Why the Rugby World Cup’s economic impact is nothing to get excited about September 18, 2015 The economic benefits of international sporting tournaments to national economies have been loudly trumpeted, not least by sporting bodies themselves. Whilst UK investors might witness some short-term movement in the markets following the Rugby World Cup, history suggests that the true lasting value on the UK economy is likely to be limited. Yes, the [...]
Switzerland, UK and the Netherlands among the world’s 10 most innovative countries September 18, 2015 Switzerland has been named the most innovative country in the world is for the second year in a row. It was followed by the United Kingdom (UK), Sweden, the Netherlands, and the United States of America (USA) as the world’s five most-innovative places on the planet, according to an index published by a United Nations [...]
Oktoberfest 2015 price hike: How much more beer at Munich festival costs this year September 18, 2015 The world's largest beer festival, Oktoberfest in Munich, kicks off for the 182nd time tomorrow. Unicredit analysts have crunched the numbers to find out how much more a Maß – the Bavarian word for a litre of beer that comes in one of those huge, dimpled glass mugs – will cost punters this year. One Maß costs about €10.2 (£7.48) compared [...]
Fed up markets down? It’s about funding not rates September 18, 2015 Global markets were sent into a tailspin yesterday after the Federal Reserve held fire on interest rates amid fresh concerns over the Chinese economy and emerging markets. But market mavens should be paying attention to funding, rather than interest rates. It’s frequently said and not always in jest, that the credit markets are smarter than the stock [...]
Chile earthquake 2015: 8.3 magnitude quake sends London copper up to two-month high September 18, 2015 The major earthquake that hit Chile late last night has caused copper to rise to a two-month high on the London Metal Exchange. Its benchmark value went up 1.1 per cent to $5,440.50 a tonne, following fears that the natural disaster would impact supplies from Chile, which is the world's biggest producer of the [...]
UK house prices are set to go through the roof, with the fastest growth in London September 18, 2015 House prices are growing at a robust pace this month while mortgage lending has surged as the housing markets heat up. Estate agent Knight Frank’s house price sentiment indicator today scored 59.3 for September, with scores above 50 indicating price growth. The fastest current growth is in London. Households’ overall expectations of [...]
Mind the skills gap: Talent shortage costs UK economy £10bn a year September 18, 2015 The economy is losing billions of pounds a year because firms cannot access the skills they need, one of the country’s top economists has warned. There are currently 170,000 more unfilled job vacancies compared with the average for the 2001-14 period, PwC senior economic adviser Andrew Sentance writes in City A.M. today – a [...]
UK insurance sector shakeup puts spotlight on Association of British Insurers September 18, 2015 Britain's insurance market has undergone massive changes over the past year, and a series of megadeals recently taking place in the sector is just one sign of how companies are scrambling to protect themselves against new policies impacting the industry. Chancellor George Osborne famously shook up the market with his 2014 Budget, when he [...]
Federal Reserve puts US interest rate rise on hold: Global risks trigger Fed chair Janet Yellen’s dovebomb September 18, 2015 The Federal Reserve left interest rates unchanged last night, sending markets on a roller coaster ride as investors struggled to understand the economic factors behind the dovish decision. Trading was turbulent after the Fed announced its decision to hold rates, with the three major US indices first hitting session highs, and briefly turning negative [...]
How the world reacted to the Federal Reserve interest rate decision: Emerging markets soar and US stocks whip about on Fed’s decision not to hike rates September 17, 2015 Emerging markets took off after the Federal Reserve’s decision to hold interest rates steady at a historic low – but the dollar swooped on the news. Blaming a shaky global economy, the Fed’s Federal Open Market Committee voted to hold its fire on a US rate hike, leaving interest rates at the zero to a [...]