How to make London more affordable for new grads September 16, 2015 London is in the midst of a housing crisis, and the UK's poorest graduates are bearing the brunt of this, however ramping up the number of innovate housing schemes for young people could help alleviate this. Less than six per cent of new graduates who move to London come from the most disadvantaged 20 per cent of [...]
OECD: China slump clouds global economic growth outlook September 16, 2015 A slowdown in China poses a significant threat to the world economy – especially if financial market conditions continue to deteriorate this year – the Organisation for Economic Cooperation and Development (OECD) said this morning. China’s economy is expected to grow 6.7 per cent this year and 6.5 per cent in 2016, representing a slowdown from [...]
The UK will soon run out of diesel and become reliant on foreign markets, warns RAC Foundation September 16, 2015 The UK will soon be unable to produce enough diesel to satisfy domestic demand, according to the RAC Foundation, putting it at risk of becoming completely dependant on foreign markets. In its latest report, the motoring research group said the number of diesel-run cars in Britain had increased from 1.6m in 1994 to 11m [...]
London is the top destination for overseas technology workers September 16, 2015 London is the most popular destination in Europe for technology jobs as the UK digital economy continues to grow. A new set of data from jobs site Indeed shows that 3.4 per cent of all overseas jobs searches are for London specifically, with the figure rising to 8.2 per cent for tech jobs. Nearly one-third [...]
Fed rate hike expectations: Cheap oil and strong dollar blot outlook for Federal Reserve interest rates decision September 16, 2015 Clouds are gathering over the US economy as the release of bearish data spooks investors ahead of tomorrow’s highly anticipated Federal Reserve interest rate decision. Manufacturing output contracted by 0.5 per cent in August, according to Federal Reserve data released yesterday – the sector’s biggest output decline since January 2014. Industrial production, which includes [...]
Eurozone in fine fettle but China dents sentiment September 15, 2015 Evidence that the Eurozone is recovering strongly after years of economic stagnation is piling up. However, investors are on the cautious side in case events in developing economies throw the recovery off track. Eurozone goods exports to the rest of the world grew strongly in July, reaching €185.2bn (£136.9bn), according to figures released yesterday by [...]
Bank of England quarterly bulletin says that cash isn’t dead just yet September 15, 2015 Reports of the death of cash have been greatly exaggerated, the Bank of England claims. Well, not perhaps greatly exaggerated, but certainly a little premature. "Over the next few years, consumers are likely to use cash for a smaller proportion of the payments they make," Tom Fish and Roy Whymark of the Bank’s notes directorate said in [...]
“We write what we want”: OBR chief Robert Chote reappointed after playing down Treasury influence over summer Budget economic forecasts September 15, 2015 Robert Chote has been reappointed as chief of the Office for Budget Responsibility (OBR) following a grilling from MPs in which he fended off accusations that the watchdog had been influenced by the Treasury in its analysis of the summer Budget. However, the saga is not yet over as more evidence has been demanded from [...]
London and the South East push up UK house prices in July, but property gets cheaper in Scotland and the North East September 15, 2015 House prices climbed 0.8 per cent July, the Office for National Statistics said this morning, keeping annual house price growth above five per cent. Year-on-year price growth was 5.2 per cent, down from 5.7 per cent in June. The East, South East and London led UK’s annual price growth, while houses actually got cheaper in Scotland [...]
Abcam confident on China despite global fears of a chronic slowdown September 15, 2015 Biotech firm Abcam yesterday remained bullish on growth in China, despite concerns of a slowdown in the world’s second-largest economy. The Aim-listed firm, which makes and sells antibody-related products, delivered strong full-year results, with revenue up 14.2 per cent to £144m and pre-tax profit up 5.9 per cent to £46.1m. Growth was boosted by China, [...]