Federal Reserve’s US interest rates decision sets alarm bells ringing over global debt timebomb September 13, 2015 Global debt levels have hit dangerous heights, a top financial group has warned, leaving many countries vulnerable to a US rate hike which could come as early as this week. Recent swings in global stock markets are reflective of deep underlying problems in the global economy, the Bank of International Settlements (BIS) said yesterday. [...]
UK firms suffer a widespread dip in growth September 13, 2015 The UK economy looks to have cooled off over summer with new survey data showing businesses growing at their slowest for two years in August. The figures will add to concerns over the economy’s growth which were fed by a slew of negative data last week. Lloyds Bank’s purchasing managers’ index fell to a score [...]
Deloitte: UK savers must find extra £10k each year September 13, 2015 British savers will have to find an additional £10,000 each year from now until they retire if the nation is to close the growing so-called “savings gap” between incomes and retirement needs, according to a new report from Deloitte. The firm forecasts that the savings gap could hit £350bn by 2050 – almost £32bn more [...]
Bank of England governor Mark Carney wants an EU referendum sooner rather than later September 13, 2015 Bank of England governor Mark Carney has said he wants the Conservative government to hold an early referendum on Britain's membership to the European Union. Carney said that the planned vote on EU membership should be held "as soon as necessary" in an interview on BBC Radio 4 this morning. He stressed the importance of [...]
US rate hike? Wall Street analysts divided over Federal Reserve’s upcoming interest rate decision September 13, 2015 As the Federal Reserve’s pivotal decision on US interest rates looms closers, Wall Street analysts remain divided on the likely outcome. To hike or not to hike? The Fed’s big decision is coming up quick, with the interest rate-setting meeting just days away, and a Bloomberg survey of analysts showed that half are expecting a [...]
Pay to return to pre-crisis levels in 2017, think tank predicts, but warns of inflation rise risk September 13, 2015 Pay will return to pre-crisis levels by 2017 if economic trends continue, a think tank predicts, however rising inflation could push that off-course. The latest research by the Resolution Foundation predicts that average weekly earnings grew by between 2.7 per cent and 2.8 per cent in the three months to July, in line with the [...]
Interest rates must rise “relatively soon” says Bank of England’s Martin Weale September 13, 2015 Interest rates will need to rise "relatively soon", Bank of England rate setter Martin Weale has said. The hawkish member of the BoE's monetary policy committee (MPC) has said inflation is likely to rise above the central bank's two per cent inflation target "in two to three years' time", which needs to be reflected in policy [...]
Rental properties in Scotland’s university cities named best for buy-to-let investors September 12, 2015 Scottish university cities offer the best chance of profit for buy-to-let investors in the UK, according to new research. Read more: Scotland's house price growth at its highest since 2007 Edinburgh offers the best average rental yield in the country at 6.11 per cent, according to a study put together by property website Zoopla, while Aberdeen, [...]
Number of Britons expecting Bank of England to raise interest rates climbs to four-year high September 11, 2015 More Britons are expecting interest rates to rise soon than anytime since 2011. Yesterday’s interest rate news was its usual less-than-exciting event, as the Bank of England held interest rates steady at 0.5 per cent for the 77th consecutive month. But change is closing in, as the Bank of England’s Quarterly Survey shows that the [...]
Oil price could drop to $20 a barrel, Goldman Sachs warns September 11, 2015 Oil prices could fall as low as $20 a barrel as weak fundamentals and wider concerns about the global economy push prices down even further, Goldman Sachs has warned. In a note sent out this morning, the analysts highlighted that the price of West Texas Intermediate (WTI) crude oil had fallen to its previously-forecast [...]