As Trump prepares to dump the TPP Pacific free trade deal, is globalisation going into reverse? November 22, 2016 Dr Madsen Pirie, founder and president of the Adam Smith Institute, says Yes. It looks very much as if globalisation has reached its high water mark and may be slipping back. Donald Trump's pledge to pull out of the Trans-Pacific Partnership deal comes hot on the heels of the declaration by many involved that the [...]
Brent crude oil price dips after eyeing $50 a barrel and West Texas Intermediate crude also slides November 22, 2016 The benchmark oil price pared back earlier gains today, after edging close to $50 a barrel. Brent crude rose as high as $49.96 before losing around one per cent, or 51 cents, on the Monday’s close to reach $48.39 a barrel during early evening trading in London. West Texas Intermediate crude, the US benchmark, slid 1.7 [...]
Uranium prices set to “explode” in 2018, according to Berkeley Energia executive November 22, 2016 Uranium prices are set to "explode" in two years as demand from Western utilities and China will give the heavy metal a major uplift, according to a London-listed mining executive. Spot uranium prices, currently trading at around $18.50 a pound, could be set to almost triple in 2018, Paul Atherley, managing director of Spain-based uranium miner [...]
Consumer confidence rises in Eurozone in November, beating the wider European Union November 22, 2016 Eurozone consumer confidence has improved sharply in November, shrugging off any aftermath from the UK’s decision to vote to leave the European Union to beat forecasts. The indicator improved by 1.9 points to -6.1, according to the European Commission. This is well above the long-term average below -12, and above forecasts which had predicted confidence [...]
The Trump effect pushes the Dow above 19,000 in New York November 22, 2016 The Dow Jones Industrial Average has broken 19,000 points for the first time ever in New York. A US equity market surge since the presidential election – bolstered by the rising oil price as Opec member countries meet in Vienna – is showing no signs of slowing just yet. The rally has pushed the three major equity benchmarks [...]
The growth of electric vehicles won’t make much impact on the global demand for oil November 22, 2016 Chevy is about to release its all-electric Bolt. Tesla will soon put its Model 3 on sale. More than a dozen additional EV models will be launched in the next few years. Battery costs are falling fast, making EVs close to becoming cost-competitive with the internal combustion engine. Yet, oil demand will continue to rise, [...]
Public sector borrowing: These five charts tell us everything we need to know about the state of the UK’s finances November 22, 2016 Chancellor Philip Hammond got a pleasant surprise from the Office for National Statistics today, after figures showed the UK's public borrowing has actually fallen. But it's likely this is a temporary respite for the UK's borrowing, which is expected to rise this year. These five charts put today's borrowing figures in perspective: Read more: The [...]
Manufacturers did better than expected in November, despite Brexit fears November 22, 2016 Manufacturers have posted their best month for orders since before the UK's vote to quit the European Union, beating economist expectations, and confounding Brexit slowdown fears. Optimism for coming months also increased with expectations for production over the next quarter reaching their highest level since February 2015. For November, manufacturing order books improved but export order books and output [...]
Every little helps: Government borrowing fell by £5.6bn in October November 22, 2016 Good news for Philip Hammond ahead of tomorrow's Autumn Statement: government borrowing fell £5.6bn in October, official figures showed today – putting the UK's total borrowing at £48.6bn in the year to the end of October. Excluding public sector banks, the figure fell £1.6bn to £4.8bn, figures from the Office for National Statistics showed. The [...]
Oil price rally pushes stocks up around the world as US indices hit multiple record highs November 22, 2016 The continuing rally in oil prices led stocks around the world higher as a succession US indices hit all-time record highs at the close. Oil prices are rising on expectations that oil production cartel Opec will cut production at the end of the month. It meets on 30 November. The US oil benchmark, West Texas [...]