Saudi oil giant Aramco has broken its own record with a $48bn (£39.bn) profit for the second quarter of 2022, a 90 per cent increase and marks the biggest earnings for the world’s largest energy exporter since its public listing three years ago. Russian invasion of Ukraine triggered skyrocketing oil and gas prices. The…
Baar, Switzerland-based commodities trader Glencore Plc and Geneva-based IXM SA have both ceased it supply of metals to Liaoning, China-based metals merchant Huludao Ruisheng after the disappearance of $500 million in copper. Glencore has transferred some of its existing stock from Qinhuangdao to alternative locations, including Qingdao. A total of 13 Chinese trading firms had…
Scottish Unionist politician and Conservative thinker wrote in 1923, that to make democracy stable, the government needed to promote a property owing democracy, to meet the rise of socialism with constructive conservatism. Margaret Thatcher’s Right to Buy policy was one of the defining policies of her long tenure in Downing Street from 1979-90, aimed at…
Daniel Lavelle’s Down and Out, reveals his own experiences as well as those of witty and complex, hopeful individuals he has encountered who have been shunned or forgotten by the state that is supposed to provide for them- in order to shine a powerful light on this dire situation. Daniel Lavelle, a freelance feature writer,…
Salt Bae’s London restaurant which started as a myth, serving embalmed steaks in gold leaf at £700 each portion, then had to take off the menu at the dining room at the foot of the Park Tower Hotel in Knightsbridge. Nusret UK’s financial statements for 2021, just after three months of opening in the…
In the past when the oil prices rose, Saudi Arabia, which sits on an estimated 80 years of oil reserves at the current rate of production, came to the rescue with a positive response, but during the 2008 spike that pushed the oil to $147 per barrel, Riyadh’s oil ministry formed a team to protect…
After the 2008 financial crisis, when the critical attention shifted from the economy to the most fundamental feature of all market economies, money, 2022, is turning out to be the year that puts the politics back into the monetary policy, with the impending fight for the next Conservative party leader between Rishi Sunak and Liz…
The Bank of England’s (BoE) Monetary Policy Committee has announced interest rates are rising from 1.25 per cent to 1.75 per cent. Interest rates have crossed the highest level since December 2008 after the biggest single rise since 1995, favoured by eight of the nine members of the BoE’s Monetary Policy Committee who voted…
BP, the energy giant has reported its biggest quarterly profit for 14 years after oil and gas prices soared, hitting £6.9 bn ($8.45bn) between April and June – more than triple the amount it made in the same period last year, amid a typical household energy bills been forecast to hit more than £3, 600…
An investigation of how the Nazis helped German tycoons make billions from the horrors of the Third Reich and World War II and how the world allowed them to get away with it. When Porsche makes its planned public debut later this year, the descendants of the sports car manufacturer’s eponymous founder an SS…