Japan just joined Britain in the “noflation” club March 27, 2015 Core consumer inflation in Japan stalled in February, meaning it has joined now Britain in the "noflation" club. The government said that its key inflation gauge, which strips out the effect of last year's sales tax hike, was flat from a year earlier. This means it has moved further away from the Bank of Japan's target [...]
Housing shortage hits first-time buyers despite government help March 26, 2015 The UK’s chronic housing shortage is forcing first-time buyers to accept lower quality properties. Natural light was cited as not being vital by 51 per cent of prospective buyers, survey figures released today by estate agents Your Move and Reeds Rains show. Additionally, 63 per cent would go without a bath while 11 per cent [...]
This map shows why airstrikes in Yemen are pushing up oil prices March 26, 2015 Yemen doesn't actually produce that much oil compared to some other Middle East nations. But news that it been hit by air strikes from Saudi Arabia and its Gulf allies sent global oil prices berserk today. Nervous investors helped push Brent crude, the global benchmark, as high as $59.78 per barrel, or a two-and-a-half week high. But [...]
These are the four biggest threats to financial stability, according to the Bank of England March 26, 2015 The financial policy committee (FPC) which looks after financial stability over at the Bank of England, has outlined the areas it intends to keep a closer eye on in its quarterly assessment released today. 1. Geopolitical turmoil Eurozone turmoil could pose a threat to future financial stability. There have been some encouraging signs recently but [...]
Retail sales rise as shoppers reap “noflation” in February March 26, 2015 Retail sales beat expectations as low prices encouraged people onto high streets across the country in February, figures out today show. Sales on the high street rose 5.7 per cent annually according the Office for National Statistics. It marked the 23rd consecutive month of year-on-year growth, the longest winning-streak since May 2008. Retail sales grew 0.7 [...]
Bank of England shouldn’t cut rates over deflation – Monetary Policy Committee member David Miles March 25, 2015 Bank of England Monetary Policy Committee member David Miles has sought to quash fears over deflation, saying any foray into negative territory would be short-lived and shouldn’t lead to rate cuts. Speaking in an interview with the Financial Times, Miles, one of the more dovish members of the MPC, said that he expected the rate of [...]
US magnate warns oil prices could hit $100 by the end of 2016 March 25, 2015 Oil prices could return to as much as $100 a barrel by the end of next year, a US oil magnate warned yesterday. "I think you could very well be at $100 a barrel by the end of 2016," Boone Pickens, chair of the hedge fund BP Capital, said during a speech at the Commonwealth Club [...]
Eurozone economies pick up just as Asian giants start a slowdown March 24, 2015 Global economic growth showed signs of shifting in March, as influential surveys indicated that the troubled Eurozone is starting to recover, but manufacturing activity falling in China. Even the stagnant French economy racked up a second consecutive month of growth, according to the study from Markit. Its purchasing managers’ index (PMI) recorded a score of [...]
London house prices on the up after six months of flatlining March 24, 2015 London’s house prices are picking up again after stalling since August, official data showed yesterday. The average home in the capital cost £510,000 in January – up 1.6 per cent from £502,000 in December, and back up towards the £514,000 peak seen in August 2014. Nationally, prices rose £1,000 to an average of £273,000. Over [...]
Why drug-resistant superbugs could wipe 6pc off the world economy by 2050 March 24, 2015 Tackling antibiotic resistance could become one of the biggest struggles of our time, according to new research by the UK All Party Parliamentary Group on Global Tuberculosis (APPG TB). An overuse and misuse of antimicrobials has allowed some of the planet's deadliest diseases to start winning the battle against man-made drugs, and the situation is [...]