Brent crude oil drops below $51 per barrel for the first time since January August 3, 2015 The price of Brent crude dipped as much as 3.4 per cent in afternoon trading to $50.43 per barrel, its lowest since the January this year, as the commodities crisis continued to weigh on the market. The news drove the rouble down 1.67 per cent against the dollar, to $0.01593. Russia's economy is heavily dependent [...]
Greek shares plummet as the Athens Stock Exchange reopens August 3, 2015 Greece's main stock index continued to haemorrhage today after the cash-strapped country's markets were opened for the first time in five weeks. By this afternoon the Athens Stock Exchange had recovered slightly from the earlier sell-off and was down 16.3 per cent at 667.46 points. It posted its worst ever one-day performance after only a few minutes of trading this [...]
UK manufacturing growth ticks up in July August 3, 2015 The widely watched Markit/CIPS manufacturing purchasing managers' index (PMI) rose to 51.9 in July, ahead of the previous month's reading of 51.4, and above the crucial 50 mark which indicates growth. But it remained well below the average of 54.3 recorded since April 2013, when the UK economy was beginning to bounce back from the [...]
Purchasing Managers’ Index: Eurozone manufacturers shrug off Greek debt crisis in July August 3, 2015 The Eurozone's manufacturing sector continued to grow modestly in July, suggesting any effect from the Greek debt crisis remained limited. Markit's Eurozone manufacturing PMI hit 52.4 in July, ahead of the earlier flash estimate of 52.2, and also above the crucial 50 mark which indicates growth. This also meant it managed to hold close to June's [...]
Commodity prices hit corporate spending – global capex down at least 10per cent dragged by sliding energy and mining sector August 3, 2015 The long slide of commodities prices is taking its toll on corporate spending, it seems: global expenditure is predicted to shrink by at least 10 per cent this year, according to new research from rating agency Standard & Poor's (S&P). Spending is expected to continue falling well into next year, according to S&P’s forecast, before [...]
Bank of England hawks to vote for interest rate hike on Super Thursday August 2, 2015 The Bank of England will for the first time release a string of reports alongside its monthly monetary policy decision this week. And at least two hawks are expected to break rank and vote in favour of an interest rate hike. The so-called Super Thursday meeting will see the central bank publish its monthly decision [...]
UK immigration: Jump in accountancy and finance skilled non-EU workers as recruiters warn on visa rules August 2, 2015 There has been a sharp rise in the number of non-European Union finance professionals coming to the UK, new figures show this morning, highlighting the importance of firms’ access to skilled non-EU workers. The number of accountancy and finance professionals who entered the UK in 2014 climbed to 3,204, according to data from the [...]
Research reveals London’s lead as Europe’s top financial centre August 2, 2015 London was top of the pile of Europe’s biggest financial centres during the first three months of the year, with new research shedding light on the City’s contribution to the UK economy. The London Stock Exchange accounted for 28 per cent of total funds raised in Europe during the three months to March, according to [...]
Seven-year decline in lending to businesses set to end this year, says EY Item Club August 2, 2015 Business lending will grow for the first time since 2008, a group of economic forecasters said today. Banks lent £103.4bn to UK businesses in the first half of 2015 compared with £88.6bn in the first half of 2014. This trend is expected to continue throughout the rest of the year, according to the EY Item [...]
Small businesses growing amid underwhelming export figures August 2, 2015 Small-and medium-sized manufacturers saw growth in the three months to July, despite a dramatic fall in export prices, according to a new survey out today. According to the latest Confederation of British Industry (CBI) SME trends survey, companies reported steady growth in domestic orders, a rise in output in line with expectations and a slight [...]