Ignore the doom-and-gloom headlines – people keep getting happier September 16, 2019 The news gives us plenty to worry about these days. From trade wars to political polarisation, the world seems full of risks. It is therefore perhaps surprising that – as far as we can tell – people are getting happier. The Office for National Statistics (ONS) surveys 150,000 people in the UK every year, and [...]
UK house prices see first September fall for nine years September 16, 2019 UK house prices have witnessed their first September fall since 2010, according to a closely-watched gauge, as Brexit uncertainty continues to dampen sales. The average price of property coming to market fell by 0.2 per cent in September, the house price index from real estate website Rightmove showed. “As we approach yet another Brexit deadline, [...]
Business groups say Brexit impasse hurting firms and growth September 16, 2019 Two British business groups have warned of the damaging effect of the Brexit impasse on UK firms and predicted lower investment and growth. The British Chambers of Commerce (BCC) today downgraded its growth forecast for Britain and predicted that business investment will plummet 1.5 per cent this year and fall 0.1 per cent in 2020. [...]
US blames Iran for drone strikes on Saudi oil facilities September 15, 2019 The US blamed Iran today for drone strikes on two Saudi oil facilities on Saturday that knocked out about half the kingdom’s oil output. US secretary of state Mike Pompeo today accused Iran of “an unprecedented attack on the world’s energy supply.” Iran hit back, dismissing the claim that it was responsible and warning that [...]
Global authorities to quiz Facebook on Libra September 15, 2019 Facebook will be grilled by global central banks over its proposed Libra digital currency project as the social media giant faces increasing European opposition to its plans. Libra representatives will head to Basel, Switzerland tomorrow to face representatives of 26 central banks including the Bank of England and the Federal Reserve, according to the Financial [...]
Consortium led by Dalmore in talks to buy stake in UK’s £6bn nuclear power stations September 14, 2019 A consortium is in talks to buy a 20 per cent stake in the UK’s nuclear power stations. Dalmore, Equitix and GLIL Infrastructure are the funds closing in on a deal for a share in the power stations, which are valued at about £6bn, according to Sky News. Read more: Energy group Wood to sell [...]
Local Government Pension Scheme under pressure to drop active fund managers September 14, 2019 The Local Government Pension Scheme (LGPS) has said it is under pressure from government officials to switch to passive management after the suspension of the Woodford Equity Income fund in June. LGPS, which is the largest public-sector pension scheme in the UK with almost 6m members, has 60 per cent of its holdings in active [...]
Saudi Arabia oil facilities engulfed in flames after drone attacks September 14, 2019 Two major oil facilities in Saudi Arabia have burst into flames following drone attacks, state media reports. Footage has emerged of flames and smoke engulfing Abqaiq, the site of state-owned company Aramco’s largest oil processing plant. Read more: Opec faces daunting global oil surplus and nosediving prices in 2020 A separate attack also set alight [...]
Wework IPO: Firm cuts founder’s supervoting power to save float September 13, 2019 Wework is set to slash the supervoting power of its co-founder to assuage fears of investors as it tries to save the company’s initial public offering (IPO). The firm will also appoint a lead independent director by the end of the year as well as cut Neumann’s voting power from 20 votes per share to [...]
Pound jumps past $1.24 on reports DUP could soften backstop stance September 13, 2019 The sterling surged through the $1.24 barrier on Friday morning on renewed hope of a Brexit deal following reports that the DUP could be willing to soften its stance on the Irish backstop. The pound rose by 0.6 per cent to hit a seven-week high despite the ongoing prorogation of parliament. It comes after a [...]