US economy suffering winter blues as business survey data points to stagnation February 15, 2016 The US economy is currently stagnating, according to business survey figures released today. The sales managers’ index (SMI) compiled by World Economics dropped to a score of 50.8 in February from 51.1 last month. Scores above 50 imply the economy grew compared with the month before, with February’s score pointing to very sluggish growth. Business [...]
UK house prices: Help to buy has boosted the number of houses built and first-time buyers – but it’s not inflating prices, claims government report February 15, 2016 Suffering from misgivings about whether help to buy is really the panacea the government claims it is? A new report published this morning claims it has boosted both house building and first-time buying – but it has not artificially boosted prices. And the report has been published by… er… the government. The equity loan scheme, [...]
Thousands of steelworkers to protest in Brussels for EU action against Chinese dumping February 15, 2016 More than 5,000 European steel workers are expected to gather together to protest in Brussels today, to coincide with a conference on the future of EU steel. The industry is urging EU leaders to stop Chinese 'dumping' of cheap steel, which it argues is giving the Asian superpower an unfair advantage and is putting thousands [...]
Eurozone exports climb five per cent in 2015 as sales to the US soar February 15, 2016 The value of goods and services exported by the Eurozone climbed by five per cent last year compared with 2014. The currency-bloc sold €167.5bn (£129.6bn) of goods to the rest of the world in December, taking the 2015 total to €2.04 trillion, according to data released this morning by Eurostat, the statistical office of the EU. [...]
Gold price dips as European and Asian equities recover February 15, 2016 Don't buy gold. The price of the precious metal fell this morning, as investors flocked back to equities following a rally in Asia. Gold futures fell 2.4 per cent to $1,209 this morning. Last week it peaked at $1,255, – having risen above $1,200 for the first time since June 2015 as global equities plummeted. Meanwhile, this morning FTSE 100-listed [...]
Greed is not so good: Britain’s bankers are more stressed than ever February 15, 2016 It might be time to feel sorry for Britain's bankers. Apparently turning into social pariahs after the financial crisis has taken its toll on their mental health. Demand for insurance to protect revenues against the cost of paying staff who are too stressed to work has surged, according to data from financial services group Willis [...]
Russia: Better Iran-Saudi Arabia ties will help oil prices February 15, 2016 Russia has indicated it would like to see better relations between regional rivals Iran and Saudi Arabia, at a time when oil markets are awash with speculation of a production cut deal. A senior official at Russia's foreign ministry, Zamir Kabulov, reportedly said that this would help oil prices, which have fallen to around $33 per [...]
Chinese markets including Shanghai Composite and Shenzhen Composite trade slightly lower after New Year break as Japan’s Nikkei jumps over seven per cent and ASX 200, Hang Seng and Kospi rise February 15, 2016 There were no post-New Year fireworks from China as its markets opened for the first time since the break with the disappointment of poor trade data. Trading for the first time since 5 February, the Shanghai Composite traded 0.63 per cent lower at 2,746 points, while the Shenzhen Composite traded 0.05 per cent lower at 9,668 points. [...]
Billions wiped from the value of the oil and gas industry February 15, 2016 The oil and gas industry has splurged £10bn over the past 12 months in an attempt to protect dividends, according to new research from trading house Banc De Binary. The value of cash and assets held by oil and gas companies listed on the London Stock Exchange has plummeted from £151.8bn this time last year [...]
UK Steel crisis: Industry in showdown with European ministers as top bosses march in demonstration February 15, 2016 The European steel industry and governmental ministers are set for a showdown later today over how best to implement higher tariffs on foreign steel imports. Industry leaders are demanding that more is done to help Europe's steel sector survive, while European ministers claim removing the so-called lesser duty rule, which seeks to apply the lowest possible [...]
