Brent crude and WTI: Oil prices fall further as oversupply concerns grow February 25, 2016 Oil prices fell further today after new data stoked concern that the supply glut is continuing to build against a backdrop of slowing global growth. Brent crude, the global benchmark, added to earlier losses shedding 1.69 per cent to $33.83 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, fell 2.27 per cent to $31.42. U.S. government data showed [...]
Eurozone money supply and lending pick up in January February 25, 2016 Lending and money supply growth in the Eurozone picked up in January, according to figures published by the European Central Bank this morning. Borrowing by households climbed 1.4 per cent compared with the same month last year, the same rate as in December. However, lending to non-financial corporations bounced back to 0.6 per cent growth from 0.1 [...]
As regulation and legal red tape increases, are professionals in the city and financial services becoming the scapegoats? February 25, 2016 Since the 2008 financial crisis, banks and other City organisations have faced a more intense glare from the spotlight of regulators. Record penalties have been handed out, such as the $5.6bn in fines imposed on some of the most well-known global banks in relation to foreign exchange manipulation early last year. Some banks have reacted to this increased [...]
S&P: Russian economy is heading for a second year of recession in 2016 February 25, 2016 Credit ratings agency Standard & Poor's has warned that the Russian economy is on course for a second year of recession, as commodity prices continue to career lower. S&P predicts that the Russian economy will shrink by 1.3 per cent in 2016, as opposed to the 0.3 per cent growth it had previously forecast. It also [...]
House building is accelerating but one estate agent says it is unlikely to help young buyers February 25, 2016 House building in England picked up toward the end of last year, but remains substantially below pre-recession levels. Builders started work on 37,080 new properties in the three months to December, the Department for Communities and Local Government said this morning. It marks a six per cent increase on the previous six month period but [...]
Eurozone inflation edges up to eight-month high in January as impact from cheap oil starts to wear off February 25, 2016 Eurozone inflation hit an eight-month high in January as the impact of cheaper oil prices began to wear off. Annual price inflation hit 0.3 per cent, EU statistical office Eurostat said this morning. While the inflation reading was slightly lower than a previous estimate of 0.4 per cent, it is the highest annual price growth [...]
More and more people are planning ahead for their death by looking for ways to cover funeral costs February 25, 2016 More and more people are planning ahead for the financial costs of their final days, according to analysis from a funeral plan provider. According to Golden Charter, the number of sales for pre-paid funeral plans shot up by nearly 25 per cent in 2015. Collectively across the UK people now hold more than a million pre-paid [...]
Fed Reserve Bank of St. Louis: Why oil prices could fall to zero by mid-2019 despite markets predicting $50 per barrel February 25, 2016 One calculation suggests oil prices could fall to zero by mid-2019. Two St. Louis Fed analysts looked at how low oil prices could fall given tumbling inflation expectations, and found it's largely out of whack with market expectations for the black stuff to recover to $50 per barrel in around three years' time. "According to our calculations, oil prices would [...]
The 10 locations where homes earn more than you because house price growth is higher than wages February 25, 2016 Time to give up the day job? If you live in some of these locations, that might just be a possibility because your home is earning more than you. Three Rivers, Harrow and Greenwich are the three locations where rising property prices outstripped average earnings more than anywhere else. The spots in Hertfordshire and north west London earned almost [...]
Meh: UK GDP growth unchanged for the fourth quarter of 2015 February 25, 2016 UK GDP growth was 0.5 per cent in the fourth quarter of last year compared with the same period in 2014, according to a second estimate by the Office for National Statistics (ONS) – bang on expectations, and the same as previous estimates. The ONS said that while there had been speculation the figure could [...]
