Academic paper says “flash crash” trader Navinder Singh Sarao not the cause of 2010’s sudden market drop January 28, 2016 A research paper published online earlier this week by three US-based academics claims that May 2010's "flash crash" had little or nothing to do with the actions of a British trader accused of contributing to the sudden market drop. The study, which is entitled The Flash Crash: A New Deconstruction, concludes that it is "highly unlikely" the crash [...]
Brent and WTI crude: Oil prices jump on hopes Opec and Russia will cut production January 28, 2016 Oil prices jumped today on hopes that some of the world's biggest oil producers could finally cut production in response to plummeting prices. Brent crude, the international benchmark, jumped 5.47 per cent to $34.91 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, rose 5.82 per cent to $34.18. Russian energy minister, Alexander Novak, said today [...]
Employers not doing enough to support older workers who want to modify work commitments before they fully retire January 28, 2016 Businesses do not have enough retirement-friendly policies in place, scuppering people's plans to keep working for longer. According to a report released today by the Aegon Center for Longevity and Retirement (ACLR) and the Transamerica Center for Retirement Studies (TCRS), more than half (56 per cent) of workers from around the world foresee that they will [...]
Libor scandal trial: All six defendants cleared after sixth broker acquitted by jury, as case is branded a “shambles” January 28, 2016 Former ICAP broker Darrell Read has been acquitted of accusations related to manipulating the London Interbank Offered Rate (Libor), as the decision to bring the case was slammed. Yesterday, the jury acquitted five other ex-brokers and determined that Read was not guilty on one count of charges against him, although it was yet to reach a decision on [...]
Don’t be late: Self-assessment tax return deadline date is Sunday 31 January, so here’s a list of things you might want to know about avoiding that £100 late filing penalty January 28, 2016 We hope you've marked this Sunday 31 January in your diary – it's filing deadline day for self-assessment tax returns. But, if you need a break from your yearly paperwork, why not distract yourself with these seven facts about self-assessment? 1. It seems endless battles with train delays have left capital dwellers with a warped sense [...]
UK fourth quarter GDP: Economy grows 0.5 per cent in the fourth quarter January 28, 2016 Britain's economy picked up slightly in the last three months of 2015 – but gross domestic product (GDP) growth fell sharply on an annual basis, figures published this morning showed. The Office for National Statistics (ONS) said UK GDP rose 0.5 per cent in the fourth quarter, in line with economists' expectations, and up from 0.4 per cent in the [...]
London house prices: Housebuilding hit its highest in eight years in 2015 – but new home registrations fell in London, says NHBC January 28, 2016 Londoners, hold on tight: the housing crisis is getting worse. Figures from the National House Building Council (NHBC) showed the number of new homes registered in the capital actually fell last year – despite a raft of government measures aimed at easing pressure on the housing market. The figures, published this morning, showed 25,994 new homes [...]
Japanese economy minister Akira Amari resigns after denying bribery allegations January 28, 2016 Japanese economy minister Akira Amari has stepped down after he was accused of receiving bribery from a construction company. The BBC reported Amari told a news conference: Japan is finally emerging from deflation … We need to pass legislation through parliament for steps to beat deflation and create a strong economy as soon as possible. Anything [...]
Bank shares overvalued as Eurozone leans on Germany and France struggles January 28, 2016 Most European bank shares are overvalued, according to more than half (54 per cent) of UK fund managers polled by accountancy giant EY. German banks managed to buck the trend however, with two-thirds of managers polled believing them to have the best growth prospects in Europe. On top of that, 80 per cent rated the [...]
Libor scandal: Serious Fraud Office has “serious questions” to ask itself after five of six brokers accused of rigging Libor acquitted on counts of conspiracy to defraud January 28, 2016 Five brokers accused of conspiring with Tom Hayes to fix Libor were acquitted yesterday, dealing a blow to the Serious Fraud Office's clampdown on financial misconduct. A jury at Southwark Crown Court acquitted Colin Goodman and Danny Wilkinson, who both used to work at ICAP, Noel Cryan, formerly of Tullett Prebon, and Terry Farr and James [...]
