London house prices: The prime London property market has peaked – 2015 prices have hardly risen December 22, 2015 London's prime property market faltered at the end of the year thanks to taxes and stamp duty changes continuing to dampen things. The premium housing market fell 0.8 per cent, on average in the last quarter of the year, compared to a 4.4 per cent rise in other prime markets across the country in places such as Cambridge, [...]
European Stability Mechanism grants Greece another billion euros, taking total bailout so far to €21.4bn December 22, 2015 Greece has been granted a further €1bn (£740m) today, the Eurozone's bailout manager said. The European Stability Mechanism's (ESM) approval of the payment rounds off the first tranche of bailout cash for Greece after it agreed a new rescue package in August. Greece's government will be able to use the cash for "debt service, budget financing, and [...]
US GDP growth revised down to two per cent December 22, 2015 The US economy grew at slightly slower rate than previously estimated between July and September, according to figures released today. The economy expanded at an annual pace of two per cent, according to the Bureau of Economic Analysis' (BEA) third estimate of GDP, down from 2.1 per cent in the second estimate. The BEA said the [...]
US crude and Brent crude oil prices tick up after sliding to multi-year lows December 22, 2015 Oil prices edged off multi-year lows this afternoon as investors closed bets prices would fall ahead of the holidays. The US benchmark West Texas Intermediate gained 0.36 per cent at $35.93 per barrel this afternoon, while the global benchmark Brent crude slipped 0.1 per cent at $36.25 per barrel. "The sentiment has been very negative and ahead of the holidays [...]
Job hunting on the cards post-Christmas as just over a quarter of finance professionals already looking for a new job December 22, 2015 Those fancying a change of scenery office-wise in 2016 better get polishing off their CV fast, as just over a quarter (27 per cent) of financial services professionals have already started looking. According to figures shown exclusively to City A.M. today by recruitment consultancy Robert Walters, almost half (46 per cent) of those working in [...]
How to get more women in STEM: Celebrate female talent and role models to change young girls’ perceptions December 22, 2015 There has never been a better time to be a woman in STEM. Indeed, women now make up a record number of FTSE 100 board positions and they are increasingly represented in high profile STEM roles. The current presidents of both the Royal Academy of Engineering and the Institute of Engineering and Technology, for example, [...]
Bad news for George Osborne as UK borrowing rises again, missing expectations December 22, 2015 Public sector borrowing rose to £14.2bn in November, missing expectations of £11.8bn and rising higher than this time last year, when the UK borrowed £12.9bn. The figure suggests the Treasury is likely to miss a full-year target of £73.5bn set by the Office for Budget Responsibility (OBR), analysts suggested. "Barring a dramatic improvement in the [...]
Warning shot to the City as trader Tom Hayes’ conviction over Libor scandal upheld December 22, 2015 The City was sent a stark warning yesterday that authorities will continue to crack down on financial crime as Court of Appeal judges upheld Tom Hayes’ conviction for Libor rigging. Hayes, who was found guilty on eight charges of conspiracy to defraud and sentenced to 14 years in August for his role in the manipulation [...]
UK consumer confidence ends 2015 on a high December 22, 2015 UK consumer confidence rose in December, rounding off a strong year for shoppers. The monthly consumer confidence index published today by market researchers GfK hit a score of two this month from one in November. Between 2008 and 2014, the index spent most of its time in negative territory. “This is the first time since [...]
London house prices to climb five per cent in 2016, says Royal Institution of Chartered Surveyors December 22, 2015 London house prices will climb five per cent next year as the shortage of homes coming to the market and rising demand lifts prices, according to a new forecast. The Royal Institution of Chartered Surveyors (RICS) said prices were forecast to go up despite the launch of government initiatives to boost homebuilding. However, London price growth is [...]