House price growth slows in August September 6, 2013 House prices have risen by 0.4 per cent in August, down from a 0.9 per cent rise last month, according to the Halifax house price index. Economists had forecast a rise of 0.7 per cent. House prices have risen 5.4 per cent in the three months to August on the same period last year. Nicholas [...]
French consumer confidence ticks up in August September 6, 2013 French consumer confidence is up slightly in August, from 82 to 84, according to new numbers from INSEE. That's slightly above expectations of a rise to 83. Respondents saw their financial situation slightly improved, with past situation up one point and future up two. Assessment of August being a suitable time to make major purchases [...]
Before the open – 06/09 September 6, 2013 Strong US data yesterday has led traders to fear potential US Federal Reserve tapering could be moved forward. Now the FTSE could open lower on nerves over that tapering – a reduction in the rate of expansion of the US' monetary base. So all eyes are on today's US jobs data, out at 13:30. Investors [...]
Tullow Oil discovers oil at offshore Norwegian site September 6, 2013 Tullow Oil has announced the discovery of oil at the Wisting Central exploration well, offshore Norway, the first ever oil discovery in the Hoop-Maud Basin in the Barents Sea (release). Results of drilling, wireline logs and samples of reservoir fluids show that the well has encountered 50-60 metres of net light oil pay in good [...]
Walkie Scorchie sets carpet on fire, cracks tiles and melts paint | City A.M. September 6, 2013 THE GREAT Fire of London began on Pudding Lane on 2 September 1666. And yesterday – exactly 347 years later – there was once again smoke in the vicinity, as the Walkie Talkie’s beam of hot light set the carpet of a nearby barber shop on fire. “We want the developer to fix it somehow,” Ali Akay of [...]
Eggsclusive: We use the Walkie Scorchie light beam to fry an egg | City A.M. September 6, 2013 (Laura Lean/City AM) The developers of the Walkie Scorchie skyscraper – aka 20 Fenchurch Street – had hoped their building would be known for its striking design and its blue chip clients. But instead over the week City A.M. has revealed how the building has begun emitting a curious ray of light, started melting cars, set [...]
Walkie Talkie has few design solutions as beam warms shops to 70°C | City A.M. September 6, 2013 EXPERTS yesterday said the hot ray of light reflected by the Walkie Talkie is on an “unprecedented” scale – as City A.M. found the heat on Eastcheap in mid-afternoon is hitting 70°C. “I’m flabbergasted,” said Dr Philip Oldfield, an expert in tall buildings at the University of Nottingham’s Department of Architecture, who warned other parts of [...]
Innovation Diary: Success breeds success: Why startup networks are important September 6, 2013 BRITAIN is the best place in Europe to be an entrepreneur. This, at least, is the conclusion of a study released by Ernst & Young last week. While the UK lags behind the US, South Korea and Australia, the G20 Entrepreneurship Barometer credited Britain’s regulatory framework, its tax system, its culture, and its financial sector [...]
It’s time we ended the pretence that planning rules come without a price September 6, 2013 MOST agree that the UK housing market has long been stuck in an affordability crisis. Despite a fall in prices since 2007, Nationwide recently calculated that the typical house now costs 5.1 times average earnings, up from 3.9 a quarter of a century ago. In London, the ratio has risen from 5.7 to 7.7. And [...]
Great US data sends UK borrowing costs over three per cent for first time since July 2011 September 5, 2013 Some great data from the US. UK 10 year yields have risen above three per cent for the first time since July 2011. (Tradeweb) You can see they've been creeping up throughout the day, with a final jump with the US data release. That means effective government borrowing costs have shot up. UK 10yr yields [...]