More borrowers opt for fixed rate deals as mortgage rates hit record low March 8, 2016 Mortgage rates have dropped to the cheapest on record, according to figures released by the Bank of England this morning. The overall interest rate on new mortgage lending in the final three months of 2015 fell to 2.71 per cent, the lowest since the series began in 2007. The interest lenders are making on the total stock [...]
UK wages and jobs: REC warns UK jobs market faces “serious threats” March 8, 2016 A leading recruitment organisation today warned that the UK jobs market will face a cocktail of "serious threats" in the coming months. It comes as the Recruitment & Employment Confederation's (REC) monthly report showed permanent jobs and accompanying starting salaries grew at the quickest pace in three months in February. Meanwhile, demand for permanent staff saw its sharpest increase [...]
Staff appointments continued to rise at a steady pace last month, with permanent placements rising at their quickest pace for three months, but uncertain times up ahead for recruiters March 8, 2016 The UK's job market looked strong last month, with permanent placements increasing at their fastest rate for three months, a report released today has found. According to the Report on Jobs by Markit and the Recruitment and Employment Confederation (REC), just less than half (44.8 per cent) of the 400 recruitment and employment consultancies questioned said they had [...]
Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]
Oil gushes past $40 per barrel March 7, 2016 The price of oil has surged over $40 per barrel for the first time this year, as shifting sentiment raises hopes that a 20-month price rout is finally coming to an end. Crude has climbed by almost 50 per cent from lows of $27 a barrel after sliding US production and discussions between Saudi Arabia [...]
Federal Reserve vice chair Stanley Fischer says an increase in inflation is stirring March 7, 2016 Inflation in the US could be about to begin rising back up to its two per cent target, the vice chair of the Federal Reserve said today. Stanley Fischer said he disagreed with the idea that the link between unemployment and inflation had be severed. "Since the US economy is now below our two per cent inflation target, and [...]
Bailout mission chiefs to return to Athens as Eurogroup chief Jeroen Dijsselbloem says it time to talk about Greek debt relief March 7, 2016 Mission chiefs from Greece's creditors will return to Athens as soon as tomorrow to race to complete the current stage of the country's €86bn (£67bn) bailout programme. After crunch talks in Brussels, Jeroen Dijsselbloem, president of the group of Eurozone finance ministers, said: The mission chiefs will return to Athens. There is enough common ground for their mission to continue. [...]
Bank of England to offer extra lending to banks around the time of the EU referendum March 7, 2016 The Bank of England today announced it will offer extra lending to banks in the weeks around the EU referendum to stave off the impact of uncertainty on the financial system. Banks will be offered three additional so-called long-term repo operations. They involve swapping cash for eligible collateral, mostly government debt, which is swapped back at a later date. The [...]
Investor sentiment on Eurozone economy stoops to year low March 7, 2016 Investor sentiment on the Eurozone economy has fallen to its lowest level for a year, new survey data shows. The Sentix economic index for the currency-bloc dropped to a score of 5.5 for this month from February’s six. It is the lowest since April 2015. The score was compiled from a poll of 1,102 investors. “The [...]
Iron ore makes massive 19 per cent price jump – leads mining share prices Ferrexpo and Lonmin higher March 7, 2016 Iron ore has lead a fresh rally in commodity prices that has recorded gains over the past two weeks as traders bet that prices have finally bottomed out. The price of iron ore climbed by 19 per cent to $63.74 a dry metric ton according to industry data gatherer Metal Bulletin. The leap in the [...]