Q&A: Why has the euro suddenly ended its expected decline? June 18, 2015 Q How far has the euro fallen? A If you were to buy a euro using dollars, you would only need about $1.14. In September last year you would have needed to pay $1.30. It marks a loss in value against the dollar of around 12 per cent. Yet for the last few months, the [...]
Greece faces a very European problem: Are woes fault of Eurozone designers as much as Greek policymakers? June 18, 2015 Greece's economy is a shadow of its former self. It once had thriving investment banks which attracted cash from all over the world and invested it predominantly in the Balkans, helping countries there to thrive after the collapse of the Soviet Union. These operations are no longer. Its economy produces 30 per cent less [...]
London and the south-east see record-breaking spike in rents June 18, 2015 Estate agents are urging housebuilders to look south, as the national average rent reaches its highest point since records began. Rents across the UK are now 4.5 per cent higher than a year ago, with London and the south-east rising faster than anywhere else, according to the latest Your Move and Reeds Rains Buy-to-Let [...]
Wind energy subsidies will end next April June 18, 2015 The government has moved forward the end date for onshore wind energy subsidies, it revealed yesterday. The Department of Energy and Climate Change will close the renewables obligation to new onshore wind generating stations from 1 April 2016. The Conservatives had pledged to stop the subsidies in their manifesto ahead of the General Election, however [...]
Westminster repairs could cost £5.7bn: With parliament’s palace falling apart, what are the options to save it? June 18, 2015 The Palace of Westminster is crumbling. According to leading architects, the UNESCO World Heritage site, which contains the House of Commons and the House of Lords, now suffers from “extensive” stonework decay, leaking roofs and corrosion – and that’s just the beginning. Dr Richard Ware, programme director for Palace of Westminster Restoration and Renewal, [...]
TaxPayers’ Alliance research puts full national debt at £8.6 trillion June 18, 2015 The UK’S national debt would stand at £8.6 trillion if it were to include all of the government’s liabilities, according to new research from the TaxPayers’ Alliance (TPA). The group has today issued a report calling on the government to report the “real” national debt by changing the way it measures the figure. Read more: [...]
Switzerland maintains negative interest rates citing Greek concerns June 18, 2015 Negative interest rates and penalties for holding Swiss francs in cash will continue, the Swiss National Bank (SNB) said yesterday. Switzerland’s central bank is keeping the interest rate on sight deposits at minus 0.75 per cent, and leaving the target range for the three-month Libor unchanged at between minus 1.25 per cent and minus [...]
Nasdaq rises to record high on Fed interest rate hint June 18, 2015 The Nasdaq closed at a record high on Thursday, rising 68 points to 5,132.95. Read more: Nasdaq hits a record high as US stocks rise The 1.3 per cent rise was triggered by encouraging economic data released by the Federal Reserve yesterday which indicated interest rates could be raised for the first time since 2008 later [...]
Bank of England to launch new blog “Bank Underground” June 18, 2015 The old lady of Threadneedle street will lift up her skirt tomorrow with the launch of a new staff blog entitled "Bank Underground". The blog, named after the nearby tube station, will let Bank of England staff write editorials which support, as well as challenge, existing orthodoxies. Previously, Bank of England staff were limited to communicating with [...]
Expats beware: Working abroad could lose you money in the long run June 18, 2015 Moving abroad for work can be a very appealing prospect – there are higher salaries, lower tax rates and an undeniable sense of excitement. But doing so can often lead to financial losses down the line, according to financial advice firm AES International. They calculate that many of the 78,000 Britons leaving the [...]