Greece falls back into recession despite GDP beating expectations February 12, 2016 The Greek economy has skidded back into a recession – but it’s still beating expectations. Greece’s GDP shrank by 0.6 per cent in the fourth quarter of 2015, marking its second consecutive quarter of contraction. Year on year the economy has shrunk by 1.9 per cent, according to a flash estimate from the Hellenic Statistical [...]
Eurozone fourth quarter economic growth beats expectations February 12, 2016 The Eurozone economy grew by more than expected in the final three months of last year, nevertheless economists described its performance as steady but disappointing. Eurostat said today that Eurozone gross domestic product grew by 0.3 per cent from October to December, beating economists' forecasts for it to stagnate, Eurostat said today. This was unchanged from [...]
Bad news for Valentine’s Day truffle buyers: Chocolate could be about to become more expensive as emerging markets develop a sweet tooth February 12, 2016 The price of chocolate could be about to leap, as inefficient farming methods come up against spiking demand, new research has suggested. Something to think about as you're scoffing those Valentine's Day truffles… The research, by Hardman Agribusiness, said western consumers now munch their way through 286 35g bars of chocolate a year. That's more than 10 kilograms [...]
Brent crude and WTI: Oil prices jump on renewed Opec deal chatter – but analysts aren’t convinced February 12, 2016 Crude prices jumped today as renewed chatter about a possible production cut deal swirled around oil markets. Brent crude, the global benchmark, jumped four per cent to $31.26 per barrel. Meanwhile, West Texas Intermediate, the US benchmarked, added 3.8 per cent to $27.19. It came after the United Arab Emirates energy minister Suhail bin Mohammed al-Mazrouei said [...]
UK house prices: Buying a house with your heart instead of your head costs more than £16,000 – but London isn’t the worst February 12, 2016 Waiting until you fall in love with a house before agreeing to buy it? New research claims that could really be hurting your wallet. Zoopla estimates that over a third of purchasers (34 per cent) spent more than their allocated budgets because they were ruled by their heart instead of their head – and the average [...]
What a week: Over $1 trillion wiped off global stock markets including the FTSE 100 and Dow Jones since Monday February 12, 2016 Trading floors throughout the world were overwhelmed by fear yesterday, as investors pulled cash out of risky assets and sent stock markets plunging further into the red. Around $1.2 trillion has been wiped off the value of global equities since the start of the week, with banks bearing the brunt of widespread concern that another [...]
Sales of £10m-plus London homes drop by a third as George Osborne’s stamp duty tax changes bite February 12, 2016 Sales of London's priciest homes slumped by a third last year as even the wealthiest investors balked at paying the higher rate of stamp duty introduced by George Osborne's tax reforms. The number of super prime properties – those costing £10m or more – fell from 195 in 2014 to 130 last year, down 32 per cent, according to [...]
Brits bought a record number of new cars last year, but what was the best selling colour? February 12, 2016 White was the most popular colour for new cars last year. It was closely followed black and grey, with Brits opting for neutral tones as they smashed the record for new car purchases. The UK’s car manufacturers boomed last year on the back of strong domestic sales – 2015 was their best year for a decade. According [...]
Brent crude oil price bounces on Opec rumours February 11, 2016 Having hovered perilously close to $30 per barrel today, Brent crude bounced, after rumours emerged that the Organisation of Petroleum Exporting Countries (Opec) was preparing to "co-operate" on a production cut. Brent crude was up 1.3 per cent, at $31.23 per barrel, in late trading in New York, after the Wall Street Journal suggested that [...]
Portuguese borrowing costs surge to highest since 2014 February 11, 2016 Portuguese government borrowing costs have shot up to their highest level since 2014. The interest rate on the government’s 10-year bonds rose above 4.4 per cent today before falling back to 4.1 per cent. It was 2.5 per cent at start of the year. The new left-wing government which took over last year has promised [...]