Draghi takes a tough line on the UK’s Brexit negotiations and says ECB will “assess the various options” on extending quantitative easing at its December meeting November 28, 2016 Europe’s most influential central banker has taken a tough stance against the United Kingdom ahead of it beginning the process of leaving the European Union, while calling for the UK government to lay out its objectives "as soon as possible". European Central Bank president Mario Draghi made it clear he thought Europe should not weaken [...]
The surprise London areas where disposable income’s rising fastest November 28, 2016 Did someone say gentrification? Any resident of south London knows the area's on the rise, but now new figures reveal just how much that's happening: disposable incomes in some of the hottest areas south of the Thames are rising more than 10 times faster than the rest of the UK. Lewisham and Southwark experienced a 5.3 per cent rise in cash in [...]
Nooooo-el: Christmas pudding prices set to soar this year November 28, 2016 Don’t expect too many coins in your Christmas pudding this year. The likelihood is your chef will be keeping their money to themselves after an increased outlay on the dessert. The price of Christmas puddings is likely to be ramped up as a result of rising raisin, sugar, butter and wheat prices. Overall, the costs of [...]
The OECD becomes the latest in a long line of forecasters to downgrade UK GDP growth prospects after EU referendum November 28, 2016 UK growth will fall sharply in 2017 as uncertainty following the vote to leave the European Union weighs on Britain’s prospects, according to an influential intergovernmental trade group. Real GDP growth will decline from two per cent for this year to 1.2 per cent in 2017 and one per cent in 2018, according to the Economic [...]
Major banks’ shares fall as investors prepare for Bank of England stress tests November 28, 2016 Banks' shares were among the biggest fallers in the FTSE 100 this morning as investors brace themselves for the Bank of England's stress test results later this week. At time of writing: Shares in Royal Bank of Scotland are down 2.1 per cent at 197.3p, Barclays is down 1 per cent at 213.3p, Lloyds Banking Group is [...]
The FTSE fell sharply at the open as bank stocks slid and Opec spooked oil markets November 28, 2016 The FTSE 100 is recovering slightly after posting a sharp fall at the open on Monday, as oil and bank stocks weighed on the index. The Bank of England is set to announce the results of its stress tests for UK banks on Wednesday. The stress tests investigate how the banks would fare in a [...]
The dollar has continued to weaken from 13-year highs to boost the yen and the euro November 28, 2016 A weakening dollar has fallen by over one per cent against the yen in early trading on Monday. The dollar had traded at its highest level since the Iraq war last week on the back of the so-called “Trumpflation” trade. The dollar index against a basket of currencies fallen by more than 0.6 per cent [...]
The London mayor’s ploughed £2.5m into startups since Brexit November 28, 2016 The Mayor of London has ploughed more than £2.5m into the capital's soon-to-be star startups since the vote for Brexit in a bid to show the world the city's "open for business", as he unveiled a new line up of advisors drawn from the UK's ranks of top entrepreneurs and business leaders. Sadiq Khan hailed the London Co-investment [...]
Mongolian property developer aims for London float November 28, 2016 A Mongolian property developer is plotting a flotation on the London Stock Exchange’s junior market. Asia Pacific Investment Partners this morning announced its intention to float on the Alternative Investment Market (Aim) next month. The group claims to be one of “a few Mongolian real estate developers able to effectively access both international and domestic [...]
The Confederation of British Industry says City firms are feeling the pinch, but we’re all still going down the pub November 28, 2016 Service sector profits have slumped in the UK in the last three months but declining sentiment among the sector’s business leaders is slowing. The Confederation of British Industry (CBI) said although morale among firms continued to drop, some sub-sectors were more positive. Hotels, bars and restaurants have been boosted consumer spending according to reports by [...]