Russian ambassador to Ankara shot dead in an attack in Turkey December 19, 2016 The Russian ambassador to Ankara, Andrei Karlov, was shot dead in an attack in Turkey today. Karlov was shot while making a speech at the opening of an exhibition at an art gallery by a gunman who shouted in Turkish: "Don't forget Aleppo. Don’t forget Syria. Unless our towns are secure, you won’t enjoy security. Only death can take [...]
Uncertainty causes 20 per cent of market fluctuations says the ECB December 19, 2016 Uncertainty about the future has a measurable economic effect – and could account for as much as 20 per cent of fluctuations in the economy, according to a report by the European Central Bank (ECB). The ECB report said: “Macroeconomic uncertainty is estimated to have contributed significantly to real GDP growth fluctuations in the euro [...]
New proposals could cause banks to pocket up to £23bn in unpaid PPI compensation, a group said December 19, 2016 Banks stand to pocket up to £23bn in unpaid payment protection insurance (PPI) compensation when new deadlines come in, a new campaign group has warned. The group Payback Time was launched today to warn how new proposals to be announced in early 2017 are expected to limit what companies can do to expose the PPI [...]
This is what will happen to rents next year December 19, 2016 It has been an eventful year for landlords. They have been under intense pressure from the government in 2016, starting in April, when former chancellor George Osborne's stamp duty hike on second homes came into effect. Then, when Philip Hammond took over, he used his first Autumn Statement to ban letting agents' fees for tenants, saying [...]
US services PMI sees December slowdown but continued health in the economy December 19, 2016 US services are experiencing a slight slowdown in December after peaking in October, according to a widely followed indicator of economic activity, but the indicator still shows healthy confidence levels in the world's largest economy. The US services purchasing managers’ index (PMI) fell to 53.4 in December, down from the 54.6 level last month, according to [...]
Households could start 2017 hundreds of pounds worse off by not switching deals before dozens come to an end December 19, 2016 UK households could be starting 2017 more than £250 worse off when dozens of fixed dual fuel energy tariffs finish at the end of this month, GoCompare Energy has warned. At the end of the month, 35 fixed dual gas and electricity tariffs from some of the country's leading suppliers are due to terminate, 33 of [...]
Deutsche Bank mega fine could be sorted by Wednesday December 19, 2016 Deutsche Bank could enter 2017 with one less item to tick off its to-do list, as it has emerged that a potential mega fine from the US Department of Justice (DoJ) could be settled on Wednesday. In September, it was revealed the German banking giant was facing a penalty of $14bn (£11.3bn) for mis-selling mortgage-backed securities. [...]
Monte dei Paschi share price drops nine per cent on reports rescue plan is floundering December 19, 2016 Shares in troubled Italian bank Monte dei Paschi dropped by more than nine per cent this afternoon, on reports that a rescue plan could be about to fall apart. The bank is trying to resolve its differences with a key investor over its €5bn (£4.2bn) rescue plan so as to avoid a state bailout, Reuters reported. [...]
Hurricane Energy’s share price storms higher after group announces “significant” North Sea oil find December 19, 2016 Hurricane Energy's share price has stormed more than 13 per cent higher this morning after the group announced it had made a "significant" find at its North Sea Lincoln well. Drilling has revealed the oil column's estimated 250m barrels of recoverable oil is a "conservative" forecast, Hurricane said today. The well is close to the company's [...]
IMF chief Christine Lagarde found guilty in negligence trial December 19, 2016 The head of the International Monetary Fund (IMF), Christine Lagarde, has been found guilty of negligence in relation to her handling of a controversial payout to a French tycoon during her time as the country's finance minister. However, the judges did not hand down any sentence in the case. The IMF chief was facing charges linked to [...]