Pound plummets to lowest value against the US dollar since 2009 January 19, 2016 The pound has fallen to its lowest value against the US dollar since 2009. Sterling rose in the morning to a value $1.43257 before Bank of England chief Mark Carney said now was not the time to raise interest rates. Carney also signalled he was some way off from voting for a rate hike. The pound [...]
Eurozone construction jumps in November January 19, 2016 Construction in the Eurozone jumped 0.8 per cent in November compared with the month, adding to the evidence that the economy of the currency-bloc is picking up speed. Compared with the same month last year, construction was up 2.1 per cent, the figures released this morning by Eurostat, the statistical office of the EU, show. While [...]
Oil prices: Brent crude inches above $30 per barrel January 19, 2016 Oil prices rose above the $30 per barrel mark today, as traders weighed mixed messages from global oil markets. Brent crude, the global benchmark, jumped as much as five per cent to above $30 per barrel today. Meanwhile, West Texas Intermediate (WTI) crude, the US benchmark, rose 1.8 per cent to $29.96. It came as data [...]
Sterling’s gains wiped as Bank of England governor Mark Carney says now is not the time for an interest rate hike January 19, 2016 The pound lost over half a cent against the dollar today, erasing earlier gains, as Bank of England governor Mark Carney said now is not the time to raise rates. Last summer Carney said the decision on whether to raise interest rates from record lows "would likely come into sharper relief around the turn of the year." "Well [...]
Eurozone inflation climbs to highest rate since July January 19, 2016 Annual inflation in the Eurozone rose to 0.2 per cent in December, according to figures released this morning. December's inflation rate is the highest since July with November's inflation rate revised down to 0.1 per cent from 0.2 per cent. The figures from Eurostat, the statistical office of the European Union, confirm an earlier estimate of [...]
So much for the winter lull: UK house price growth jumps again in November January 19, 2016 UK house prices grew 7.7 per cent in the year to November, up from seven per cent the month before, as people rushed to buy homes before interest rates rise. The east of England led the charge, with price growth of 10.2 per cent, while prices in the south east and London rose 9.8 per [...]
IMF has cut its global growth outlook due to China, the US dollar and geopolitical tensions January 19, 2016 The International Monetary Fund (IMF) has cut its global growth forecast for this year by 0.2 percentage points to 3.4 per cent, citing risks relating to the emerging markets. It comes amid a medley of risks which includes a sharper-than-expected slowdown in China, the impact of a strong dollar on the US economy and geopolitical tensions in a [...]
UK is one of the top 10 countries for attracting skilled migrants – but lack of vocational training and gender pay gap is holding it back January 19, 2016 The United Kingdom has been ranked seventh in the world for attracting skilled migrants, ahead of Germany and France – but behind the United States. According to research due to be unveiled today at Davos by Adecco Group, Insead and the Human Capital Leadership Institute, Switzerland is most able to attract, develop and retain highly-skilled workers, while the UK maintains its [...]
Chinese growth falls to 25-year low – but markets shrug it off January 19, 2016 They say forewarned it forearmed, and Chinese markets seemed to agree last night, after they shrugged off potentially devastating growth figures. The country reported gross domestic product (GDP) growth of 6.9 per cent in 2015, the slowest pace of annual growth since 1990. But while the figure was disappointing, it was broadly in line with [...]
Why China’s devaluation of the yuan is good for the UK January 19, 2016 The UK knows only too well what it means to have an overvalued currency – sterling’s strength has dulled the competitiveness of the UK’s export-oriented manufacturing industry for decades. Even though the UK earns around 30 per cent of its GDP from exports, the continuously large trade deficit on goods means that overall trade is [...]
