Slip in number of US mortgage applications November 13, 2013 The number of mortgage applications in the US fell last week by 2.8 per cent, according to the Mortgage Bankers Association (MBA). The MBA's seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.8 per cent in the week ending 13 November. Capital Economics has stressed that [...]
BG executive director steps down November 13, 2013 BG group announced on Tuesday that executive director and chief operating officer, Martin Houston, has stepped down from the board and group executive committee with immediate effect. Mr Houston will retire from the oil and gas company by 31 December 2014. Executive vice president operations, Sami Iskander will take over the role of chief operating [...]
Bank of England upgrades growth forecast as it predicts unemployment threshold could be met by end of 2014 November 13, 2013 The Bank of England (BoE) has brought forward when it expects unemployment to fall to seven per cent by 18 months. It has also upgraded its growth forecast for 2013 from 1.4 per cent to 1.6 per cent and, for 2014, from 2.5 per cent to 2.8 per cent. Growth is set to get stronger, [...]
Eurozone industrial production falls by 0.5 per cent November 13, 2013 Output in the Eurozone industrial sector declined by 0.5 per cent in September – more than the expected 0.3 per cent. This follows a rise of one per cent in August. Compared to September 2012, industrial production increased by 1.1 per cent in the euro area and by 1.2 per cent in the 28 EU [...]
UK unemployment falls to 7.6 per cent November 13, 2013 The UK's unemployment rate fell to 7.6 per cent between July to September, pointing to a continued strengthening in the labour market. Analysts had expected it to remain unchanged at 7.7 per cent. The current rate of unemployment improvement would see the Bank of England's seven per cent threshold met in the fourth quarter of [...]
Spain sees deflation in October November 13, 2013 Spain slid into deflation for the year ended in October. This was expected, following an estimate, and suggests the the European Central Bank may have been right to cut its main benchmark rate as the euro area continues to see weak demand and low price growth. Spain's consumer price growth dipped 0.1 per cent on [...]
Help to Buy boosts Barratt sales by 47 per cent November 13, 2013 Barratt Developments has praised the government's Help to Buy scheme for playing a large role in the rising activity in the housing market, reportinga rise in private forward sales of 46.7 per cent, or £1.1bn, for the period of July to November. The company's interim management statement, released on Tuesday, said: The Government's Help to [...]
SSE shares up as supplier raises dividend November 13, 2013 Energy supplier SSE has published its financial results this morning – the first of the big six to do so since the price hikes. The company, which raised its prices by 8.2 per cent last month, saw a year-on-year profit drop of 12 per cent in the six months to September. Its energy supply business [...]
Sainsbury’s market share at decade high as profits rise November 13, 2013 Sainsbury's has said this morning that its grocery market share is at its highest in a decade, at 16.8 per cent. The supermarket has seen like-for-like sales growth for 35 consecutive quarters, with profits in the first half of 2013 up seven per cent, at £400m. (Release) Total sales including fuel were up 4.4 per [...]
What you need to know before the open – 13/11 November 13, 2013 With Asian markets closing lower today, European markets are expected to follow suit, as investors await UK unemployment numbers later this morning. With Mark Carney's report following the data, the focus will be on the Bank of England's forecast for growth and unemployment, along with its plans for a rate hike. European opening calls [...]