National Grid will take preliminary bids for one of the world's biggest energy storage schemes tomorrow. Japanese, British and European companies are expected to compete for the 200 megawatts project, which will be used to plug the gap when Britain's doesn't have enough power. Read more: Big six energy giants set to avoid break up [...]
Gulf Keystone shares plummet as shareholders effectively wiped out July 14, 2016 Kurdish oil producer Gulf Keystone tumbled today after a desperately-needed funding agreement left shareholders with next to nothing. They will hold on to just five per cent of the company, with bondholders owning a majority stake. Read more: North Sea oil workers back strike action as tensions mount Its shares tanked as much as 44.04 per cent to [...]
Circle Oil secures breathing space as debt repayments loom July 14, 2016 Circle Oil was thrown a lifeline today, as it struggles with an increasingly uncertain financial situation. The oil explorer, which recently halted trading of its shares, said that the World Bank's International Finance Corporation (IFC) kicked back a revaluation of its current borrowing agreement. It also delayed any repayments due under that arrangement to 5 August. Read more: Circle Oil shares tumbles as it announces [...]
Singapore Exchange to remain shut today after technical glitch July 14, 2016 The Singapore Exchange failed to open today after a technical glitch halted trading. "The securities market will not resume trading at 16.00 hours and will not re-open today," it said in a fifth update. South East Asia's largest stock market had already missed a self-imposed deadline of 14.00pm earlier. Read more: Baltic Exchange in exclusive discussions with [...]
US shale lowest-cost option for future oil production July 14, 2016 The large underground deposits of shale gas in the US are the lowest-cost option for future oil output. About 60 per cent of production that's cost-effective with crude at $60 per barrel is in US shale, compared to about 20 per cent accessible by deep well drilling, according to energy consultancy Wood Mackenzie. Read more: North Sea oil [...]
Time will standstill on New Year’s Eve – but only for one second July 14, 2016 Time will quite literally be brought to a standstill on New Year's Eve. On 31 December a "leap second" is going to be slapped onto the end of 2016 — which has already had an extra day added to it anyway. Read more: Seven interesting facts you should know about the clock change That's according to timekeepers [...]
New chancellor Philip Hammond says no need for emergency budget July 14, 2016 The recently appointed chancellor, Philip Hammond, has assured that there was no need for an emergency Budget. His predecessor, George Osborne, had warned he would be forced to slash public spending and increase taxes to fill a £30bn "black hole" following a Brexit vote. Read more: What to expect from chancellor Philip Hammond Speaking to Sky News [...]
