Oil price weakness and falling clothing costs helped to turn inflation negative last month September 13, 2015 INFLATION probably turned negative in August, according to some economists, due to oil price reductions being passed onto consumers and an increase in clothes prices in July reversing. “We anticipate the headline annual inflation rate to fall from 0.1 per cent to minus 0.1 per cent,” said Vicky Redwood from Capital Economics. She added that [...]
China fuels investors’ end-of-summer blues September 13, 2015 INVESTOR optimism has plunged to its lowest level since 2013 as fears grow over the slowing of China’s economy. Lloyds Bank’s measure of investor sentiment stooped to a score of three per cent in September form 12 per cent in August, according to survey data released this morning. There were sharp declines in sentiment towards [...]
Fewer shoppers in stores raises alarm for Xmas September 13, 2015 HIGH street footfall fell by more than two per cent for the third month in a row in August, raising concerns for the UK retail sector ahead of the key Christmas period. Total visitor numbers across UK high streets, retail parks and shopping centres fell by 1.6 per cent last month, according to figures released [...]
Teens mourn as ex- Bank of England hawk Andrew Sentance leaves rock band September 13, 2015 Teenage girls the world over will be in mourning, no doubt, when they hear that former Bank of England economist Andrew Sentance has retired from notorious Square Mile rock group Rock in the City Rock in the City are a stalwart of the financier pub scene, formed by a “motley group of City workers”, including [...]
London Fintech Week 2015 events: Who, what, where & when September 13, 2015 Trading apps at the ready; London Fintech Week starts today! With the capital being the biggest force for innovation in financial technology right now, this week of talks, conferences and startup demos will be the world’s biggest business geek-out. The events start at 8:30am each day and finishes late, so try to make [...]
Businesses need tax breaks for greener energy September 13, 2015 THE LOBBY group which represents UK manufacturers, the EEF, will today release a report calling for the government to scrap “ineffective” carbon taxes and instead offer tax incentives to reduce emissions. The EEF points to the carbon floor price, the amount companies must pay per tonne of carbon dioxide produced, and the carbon reduction commitment [...]
UK power supply unlikely to meet demand next winter warns bank September 13, 2015 BRITAIN is at risk of severe power shortages next winter, with available generation unlikely to meet demand. The UK will have only 53 gigawatts (GW) of dispatchable generation available to meet forecast peak demand of around 56 GW in winter 2016/2017, according to research from investment bank Jefferies. “This would be the first time in [...]
Oil and Gas Authority to launch new levy on North Sea groups September 13, 2015 NORTH Sea oil firms will soon begin paying an additional levy to support their new industry body, the Oil and Gas Authority (OGA). “Industry and government welcomed the creation of the OGA as an independent regulator with the resources and expertise to help maximise economic recovery from the UK continental shelf,” an OGA spokesperson said [...]
UK firms suffer a widespread dip in growth September 13, 2015 The UK economy looks to have cooled off over summer with new survey data showing businesses growing at their slowest for two years in August. The figures will add to concerns over the economy’s growth which were fed by a slew of negative data last week. Lloyds Bank’s purchasing managers’ index fell to a score [...]
Mortgage industry says EU rules will offer little benefit and hit lending September 13, 2015 NEW EU rules on mortgages are likely to dampen lending volumes, the industry has warned today. The European Mortgage Credit Directive was likely to depress lending activity, according to 74 per cent of mortgage brokers surveyed by the Intermediary Mortgage Lenders Association (IMLA). A similarly high proportion of lenders – 71 per cent – held [...]
