Markets
Oil prices plunge amid Trump's tariff threat on Mexico
During the week, WTI and Brent moved in the same direction. Oil slumped over three per cent on Friday, on track for its biggest monthly drop in six months, after US President Donald Trump stoked global trade tensions by threatening tariffs on Mexico, one of the largest US trade partners and major supplier of crude oil. [Full Article...]
Type 130 launch scheduled for 16th July in Central London
It starts off with a plaque mounted on a carbon fiber surface. Deliveries of the first units are expected to be made in 2020, after the cars are hand built at the company's facility in Hethel, Norfolk. Rumors say it is rated close to 1,000 horsepower (745 kilowatts), and the driving range is greater than 400 kilometers (250 miles). Lotus announced the surprise model in April at the Shanghai Moto... [Full Article...]
Mark Zuckerberg's personal security chief accused of sexual harassment
Two employees who previously worked as personal staff for Mark Zuckerberg have levelled alarming allegations of misconduct against the head of Zuckerberg's security detail, including sexual harassment and racist, transphobic, and homophobic comments. [Full Article...]
Economy posts another weak quarter of growth, but shows signs of rebound
The final reading for the first quarter was in line with the central bank's forecasts, though it came in below economist expectations for annualized growth of 0.7 per cent. Looking ahead, the report's month-to-month reading for March - the final month of the first quarter - suggested the second quarter could be off to a stronger start. [Full Article...]
Allianz takes £820m slice of United Kingdom insurance market
The head of Allianz's United Kingdom business, Jon Dye, declined to say on a call with journalists on Friday how much money the company expects to save by combining L&G's general-insurance division with its soon-to-be wholly owned LV division. [Full Article...]
House prices slow but activity remains stable
Its chief economist Robert Gardner said the figures suggest consumer confidence "remains subdued". That left the average United Kingdom house price in May at £214,946. But he also expects a "modest" improvement later in the year, as consumer confidence has been recovering and mortgage deals have been getting better for buyers with smaller deposits. [Full Article...]
Facebook's Mark Zuckerberg to face leadership vote
As Bloomberg pointed out earlier this week, such proposals are all essentially dead on arrival, since Zuckerberg controls the vast majority of the company's most powerful shares. The comments raise the specter of harsher action in Congress against Facebook. Pelosi has previously warned that Section 230 of the Communications Decency Act, which shields tech companies from legal liability for conte... [Full Article...]
China's composite PMI stands at 53.3 in May
SMM's purchasing managers' index (PMI) across China's construction, power, electronics, transportation and home appliance sectors, major consumers of copper, released on May 31, fell from April's 52.14 to 50.94 in May, missing the forecast for an increase to 53.75. [Full Article...]