Christmas gifts 2015: Almost half of UK adults have at least one relative living abroad and 16 December is expected to be the day we are most likely to send money overseas December 16, 2015 Business has become more global but it turns out the same is true for family matters. A study out today from the Post Office International Payments has found that 41 per cent of UK adults now have at least one relative living overseas. So, if you've found yourself grappling with last postage dates for overseas for [...]
The Bank of England will look for an all clear from the US Federal Reserve’s interest rate decision December 16, 2015 When the United States Federal Reserve finally raises its benchmark interest rate after seven long years at zero, no central bank will be watching what happens more carefully than the Bank of England (BoE). After all, the cyclical similarities between the UK and US mean markets will be looking to BoE as the next central bank [...]
FTSE posts biggest one-day gain in over two months – London Report December 16, 2015 The top FTSE index rose yesterday after eight straight sessions of falls, with supermarkets, commodity stocks and firms with South African exposure among the companies rebounding from previous falls. The FTSE 100 was up 2.5 per cent at 6,017.79 points at its close, its biggest one-day gain in over two months, having fallen 8.5 per [...]
Banks gain on rate hike hope – New York Report December 15, 2015 Wall Street rose broadly yesterday but ended far off their session highs ahead of today’s expected interest rate hike by the Federal Reserve. The Dow Jones industrial average rose 156.41 points, or 0.9 per cent, to 17,524.91, the S&P 500 gained 21.47 points, or 1.06 per cent, to 2,043.41 and the Nasdaq Composite added 43.13 [...]
London’s Christmas shopping habits revealed: We spend the least, rely on credit and would rather delegate the whole thing to somebody else December 15, 2015 Despite what your bank balance might be leading you to believe, Londoners are not particularly big spenders on Christmas gifts. Figures released by eBay today have revealed that those in the capital spend an average of just £181.22 on presents, compared to £208.94 across the UK as a whole. London shoppers are also unlikely to [...]
Bankers’ bonus rules have led to higher fixed salaries, making losses difficult to absorb in event of a downtown, warns Bank of England December 15, 2015 Regulations surrounding bankers' pay, particularly the EU bonus cap, have led to fixed salaries representing a higher proportion of total pay packets, meaning financial institutions are less capable of reacting to a downturn, the Bank of England has warned today. In its fourth quarterly bulletin for 2015, the Bank of England pointed out that not being able [...]
US inflation jumps ahead of Federal Reserve interest rate decision December 15, 2015 US inflation rose to a 2015-high in September as the impact of low energy prices began to fade. Annual inflation, as measured by the year-on-year change in the consumer price index, jumped to 0.5 per cent in November from October’s 0.2 per cent. The figures from the Bureau of Labor Statistics show the impact of oil [...]
US interest rate hike: The Fed will raise rates at least three times in the next year, fund managers predict December 15, 2015 Tomorrow, the Federal Reserve is expected to raise US interest rates above their near-zero levels for the first time since 2006. But the changes won't end there, according to most US fund managers. Bank of America Merrill Lynch's (BoAML) December survey shows how 58 per cent of them expect at least three rate hikes to take [...]
Turmoil: Analysts cut oil forecast as glut woes intensify December 15, 2015 Citi analysts are the latest to lower their expectations for the short term future of the oil price, predicting a “very weak first quarter”. The supply glut is now widely expected to run on well into 2016 due to Opec reiterating its dedication to unrestricted pumping, Iran charging into the market once sanctions are lifted [...]
Bank of England: UK households can handle an interest rate hike December 15, 2015 British households are well placed to handle an increase in interest rates, the Bank of England said today. The Bank’s annual survey of 6,000 households compiled by NMG consulting found households were “in a slightly better position to cope with an increase in interest rates than they were a year ago”. The survey revealed that if interest [...]