In pictures: Stunning images show the hidden world of workers at the front line of Britain’s night-time economy January 28, 2015 When Dolly Parton sang about the drudgery of Nine to Five, she probably hadn't taken into consideration that things could be much worse. While most of us spend our days slaving away at our desks, an estimated seven million people clock on at 6pm and work through the night. What does this "hidden" economy look [...]
Low interest rates and less tax to fuel home demand January 27, 2015 The mortgage market saw a slowdown at the end of 2014 but is expected to stage a rebound this year. The number of house purchase approvals was nine per cent higher in 2014 compared to 2013, according to figures released yesterday by the British Bankers’ Association (BBA). However, the value of mortgages for house purchase [...]
Strong US dollar hurts sales at consumer giant January 27, 2015 THE SURGING strength of the US dollar has taken its toll on Procter and Gamble (P&G) with revenue falling four per cent to $20.2bn (£13.3bn) in the three months ending 31 December, compared to the year before. The decline in revenue saw the company suffer a 31 per cent fall in net earnings to $2.3bn [...]
Danish interest rates cut to -0.35 per cent to fight the falling euro January 22, 2015 DENMARK’S central bank cut its deposit rate for the second time this week yesterday in a bid to maintain the country’s long-held peg with the euro. The rate was cut by another 0.15 percentage points to a record minus 0.35 per cent. Money printing in the Eurozone pushed the euro down sharply, threatening Denmark’s target [...]
Denmark slashes interest rate for the second time this week January 22, 2015 Denmark's central bank has cut its main interest rate for the second time this week, The Danmarks Nationalbank aid it has taken its main deposit rate to -0.35 per cent from -0.2 per cent,
Forex probe could stop Bank of England access to market data January 21, 2015 The Bank of England risks losing access to vital sources of market data thanks to banks cracking down on traders gossiping, Lord Grabiner warned yesterday. Top barrister Grabiner was hired to investigate what Bank of England staff might have known about foreign exchange manipulation. He found an informal relationship between Bank officials and traders, with [...]
Bank of England steps back from interest rate hike as inflation falls January 21, 2015 INTEREST rates are set to stay lower for longer, as senior policymakers at the Bank of England unanimously decided to keep rates on hold, the minutes of this month’s meeting showed yesterday. Slowing growth in the Eurozone combined with falling inflation in the UK is pushing a prospective rate hike further into the future. Previously, two members [...]
Eni’s chief executive Claudio Descalzi warns oil could jump to $200 January 21, 2015 Italian oil firm Eni has warned oil could jump to $200 per barrel within the next decade if the Organisation of Petroleum Exporting Countries (OPEC) fails to cut production. Slumping oil prices are leading to under-investment in the oil industry, Claudio Descalzi, Eni's chief executive, said today at Davos. He said mismanagement by OPEC could prompt [...]
Bank of England minutes: Pound drops as MPC returns to agreement on interest rate rises January 21, 2015 The pound fell against both the euro and the dollar today, after Bank of England policymakers returned to agreement on the importance of keeping interest rates low. Minutes published this morning showed the Bank's monetary policy committee (MPC), which sets interest rates, voted unanimously against raising rates from their historic low of 0.5 per cent. [...]
German investors confident on economy despite hectic January January 20, 2015 INVESTOR sentiment in Germany has reached an 11-month high, new figures show. An indicator of economic sentiment jumped to 48.4 in January from 34.9 in December, according to figures released yesterday by German researchers Zew. The index now sits comfortably above its long-term average of 24.5. It has recovered from a 2014 trough of below [...]