Why Bank of England hawk Ian McCafferty voted for an interest rate rise September 25, 2015 The Bank of England's (BoE) solitary hawk, Ian McCafferty, has said he voted for an interest rate rise at the September meeting because inflation risks overshooting its short to medium-term target. McCafferty said inflation is being held down by temporary factors such as sharp falls in oil and commodity prices, and that it should return to [...]
Glencore share price drops to its lowest point since listing on worsening commodities rout September 25, 2015 Glencore shares have fallen to their lowest point since listing, dropping below its 100p per share floor for a second time this week, as a global rout continues to pummel the embattled commodities giant. After a somewhat buoyant opening, Glencore has tumbled anew, falling 2.3 per cent over the course of the morning to trade [...]
Drax share price up as it withdraws from £1bn renewable energy project due to “critical reversals” in government support September 25, 2015 Drax's share price climbed this morning after the energy giant abandoned a £1bn carbon capture project because of the government's policy u-turn on renewable energy. Drax had committed to storing carbon dioxide next to its plant in North Yorkshie – the biggest coal-fired power station in the UK – but today said it was halting [...]
Volkswagen emissions scandal: VW now UK’s lowest ranked car brand, says poll September 25, 2015 Volkswagen has been in the spotlight over the last week, and for reasons it would have preferred to avoid. After it emerged that VW had rigged its cars with a device that could cheat an emissions test, the company announced it could have to recall 11m cars, set aside €6.5bn and Martin Winterkorn, the former [...]
Buy-to-let boom coming to an end? One in five landlords going out of business hit hard by tax break cuts September 25, 2015 Could the buy-to-let boom be coming to an end? The possibility of lucrative returns may have prompted many to invest in a buy-to-let property, but a new study suggests being a landlord may not be such a sure-fire investment after all. One in five landlords are forecast to be out of business within the next [...]
UK house prices: Supply of properties for sale crashes to 11-year low as National Association of Estate Agents warns “We’re reaching crisis point” September 25, 2015 The supply of houses for sale has slumped its lowest level for 11 years, exacerbating fears that housing affordability is set to continue declining. The number of properties available to buy per estate agent branch dropped to 38 in August, according to figures released today by the National Association of Estate Agents (NAEA) – a [...]
Moody’s Analytics: Economists say Syrian migrants will boost the European economy September 25, 2015 Welcoming immigrants fleeing the turmoil in the Middle East is in Europe’s self interest, top economists at Moody's Analytics have said. Europe is suffering from dire demographic trends with fertility rates in most countries below self-replacement rates – implying populations are set to decline. It also means the share of elderly, which already exceeds the [...]
Volkswagen emissions scandal: VW to name Porsche’s Matthias Muller new chief executive after Martin Winterkorn’s exit – reports September 25, 2015 Volkswagen is to announce its new boss today, after former chief executive Martin Winterkorn stepped down on Wednesday amid the ongoing emissions scandal. The favourite to replace him is Porsche boss Mattias Muller, according to several reports. Reacting quickly to Winterkorn's departure on Wednesday, the car maker is expected to make an announcement about the [...]
Catalonian independence proxy vote weighs on Spanish bonds September 25, 2015 Regional elections, which have turned into a de-facto independence vote for the breakaway region of Catalonia, have hit Spanish bonds. The pro-independence coalition is on track to win in Catalonia, albeit perhaps without a majority, in the 27 September vote. Catalan president Artur Mas has vowed to kick off the secessionist measure if he holds [...]
UK house price gap hits a 20-year high September 25, 2015 The gap between house prices in London and other major regional UK cities has grown to its widest level in 20 years. Homebuyers can expect to save on average £300,000 if they ditch the capital and move to Manchester, according to data released this morning by Hometrack. The gap was greatest in Glasgow, [...]