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 [...]
US manufacturers are having a tough start to 2016 as weak global demand and strong dollar drag on exports February 1, 2016 The first month of 2016 was not a good period for factories in the US, according to survey data released today. Markit's purchasing managers' index – compiled from a survey of manufacturers – edged up to a score of 52.4 in January. While it is above the 50 mark that indicates no change in activity [...]
The US Federal Reserve’s favourite measure of inflation is at its highest for a year February 1, 2016 The US central bank's favourite measure of inflation held steady in December, according to figures released today. Prices, as measured by the personal consumption expenditures (PCE) index, dropped slightly in December, but were up 0.6 per cent year-on-year, the fastest rate for 12 months. The Bureau of Economic Analysis said that core PCE, which excludes food and energy, [...]
UK house prices: Mortgage lending rose unexpectedly in December February 1, 2016 The rush to sneak that house purchase in before interest rates rise continues apace: figures published by the Bank of England this morning showed mortgage lending jumped unexpectedly in December, beating analysts' expectations. Mortgage lending for house purchases rose to 70,837 in December, up from 70,424 in November. That was against analysts' expectations of a modest fall, [...]