Federal Reserve Chair Janet Yellen reiterates US on course to hike interest rates this year October 7, 2015 Federal Reserve chair Janet Yellen today reiterated that the US is on course to raise interest rates this year. Speaking a week after the Fed delayed a rise in borrowing costs, she said inflation is being weighed down by temporary factors such as a strong dollar and low oil prices. However as these decrease inflation [...]
IMF warns world economic outlook at risk from $18 trillion emerging market debt pile October 7, 2015 Global financial stability is “not yet assured”, the International Monetary Fund has warned, as it said emerging market debt had more than quadrupled over the last decade. The stark warning, from the director of the IMF’s Monetary and Capital Markets Department Jose Vinals, comes just a day after the IMF said the outlook for emerging [...]
Acton, Earls Court, Old Oak Common and Nine Elms: These are London’s next 10 housebuilding hotspots October 7, 2015 The capital's supply of homes for sale – both new-builds and people putting their previously-loved properties on the market – continues to be pathetically low. But as the government attempts to increase the number of homes being built in the capital, parts of London are about to experience mini housebuilding revolutions. Knight Frank's Global Development Report highlights the areas where the biggest [...]
Rocketing London house prices push up demand in commuter hubs including Bexley, Watford, Cambridge and Sutton October 7, 2015 The London borough of Bexley was the most in-demand location for house buyers in the UK in the three months to September, research published today by eMoov reveals, yet demand in the rest of the capital stagnated as soaring house prices pushed potential buyers into the commuter belt – a kind of ripple effect. Watford, [...]
Rocketing oil and gas production masks weak underlying trend in industrial production October 7, 2015 A surge in oil and gas output lifted industrial production to a four-year high in August, figures from the Office for National Statistics showed this morning – but economists have warned the underlying trends are still weak. Total industrial production, which is mostly manufacturing but also includes mining, quarrying and utilities, climbed 1.9 per cent on [...]
Volkswagen emissions scandal: Economist warns of potential “sizeable macroeconomic hit” October 7, 2015 The Volkswagen emissions cheating scandal could have a major impact on the German economy, according to new research. The country's car industry accounts for €380bn, or 20 per cent of all business revenues, according to the report from Dario Perkins, chief European economist at Lombard Street Research. German cars also make up almost a third all [...]
German industrial production suffers steep decline in August October 7, 2015 Industrial production in Germany, the Eurozone’s biggest economy, dropped at its fastest pace for a year in August, according to figures released this morning. Total production, which includes construction, manufacturing and mining, dipped 1.2 per cent in August compared with July, German statistical office Destatis said. The production of capital goods fell 2.1 per cent [...]
London’s economic growth: The capital leads the way as a wealth maker October 6, 2015 London’s economy is outstripping the rest of the country, growing 3.3 per cent year on year, compared with a national average of 2.5 per cent, according to RBS’ regional growth figures out today. London’s economic growth was boosted by its burgeoning professional, scientific and technical services industries. The City and the West End, unsurprisingly, were [...]
Oil prices edge back above the $50 per barrel mark October 6, 2015 Crude oil prices jumped above the $50 per barrel mark today, after a monthly energy report suggested supplies are set to fall in the UK and global markets. The US Energy Information Administration's short-term energy outlook said that oil demand from China and the emerging markets will grow, while non-OPEC supply stalls. Brent, the global benchmark [...]
Strong economy drives new car registrations to a record September October 6, 2015 In a sign of rude UK economic health, the number of new cars rolling out onto the country’s roads had its best ever September. Last month 462,517 new cars were registered, a climb of 8.6 per cent year-on-year, according to the figures released by the Society of Motor Manufacturers and Traders (SMMT) this morning. Strong [...]