Premier Oil shares rise as the weaker pound helps it swing to profit August 18, 2016 Shares in Premier Oil rose as much 3.59 per cent to 79.25p in opening trading after the independent oil and gas producer returned to profit in the first half of the year. The figures Premier Oil reported pre-tax profit of $110m (£83.57m) in the six months to June, up from a loss of $214.6m in the same period [...]
Standard and Poor’s attacks negative interest rates as desperate and damaging August 18, 2016 Central banks’ experiment with negative interest rates risks backfiring in spectacular fashion, top ratings agency Standard and Poor’s (S&P) has warned. In a new report assessing the impact of sub-zero borrowing costs on economies and industries around the world, the ratings agency concluded: “Moving to a negative rate environment, in every circumstance that we’ve looked at, [...]
Brexit-and-see: ECB dangles possibility of further action August 18, 2016 The European Central Bank (ECB) has paved the way to unleash further economic stimulus following the UK's shock vote to leave the European Union. The central bank said it was too early to assess the full extent of how the Brexit vote will hit the Eurozone, though it hinted it was considering adopting an even [...]
Inflation hits eight-month high in Eurozone August 18, 2016 Prices are rising at their fastest rate in eight months across the Eurozone. Inflation came in at 0.2 per cent for the month of July, up from 0.1 per cent in June and in line with previous estimates. Although only modest, the figures crystallise the single currency bloc's exit from deflation after four consecutive months earlier [...]
The value of you increased by £18,000 last year August 18, 2016 Ever wondered how much you're worth to the economy? Well, now you know: the Office for National Statistics (ONS) has released analysis showing the value of the UK's human capital increased by £890bn to £19.2 trillion last year. The figures, published this morning, showed the average employed person is now worth £471,000, up £18,000 from 2014. If [...]
Retail sales surge as Brits hit the shops in Brexit spending spree August 18, 2016 UK shoppers ignored prophecies of doom-and-gloom in July to hit the stores in their droves, sending retail sales surging in the month after the EU referendum. The pound rallied on the news hitting a two-week high against the dollar as economists said signs of strong consumer confidence were a "major boost" to the post-referendum economy. [...]
French unemployment falls to lowest level in four years ahead of presidential election August 18, 2016 Unemployment in France has fallen to its lowest level in four years, ahead of the country's presidential election next year. The rate of unemployment has fallen below 10 per cent for the first time since 2012, beating expectations. The rate came in at 9.9 per cent in the second quarter, beating expectations fo 10.1 per cent, [...]
Small housebuilders are the answer to the housing crisis. Here’s how we can help them August 18, 2016 The housing crisis is one of the most important policy challenges we currently face. As the gap between supply and demand grows, the lives of hard-working families become harder. While there are obvious societal issues, the economy also suffers. In 2014, Bank of England governor Mark Carney admitted that the UK’s booming housing market had become [...]
Top think tank says big bucks for graduates may be about to end August 18, 2016 The graduate pay premium could come tumbling down over the next few decades, according to the Institute for Fiscal Studies (IFS), with companies unable to carry on offering bumper pay packets for swathes of degree-holders. Recent graduates earn more than £12 an hour on average, while the typical employee in the same age group with [...]
Political threats could hit fragile global growth August 18, 2016 The global economy is in danger of being blown off course by any number of political risks stalking both advanced and emerging markets, Moody’s warned today. In its quarterly economic outlook, analysts said they expected growth to be stable, if unspectacular, over the next two years, but highlighted a cocktail of threats or "downside risks" – from the [...]