For richer or for poorer? The economic case for marriage is worth remembering December 4, 2019 An important piece of social news emerged last week. According to the Office for National Statistics, the divorce rate in 2018 fell to its lowest level for nearly 50 years. The overall trend is clear and well-established. The divorce rate rose steadily from the late 1950s, with sharp rises immediately following the Divorce Act of [...]
GBP/USD: Sterling hits seven-month high as traders hope for Tory election victory December 4, 2019 The pound climbed to a seven-month high today as traders grew hopeful that the Conservatives would gain a majority at the upcoming General Election, bringing some certainty to the Brexit process. Sterling topped $1.306 this morning before falling back slightly. The GBP/USD exchange rate was 0.4 per cent higher by 10.15am at $1.304, a level [...]
Chinese power firm Sdic delays London listing on market conditions fears December 4, 2019 Leading Chinese power generation firm Sdic Power today announced it would delay listing 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE) due to “market conditions.” In a statement, the company said it “believes this is a prudent decision and is in the best interests of its existing [...]
UK economy sent ‘staggering’ as services sector shrinks ahead of election December 4, 2019 The UK services sector contracted last month at the fastest pace since March, survey data has shown, as domestic political uncertainty drove Brits to be cautious with their spending. The IHS Markit/Cips services purchasing managers’ index (PMI) fell to 49.3 in November, down from a score of 50 in October. Although the reading was above [...]
Petrol prices fall for the fourth consecutive month in November December 4, 2019 Petrol prices fell for the fourth month in a row in November, with the average price of a litre of unleaded now 3.3p less than at the beginning of August. The average price for unleaded fell 0.48p to 125.93p, with diesel showing a similar drop in price from 130.27p to 129.83p, according to the RAC’s [...]
John McDonnell: A Labour government would save families thousands December 3, 2019 Shadow chancellor John McDonnell will tomorrow tell families that a Labour government could save them thousands of pounds a year as he seeks to shrug off criticism of his spending plans. In a speech in Birmingham ahead of the 12 December polling day, McDonnell will attack the Tories for overseeing a “cost of living crisis” [...]
IFS questions Labour’s nationalisation plan for utilities December 3, 2019 The Institute for Fiscal Studies (IFS) has questioned Labour’s plans to renationalise swaths of the economy, suggesting that the party’s aims could be achieved by changing regulations instead. The economic think tank also said the up-front costs of nationalisation were much less relevant than how well the assets would be managed by the public sector. [...]
Spanish oil giant Repsol pledges to cut emissions to zero by 2050 December 3, 2019 On Monday Spanish oil giant Repsol pledged that it would reduce net carbon emissions from its operations and products to zero, taking a €4.8bn (£4.1bn) value hit in the process. The company, which described the move as an industry first, announced the step on the first day of the UN climate change summit in Madrid. [...]
FTSE 100 slumps as Donald Trump says China deal could wait until end of 2020 December 3, 2019 The FTSE 100 plunged this afternoon along with global stock markets after US President Donald Trump suggested he could wait until after the 2020 presidential election to strike a trade deal with China. Trump’s comments shook investors whose nerves had already been frayed by the President’s decision to slap tariffs on Brazil and Argentina yesterday [...]
UK oil industry calls for urgent action on carbon capture development December 3, 2019 Investment in the energy sector needs to double from £20-£25bn a year today to £40-£40m if the UK is to meet its net zero challenge. Trade body Oil and Gas UK’s (OGUK) new Energy Transition Outlook report, published today, finds that development of carbon capture, use and storage technology (CCUS) is essential to meeting the [...]