Markets on red alert as Greeks dig in heels June 15, 2015 Greek Prime Minister Alexis Tsipras insists his government will stand its ground against proposals demanded by creditors, as markets across Europe slide further into the red. City analysts now see a default and Greek exit from the Eurozone as an increasingly likely outcome. “We will patiently wait for the institutions [to] adhere to realism,” Tsipras [...]
Frackers rejoice after council warms to shale as Cuadrilla’s Lancashire proposal wins backing June 15, 2015 Frackers yesterday welcomed planning officers’ backing of Cuadrilla’s shale gas proposal at a site in Lancashire, saying it shows that communities are starting to warm to the controversial energy extraction technique. Lancashire council planning officers recommended that the council should approve Cuadrilla’s fracking application at the Preston New Road site when a decision is [...]
Saudi Stock Exchange opens to foreign investment: Meet the biggest companies you’ve never heard of June 15, 2015 Saudi Arabia’s largest natural resource is oil. Yet there is one deep, very different well that remains still untapped: direct foreign investment in the Tadawul, better known as the Saudi Stock Exchange. With a market capitalisation of more than $560bn (£360bn) it is the final major capital market not yet open to direct foreign investment. [...]
Airbus and Boeing deals cleared for takeoff at Paris air show June 15, 2015 Aerospace giants Airbus and Boeing opened the Paris air show with a flurry of multi-billion-dollar plane deals yesterday, as hungry Asian and Middle Eastern carriers put in orders faster than the rivals can make them. Airbus said Garuda Indonesia had signed a letter of intent to buy 30 A350 XWB jets, worth $9bn (£5.8bn) at [...]
European Central Bank president Mario Draghi tells European Parliament ball lies “squarely” in Greece’s court June 15, 2015 European Central Bank chief Mario Draghi said today that the ball lies in Greece's court, during a testimony before the European Parliament's Economic and Monetary Affairs Committee, after talks stalled last night. "While all actors will now need to go the extra mile, the ball lies squarely in the camp of the Greek government to take [...]
S&P: Greek non-payment to ECB “wouldn’t mean default” June 15, 2015 If Greece fails to repay €6.7bn (£4.8bn) worth of bonds held by the European Central Bank (ECB) at the end of July, this will not constitute a default, at least under criteria from credit ratings agency Standard & Poor's (S&P). Read more: With no deal on the cards, would the Eurozone be able to contain contagion from Greek [...]
Russian central bank slashes key interest rate June 15, 2015 The Central Bank of Russia has slashed its main interest rate by one percentage point to 11.5 per cent, amid a strengthening currency and inflation risks. It's slowed the pace at which it was cutting rates – the central bank cut the main interest rate by two percentage points in January, one percentage point in March and [...]
Greek crisis: Tsipras says Greece is “waiting for realism” as European stocks get the jitters after failed eleventh-hour talks June 15, 2015 Greek Prime Minister Alexis Tsipras said today that the country will "patiently wait for [its lenders to] adhere to realism". Read more: Germany warns of Grexit with EU patience "running out" In an irate statement issued following last night's crunch talks, which collapsed after just 45 minutes, Tsipras said "one can only suspect political motives behind [...]
Biggest wage increase in nearly eight years expected June 15, 2015 Employment figures due out later this week are likely to show Britons enjoyed bumper pay cheques in April, according to the Resolution Foundation think tank, with wages rising at the fastest pace since October 2007. The think tank predicts that average weekly wages swelled between 2.5 per cent to 2.6 per cent year-on-year. When combined [...]
No end in sight for London house price boom: Average asking price soars to more than £600,000 June 15, 2015 House prices in the capital are set to outpace earnings for the foreseeable future, despite government efforts to boost house building and affordability. Average London asking prices have jumped to £613,922 – above £600,000 for the first time ever – according to Rightmove data published today. It marks a rise of 5.8 per cent compared [...]