Theresa May’s statism is the wrong way to build a more prosperous post-Brexit Britain October 12, 2016 Labour has lurched to the hard left and Ukip does not currently seem equipped to capture the significant number of voters on lower incomes who are worried about immigration and the impact of globalisation. So it is understandable that the Prime Minister is seeking to seize the coveted centre ground. For that purpose, Mrs May’s [...]
BoE deputy governor: London’s financial services firms could go to New York October 12, 2016 A top official at the Bank of England has warned New York could poach some of London's financial services firms if the UK does not secure a good Brexit deal. Jon Cunliffe, deputy governor with responsibility for financial stability, said while the threat from European financial hubs like Frankfurt, Paris or Amsterdam was unlikely to [...]
Oil prices fall after Opec points to bigger crude surplus in 2017 October 12, 2016 Oil prices turned lower this afternoon after the Organisation of Petroleum Exporting Countries (Opec) pointed to a larger surplus next year. Brent crude, the global benchmark, slumped 1.09 per cent to $51.84 per barrel. Its US counterpart, West Texas Intermediate crude, fell 1.32 per cent to $50.12, having recovered slightly after falling just below the $50 [...]
Sterling falls back after posting early morning gains October 12, 2016 The pound fell back in afternoon trading today, slipping below $1.22 after an early morning rally saw it reverse yesterday's hefty losses. Sterling hit a low of $1.2086 late last night after American traders took a decidedly pessimistic view on the currency, wiping two cents off sterling in a matter of four hours. After investors' fears [...]
Is this as good as it gets for manufacturing in the Eurozone? October 12, 2016 The march of the Eurozone's makers sped up over the summer as industrial production rose across the single currency bloc. Manufacturing output jumped by 1.6 per cent in August, ahead of expectations and up from a stumble in July which saw activity slip. The four biggest members of the 19-member Eurozone all reported growing activity, [...]
Is 2016 the turning point for energy storage? October 12, 2016 In the future, when investors look back at the year that represented the turning point for clean energy, 2016 may be it. The industry overall is growing at a breath-taking pace, but perhaps not for the reason that some investors think. Energy storage, rather than solar power and wind power, are the real factors that [...]
Sterling hit its lowest level on record last night October 12, 2016 The pound fell to its lowest ever level during yesterday afternoon's brutal sell-off as the currency remains under intense pressure. Sterling, which has been suffering at the hands of nervy traders keeping both eyes on every utterance from Prime Minister Theresa May, hit its weakest mark on the Bank of England's "effective exchange rate index" [...]
Thousands of Londoners flee the capital in search of cheap homes October 12, 2016 Tens of thousands of people leave London for a new life in the sticks every single year, new figures from the Office for National Statistics (ONS) have shown. More than 310,000 Londoners moved away from the capital between 2011 and 2015, the ONS said, with most other major cities also seeing Britons flee in search [...]
FTSE 100 dips again as sterling recovers some strength October 12, 2016 What a difference a day makes. Having hit a record high yesterday, the FTSE 100 started this morning in negative territory. The index fell 0.5 per cent to 7,032 points in early trading, having reached the heady heights of 7,127 yesterday – above the record high of 7,122 points it set in April 2015 (although it later closed slightly lower). It [...]
Fresnillo reports increased silver and gold production October 12, 2016 Miner Fresnillo has reported an uptick in production of silver, gold, lead and zinc in the third quarter of the year. Silver production was up 6.7 per cent, gold was up 20.9 per cent, lead was up 19 per cent and zinc was up 32.1 per cent compared with the same quarter last year. Production of [...]