Mortgage approvals dip in November – but are still 25 per cent higher than the same period last year December 24, 2015 It may be hours before the great Christmas getaway begins, but the British Bankers' Association (BBA) hasn't let that get in the way of bringing you Serious News. This morning the organisation said the number of loans dished out to homebuyers has dipped, falling to 44,960 in November, down from 45,463 in October. No festive frivolities there… The [...]
Brent crude oil price rises as US stockpiles drop less than expected – despite disappointing Opec report December 23, 2015 Oil rose slightly this afternoon after figures by the US Energy Department suggested stockpiles of crude oil fell sharply last week – just hours after a report by the world's largest oil cartel said prices aren't expected to rise to pre-2015 levels until 2040. The price of Brent crude oil rose more than two per cent [...]
UK GDP revision: Economic growth weaker than expected December 23, 2015 UK economic growth was slower than previously thought between July and September, weighed down by a worse than expected performance in the dominant services sector. The Office for National Statistics (ONS) today revised its estimate for UK economic growth in the third quarter to 0.4 per cent from 0.5 per cent. Additionally, the annual growth rate was snipped [...]
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 [...]