Euro falls against the pound as European Central Bank chief Mario Draghi cuts inflation forecasts September 3, 2015 The euro lost 0.6 per cent against the pound at lunchtime after comments from European Central Bank (ECB) chief Mario Draghi said Eurozone inflation would be lower and that recent market volatility presented downside risks. In comparison with the June 2015 Eurosystem staff macroeconomic projections, the outlook for HICP inflation has been revised down, largely [...]
Prime Minister David Cameron under pressure from own party including Baroness Sayeeda Warsi to accept more refugees September 3, 2015 Prime Minister David Cameron was facing the threat of another revolt today, after he came under fire from members of his own party to alter his stance on the growing refugee crisis. A number of MPs and Baroness Sayeeda Warsi have now publicly called on the UK to alter its position of restricting the number [...]
EU referendum: Government to make changes regarding “purdah” rules September 3, 2015 Prime Minister David Cameron is set to concede more changes to the EU referendum, this time focusing on “purdah” period rules – just a day after he bowed to pressure to change the wording of the EU referendum question. The Prime Minister has come under pressure from MPs to respect the official purdah rules. They argued [...]
China’s economic slowdown: IMF warns central banks not to raise interest rates September 3, 2015 The IMF has warned the world's biggest economies not to raise their interest rates in the near future, as China's economic struggle could have far-reaching consequences. In a pessimistic report released last night, the international lender said the risk of a global slowdown was increasing, and that in most cases economies are falling short [...]
Umunna offers Corbyn camp an olive branch September 3, 2015 THE LABOUR party must demonstrate unity regardless of the outcome of its Labour leadership contest, shadow business secretary Chuka Umunna has said. Alluding to the far-left front-runner Jeremy Corbyn in a speech to the Westminster think tank Policy Network yesterday, Umunna said: “I do not think we can simply dismiss out of hand those who [...]
Zac Goldsmith will stay a Tory in London mayoral race despite Heathrow airport expansion plans September 3, 2015 Zac Goldsmith yesterday confirmed that he will stay in the Conservative party and remain on the mayoral ballot if the government backs the expansion of Heathrow airport. Goldsmith, the MP for Richmond Park, is widely seen as the front-runner for the Conservative candidacy in a field that also includes London MEP Syed Kamall, deputy mayor [...]
Fossil Fuel divestment: The feel-good climate change policy that would undermine public pension funds September 2, 2015 Most would agree that climate change could pose a threat to the economy. However, measures to combat it will ultimately prove counter-productive if they conflict with the interests of the taxpayer. Forcing government to pursue losses from taxpayer-funded investments in the name of environmentalism, for example, would be an obvious misuse of public [...]
David Cameron: The migration crisis will not be solved by Britain accepting more refugees September 2, 2015 Prime Minister David Cameron has responded to calls for Britain to take more refugees, arguing it will not solve the migration crisis. Talking to the BBC, Cameron said: "I don't think there is an answer that can be achieved simply by taking more and more refugees." However, yesterday German Chancellor Angela Merkel told journalists at [...]
Labour leadership race: Shadow business secretary Chuka Umunna urges unity after election, with 10 days to go until result September 2, 2015 No matter what the result of the Labour leadership race is, the party must show unity after the result of the vote, shadow business secretary Chuka Umunna has said. In a speech to think tank Policy Network, Umunna said: “I do not think we can simply dismiss out of hand those who hold critical views [...]
With China in turmoil, now is the time to celebrate our relationship with India September 2, 2015 As all eyes are fixed on China’s market turmoil, India is bullish about it’s own prospects. India’s economy is set to grow the fastest this year, at a projected rate of 7.5 per cent, according to the IMF. India’s consistently high economic growth rate and its lead position in the latest Baseline Profitability Index provide [...]