Crisis in Calais takes its toll on Channel Tunnel trade: Disruption “having a severe effect on the UK economy” July 30, 2015 Business groups are putting pressure on the UK government to step up border security measures, claiming that the chaos in Calais is coming at a steep cost to the economy. For weeks, industrial strikes and action by migrants have disrupted services through the French port, holding up trucks on both sides of the English Channel. [...]
As David Cameron vows to crack down on corrupt foreigners buying London properties, can PM lift the shroud of secrecy? July 30, 2015 Prime Minister David Cameron grabbed headlines this week when he said: “There is no place for dirty money in Britain.” Vowing to remove a “shroud of secrecy” surrounding luxury London properties owned by offshore holding companies, the Prime Minister said in a speech in Singapore that the UK “must not become a safe haven for [...]
Clash over Greek debt set to hinder new bailout deal July 30, 2015 Greece’s debt crisis is set to flare up again, as the head of one of the country’s biggest creditors said there needs to be a substantial write-down of the country’s debt, a move inconsistent with EU treaties. “For any programme to fly, a significant debt restructuring should take place,” International Monetary Fund (IMF) chief Christine [...]
Dollar goes crazy following interest rate uncertainty from the Fed July 29, 2015 It has been a rollercoaster of an evening for the dollar, which first plummeted and then picked back up again as investors felt uncertain about how to react to the Fed's statement. Read more: The Federal Reserve keeps interest rates unchanged and gives no hint of when they will rise With no clear indication [...]
The Federal Reserve keeps interest rates unchanged and gives no hint of when they will rise July 29, 2015 In its statement this evening the Federal Reserve left interest rates unchanged and gave no clear indication of when they will rise. Read more: US interest rate hike: Are emerging markets in for a bumpy ride? Analysts were listening out for a possible hike before the next meeting of the Federal Open Market Committee [...]
Looks like we’re not going back to $50 Brent crude after oil prices rose following positive news on supplies July 29, 2015 The price of a barrel of Brent crude oil jumped 1.1 per cent to $53.94 in late afternoon trading after a report showed a surprise dip in US oil reserves. A report by the US Energy Information Administration showed oil stocks fell to 459.7m barrels in the week to Friday, down 4.2m barrels from the [...]
Bank of England’s Jon Cunliffe warns over impact of a US rate hike July 29, 2015 The Bank of England's deputy governor for financial stability has voiced concerns over how financial markets will react to an interest rate rise by the US Fed. Sir John Cunliffe told the Guardian that global financial markets are "quite fragile" due to a lack of liquidity which can make it more difficult for traders to exit some [...]
CBI distributive trades survey: Britain’s retailers are expecting a slow summer July 29, 2015 A widely watched industry survey has shown UK retailers expect sales volumes to weaken further next month, after an already disappointing performance in July. The CBI distributive trades survey said 30 per cent of firms expect sales volumes to rise in the year to August, while 17 per cent said they expect them to fall, [...]
Chair of the Federal Reserve Janet Yellen says rates will rise this year if economy remains on track causing dollar to jump July 29, 2015 The Federal Reserve has reiterated that it is on course to raise interest rates in 2015, as Chair of the Federal Reserve described the US economy’s prospects as “favourable”. Hiring has pushed the country towards maximum employment, while factors that have been holding back inflation were likely to diminish, Yellen indicated in a prepared statement [...]
Three charts showig how working in London differs to other cities July 29, 2015 A London working week is typically associated with long hours, heavy workloads as well as demanding clients, but a report released this week by Centre for Cities has shown there are some perks to working in the big smoke. Londoners are more likely to be in employment than their counterparts in large, medium and small city centres. [...]