UK inflation: Consumer price index falls to 0.5 per cent in December January 13, 2015 Crumbling energy and petrol prices dragged the rate of inflation to a joint low since records began in 1989, forcing Bank of England (BoE) governor Mark Carney to write an open letter to the chancellor explaining the fall. The consumer prices index (CPI) rose just 0.5 per cent in the year to November, the Office [...]
Mark Carney set to write inflation letter next month January 12, 2015 INFLATION is expected to have dropped too far below the Bank of England’s target, prompting an embarrassing letter from Mark Carney to George Osborne to explain what went wrong. But instead of sending the letter the moment the inflation data is published – at 9.30am this morning – the governor of the Bank will now [...]
Quindell share price rises as investors give thumbs up to Richard Rose and Jim Sutcliffe appointments January 12, 2015 Investors in troubled insurance outsourcer Quindell yesterday welcomed the firm’s appointment of Richard Rose and Jim Sutcliffe as chairman and deputy chairman, despite it coming to light that the pair have been granted a combined 18.6m share options. The Hampshire-based firm’s stock was up 26 per cent in trading yesterday following the news. “All appointments [...]
Afren’s reserves cut sees shares crash by 30pc January 12, 2015 SHARES in oil firm Afren plummeted by over 30 per cent yesterday, following an update from the company which revealed it is likely to be forced to cut its previous reserves estimates. The group stated that a Competent Person’s Report (CPR) being carried out on its Barda Rash operation in Kurdistan is “expected to show [...]
Afren share price falls as much as 27 per cent after cutting Kurdistan oil reserve estimate January 12, 2015 Afren's share price skidded by as much as 28 per cent after it slashed estimates for reserves at its Barda Rash oil field at the Iraq-Kurdistan border. The oil and gas company told investors that the oil field was expected to show a "material reduction" compared to previous estimates of resources at the site. This [...]
Quindell share price leaps 27 per cent as it names Richard Rose as chairman and makes three more executive hires January 12, 2015 Shares in troubled insurance claims outsourcer Quindell jumped 27 per cent in late morning trading after it confirmed it has hired four new executives. Richard Rose, the chairman of online electrical goods retailer AO.com and cash-and-carry operator Booker Group, has been named as its new chairman, replacing Rob Terry who stepped down in November. Meanwhile [...]
Businesses get 2015 confidence boost from tumbling inflation January 11, 2015 BUSINESSES expect a solid start to 2015, according to new survey data. The BDO optimism index released today by the eponymous accountants rose to 104.9 in December from 103.9 in November. The long-term average is signified by 100. The output index remained steady at 103.3 in December from November’s 103.2. The inflation index edged down [...]
Inflation falling after price wars over Christmas – London week ahead January 11, 2015 CONSUMER price inflation figures for December, due out tomorrow, will shine a light on to what extent falling oil prices and intense retail competition have boosted spending power in the UK. Analysts says the fall in inflation is likely to have been tempered by the fact that there was more retail discounting than usual in [...]
Quindell share price edges up as it warns: “We definitely haven’t appointed a chairman yet” January 9, 2015 Shares in troubled insurance outsourcer Quindell edge 3.5 per cent higher in late morning trading after it issued a statement denying press speculation that it had appointed a chairman. However, the company added that "discussions are taking place with individuals", although "there can be no certainty that any appointment will be made imminently". Shares in [...]
Bank of England keeps interest rates at 0.5 per cent for 70th month in a row January 8, 2015 The Bank of England's monetary policy committee (MPC) kicked off 2015 by keeping the base rate at 0.5 per cent. It's the 70th consecutive month rates have been held at historic lows, and the last rise was way back in March 2009. We'll have to wait until January 21 to find out who voted for [...]