The OECD becomes the latest in a long line of forecasters to downgrade UK GDP growth prospects after EU referendum November 28, 2016 UK growth will fall sharply in 2017 as uncertainty following the vote to leave the European Union weighs on Britain’s prospects, according to an influential intergovernmental trade group. Real GDP growth will decline from two per cent for this year to 1.2 per cent in 2017 and one per cent in 2018, according to the Economic [...]
The FTSE fell sharply at the open as bank stocks slid and Opec spooked oil markets November 28, 2016 The FTSE 100 is recovering slightly after posting a sharp fall at the open on Monday, as oil and bank stocks weighed on the index. The Bank of England is set to announce the results of its stress tests for UK banks on Wednesday. The stress tests investigate how the banks would fare in a [...]
The dollar has continued to weaken from 13-year highs to boost the yen and the euro November 28, 2016 A weakening dollar has fallen by over one per cent against the yen in early trading on Monday. The dollar had traded at its highest level since the Iraq war last week on the back of the so-called “Trumpflation” trade. The dollar index against a basket of currencies fallen by more than 0.6 per cent [...]
Planning permission could soon be granted for the City of London’s highest skyscraper at 1 Undershaft November 27, 2016 A decision on planning permission for what would be the City’s tallest building is expected soon from the City of London Corporation. If it is approved, the tower at 1 Undershaft will be situated at the heart of the City’s cluster of skyscrapers, slotting between the Leadenhall Building and 30 St Mary Axe – known [...]
Ladbrokes Coral could be in line to table a £2bn bid for Australian betting company Tabcorp November 27, 2016 Ladbrokes Coral Group could be in line to launch a bid for Australian betting company Tabcorp, in a deal worth over £2bn. Advisers for the bid have been hired, according to reports in the Mail on Sunday. Ladbrokes Coral Group declined to comment. Tabcorp, which reported a market capitalisation of AU$3.8 (around £2.3bn) in its [...]
Switzerland has voted against plans to abandon nuclear power by 2029 November 27, 2016 Switzerland has rejected plans to quickly phase out nuclear power generation. Voters went to the polls in a referendum today to vote on whether to limit the age of nuclear power stations to 45, effectively banning them by 2029. Swiss voters were projected to have rejected the plans by 54 per cent to 46 per cent, [...]
House of Fraser CEO Nigel Oddy has resigned after less than two years at the helm as Christmas trading looms November 27, 2016 House of Fraser chief executive Nigel Oddy has resigned less than two years after taking up the post, leaving the retailer hunting for a new boss at the start of the vital Christmas trading period. Oddy will leave at some point in the new year once the company’s board has found his replacement, the company confirmed. [...]
Euro and pound get a Thanksgiving relief from the stronger dollar November 24, 2016 The euro is enjoying a small rally on as the US celebrates Thanksgiving, after it hit its lowest level since March 2015 against the US dollar, still riding high as investors continue to adjust in post-election market turmoil. The pound held off the dollar in Thursday’s trading to rally slightly back towards $1.25 while US traders are on holiday. [...]
“We have certainly not seen a period remotely like it in the last 70 years”: Think tank’s dire warning on wage growth November 24, 2016 The director of one of the UK's most respected think tanks has issued a dire forecast about UK wage growth, warning workers are in the middle of more than a decade of stagnant wages. In a highly emotive release, Paul Johnson, director of the Institute for Fiscal Studies (IFS), said its projections suggested real wages [...]
