Fed expected to hold on interest rates as committee members meet for the first time this year in Washington DC January 26, 2016 The US Federal Reserve is meeting today to decide whether to change the rate of interest from the 0.5 per cent rate it chose at its last meeting in December. The Fed is widely expected to leave rates unchanged when it releases statement at 7pm GMT tomorrow. The Federal Open Market Committee (FOMC) voted unanimously to [...]
UK house prices: A quarter of people living with parents don’t think they will be able to afford to move out until they are at least 35, according to new research January 26, 2016 A quarter of people who currently live with their parents don't think they will be able to afford a home until they are at least 35, according to new research. Research from the Consilium Strategtic Land Fund revealed that a further 12 per cent don't think they will be able to buy a home until they [...]
UK house prices: From London to Leeds, here are the UK’s cities, ranked from least to most affordable property January 26, 2016 House prices in the capital may be shooting up, but considering Londoners tend to earn a lot more than those living in, for instance, Glasgow, what does that actually mean? A new report ranks world cities by how much house prices are in comparison to locals' average salaries. And while London (unsurprisingly) is named one of the world's most [...]
EU referendum: Morgan Stanley says June referendum will speed up uncertainty and slowdown in UK growth January 26, 2016 Morgan Stanley is now predicting the in/out vote on Britain's European Union membership will be held within a matter of months – something the bank's economists say would accelerate market uncertainty and spark a slowdown in growth. In a note out this morning, Morgan Stanley economists said they now expect Prime Minister David Cameron will secure a reform deal [...]
Santander invests £1.8m in London restaurant chain Rosa’s Thai cafe January 26, 2016 Santander has invested £1.8m into London restaurant chain Rosa's Thai cafe, to help it expand in the capital. The investment, including an £800,000 Growth Capital loan, will fund the opening of three new restaurants in 2016, first in Victoria, and then Brixton and Shoreditch. The company hopes the new restaurants will create 100 jobs over the next two [...]
US crude and WTI: Credit Suisse slashes oil price forecasts by more than $10 January 26, 2016 Credit Suisse has become the latest big bank to slash its oil price forecasts, to the tune of around $10 per barrel for 2016 and 2017, on high inventories and slower demand growth. The Swiss-based bank cut its 2016 price forecast for Brent crude to $36.25 per barrel from $58.00, while lowering its 2017 outlook to [...]
Low interest rates challenge defined benefit pensions across the EU, says pensions watchdog January 26, 2016 NULL
One in five home insurance claims is rejected, although almost all motor claims are paid out, finds insurance industry body ABI January 26, 2016 One in five (21 per cent) of claims on home insurance during 2013 and 2014 was turned down, according to figures out today from the Association of British Insurers (ABI). The first set of insurance payout statistics ever published by the ABI also revealed that 99 per cent of motor insurance claims were accepted, as [...]
Mark Carney: Low oil prices are good for economic growth – in the medium term January 26, 2016 Bank of England governor Mark Carney has said low oil prices are good for economic growth – for now. Appearing before MPs at the Treasury Select Committee, Carney said it was "absolutely not true" that the Bank wanted to encourage higher oil prices, adding that lower prices were "good for growth in the medium term" [...]