UK home-buying stays solid in November but consumer credit rises by highest amount since 2005 says the Bank of England January 4, 2017 British house purchase numbers stayed flat in November, but still remained steady above pre-referendum levels, while UK consumer borrowing increased by the most since March 2005. UK banks approved 67,505 mortgages in November, compared to 67,371 in October, according to the Bank of England (BoE), but remortgaging levels rose to the highest levels since October [...]
China’s manufacturers’ confidence sends PMI to almost four-year high, boosting Asian shares January 3, 2017 Confidence in China’s manufacturing sector rose sharply above expectations in December, with the widely followed purchasing managers’ index (PMI) reaching an almost four-year high. Stocks across Asia gained in response to the surprise increase. The Shanghai Stock Exchange Composite Index rose by 1.04 per cent on Tuesday, while the Hang Seng – a measure of [...]
With diverging monetary policy and more political uncertainty, should investors expect 2017 to be the year that growth makes a comeback? January 3, 2017 This year is being heralded as a new dawn for markets. The economic malaise which has dogged developed economies since the financial crisis will finally subside; the battle against deflation has been won; fiscal stimulus is firmly on the agenda, and real growth will return. Such optimistic assessments may prove to be on the money. [...]
Will 2017 be one of the best years ever for the United Kingdom? January 3, 2017 Alex Deane, a City of London common councilman, says Yes. We live in a great country – and what’s even better is that our best days lie ahead of us. When historians write the book on 2016, it will be seen as the year in which – despite the doomsaying pronouncements from some who were [...]
Investment trust winners of 2016 December 29, 2016 Investment trusts focused on Asia are on course to deliver some of the best returns in 2016, according to data for trust sectors. Investment trusts are an alternative to more commonly held open-ended funds or unit trusts, offering some advantages. This is explained here: investment trust v open-ended funds Here, we look at the performance [...]
From Brexit to Trump, interest rates to the steel crisis, these are the pictures that defined business in 2016 December 28, 2016 Let's face it, a lot's happened this year. 2016 was the year that brought us surprise, seismic political changes, pushed commodities markets through yet more turbulence and took down another stalwart of the British high street. @afneil If you're at a Quiz in the future and the question starts 'Which year did . . ' [...]
A sign of things to come? Mortgage approvals fall in November, although consumers are still borrowing at ultra-low rates December 28, 2016 Mortgage approvals are nine per cent lower than the same point last year, but UK consumers were still borrowing to power the economy in the five months after EU referendum. The number of house purchase mortgage approvals fell slightly in November to 40,659, down from 40,835 in October, according to the British Bankers’ Association (BBA), [...]
UK could save nearly £40bn a year by leaving single market and customs union, claims pro-Brexit campaign group December 27, 2016 The UK could save nearly £40bn a year if it left both the European single market and customs union in a "clean Brexit", pro-leave group Change Britain has claimed in a new report. Change Britain, which is backed by a host of former Leave campaigners including Michael Gove, Nigel Lawson and Gisela Stuart, says cutting loose [...]
The UK must leave the EU Single Market if it is to realise Brexit opportunities says Mervyn King December 26, 2016 Leaving the European Union offers “real opportunities” for the UK – as long as it is outside the Single Market – according to former Bank of England governor Mervyn King. Lord King also said the UK should be more “self-confident” in its approach to leaving, while saying that immigration controls were non-negotiable. “There are many [...]
British businesses shrug off post-Brexit vote gloom as confidence hits highest level since June – although skills shortages are now a concern, says IoD December 26, 2016 British businesses are positive about the outlook for 2017, with confidence for the year ahead reaching its highest level since the vote to leave the European Union, according to a new survey. However, concerns remain, with the country’s economic situation and and a tightening labour market casting a pall, according to the poll by the [...]