UK GDP growth stayed steady at 0.4 per cent while fall in migration would harm economy, says Niesr December 7, 2016 Migration controls could leave the UK economy up to 1.19 per cent poorer by the end of this Parliament, says an influential think tank, as it estimates that growth in the last three months was unchanged at 0.4 per cent. The growth rate of UK gross domestic product (GDP) for the three months ending in [...]
The pound’s fall is pushing the FTSE 100 towards its best day since Trump’s election December 7, 2016 Healthy gains for banking and mining stocks and a sharp downturn in the pound are driving the UK’s FTSE 100 index to its best performance since Donald Trump's election victory last month. The index had gained over 91 points (a rise of 1.35 per cent) at the time of writing to reach 6,871.29. Banks stocks shared in [...]
Sterling falls sharply as UK production falls at its fastest rate in four years December 7, 2016 The pound has fallen sharply against the dollar as a big fall in manufacturing production contributed to the biggest fall in UK production for more than four years. The decrease surprised analysts and could deal a blow to the nation's GDP growth expectations. Reduced output in the UK’s oil and gas industries also contributed to [...]
UK house price growth slows as affordability concerns start to mount December 7, 2016 UK house price growth slowed in November to 0.2 per cent, as consumers start to feel the squeeze of prices rising faster than wages. Prices had increased by 1.5 per cent in October, which helped drive the annual rate of growth to six per cent, up from 5.2 per cent in the year recorded last [...]
Widening US trade deficit gives Donald Trump a challenge to fulfil campaign reduction promise December 6, 2016 Rising imports pushed up the US trade deficit by over $6bn in October and factory orders increased faster than expected, as domestic demand continues to stay strong in the world’s biggest economy before the arrival of Donald Trump in the White House. Trump has promised to reduce the trade deficit when he takes office, but [...]
Monte dei Paschi shares plunge on government bailout fears as Renzi expected to leave by Thursday December 6, 2016 Shares in Italian bank Monte dei Paschi di Siena fell as much as five per cent as doubts surround the possibility of a private-sector bailout for the struggling bank. Meanwhile, Italy's senate will vote on a budget for 2017 on Wednesday, paving the way for Prime Minister Matteo Renzi to formally step aside by Thursday, [...]
UK commercial property remains at risk of further losses says Bank of England December 6, 2016 The UK’s commercial real estate sector remains at risk of further losses according to the Bank of England (BoE), as the vote to leave the European Union continues to leave its mark. The BoE’s Financial Policy Committee (FPC) said “there was the risk of further adjustment in the sector” which could create knock-on risks for [...]
Eurozone GDP stays steady on 0.3 per cent in third quarter December 6, 2016 The Eurozone economy grew by 0.3 per cent in the period after the UK's Brexit vote, as some of Europe's most vulnerable economies accelerated slightly. Greece and Portugal both grew by 0.8 per cent in the third quarter, with the former doubling its growth rate from the second quarter. Portugal's growth rate accelerated even faster, [...]
Bank of England: Households will struggle to pay debts if interest rates rise December 6, 2016 UK households could struggle to meet debt repayments if interest rates rise, according to the Bank of England, as it confirmed the conclusions of last week's financial stability report. The Bank said "risk of a further sharp adjustment in fixed income markets remained” owing to the global economic environment. The minutes of the bank's Financial Policy Committee [...]
London number one as it beats Paris and Berlin to top Europe’s tech hotspots December 5, 2016 London is leading the way among cities in Europe for technology companies, with the booming sector set to outperform other industries over the next four years despite the vote to leave the European Union, according to a new ranking. The capital beat Paris and Berlin into second and third places respectively, while the broader Thames [...]
