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Maersk Oil’s Culzean gasfield given go-ahead

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North Sea development expected to produce enough gas to meet 5% of the UK’s needs and create more than 400 jobs The biggest North Sea gasfield discovered in the past decade is to be developed, after energy authorities gave approval for a £3bn investment that could produce enough gas to meet 5% of the UK’s [...]

Chinese financial reporter makes on-air ‘confession’ after market chaos

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Accused of spreading fake information, Wang Xiaolu detained over stock market story published at sensitive time A journalist from one of China’s leading financial magazines has been paraded on state television to make an on-air “confession” for supposedly triggering stock market chaos with his reporting. Wang Xiaolu, a business reporter for Caijing, was detained last [...]

Burma’s minimum wage pledge welcomed by UK retailers

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Fashion brands say move to pay workers £1.82 for an eight-hour day will help Burma’s garment industry become ‘thriving economic driver’ Major British clothing retailers using factories in Burma have welcomed the nascent democracy’s steps to regulate low pay. Marks and Spencer, Tesco, Primark, New Look and Topshop have joined international players including H&M, C&A, [...]

Alcohol sales get higher after weed legalization contrary to industry fears

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Alcohol businesses are seeing ‘phenomenal growth’ alongside marijuana industry in Colorado, dispelling concerns that consumers prefer pot over booze Underlying the debate over marijuana legalization has been an equally fierce battle between marijuana and another so-called vice industry: alcohol. As an increasing number of states look to join the four states and Washington DC in [...]

Shares complete worst month since GFC as Australian growth is tipped to slow

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The ASX200 fell 1% on Monday as investors worried about the US Fed raising interest rates, and falling corporate profits and economic growth at home The Australian share market capped its worst week since the global financial crisis by closing 1% lower as investors fretted over the possibility that the US Federal Reserve could soon [...]

Twitter publishes targets for a ‘more diverse’ workforce in 2016

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Aims to increase proportion of women and underrepresented minorities, with no African American or Hispanic staff currently in US leadership positions Twitter has outlined its ambitions to boost the proportion of women and underrepresented minorities in its workforce, publishing targets for “a more diverse Twitter” in 2016. The social network is aiming to increase the [...]

It’s a weak ray of sunshine trying to disperse dark clouds over mining sector

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Despite Joe Hockey talking up the non-mining investment picture, a more accurate description is that it’s bad, but not as bad as we thought it could be The new capital expenditure figures released last week continue to reinforce that the mining boom is done and dusted, and that the transition from the boom continues at [...]

Longer lasting ice-cream developed by scientists

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A protein to make the frozen dessert melt more slowly has been discovered by physicists at Edinburgh and Dundee universities Researchers have discovered a protein that can be used to create ice-cream that melts more slowly than conventional products. It works by binding together air, fat and water – creating a pudding with a super-smooth [...]

Ferry services between England and France disrupted by Calais blockade

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Industrial action by former staff of defunct ferry company MyFerryLink sees ships waiting to enter port during busy bank holiday weekend Ferry services have been disrupted between England and France by a blockade at Calais. Ferry movements at the northern French port were suspended due to industrial action, Port of Dover officials said. Related: Calais [...]

‘Boil water notice’ lifted in Chorley, Preston and South Ribble

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A further 86,000 households no longer have to boil their tap water after cryptosporidium was detected at a water treatment works in Preston Another 86,000 households in Lancashire have been told they no longer have to boil their water following the outbreak of a parasitic bug in the main supply. Related: Lancashire water warning lifted [...]

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