Make £££ interest on top current accounts this year August 17, 2016 Savers have been dealt a double whammy of blows this month. The Bank of England cut interest rates from their already-record low of 0.5 per cent down to a paltry 0.25 per cent, which is likely to have an impact on the already poor levels of interest paid on savings accounts. The 0.5 level was considered [...]
Oil somersaults after disappointing US inflation data August 16, 2016 Crude turned negative before recovering slightly this afternoon, after disappointing US inflation data shattered the brighter sentiment which had helped it to a five-week high earlier in the day. Brent crude, the global benchmark, slipped 0.40 per cent to $48.16 (£37.11) per barrel on London's ICE Futures Exchange, before paring losses to trade at about $48.52. West Texas Intermediate crude on [...]
US Federal Reserve frozen by weak US inflation as price rises slip back August 16, 2016 Inflation slipped back in the US economy in July, further easing the pressure on the US Federal Reserve to hike interest rates. The consumer prices index (CPI) came in at 0.8 per cent in July, on a non-seasonally adjusted basis, in figures released by the US Bureau of Labor Statistics this afternoon. That was down from [...]
Justin Rose’s duel with Henrik Stenson was the perfect result for Olympic golf chiefs August 15, 2016 Newly-crowned Olympic champion Justin Rose wouldn’t have been the only person delighted with how golf’s return to the Games after more than a century’s absence unfolded over the last few days. After a difficult build-up to the event featuring a spate of withdrawals, organisers could not have hoped for a better outcome than a Major [...]
Oil prices hit one-month high as Opec flirts with freeze August 15, 2016 Crude hit a one-month high today, on rising hopes that some of the world's biggest oil producers will help markets which have been drowning in oversupply for the last two years. Brent crude, the global benchmark, swelled 1.66 per cent to $47.75 per barrel on London's ICE Futures Exchange this afternoon, having hit 47.87 earlier in the day. Its US [...]
Nuclear and renewables might keep the lights on – but nothing beats Britain’s home grown gas August 15, 2016 In the wake of the delay to signing the Hinkley C contract, there has been heated debate about nuclear and the gap left when coal-fired power stations are decommissioned. I’m a great supporter of both renewable and nuclear electricity as part of the energy mix. However, for the UK to meet its climate targets by [...]
US dollar fades as retail sales stagnate and send sterling back above $1.30 August 12, 2016 The US dollar has sunk after fresh economic data showed the recovery stumbled in July. Retail sales flat-lined in the world's largest economy in July and factory prices defied expectations to fall into negative territory. The pound climbed back above $1.30, up 0.5 per cent on the day, reversing some of the losses from earlier this [...]
Rare Pokemon mean prizes in Canary Wharf August 9, 2016 Office managers in Canary Wharf can blame the Canary Wharf Group if some staff members have been spending even more time playing Pokemon Go this week. The group that oversees development of the Wharf is tempting workers to ditch their duties by offering rewards for those who hunt down and share tweets of rare Pokemon [...]
11 business podcasts you need to listen to on your summer holiday August 9, 2016 Podcasts are becoming an increasingly popular medium – partly thanks to the success off the likes of Serial, but also because they're one of the easiest ways to take in information. Looking for something to listen to on the beach? Look no further… 1. TedTalks Business A classic but a goodie, Ted has built up [...]
FTSE 100 charges towards 14-month high as miners gains August 8, 2016 The FTSE 100 charged higher this morning, as miners clambered towards the top of the index. It was 0.46 per cent higher to 6,822.53 points this morning, after hitting a one-year high on Friday. It had been buoyed by a BoE interest rate cut, £70bn of additional quantitative easing and a new round of cheap loans which could pump £100bn of [...]