European Central Bank (ECB) keeps interest rates on hold as Super Mario prepares to update the markets April 21, 2016 The European Central Bank (ECB) has kept interest rates unchanged as its president, Mario Draghi, prepares to confront criticisms of the Bank's monetary policy this afternoon. A statement from the ECB, published ahead of a key press conference with Draghi, said: The ECB decided that the interest rate on the main refinancing operations and the [...]
Pernod Ricard share price plunges after China holds back sales in third quarter April 21, 2016 The share price of Pernod Ricard dropped this morning after the company posted lower-than-expected third quarter sales in a trading update. The figures Organic growth for the third quarter was up one per cent year-on-year, which was below analyst estimates of 1.3 per cent in a Reuters poll. Net sales in Asia and the rest of the world fell 10 [...]
Mitsubishi Motors’ offices raided a day after company admits some of its fuel efficiency tests were falsified April 21, 2016 Mitsubishi Motors' offices have been raided by the Japanese authorities today following the car manufacturer's admission that some of its fuel economy tests data had been falsified. Yesterday, Mitsubishi issued a statement saying it had discovered that fuel consumption tests for roughly 600,000 of its vehicles had been run improperly, and therefore did not meet requirements under [...]
Eurotunnel smashes traffic record as it posts revenue growth April 21, 2016 Channel Tunnel operator Eurotunnel has reported a new traffic record in the fourth quarter. The company reported record traffic for truck shuttles as 410,729 trucks had been carried in the three months, an increase of 10 per cent. Read more: EuroTunnel has hired French soldier Dominique Schmitlin to head its security "In the first quarter of 2016, [...]
Retail prices drop for 21st consecutive month, but we’re still cutting back, according to the Office for National Statistics (ONS) April 21, 2016 Poor retail figures released by the Office for National Statistics (ONS) this morning have compounded fears of a slowdown in the UK economy during the first quarter of the year. Sales dropped by 1.3 per cent in March, a much steeper fall than the 0.1 per cent which had been pencilled in by analysts. Prices in [...]
Estate Agent Wars: Competitions watchdog warns firms over suspected collusion in OnTheMarket antitrust row April 21, 2016 Has the government just hammered the final nail in the coffin for OntheMarket? Estate agents have been sent a warning by the Competition and Markets Authority (CMA), telling them they may be breaking the law by making "joint decisions" to join the portal and exit rivals such as Rightmove and Zoopla. Those who are suspected of [...]
Mortgage lending rockets in March 2016 as stamp duty tax changes prompt a borrowing spree April 21, 2016 Mortgage lending ballooned in March as landlords and investors piled into the property market to beat a slew of tax changes which came into effect at the start of April. A total of £25.7bn was borrowed for home purchases in March, according to figures released by the Council of Mortgage Lenders (CML) this morning – 43 [...]
The government has already missed its deficit reduction targets as public sector borrowing comes in at £74bn for 2015/16 April 21, 2016 The government has fallen short of its target to cut the deficit – just one month after it made its latest prediction. Public sector net borrowing, the amount the government needs to borrow in order to meet its spending commitments, came in at £74bn in the 12 months to March. This was down on the £92bn shortfall recorded [...]
EU referendum: High court to rule on expats who claim they are being illegally denied the right to vote April 21, 2016 The High Court is set to rule on the right of British expats to vote in the upcoming EU referendum. The expats claim they are being illegally denied the right to vote in the upcoming referendum on the UK's membership of the EU. It's speculated that if the decision goes their way – that is, they [...]
Health experts from the World Cancer Research Fund say these are the two worst things you can eat and drink April 21, 2016 If you'd been enjoying a bacon sandwich this morning and were planning on going for a few drinks tonight, scientists may have bad news for you. Bacon and alcohol have been "strongly" linked to stomach cancer for the first time in a new study by the World Cancer Research Fund (WCRF). Along with being overweight, [...]