Brent crude and US WTI oil slide towards $30 per barrel January 12, 2016 Oil prices slid towards $30 per barrel and to levels not seen in over a decade today. Brent crude, the global benchmark, fell over three per cent to a low of $30.43 per barrel earlier in the day, its lowest level since April 2004, before edging up to $31.12. West Texas Intermediate crude, the US benchmark, fell over three per cent to [...]
Gender equality is still a generation, or 17 years, away, as women under 35 are most pessimistic about the time needed for change January 12, 2016 Global leaders think that gender equality in the workplace is at least a generation, or an average of 17 years, away. According to a report out today by Right Management, which is part of the ManpowerGroup, millennial women are the most pessimistic about the rate of change, believing that it will take 22 years for [...]
UK retail sales: Christmas brings little cheer to retailers January 12, 2016 Christmas brought little cheer to UK retailers in December as hopes of a boost to sales from higher consumer confidence fell flat. The British Retail Consortium (BRC) and KPMG’s latest monthly index shows like-for-like retail sales rose by 0.1 per cent from December 2014, when they had decreased 0.4 per cent. Total sales were up one [...]
Don’t panic yet on stock market swings, say economists January 11, 2016 The sharp falls in global stock markets since the beginning of the year are unlikely to usher in a new period of economic turmoil, economists have said. London’s FTSE 100 has lost 3.6 per cent this year while the Vix, known as an investors’ fear index, hit 27 at the end of last week, the highest since [...]
Francois Hollande’s economic adviser Laurence Boon joins Axa January 11, 2016 One of French President Francois Hollande's economic advisers has been snapped up by French insurance giant Axa. Laurence Boone, who was critical of Hollande's socialist government before being appointed, controversially joined Hollande's team of advisers in June 2014. She left a post at Bank of America Merrill Lynch Global Research to do so. “I am absolutely delighted that Laurence [...]
Morgan Stanley warns oil prices could fall to $20 per barrel due to a strong US dollar January 11, 2016 Foreign exchange rate movements could send Brent crude oil as low as $20 per barrel, investment bank Morgan Stanley has warned. In a research note sent out today, it said oil prices could fall between 10 to 25 per cent if the US dollar gains five per cent. While the widening gap between supply and demand may [...]
Catalan independence unlikely despite separatist victory, say economists January 11, 2016 The election of a new leader in the Spanish region of Catalonia over the weekend is unlikely to result in independence for the region, analysts believe. The developments are also likely to spur on activity at the national level, with parties against Catalan independence under more pressure to reach a deal on a functioning state. [...]
Flood-o-nomics: Why floods such as those in northern England, Scotland and Ireland keep affecting so many people January 11, 2016 The rain that fell during the last few weeks has resulted in widespread flooding across northern England, Scotland and Ireland. But the misery that these floods are inflicting is part of a major global problem. Over the past 30 years, floods that took place around the world killed more half a million people and displaced [...]
Euribor rigging trial: £1m bail requested for Christian Bittar as six of 11 ex-traders accused appear in court January 11, 2016 Former Deutsche Bank employee Christian Bittar, who appeared in court today over accusations regarding the manipulation of the Euro Interbank Offered Rate (Euribor), has been ordered to pay bail security of £1m. Bittar, who was represented by David Cameron's brother Alexander Cameron QC and will turn 44 years old tomorrow, was one of the six ex-traders who attended Westminster Magistrates’ [...]
How you can live in a £3m London mansion for free: SpareRoom founder Rupert Hunt’s lucky flatmates will pay only what they can afford for rent January 11, 2016 One property entrepreneur is giving someone the opportunity to live in a £3m mansion in the heart of the city – for free. Rupert Hunt, the founder of letting website SpareRoom, is looking for a new flatmate for his swanky pad in Spitalfields which boasts six bedrooms over five floors and grade two listed status, but is making it [...]