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UK industrial output suffers biggest fall in four years after oilfield shutdown

UK industrial output suffers biggest fall in four years after oilfield shutdown

Dec 7 British industrial output suffered its biggest monthly drop in more than four years in October after the temporary shutdown of a major oilfield, while factory output also sagged, official figures showed on Wednesday. While oil production is likely

Reuters, 7 min. ago
 

EU fines Credit Agricole, HSBC, JPMorgan for Euribor fixing

The European Commission fined banks Credit Agricole (CAGR.PA), HSBC (HSBA.L) and JPMorgan Chase (JPM.N) a total of 485 million euros ($520 million) for their part in a cartel to fix the price of financial benchmarks linked to the euro. They were part of

Reuters, 7 min. ago
 
UK manufacturing falls in October, ONS figures show

UK manufacturing falls in October, ONS figures show

Manufacturing growth fell sharply in October, surprising economists, who had predicted a rise. Output from manufacturers dropped by 0.9%, after a 0.6% rise in September, according to the Office for National Statistics (ONS). Total industrial production d

BBC, 20 min. ago
 

John Menzies names new boss for distribution arm

Logistics group John Menzies today named Greg Michael as the new managing director for its distribution business. The Edinburgh-based firm said the former senior figure at delivery specialists DHL and Deutsche Post brings with him “relevant third-party l

Scotsman, 20 min. ago
 

Workers fired on the spot could lose a fifth of their redundancy payout to the taxman under new rules...

Workers who are fired on the spot could lose nearly a fifth of their redundancy payout to the taxman under new rules buried in last month’s Autumn statement. Currently, employees do not have to pay income tax or national insurance if their redundancy pay

Daily Mail, 24 min. ago
 

Lenders refuse to reduce mortgage rates months after the Bank of England cut interest rates

A fifth of banks and building societies are refusing to reduce mortgage rates four months after the Bank of England interest rate cut. In August the Bank slashed rates — for the first time in seven years — to a record low of 0.25 per cent following the E

Daily Mail, 24 min. ago
 
Citi says behaved appropriately in sterling 'flash crash'

Citi says behaved appropriately in sterling 'flash crash'

Citi (C.N) said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October's "flash crash" in sterling, responding to a Financial Times report saying a trader at the U.S. bank exacerbated...

Reuters, 26 min. ago
 
Shell to develop major oil field in Iran - WSJ

Shell to develop major oil field in Iran - WSJ

Royal Dutch Shell Plc (RDSa.L) will agree on Wednesday to develop a major Iranian oil field, the Wall Street Journal reported, citing an Iranian oil ministry spokeswoman. Total SA (TOTF.PA) of France is also planning another investment in the energy sect

Reuters, 26 min. ago
 

Drug giant Pfizer is fined £84MILLION for ripping off NHS by hiking price of anti-epilepsy drug by 2,600% 

Drug giant Pfizer has been fined £84million for ripping off the NHS by hiking the cost of an anti-epilepsy drug by 2,600 per cent. The Competition and Markets Authority (CMA) said drug maker Pfizer and distributor Flynn Pharma broke competition law when

Daily Mail, 27 min. ago
 
Faster house price growth in November, says the Halifax

Faster house price growth in November, says the Halifax

Annual growth in UK house prices accelerated for the first time in eight months in November, a lender's figures show. The Halifax, part of Lloyds Banking Group, said property prices had risen by 6% compared with a year ago. That meant the cost of a typic

BBC, 28 min. ago
 

Renault-Nissan names Philippe Brunet as new powertrain chief

The Renault-Nissan (RENA.PA) (7201.T) alliance on Wednesday named Renault veteran Philippe Brunet to replace the top executive in charge of engines and transmissions. Brunet will take over as global head of powertrain and electric vehicle engineering fro

Reuters, 38 min. ago
 

CITY DIARY: Sir Philip Green needs new right-hand-man to take flak while he wrangles over BHS pension scheme

Sir Philip Green, 64, needs a new right-hand-man to take the flak while he wrangles over the BHS pension scheme. The tetchy tycoon’s Arcadia Group, which runs shops Evans, Burton and Wallis, is searching for a head of press. According to the job specific

Daily Mail, 46 min. ago
 
Italy bank shares rise on bailout hopes

Italy bank shares rise on bailout hopes

Shares in Italian banks have continued their recovery after falling sharply on Monday in response to Prime Minister Matteo Renzi's referendum defeat. Shares in Monte dei Paschi, one of Italy's most troubled banks, rose nearly 9% on new hopes of a rescue.

BBC, 50 min. ago
 
Apple says iPhones safe despite China fires

Apple says iPhones safe despite China fires

Apple has blamed "external factors" for a handful of iPhone battery fires in China. Eight users have complained to Shanghai's consumer watchdog that their iPhone 6 handsets spontaneously combusted or exploded. The US tech giant said it had...

BBC, 50 min. ago
 
LeEco's sports unit cuts 10 percent of staff amid funding crunch

LeEco's sports unit cuts 10 percent of staff amid funding crunch

The sports unit of Chinese technology giant LeEco will cut 10 percent of its staff and restructure its business after the parent firm's billionaire chief executive flagged concerns over spiralling debt and corporate overextension last month. A company sp

Reuters, 53 min. ago
 


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