TfL Tube strikes 2015: Why they were good for commuters and the economy September 14, 2015 The chaos of the Tube strikes may have caused misery and disrupted your commute, but actually they more than likely did you a favour – and the economy too. A summer blighted by strikes forced people to find alternative routes and deviate from their usual commute. Of course, no one likes change, but new research suggests that [...]
The next two years will be the hottest on Earth, but the UK is set for a cold spell September 14, 2015 The world's average temperature is set to reach a record high this year and next, according to a report by the Met Office. This is because of a combination of the effects of greenhouse gases and a major El Nino event currently taking place in the Pacific. El Ninos are characterised by the [...]
Jeremy Corbyn wins Labour leadership contest: Here’s what he’s going to do next September 14, 2015 What is Jeremy Corbyn going to do next? His acceptance speech may have been branded “rambling” and there may be some confusion over certain policies, but the veteran North Islington MP is clear about at least one thing: opposing the Conservatives. At least two Tory proposals – the Trade Union Bill and new [...]
Shanghai Composite Index shares suffer amid disappointing Chinese economic data September 14, 2015 Chinese shares came under pressure again today, after disappointing economic data stoked concerns that the world's second-largest economy is losing momentum. The Shanghai Composite Index closed down 2.7 per cent, taking it to 3,114.80 points, also constituting the sharpest one-day drop since late August. Mainland Chinese shares have shed nearly 40 per cent since its [...]
Bank of England chief economist Andy Haldane will answer questions on Twitter today September 14, 2015 A member of the Bank of England's rate-setting committee, chief economist Andy Haldane, will be answering questions about how the central bank should regulate financial markets in the UK on Twitter today. Haldane, who has been touted as a possible replace to ousted Financial Conduct Authority boss Martin Wheatley, will conduct the Twitter Q&A from the [...]
UK inflation background (for tomorrow) September 14, 2015 A renewed rout in global oil prices sent UK inflation back [to zero] [into negative territory] last month according to data released by the Office for National Statistics. The consumer price index fell to [zero] [-0.1 per cent] in the year to August, from 0.1 per cent a month earlier, [in line with] [also missing] [...]
Labour’s lost it: Jeremy Corbyn’s new shadow chancellor John McDonnell wants to seize shares and impose 60 per cent tax rate September 14, 2015 Jeremy Corbyn’s Labour party last night signalled a dramatic lurch to the left with the appointment of radical socialist John McDonnell as its new shadow chancellor. McDonnell proposes the full public ownership of Britain’s banking system in order “to take control of our casino economy” and has described his interests as "fermenting [sic] the [...]
Federal Reserve’s US interest rates decision sets alarm bells ringing over global debt timebomb September 13, 2015 Global debt levels have hit dangerous heights, a top financial group has warned, leaving many countries vulnerable to a US rate hike which could come as early as this week. Recent swings in global stock markets are reflective of deep underlying problems in the global economy, the Bank of International Settlements (BIS) said yesterday. [...]
Challengers say Treasury talks are frustrating September 13, 2015 BOSSES at smaller banks have said that they were “disappointed” by recent meetings with Treasury officials. Bosses from 11 challenger banks – including Metro Bank, Aldermore and OneSavings Bank – sat down with Treasury officials on Friday to voice their concerns over a new bank tax set to go into effect next year. The tax [...]