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 [...]
S&P takes rating actions on 14 oil companies – and Shell’s Ben van Beurden warns of oil prices “spiking” October 6, 2015 Standard & Poor’s said today it had taken rating actions on 14 European oil and gas companies, after revising its oil price forecast down. Oil producers are braced for a long slump in prices, after the ratings agency recently revised its forecast to predict that prices will stay low through the end of 2016. We [...]
Battersea Power Station dismantling work to restart in coming weeks October 6, 2015 Work to dismantle the remaining three of Battersea Power Station’s iconic chimneys will kick off in the coming weeks after the first of the chimneys to be rebuilt successfully reached half of its full height. The huge concrete towers were badly damaged by the coal smoke they emitted during the building’s working life and [...]
London business confidence dips amid rising wage costs, interest rates and Eurozone uncertainty October 6, 2015 London's businesses have reported a dip in confidence from the last quarter as they factor in rising employment costs, interest rate uncertainty and the political fall-out from Eurozone debates. The London Chamber of Commerce will release figures today showing the balance of companies that think the capital’s economic outlook will improve over the next [...]