Stanhope, Cheyne Near Deal to Buy LandSec's Prime London Project
Alternative asset manager Cheyne Capital Management and developer Stanhope are expected to team up to buy the Southwark property overlooking the City of London, people familiar with the matter said, asking not to be identified discussing non-public information.
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26 minutes ago
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Oil price structure narrows, premiums fall as supplies rise, summer demand ends
By Florence Tan, Georgina McCartney and Robert Harvey SINGAPORE/HOUSTON/LONDON (Reuters) -Premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends, traders and analysts said on Thursday. Easing concerns that the U.S. could impose more sanctions on Russia and further disrupt oil supplies are also weighing on oil prices, they said. The six-month time spreads for Brent futures, U.S. West Texas Intermediate futures and Middle East marker Dubai have narrowed by more than $1 a barrel in backwardation since the start of the month. Backwardation refers to a market structure where prompt prices are higher than those in future months, indicating tight supply. A narrowing of the structure indicates a market view that supplies are expected to rise. "Brent and Dubai time spreads are softening mainly on expectations of incremental OPEC+ supply from September and easing fears of Russian disruption after recent steady flows via both Baltic and Black Sea," said Shohruh Zukhritdinov, a Dubai-based oil trader. "U.S. crude supply remains stable, but refinery runs will gradually decline into the shoulder season, easing prompt tightness," he said. U.S. President Donald Trump and Russian President Vladimir Putin will meet in Alaska on Friday to strike a ceasefire deal in Ukraine. Citi analysts said Brent could land in the low-$60s per barrel area, if there is progress towards a U.S.-Russia deal. RISING SUPPLY, END OF SUMMER Traders are bracing for more supplies after the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to increase September output, just as non-OPEC producers such as Guyana, Brazil and Norway launched new production. Peak oil demand during the Northern Hemisphere summer is also ending, cooling red-hot diesel margins in Europe and reducing the burning of crude for power in Saudi Arabia, the sources said. "We saw a lot of selling in the window, with expectation around crude demand revised down as refinery margins weaken as gasoil/diesel cracks unravel," said Harry Tchilinguirian, group head of research at Onyx Capital Group, referring to physical trade in the North Sea market. "Now that seasonal demand is going to unwind, and we cannot be sure that China will keep up elevated imports (for stockpiling), so where does the extra Saudi barrels go?" Meanwhile, spot premiums for Middle East benchmarks Dubai and Oman hovered at their lowest in more than a month for October-loading supply. [CRU/M] Still, Dubai is relatively stronger than Brent, keeping the price spread between the benchmarks - known as the Exchange of Futures for Swaps - narrow and allowing Atlantic Basin supply to head to Asia. Asian refiners have already snapped up millions of barrels of oil from the United States, Africa and Europe for delivery in September and October. Neil Crosby, analyst at Sparta Commodities, said there is still uncertainty over Russian supply with the world's third-largest oil importer India buying spot cargoes to replace Russian oil in recent weeks. "Some (Russian) Urals will go to China but the story is not over yet and there is still some tail risk over what happens to Russian (oil) that cannot clear which makes the EFS trade short term even trickier than normal," he said.
Yahoo
26 minutes ago
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AVF and ErgoAV Merge to Expand Innovative AV Accessories and Mounting Solutions
SHROPSHIRE, England, August 14, 2025--(BUSINESS WIRE)--Renowned British pioneer of AV mounting solutions AVF and fast-growing AV accessories and ergonomics brand ErgoAV today announced their merger, marking a momentous milestone and paving the way for continued growth and innovation for both companies. Consumers in global markets now benefit from an even broader choice of AV solutions and accessories, as both brands will bring in each other's products to their primary markets. AVF is an established industry leader in TV wall mounts, TV stands, and a wide range of AV furniture. Founded in 1977, the company has since become one of the largest AV mount and furniture brands in the UK. "AVF is excited to join forces with ErgoAV, which will significantly expand our portfolio for both retail and commercial channels," said Simon West, Managing Director of AVF. US-based ErgoAV has been building a name for itself since late 2022 with its innovative and ergonomically designed TV mounts, AV furniture, and smart office solutions—all by a team of known industry veterans with multi-decades of experience. ErgoAV is the US subsidiary of parent company Bestqi, one of the world's largest TV mount manufacturers, selling over five million units annually. The company had acquired AVF in June 2025, with the goal to enhance both brands' AV and office product offerings through combined expertise and leveraging Bestqi's R&D and manufacturing capabilities. "The AVF, ErgoAV and Bestqi teams have collectively sold over 100 million TV mounts worldwide," Henry Lyu, CEO of ErgoAV and Bestqi, shared. "By merging ergonomics, smart home solutions, and thoughtful design, we aim to enhance every space with comfort, style, and next-generation innovation." AVF and ErgoAV will retain their distinct brand identities while introducing each other's AV solutions, accessories, and furniture to the global market. This strategic synergy expands consumer choices, delivering creative and versatile options for modern homes and smart work spaces. About ErgoAV Led by a respected team of industry veterans, ErgoAV offers an innovative, ergonomic take on TV mounts, AV solutions, and accompanying accessories and furniture by seamlessly uniting form and function. Designed to enhance viewing and working experiences in any setup, whether home or office, ErgoAV's products optimize any space and provide endless possibilities with layout and viewing flexibility. For more information, please visit About AVF Founded in 1977, AVF has grown to become a leading AV mount brand in the UK and one of the world's leading suppliers of TV wall mounts and stylish TV stands. The company is known for its products' strength, durability, ease of installation, and design—all of which are continuously improved on and upgraded to align with market trends and user needs. For more information, please visit View source version on Contacts For media inquiries, please email: bestqi@ Sign in to access your portfolio
Yahoo
26 minutes ago
- Yahoo
Reeves says rulings on tax must wait for Budget amid inheritance tax speculation
Rachel Reeves has said that decisions around taxes will have to wait for the autumn Budget, amid reports that the Treasury is looking to raise more money from inheritance tax. The Chancellor told reporters that decisions will be made 'in the round' and her priority 'is to get our economy firing off all cylinders'. Earlier this week, the Guardian reported that officials are examining whether tightening rules around the gifting of assets and money could help address the UK's multi-billion-pound fiscal shortfall. Government U-turns over winter fuel payments and welfare reform have left Chancellor Rachel Reeves with a multibillion-pound spending gap to about the reports on Thursday, Ms Reeves said: 'Any decision around taxation is a … decision for the Budget, and I'll make those announcements. 'We haven't even set the date yet for the Budget, but the key focus of the Budget is going to be to build on numbers that we've seen today to boost productivity and growth and prosperity all across the country. 'That is my number one priority as Chancellor, to get our economy firing off all cylinders so that working people in all parts of the country will feel the benefits of that economic growth.' Pushed on whether taxes will have to increase in the autumn, Ms Reeves added: 'We'll wait for the official forecast from the Office of Budget Responsibility, and we'll make those decisions in the round.' Among the reported inheritance tax measures under consideration is a potential cap on lifetime gifts, part of a broader review into how assets can be transferred before death to minimise inheritance tax liabilities. Under current UK rules, gifts made more than seven years before a person's death are exempt from inheritance tax. Gifts made between three and seven years prior are taxed on a sliding scale, depending on their value and the total estate. The Chancellor was speaking as new official figures show that the UK economy slowed in the second quarter of this year amid pressure from tariff uncertainty and tax increases. The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 0.3% for the quarter after 0.7% growth in the first three months of the year. However, the figure was stronger than the 0.1% level widely expected by economists after an uptick in activity in June and revised data for earlier in the quarter.
