Miners come up gold for FTSE 100 as London rallies – London Report September 10, 2015 Asian market gains helped the FTSE to rally yesterday for a third straight session – also boosted by encouraging corporate news from mining companies and financial firms. The FTSE 100 index was up 1.4 per cent at 6,229.01 points at its close, still around 12.6 per cent off April’s record high, after uncertainty over China’s [...]
UK house prices: Growing gulf between supply and demand is heating up the property market September 10, 2015 House prices could rocket even faster than previously forecast, as research reveals that accelerating demand for homes is coming up against a brick wall of scant supply. Prices are set to climb six per cent this year, the Royal Institution of Chartered Surveyors (RICS) said today, doubling the estimate it made at the start [...]
George Osborne’s national living wage under attack September 10, 2015 The government's new national living wage (NLW) will offer little relief to workers, according to a new report by the Institute for Fiscal Studies (IFS). The IFS said any benefits for employees on the new minimum wage would barely offset the negative impact of other changes proposed by chancellor George Osborne to the tax [...]
European Commission President Jean-Claude Juncker wants the Eurozone to have its own Treasury September 9, 2015 European Commission President Jean-Claude Juncker thinks that the single currency area should have a common system of guaranteeing bank deposits, as well as its own treasury. "We are also in favour of introducing a European treasury… Obviously there will be a lot of work to be done on the content of it, but I think it [...]
Association of Graduate Recruiters: Record number of graduates are being hired September 9, 2015 Britain's graduate job market is booming, with record numbers being hired this year, according to an annual survey of the country's biggest recruiters. The association of graduate recruiters' (AGR) annual survey said that more university leavers are being hired than ever before, with a 13.2 per cent rise in graduate vacancies for 2014-15. Accounting and [...]
Apple share price drop following iPhone 6S launch and oil sees Wall St end down – New York Report September 9, 2015 US shares ended almost 1.5 per cent lower on yesterday, after rallying the day before, led by declines in Apple shares and in energy companies, which fell with oil prices. The Dow Jones industrial average fell 239.11 points, or 1.45 per cent, to 16,253.57, the S&P 500 lost 27.37 points, or 1.39 per cent, [...]
UK wage growth slows as unemployment rises again September 9, 2015 Sterling fell to a one month low against the euro after data showed Britain's bumper wage growth has slowed, as unemployment rose again. Annual average weekly wages, including bonuses, rose 2.4 per cent in the three months to June, according to data released today by the Office for National Statistics. That's down from the 3.2 per [...]
Saudi Arabia is still dominating Asia’s crude oil market September 9, 2015 Saudi Arabia continues to be a major force in Asia's oil market, new figures from the US Energy information Administration (EIA) show – despite plummeting prices. In the first half of 2015, the kingdom's market share of crude oil imports into other countries on the continent remained practically the same as last year. [...]
Bank of England appoints Gertjan Vlieghe to the Monetary Policy Committee September 9, 2015 The Bank of England (BoE) has appointed Gertjan Vlieghe for a three-year term on its nine-strong monetary policy committee (MPC) from 1 September. He will take over from external member David Miles, who is stepping down from the committee after its next meeting on the 6 August. Vlieghe is a partner and economist at Brevan [...]
Bank of England governor Mark Carney says China turmoil won’t affect interest rate decision September 9, 2015 Bank of England governor Mark Carney has said that the slowdown in China's economy won't affect the path of interest rates for now. "Developments in China are unlikely to change the process of rate increases," Carney told an audience at an annual US central banking conference in Jackson Hole, Wyoming. His comments come after "Black Monday" where renewed [...]