Greek crisis: European markets dip ahead of meeting between Alexis Tsipras and Angela Merkel March 23, 2015 Germany's Dax lead European markets down, falling 0.93 per cent as Chancellor Angela Merkel prepared to thrash out a deal with Greek Prime Minister Alexis Tsipras this afternoon. France's Cac 40 fell 0.56 per cent, while the FTSE 100 – which on Friday hit 7,000 points for the first time – fell back 0.27 per [...]
Brexit could cost UK 2.2 per cent of GDP without radical free market reform and liberal immigration policy March 23, 2015 Britain's economy could take a hit of up to 2.2 per cent of GDP – or £56bn – by 2030 if it leaves the EU, according to a new report from think tank Open Europe. The report argues that in the worst case scenario, the negative effects of Brexit would not wholly be offset by [...]
Confederation of British Industry warns politicians: Don’t let election halt UK growth March 23, 2015 Britain’s biggest business group will this morning warn politicians against allowing post-election uncertainty to derail the country’s impressive economic growth. The UK is facing the tightest General Election in decades on 7 May, with many polls showing no party in line for a clear majority. And even if a coalition needs to be formed, the [...]
Variable mortgage deals rise as interest rate hike prospect wanes March 23, 2015 The fading prospect of an imminent interest rate hike prompted more mortgage borrowers to opt for variable rates during February than any month since November 2012, data from a mortgage broker today showed. One in 10 homebuyers and remortgaging homeowners chose variable rates in February, up from 8.6 per cent in January and the highest [...]
London rent price growth stalls as regions outpace the capital March 23, 2015 London rental growth is being outpaced by the regions after prices in the capital stalled in the three months to February, according to a survey out today. HomeLet’s Rental Index found that rent prices rose across seven of the 12 UK regions, with the north east and south west of England leading the way with [...]
Household debt to hit £10,000: Borrowers more exposed to hike in interest rates March 23, 2015 British borrowers are more vulnerable to an interest rate rise than ever before after new figures showed unsecured household borrowings hit an all-time high last year. Unsecured debt rose nine per cent in 2014 to a record £239bn in cash terms, or £9,000 per household, driven by an increase in student loans and credit card [...]
Grexit: Spain ups the ante, saying no EU handouts for cash-strapped Greece until reforms are implemented March 22, 2015 If Greece was expecting an easy run in after last week’s summit, it can think again. Spain’s government has made it clear it expects Athens to put forward a comprehensive list of reforms and then ensure they are carried out, before it receives vital EU cash to help its floundering economy. Speaking in an interview [...]
Budget 2015: Gordon Brown beats George Osborne on job approval rating March 20, 2015 Now the dust has settled; the pollsters are digesting the public's reaction to Osborne's Budget and how they rate the chancellor. The good news for Osborne is that YouGov found for the first time since 2010 that more people approve if his job performance than disapprove. However, the chancellor of five years still failed to [...]
Greece will get EU funds after positive summit – Tsipras March 20, 2015 There could be light at the end of the tunnel for Greece after talks in Brussels ended with Prime Minsiter Alexis Tsipras calling the summit "positive". Greece, he said, can now proceed with talks to get EU funding as soon as possible. That funding will be forthcoming only if the country's creditors agree with the [...]
EU backtracking on ISDS: Most controversial part of TTIP could be scrapped March 20, 2015 The EU may scrap the most controversial part of the Transatlantic Trade and Investment Partnership (TTIP). EU trade commissioner, Cecilia Malmstrom, has voiced her support for replacing the Investor-State Dispute Settlement (ISDS) with a permanent investment court. The ISDS is a mechanism that sets the ground rules for foreign companies investing in other countries. It [...]