Jobless figures drop to lowest on UK record October 15, 2014 UNEMPLOYMENT fell to six per cent from 6.2 per cent in the three months to the end of August, marking the fastest annual decline since records began in 1972 and the lowest rate of joblessness since 2008. The number of unemployed – those unable to find work – stood at 1.97m in the period between [...]
London house prices may be starting to drop October 15, 2014 London house prices could already be falling, according to figures released yesterday by estate agents Haart. Prices in the capital were 3.3 per cent lower in September than in August. However, growth since September 2013 remains high at 19.8 per cent. A similar, but less extreme, trend is seen for prices for the whole UK. [...]
German prices below target as Merkel rules out fiscal stimulus October 15, 2014 INFLATION in Germany remained steady in September, but was still undershooting the European Central Bank’s target. Prices rose by 0.8 per cent year-on-year in September, according to figures released by Germany’s Federal Statistics Office yesterday. The year-on-year figure has been the same for the three months, marking a brief pause in a longer term trend [...]
Germany’s woes prompt fear of Eurozone recession October 14, 2014 The Eurozone could be in the midst of recession for the third time since 2008, with data released yesterday pointing to weak growth and deteriorating confidence. Industrial production in the currency union fell by 1.8 per cent in August after a modest rise in July, according to figures released by Eurostat. There was an alarming [...]
EU and French officials to clash over budget October 14, 2014 FRANCE presents its budget to the EU today with French officials likely to provoke a frustrated response after to failing to make agreed savings. In March, France agreed to make savings of 0.8 per cent of GDP by 2015, but the new budget is expected to save only around 0.2 per cent of GDP. Its [...]
Weak inflation knocks sterling to 11-month low October 14, 2014 THE POUND fell sharply yesterday as UK inflation for September came in below expectations, reducing the chance of a 2014 interest rate hike. Prices rose at their slowest pace for five years, according to the Office for National Statistics (ONS), prompting sterling to sink last night to an 11-month low of $1.5905 to the pound. [...]
London house price boom set to stall in 2015 as tough new mortgage lending rules take effect October 14, 2014 House price growth is set to level off across the UK and could even be at risk of falling in the capital, according to industry experts. “It’s been indicated by the collapse in buyer in inquiries, there’s been a very sharp fall in London,” Joshua Miller, economist from the Royal Institution of Charted Surveyors, told [...]
Michael Page share price plummets as profit takes exchange rate hit October 14, 2014 Shares in recruitment firm Michael Page saw their price plunge by 7.6 per cent yesterday as its latest results showed the strength of sterling had hit profit significantly. The firm performed well volume-wise, with gross profits 11.6 per cent higher in the third quarter than a year earlier when ignoring changes in exchange rates. However, [...]
Skilled workers flock to UK to fill shortages due to euro trouble October 14, 2014 The strength of the UK recovery is attracting talent from struggling economies, helping to fill shortages. Adrian Gunn, chief executive of recruiters Matchtech, told City A.M. that the UK had a major skills shortage. “Due to the skills shortage, candidates tend to have multiple job offers, but also are receiving quite a lucrative counter offer [...]
Falling Brent crude oil and prices at the pump delay interest rate hike October 13, 2014 Tumbling oil prices on world markets are expected to pull British petrol prices down even further in the coming weeks, with economists pushing back their predictions for when interest rates will finally rise. Brent oil prices plummeted more than $2 a barrel during yesterday’s trading, touching their lowest levels since 2010. At around $88 per [...]