Gold prices ended February higher, but private investor demand fell March 7, 2017 Gold prices ended February 8.3 per cent higher for the year so far, but private investor demand for the yellow metal eased from its strongest January in five years. The number of gold buyers on BullionVault, a leading online platform, fell by a fifth in February to the lowest level in just over a year. The number [...]
London IPO, New York or sale? Technology giant Misys said to be keeping its options open after last year’s pulled UK float March 7, 2017 Technology giant Misys could be sold rather than try for another initial public offering (IPO) after last year’s pulled London float, sources have said. The private equity owner of Misys is understood to be keeping its options open for exiting the technology company, with a listing in New York also being explored. Read more: Fears [...]
Payments company Paysafe share price drops despite nearly doubling profits March 7, 2017 The figures Payments processing company, Paysafe, saw its share price plummet 6 per cent lower this morning despite delivering a strong set of results and nearly doubling profits compared to last year. The company reported in its 2016 financial results today that it has nearly doubled adjusted profits after tax, achieving $213m (£174.6m) for the [...]
Big upward revision for UK growth this year from the OECD March 7, 2017 The UK economy will grow much faster this year than previously expected, according to an influential economics organisation, as it revised up forecasts it slashed after the Brexit vote. The Organisation for Economic Cooperation and Development (OECD) raised its projections for 2017 GDP growth to 1.6 per cent, a change of 0.6 percentage points since [...]
Sterling falls to lowest since before Theresa May’s Brexit speech as Lords vote looms March 7, 2017 Sterling fell to its lowest value since mid-January ahead of the resumption of voting in the House of Lords on the government’s bill on Article 50. The pound fell below $1.22 against the US dollar on Tuesday morning for the first time since 17 January, when Prime Minister Theresa May announced the UK would leave [...]
Budget 2017 UK predictions: What you can expect from the chancellor’s Spring Budget March 7, 2017 It's that time of year again: the chancellor is getting set to dust off his little red box and deliver the Spring Budget. It's the last one we'll see at this time of year, as Philip Hammond decided to move the major announcements to an Autumn Statement schedule. It's likely to be a more staid [...]
There’s a dead simple reason for these record market highs March 7, 2017 As equity markets continue their extraordinary and interminable upward trajectory, it was wonderful last week to see the ever modest leader of the free world taking time off from bashing journalists, among others, to take some well-earned credit for stocks putting on $3.2 trillion in value. Given the fact that both the Dow and the [...]
The US and UK are failing to confront the long-term drivers of explosive debt growth March 7, 2017 The chancellor Philip Hammond will take to the despatch box tomorrow to deliver his Budget. The media will pore over the plethora of announcements made – fiddly tax changes here, growth forecast revisions there. But this short-term focus misses the real policy story of the post-crisis period. The political class is failing to address our [...]
It’s productivity, stupid: The chancellor must be bolder on the greatest threat to living standards March 7, 2017 Whenever a new Budget is in the offing, fiscal policy tends to take centre stage. But while an open and lively debate over the goals of fiscal policy in the coming year is to be welcomed, we should not forget about the economic problems that, lurking in the background, continue to afflict the country. In particular, [...]
Redirect £76bn from former EU budget to fuel inclusive growth says RSA commission March 7, 2017 The government should reroute billions of pounds that currently goes to the EU budget to support inclusive growth after Brexit, according to a commission set up by businesses, local government and non-profit groups. A new £76bn fund would deliver growth across the whole of the UK, lowering inequality and raising overall productivity, the report by [...]