Here’s how the UK’s business leaders really feel about Brexit May 9, 2016 From makers of scotch whisky to the nation's bank bosses, by now there aren't many groups who haven't let their views on the UK's membership of the European Union be known. But now the leaders of 1,224 businesses have added their voices to the chorus – after the Institute of Directors asked its members how they [...]
Week ahead: Bank of England rate decision and China data in focus May 9, 2016 Economic data will once again be in focus this week with the Bank of England (BoE) interest rate decision and its inflation report due on Thursday. Expectations for an interest rate hike are almost non-existant though the tone of governor Mark Carney’s remarks will be closely scrutinised for any clues on the current economic landscape. On [...]
UK companies are increasingly worried about the economy – but want to do lots of M&A deals May 9, 2016 UK businesses are increasingly pessimistic about the economy – but hungry to complete deals. A new EY study found confidence in the mergers and acquisitions (M&A) market has eased back on levels seen at the end of 2015, a record year for announced deals. But the 14th Global Capital Confidence Barometer found UK executives' M&A appetite [...]
Police and protesters clash in Greece as politicians pass new austerity measures May 8, 2016 Police and protesters clashed this evening before Greece's parliament passed a new austerity package. The tax and pension reforms will enable the country to receive more international bailout money. Some of the protesters outside the country's parliament in Athens threw petrol bombs at police, who responded with stun grenades and tear gas. Read more: Europe to Greece: You're [...]
Bank of England expected to issue more Brexit warnings this week May 8, 2016 The Bank of England is expected this week to issue more warnings over the EU referendum. Governor Mark Carney has repeatedly cautioned over the potential impact over a so-called Brexit. And more warnings are on the cards this week, with the Bank publishing its inflation report on Thursday. Read more: Britain won't take a pounding if it goes [...]
EU referendum: George Osborne warns Brexit will hit Britain where it hurts – property prices May 8, 2016 George Osborne has warned that the nation's homeowners face a double whammy drop in house prices and a rise in mortgage costs if Britain votes to leave Europe. "It’s already clear from the Treasury analysis that for example, there would a significant shock to the housing market, that would hit the value of people’s homes, that would hit the cost [...]
US job openings growth was way lower than expected in April May 6, 2016 Job openings in the US slid back more than expected in April, figures published today showed – after one of the country's weakest quarters in years. The non-farm payroll figure fell to 160,000, against analyst consensus of 200,000 Last month's figures showed an unexpected rise in joblessness – although the number of job openings beat expectations. [...]
Does blaming slower growth on the EU referendum just mask deeper problems with the UK economy? May 6, 2016 James Sproule, chief economist at the Institute of Directors, says Yes. Economic data seem to suggest that UK businesses and consumers alike are holding back on long-term commitments as they are worried about the EU referendum. Quite possibly, but this is only part of the story. Economic slowdown is not just affecting the UK, it seems [...]
Saudi Aramco raises oil prices into Asia in biggest hike for more than a year May 5, 2016 Saudi Aramco, the Saudi Arabian state-owned oil company, is hiking oil prices into Asia in the biggest rise for over a year. Aramco, which recently announced that a five per cent listing of its shares later this year would value it at around $2 trillion, said today it will raise its official selling price for benchmark Arab [...]
Before the bell: What you need to know before the US market open May 5, 2016 Oil has steamed ahead so far today, with West Texas Intermediate crude oil higher by three per cent at $45.70 a barrel after wildfires in Canada, as well as fighting in Libya dragged on production. International benchmark Brent crude added 2.6 per cent to $45.75 a barrel. Yesterday the latest US inventories posted a higher than expected addition to stockpiles [...]
