Eni chief exec Claudio Descalzi says Saudi Arabia has lost control of prices April 20, 2015 Eni's chief executive Claudio Descalzi has previously warned under-investment could lead oil prices to hit $200 per barrel – now he's back with another ominous forecast for the world's tumultuous oil market. Speaking to the Financial Times, Descalzi said the Organization of the Petroleum Exporting Countries (Opec) was neither willing nor able to control oil prices. Since the 1980s Opec, [...]
Greek debt deadline: Mario Draghi urges Greece to hurry as default looms April 20, 2015 European Central Bank chief Mario Draghi has said the Greek government needs to do more work and do it urgently to conclude a deal on extra bailout cash. “More work, much more work is needed now and it’s urgent,” he said at the International Monetary Fund (IMF)-World Bank spring meetings in Washington. “We all want [...]
City recruiter Morgan McKinley records big jump in job openings April 19, 2015 The second quarter will see a robust jobs market in the City, according to a new report out today. The number of job openings in financial services in London increased by 19 per cent in the past month, according to recruiter Morgan McKinley’s latest London employment monitor. The jump in job openings coincided with virtually [...]
UK benefits from $429bn global boom in real estate investment April 19, 2015 Money is flooding into global real estate with new capital targeting the commercial sector reaching a record $429bn (£287bn) in 2015, according to a DTZ report. The Americas are fuelling the boom, with a 12 per cent increase in capital flowing into the western hemisphere totalling $166bn of which $145bn is earmarked for the US. [...]
London house prices: Capital homes increasingly unaffordable April 19, 2015 Homes in London have become drastically less affordable under the current government, according to a new report published today. A consumer’s capacity to buy a home in the capital is now 77 per cent worse than it was in 2010, according to the latest Ability to Buy index from the estate agent Hamptons International. London [...]
Asking prices reach record highs in London’s property market April 19, 2015 The price of homes coming to market in London has reached an all-time high, according to new figures released today. The average asking price in the capital is now £594,585, up nearly seven per cent from this time last year and almost 50 per cent over the last five years, according to the property website [...]
Money in your pocket? Here’s where the main parties stand on income tax April 19, 2015 The contents of voters’ pockets has always been a key motivating factor when it comes to deciding which party to place a cross next to. Few things encapsulate this kind of consumer politics more than the rate of income tax. The coalition has made great play of taking the lowest paid out of income tax [...]
ECB President Mario Draghi warns Greek bailout deal is “urgent” April 19, 2015 European Central Bank (ECB) president Mario Draghi has warned the negotiations around Greece's €240bn (£181bn) bailout program are "urgent" and a default by the cash-strapped country would push the region into "uncharted territory". "Much more work is needed now, and it's urgent," he said at the International Monetary Fund – World Bank spring meeting in Washington. [...]
UK house prices hit new high, but growth slows to its lowest for 16 months as London feels the effects of stamp duty changes and mansion tax fears April 17, 2015 UK house price growth is at its slowest since 2013, despite the cost of buying a house hitting record highs. The capital was particularly affected, as changes in stamp duty and fears of a mansion tax hit sales. The figures According to figures from LSL property Services, March 2015 had the smallest annual rise in [...]
UK employment rate hit record high of 73.4 per cent in February April 17, 2015 Britain's employment rate has risen to its highest level since comparable records began around 44 years ago, which could provide a boost to the Tories and Lib Dems as they gear up for the General Election. The final jobs and earnings before the election, released today by the Office for National Statistics, showed the number of people [...]