IMF’s Christine Lagarde hails TPP as economic upgrade October 9, 2015 The Trans-Pacific Partnership (TPP) is an economic "upgrade" with the potential to kick start world markets, International Monetary Fund (IMF) managing director Christine Lagarde said today. Speaking at the annual meeting of the IMF and the World Bank in Lima today, Lagarde stressed the importance of implementing the free trade deal. "I am hopeful that, building on the recent TPP agreement, we can restart the stalling engine of global trade. These upgrades will [...]
UK growth threat as construction sector output falls for the first time since May 2013 October 9, 2015 Output in the UK construction industry fell unexpectedly in August – its first fall since May 2013. Figures by the Office for National Statistics published this morning showed construction fell 4.3 per cent in August compared with the month before, and 1.3 per cent compared with the same month in 2013. The news came as [...]
Emerging market debt threatens global economy according to IMF warnings October 8, 2015 The global economy is struggling under a mountain of debt and heading for a fresh financial crisis, the International Monetary Fund (IMF) has said. Emerging market debt is chief among the “triad” of risks facing the globe, as these economies have over-borrowed by $3.3 trillion (£2.15 trillion) in the last decade, the IMF said in [...]
Dow crosses 17,000 for first time in weeks – New York Report October 8, 2015 Signs of dovishness in the Federal Reserve September meeting minutes which shed light on its decision to keep interest rates near zero helped to maintain an upward momentum in US stock markets. The Dow Jones industrial average rose 137.86 points, or 0.82 per cent, to 17,050.15, the S&P 500 gained 17.56 points, or 0.88 per [...]
US jobless claims fall to lowest in almost 42 years October 8, 2015 The (albeit brief) US jobs market scare is over. The number of people in the US filing for jobless benefits has hit its lowest proportion of the labour force since records began in 1948, quelling fears that the US labour had slowed. Figures last month from the US Bureau of Labour showed the number [...]
The Earth Index: How much does nature add to the global economy? October 8, 2015 The Earth's natural resources are a crucial part of the world's economy, helping to drive agriculture, tourism and the production of man-made objects. Today, BBC published its “Earth Index”, which shows how the contribution of these vital resources compares to other parts of the economy. It turns out the financial value of nature is huge, [...]
London’s housing market heats up with 25,000 new properties for sale in September October 8, 2015 London's housing market is hotting up again after a quiet summer, with 25,000 new properties listed for sale in September. The housing market traditionally picks up in the autumn, and there was 27.1 per cent increase in properties for sale in London between August and September this year, despite the housing shortage. Only [...]
Global rents for high-end homes at slowest rate of growth since 2010 October 8, 2015 Global rents for high-end homes grew at their slowest rate in more than five years in the second quarter, research out yesterday claimed. Knight Frank’s index of prime residential rents rose by 0.2 per cent in the year to June, down from 3.2 per cent two years earlier and marking the slowest rate of [...]
Economists urge Bank of England to postpone interest rate rise October 8, 2015 City A.M.’s panel of economists urged the UK’s rate-setters to keep interest rates at their record low of 0.5 per cent this month, as the global economy slows and inflation remains well below its two per cent target. Professor Steve Keen, head of the school of economics, history and politics at London’s Kingston University, [...]
Hays share price drops as weak euro and Australian dollar hit profit October 8, 2015 A positive boost from the UK’s strong jobs market was not enough to offset the negative impact of a weak euro for recruiter Hays, it said this morning, pushing its share price down 6.7 per cent. The FTSE 250 professional recruiter reported profit growth of three per cent in the three months ending 30 September, compared with the same [...]