Japan has axed its GDP growth forecast for 2016 July 13, 2016 The Japanese economy is going to grow at a far slower pace than was previously thought this year, and no, it's not because everybody in the country is too busy playing Nintendo's Pokemon Go to get anything else done. The Japanese Cabinet Office has reduced its forecast to 0.9 per cent, down from the 1.7 per cent that was [...]
Oil slide leads to call from RAC for savings on the forecourt July 13, 2016 Motoring group the RAC is wasting no time in jumping on the falling oil price to urge retailers to slash prices at the pumps. The price of oil has dipped lately on fears of a global slowdown in demand and an uptick in supply from the likes of Iran and Saudi Arabia. A barrel of [...]
Payday lender Wonga to name new chief executive July 12, 2016 Payday lender Wonga is set to name a new group chief executive this week. Tara Kneafsey, currently head of Wonga’s UK consumer loans business, will take control of the wider business, a statement is expected to say today. Kneafsey joined the short-term lender in 2014 from RSA Insurance where she was a colleague of Wonga’s [...]
Opec has warned that the Brexit vote will weigh on European oil demand as it pumps more oil than at any time in recent history July 12, 2016 Diminished former oil cartel Opec has cautioned the UK's recent vote to quit the European Union could dampen oil demand across the continent. The warning comes alongside data that showed Opec countries between them pumped more oil than at any time in recent history, sparking fears the supply glut may not clear in the second half of the year. The [...]
At the close: Sterling surge holds down the FTSE 100 July 12, 2016 The FTSE 100 closed flat this evening after ending yesterday's session at an 11-month high. The blue-chip index closed at 6,680.69 points, down just two points and flat in percentage terms. The end to yesterday's rally was put down to sterling being on course for its best performance against the yen in over three years after Theresa May [...]
The pound is on its best run against the Japanese yen in three years July 12, 2016 Sterling is on course for its best performance against the yen in over three years after Theresa May was named as the successor to Prime Minister David Cameron. A 1.9 per cent rise for the pound sent it to a one-week high of $1.3246, while against the safe haven Japanese yen sterling climbed almost four per [...]
These are the next areas that will get Virgin Media’s speedy fibre-to-the-premises broadband July 12, 2016 Virgin Media has named the next 30 rural communities which will gain access to its fibre-to-the-premises (FTTP) network. The areas are expected to be connectable via full fibre by spring 2017 and is the next stage of Virgin Media's Supercharging Local Communities initiative, part of its £3bn Project Lightning network. It's aiming to bring 300 mega-bits-per-second broadband to small businesses located outside major towns and cities. Virgin [...]
Before the bell: What you need to know before the US market open July 12, 2016 Major US markets are on a tear hitting record highs and the UK blue-chip index is in bull market territory. Here's what you need to know before the US market open at 2:30pm London time. It seems nothing can stop the equity ball rolling now, with futures pointing yet higher ahead of the open. The [...]
Shire shares are surging after it won approval for a new dry eye treatment July 12, 2016 Big pharma firm Shire's shares are shining today after it gained regulatory approval for a new dry eye treatment. Shares jumped by 4.8 per cent at the open, though have fallen back to around 3.1 per cent higher at pixel time. Shire is planning to make the drug, called Xiidra, available up to 16m people in the US that have been [...]
Lack of IT security skills will lead to increased risk of cyber threats in the next few years July 12, 2016 Shortage of IT security talent will lead to more cyber security attacks in the next five years, according to a new report by IT recruitment consultancy Robert Half Technology. Demand for IT security specialists is rising, with companies and businesses in fear of data theft and hacking. The report found the majority of UK IT bosses (77 per cent) believe they will [...]
