The end is near for Norway’s housing boom November 5, 2013 Norway's prolonged housing boom may be coming to an end according to Capital Economics. The London-based consultancy believes that a total collapse in house prices is unlikely, but the slowdown in the housing market suggests the economy may deteriorate more than had been expected. Annual Norwegian house price inflation fell from 8.4 per cent to [...]
Services PMI rockets to 62.5 – its highest for 16 years November 5, 2013 The UK's services industry has seen a huge boost, with services PMI for October flying past expectations at 62.5 – the highest rise in activity since May 1997. Expectations were 60.4, from September's 60.3. The sharp rise was supported by a strong increase in new work, with backlogs of work and employment both increasing markedly. [...]
Energy bosses under pressure as Centrica’s Laidlaw gives up bonus November 4, 2013 THE CHIEF executive of British Gas-owner Centrica yesterday vowed to forego his bonus if he is offered one this year, piling pressure onto his fellow big six bosses to follow suit in the wake of an ongoing row over fuel bills. Speaking at the CBI Conference, Sam Laidlaw said that he understood customers’ frustrations and [...]
Centrica boss pledges not to take bonus this year November 4, 2013 Sam Laidlaw, the chief executive of Centrica, has pledged not to take his bonus for this financial year. Speaking at the Confederation of British Industry, Laidlaw admitted public trust in the energy industry is at an all-time low. His promise, made as part of a debate on "Business Trust Under the Spotlight" responds to the [...]
Britain will prosper in a reformed Europe says Balls November 4, 2013 Ed Balls has just spoken for the first time at the Confederation of British Industry's annual conference. He stressed the importance of Europe to the UK's economy and the work Labour would do differently in 2015 – from tougher energy regulation to impartial investment in infrastructure. The shadow chancellor kicked off by saying that, although [...]
Risk aversion threatens to dampen economic recovery November 3, 2013 AS THE great and the good of UK business congregate for the CBI’s Annual Conference today, the atmosphere is likely to be much more upbeat amongst business leaders compared to last year. This is understandable. Business confidence in the UK has soared over the last 12 months and executives are now more confident about the [...]
We must stop using water bills as a limitless environmental credit card October 31, 2013 WHILE all attention has been focused on rising energy bills, Britain’s water industry is facing its own troubles – with its recent history characterised by drought orders, hosepipe bans, and tariff hikes. But the efficiency of the UK water supply is an issue that can no longer be ignored. There is new management at water [...]
Energy bosses: We’ll cut bills if you cut taxes October 29, 2013 THE GOVERNMENT faced mounting pressure to reform its green policies yesterday after bosses from Britain’s largest energy companies promised that cutting the levies would be passed on to customers via lower bills. Executives from the big six energy firms were grilled by MPs on the Energy and Climate Change Committee as to why electricity and [...]
Smart cities have arrived and the potential is huge October 29, 2013 THE PROPORTION of people living in the world’s cities passed 50 per cent for the first time in 2008. And just 600 cities accounted for about 60 per cent of economic growth in 2011, according to McKinsey. While a third of the developed world’s cities are expected to drop out of the top 600 by [...]
Rising fuel costs: The real trigger behind the 2008 subprime crisis October 29, 2013 FIVE years on, and academics and journalists are still attempting to explain the US subprime loan crisis that, in September 2008, caused the collapse of Lehman Brothers and apparently triggered the global economic crisis. But an important factor in understanding what happened is missing: energy prices. In November to December 1998, a barrel of oil [...]