Bank of England governor Mark Carney’s interest rate rise comments prompted a flurry of house buying in July August 27, 2015 Bank of England governor Mark Carney's suggestion that the rate decision will "likely come into sharper relief around the turn of this year" has prompted a flurry of homebuying, new figures suggest. Demand for houses rose 4.1 per cent in the year to July, and 5.3 per cent in the last month alone, according to [...]
UK net migration reaches record high – with EU migrants rising 40 per cent August 27, 2015 Net migration hit 330,000 in the 12 months ending March 2015, 94,000 more than the previous year – and the highest on record, official figures show. The figures, published by the Office for National Statistics (ONS) this morning, said net migration of EU citizens shot up 40 per cent to 183,000. A record 269,000 EU citizens [...]
US markets rise but FTSE 100 closes lower as China uncertainty continues August 27, 2015 After a tumultuous session of trading yesterday during which traders on both the S&P 500 and the Dow Jones showed optimism until mass selloffs in the the final minutes of trading, both indices opened higher today, with the S&P rising 1.3 per cent per cent in early trading, while the Dow rose 1.8 per cent. [...]
Better start for the FTSE 100 after Asia rally as Shanghai shares soar August 27, 2015 Are things finally calming down on the markets? The FTSE 100 opened almost two per cent higher, taking heart from a rally in Asia, where the Nikkei closed one per cent higher, the Hang Seng closed three per cent higher – and Chinese markets leaped, with the Shanghai Composite gaining more than five per cent [...]
WPP boss Sir Martin Sorrell shrugs off mounting fears over China’s economy August 27, 2015 WPP boss Sir Martin Sorrell yesterday admitted “everyone should be concerned” about the current state of the Chinese economy – but said he remained an “unabashed bull” over the long term. Speaking to City A.M., Sorrell said that although Asia Pacific is the company’s third largest market, WPP would not be changing its strategy [...]
Oil analysts predict price spikes for Brent crude as early as 2016 August 27, 2015 The price of oil cannot stay at its current sub-$50 levels beyond next year, energy analysts have warned. Due to a lack of growth in North American shale production and increased decline in mature fields, a Brent price as low as $50 per barrel is not sustainable beyond 2016, according to research from Rystad [...]
UK manufacturers to government: Green burden and environment legislation is out of control August 27, 2015 An overwhelming majority of British manufacturers want the government to scrap environmental legislation, according to a new report out today from the EEF. The report found that seven in 10 manufacturers said eliminating so-called “green” red tape is important to their business. Four in 10 said that the government had not done enough [...]
China’s economic crisis and the global market turmoil spooks central bankers August 27, 2015 Traders on red alert for a prolonged period of cheap money (Source: Getty) Global market turbulence is causing central bankers on both sides of the pond to shy away from any tightening of monetary conditions – putting traders on red alert for a prolonged period of cheap money. American rate-setter Bill Dudley [...]
US stocks rise sharply as investors recover from China panic August 26, 2015 US stocks surged upwards today, bringing an end to six consecutive days of declines. Read more: US markets rise but FTSE closes lower as China uncertainty continues At close, the S&P 500 was up 3.9 per cent, while the Dow Jones Industrial Average and Nasdaq ended the day 3.96 per cent higher and 4.24 per [...]
September interest rate hike looks “less compelling” in light of China slowdown, says Fed policymaker William Dudley August 26, 2015 A September interest rate rise by the Federal Reserve is now “less compelling”, according to William Dudley, President of the central bank's New York office. "From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks [...]