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What the Papers SayBack

The Financial Times

SNP and Cameron shadow box over second poll

David Cameron

Nationalists are unsure about demanding another ballot within the next few years

BoE deputy warns on cutting back regulation

A deputy governor of the Bank of England has warned against watering down financial services regulation to boost short-term growth, in what some will see as a rebuke to the government

Hedge fund economist appointed to panel that sets interest rates

Vlieghe joins at crucial time as members look to first increase in borrowing costs since 2007

Services sector accelerates pace of economic growth

Sterling strengthens on expectations of first rate rise since financial crisis

Companies and Markets

Kurdistan cash squeeze tests western oil groups

Dispute between Erbil and Baghdad leaves Genel, Gulf Keystone and DNO owed hundreds of millions of dollars

It is one of the cheapest places on earth to drill for oil— but also among the most dangerous. And, right now, Kurdistan’s intrepid western operators are sweating.

BP to curb spending after $6.3bn loss

BP is to push back billions of dollars of spending on new projects and step up job cuts after a $9.8bn charge from the Deepwater Horizon disaster swung the company to a second-quarter loss.

Lower oil storage profits hit BP’s trading arm

Results at BP’s trading arm, one of the largest and most active of any large energy company, slipped in the second quarter as a shift in the structure of the oil market meant there was less opportunity to profit from storing oil

The Times


Chinese turmoil takes its toll on oil prices

Oil traded close to its lowest level in nearly six months yesterday amid fears over signs of a serious Chinese stock market rout.

The Daily Telegraph


Rates rise moves closer as recovery ‘motors ahead’

Britain’s recovery is “motoring ahead”, the Chancellor declared yesterday, after official data showed faster growth in the second quarter pushed output per head back to pre-crisis levels.

The Daily Mail

Stop the traffic…I’ve a £1 million supercar that’s in need of a clean!

(The owner of a Porsche 918 Spyder “caused a scene by having it valeted on one of London’s busiest roads”)

Posted by Lois Hardy on 29/07/2015