London house prices have another year of rapid growth as they climb 9.4 per cent in 2015 February 16, 2016 London house prices climbed 9.4 per cent last year, figure released by the Office for National Statistics this morning show. While it is some way below 2014's growth of 13.3 per cent, it is still rapidly outpacing earnings. The strong growth in London and the South helped drive nation-wide house price growth of 6.7 per cent. Prices [...]
Shortage of homes means two thirds of Londoners will be renting by 2025, says PwC February 16, 2016 London is on its way to becoming a city of renters, ending a century-long trend towards homeownership, new research reveals this morning. Over 60 per cent of Londoners will be renting by 2025, up from 54 per cent today, financial services giant PwC said. Only 41 per cent of Londoners had to rent in 2000. [...]
Bank of England not out of ammunition, says Ian McCafferty February 15, 2016 The Bank of England could cut interest rates into negative territory or resume its bond-buying programme if the economy were to slow, one of its officials has said. “I certainly don’t believe we are out of ammunition,” rate-setter Ian McCafferty told the Wall Street Journal today. McCafferty voted to keep interest rates at 0.5 per cent this [...]
Mario Draghi says ECB is “ready to do its part” on economy as he tries to dampen fears over health of European banks February 15, 2016 European Central Bank (ECB) chief Mario Draghi has signalled that further monetary policy easing is likely in March. "A general deterioration in market sentiment has taken root and has gathered pace over the last week," he told European Parliament today. "Activity and trade data have been weaker than expected, turbulence in financial markets has intensified and [...]
US economy suffering winter blues as business survey data points to stagnation February 15, 2016 The US economy is currently stagnating, according to business survey figures released today. The sales managers’ index (SMI) compiled by World Economics dropped to a score of 50.8 in February from 51.1 last month. Scores above 50 imply the economy grew compared with the month before, with February’s score pointing to very sluggish growth. Business [...]
Eurozone exports climb five per cent in 2015 as sales to the US soar February 15, 2016 The value of goods and services exported by the Eurozone climbed by five per cent last year compared with 2014. The currency-bloc sold €167.5bn (£129.6bn) of goods to the rest of the world in December, taking the 2015 total to €2.04 trillion, according to data released this morning by Eurostat, the statistical office of the EU. [...]
Let the good times roll: EY Item Club forecasts strong growth for UK financial services February 15, 2016 The financial services industry can expect decent growth over the next few years, a group of forecasters have said today. Mortgage lending, business borrowing and consumer credit are all set to grow at healthy rates over the coming years, as the UK economy shrugs off recent severe stock market declines. However, the EY Item Club said [...]
London house prices: Asking prices hit record high as concerns grow over help to buy eligibilty February 15, 2016 London asking prices reached a new record high in February, property website Rightmove said this morning. Rising prices are making buying a new home difficult for many Londoners even when using the government’s help to buy scheme. Prices in Greater London climbed 5.4 per cent over the course of last month and are 10.5 per cent higher than [...]
CEBR: Stock market rout is not a sign of impending downturn February 15, 2016 This year’s stock market rout is not a sign of impending doom for the world economy, an economics consultancy has said today. Global GDP should grow by 2.6 per cent this year, the same rate as in 2015, according to the Centre for Economics and Business Research (CEBR). China is slowing, not collapsing, the CEBR [...]
Former chief executive Winterkorn warned of Volkswagen defeat device probe, according to reports February 14, 2016 NULL