Former chief executive Winterkorn warned of Volkswagen defeat device probe, according to reports February 14, 2016 NULL
Former chief executive Martin Winterkorn warned of Volkswagen defeat device probe, according to reports February 14, 2016 The former chief executive of Volkswagen Martin Winterkorn was notified as early as May 2014 that US regulators would be probing into emissions-cheating devices, over a year before the scandal emerged, according to reports. Winterkorn and other senior figures have denied knowing about the so-called defeat devices, which can detect when a car is being tested for emissions. [...]
China’s central bank governor plays down fears over currency regime February 14, 2016 The governor of China’s central bank has downplayed fears over the country's dwindling level of foreign exchange reserves, saying there is no reason for them to fall to dangerously low levels. Zhou Xiaochuan, governor of the People’s Bank of China, blamed “speculative forces” for attacking the value of the yuan. China's stock market will open tomorrow after closing [...]
Brits bought a record number of new cars last year, but what was the best selling colour? February 12, 2016 White was the most popular colour for new cars last year. It was closely followed black and grey, with Brits opting for neutral tones as they smashed the record for new car purchases. The UK’s car manufacturers boomed last year on the back of strong domestic sales – 2015 was their best year for a decade. According [...]
Portuguese borrowing costs surge to highest since 2014 February 11, 2016 Portuguese government borrowing costs have shot up to their highest level since 2014. The interest rate on the government’s 10-year bonds rose above 4.4 per cent today before falling back to 4.1 per cent. It was 2.5 per cent at start of the year. The new left-wing government which took over last year has promised [...]
Global turmoil? Four things the Bank of England could still do if we were plunged back into a financial crisis February 11, 2016 UK stocks have hit a three-year low, the economy has lost steam, and concerns are growing that, should things go pear-shaped, interest rates are so low the Bank of England has run out of ammunition. Whatever your view on whether we're about to be plunged back into the misery of a full blown financial crisis, here's [...]
US Federal Reserve’s Janet Yellen: ‘We’re taking a look’ at negative interest rates February 11, 2016 The US Federal Reserve is looking into whether negative interest rates would be an applicable policy for the US. Federal Reserve chair Janet Yellen said in testimony to congress: "We had previously considered them and decided they would not work well to foster accommodation back in 2010." "In light of the experience of European countries and [...]
UK government borrowing costs hit record low as markets start to price in stronger chance of interest rate cut February 11, 2016 UK government borrowing costs have fallen to record lows as investors ditch risky stocks and flock to the safety of the bond market. The interest on a 10-year UK government bond dropped to 1.275 per cent today. It was just shy of two per cent at the turn of the year and nearly a full [...]
Lowest arrears rate for more than a decade as homeowners reap rewards of low interest rates and record employment February 11, 2016 The number of homeowners behind on their mortgage payments has fallen to its lowest for over 10 years. Fewer than one in 1,000 mortgages ended in repossession last year, according to figures released this morning by the Council for Mortgage Lenders (CML). The annual arrears rate for 2015 was 0.92 per cent, meaning fewer than one [...]
Economists: Prudential moves are likely to delay Bank of England interest rate hikes February 11, 2016 The Bank of England’s decision to raise interest rates is likely to be delayed by actions undertaken by the relatively new committee that focuses on financial stability. The financial policy committee (FPC) can impose restrictions on particular markets such as residential or commercial property markets, and can also make banks hold more capital. The monetary policy [...]