Immigration and terrorism worries weigh on UK consumer confidence February 2, 2016 Consumer confidence in the UK has dropped for the first time since 2013, according to survey figures published this morning. Market researchers Nielsen said its consumer confidence index fell to a score of 101 in the final three months of 2015. Concerns over immigration and terrorism had a negative impact. However, consumers are upbeat on [...]
Northern SMEs call for digital investments, as poll shows doubt over the scheme February 2, 2016 Investment in digital infrastructure has been found to be as important to small businesses in the north of England as transport between cities. A desire for increased digital infrastructure spending tied with inter-city transport for the second most wanted investment, supported by 37 per cent, behind increased local control over public spending with 40 per cent. [...]
Next mayor will need to bank on private sector to fund London’s needed infrastructure boom, warns Institution of Civil Engineers February 2, 2016 An industry body for engineers has today called on the mayoral candidates to try out a private-sector focused funding platform that has been successful in the US to help fund London's much needed infrastructure boom. The Institution of Civil Engineers (ICE) has warned that the next Mayor of London will have to do something "radical and innovative" [...]
Pressure mounts on legal sector to make services easier for customers to understand as another consumer body joins the debate February 2, 2016 Legal sector regulators are facing further calls to make the marketplace easier for consumers to understand, as yet another consumer-focused body has voiced concerns. A report out today by the Legal Services Consumer Panel urges regulators to do more to make sure consumers can easily access useful information to help them make informed decisions. The study [...]
Advertised salaries rebound as competition for places declines February 2, 2016 Employers' advertised salaries are rebounding, new figures reveal. Advertised pay rose 0.6 per cent in December to an average of £33,322, jobs site Adzuna said this morning, the second rise in ten months. The number of vacancies dropped 6.4 per cent from November, but is up 20.3 per cent compared with the same month in [...]
Oil prices: Africa’s big oil producers Nigeria and Angola seek World Bank support as rout bites February 1, 2016 Two of Africa's biggest oil producers, Nigeria and Angola, have been forced to seek help from the World Bank, as falling oil prices weigh on their currencies and balance sheets. Nigeria's finance minister, Kemi Adeosun, said yesterday that the country has held exploratory talks with the Washington-based institution to help fund a record budget this [...]
US Federal Reserve vice chairman Stanley Fischer airs concern over financial market volatility February 1, 2016 The vice chairman of the US central bank has said it is difficult to judge whether recent instability in financial markets will impact the Federal Reserve’s decision on interest rates. “At this point, it is difficult to judge the likely implications of this volatility. If these developments lead to a persistent tightening of financial conditions, [...]
Brent crude and WTI: Oil price rally fades on China data, slim chances of Opec deal February 1, 2016 The black stuff's rally proved short-lived today, with Brent and WTI prices tumbling on waning hopes of an emergency meeting between Opec members and weak economic data from China. Brent crude, the international benchmark, shed 3.7 per cent to $34.66 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, slumped 4.82 per cent to $32 per barrel. Oil had [...]
UK manufacturing shoots up for start of 2016, with business survey figures reporting a three-month high February 1, 2016 The UK's manufacturing industry has had a positive start to the new year, although experts have warned of challenges in the current marketplace. Markit's most recent purchasing managers' index (PMI), which was released today, reached a three-month high of 52.9 for January, up slightly from 52.1 in December. Rob Dobson, senior economist at Markit, said: "The UK manufacturing [...]
EU referendum: European Central Bank chief Mario Draghi says deal to keep the UK in the EU would be a boost for Europe February 1, 2016 European Central Bank (ECB) boss Mario Draghi has said that securing a deal to keep Britain in the EU would provide a "confidence boost" to Europe. "There is still political uncertainty surrounding the European project. This is true in the broader context of our Union," Draghi told European Parliament during a session on the ECB's annual [...]