London Report: Rate watchers to eye MPC minutes to see if dissent surfaces August 17, 2014 THERE will be keen interest in the details of the latest set of MPC minutes, out on Wednesday. The main question will be: does the MPC remain unanimous in its stance, or was there some dissent for the first time against Mark Carney? Today will see interim reports from Amlin, Bovis Homes Group, Clarkson and [...]
The Week Ahead: Yellen debut at Jackson Hole August 17, 2014 FLASHES of illumination rather than fireworks are expected at this week’s annual meeting of top central bankers and economists in Jackson Hole, Wyoming. Few predict as momentous a speech as that by Federal Reserve chairman Ben Bernanke two years ago that paved the way for an unprecedented $85bn (£51bn) per month stimulus plan. His successor [...]
US airstrikes continue as Kurds fight to retake Mosul Dam from IS August 17, 2014 The US has upped the number of airstrikes on IS forces, helping Kurdish peshmerga troops recapture the vital Mosul Dam. US Central Command confirmed a total of 14 strikes on Sunday in missions that seemed to extend beyond the US's original stated aims to protect US interests and prevent a humanitarian disaster. Sunday's strikes targeted [...]
UK exit from the EU could lead to banking exodus August 17, 2014 Several US banks would consider moving key London-based operations abroad if Britain were to leave the EU, according to a report in the Financial Times (FT). The FT said that sources "familiar with Bank of America, Citigroup and Morgan Stanley" indicated the banks viewed Ireland as an attractive option for certain European activities if a move away [...]
Pro-Russian rebels shoot down Ukrainian fighter aircraft as ministers meet for talks August 17, 2014 A Ukrainian jet fighter was shot down by pro-Russian rebels yesterday, just before key talks between Kiev and Moscow, aimed at de-escalating the fighting in the east of Ukraine. According to Agence France-Presse, Ukrainian officials revealed a MiG – 29 was downed as it flew to "eliminate a large group of terrorists." The timing of [...]
Scottish independence: Poll suggests “Yes” camp is closing the gap August 17, 2014 Support for a Scottish "Yes" vote is on the rise, and has closed the gap on the unionist "No" campaign by two percentage points according to a survey. The ICM poll, for Scotland on Sunday, revealed that undecided voters were beginning to pick sides. The "Yes" campaign saw its support up by four percentage points [...]
In graphs: UK is “halfway to recovery” says Carney August 17, 2014 Britain's economy is "more than halfway towards the finish line" Bank of England governor Mark Carney has said, with the UK economy expected to grow by 3.5 per cent this year. Perhaps more poignantly for those looking for hints as to an interest rate rise, Carney also indicated he wouldn't necessarily wait until wages caught up [...]
Scottish independence: Investment remains strong despite looming referendum, says report August 16, 2014 Despite concerns that the looming independence referendum has raised about Scotland's future, investment in the country remains strong. A report released by global property advisers Colliers International indicates that Scotland is actually receiving an increasing proportion of the UK's total investment. Called “Scottish Referendum: A property investor perspective”, It claims that rather than [...]
Banks warn that HMRC won’t protect most vulnerable in tax grab plan August 16, 2014 The head of the British Bankers' Association (BBA) has sent a letter to chancellor George Osbourne, warning him that British banks do not believe HM Revenue & Customs can be trusted to fairly and safely take money out of tax payers' bank accounts. Controversial proposals outlined by the chancellor during his budget speech in [...]
Over 30 people found trapped in container at Tilbury docks in Essex August 16, 2014 More than thirty people were found trapped inside a shipping container at Tilbury Docks in Essex this morning, including one man who has died. Essex Police released a statement saying "thirty-one people, including adults and children of both genders, were found inside. "One man has sadly died and the others have significant health [...]