UK interest rates to stay at record low but another hawk could appear October 5, 2015 The UK’s rate-setters are widely expected to hold fire on interest rates when they meet this Thursday, but the door is open for at least one more member of the nine-strong committee to dissent than last time around. Last month saw the Bank of England’s monetary policy committee vote eight to one to hold [...]
After five years the Trans Pacific Partnership deal is nearing completion October 4, 2015 After five years of negotiations the Trans Pacific Partnership (TPP) between the US and 11 other countries is finally nearing competition following a key breakthrough. The US and Australia made major progress on a conflict over how long a monopoly pharmaceutical companies should be given on new biotech drugs. However officials said that this still needs [...]
Prime minister David Cameron refuses to rule out Brexit ahead of referendum if renegotiation efforts fail October 4, 2015 Prime Minister David Cameron has refused to rule out campaigning for a "Brexit" if he fails to renegotiate Britain's ties with the European Union (EU). "If I don't get what I want then I rule nothing out," he told the BBC when asked if he would be ready to lead UK out of the single [...]
Grandparents will be able to take paid shared parental leave to look after grandchildren, George Osborne announces October 4, 2015 New parents will be able to share their paternity leave with grandparents under new plans to be announced by the chancellor. Grandparents who are in work will be able to take on childcare for newborns so that parents can return to work, but will pick up paternity leave benefits for doing so. Up to 52 weeks [...]
Non-farm payroll: Weak US jobs growth pushes back rate hike expectations October 2, 2015 Lacklustre US jobs growth has stoked concerns over the strength of the US economy and could push back expectations for a widely-anticipated rate hike. The Bureau of Labour Statistics said that the US economy added 142,000 jobs last month, below economists' estimates for 201,000. The August reading was also revised sharply downwards from 170,000 to 135,000. [...]
From the Chinese economy to a US rate rise: Why hot money is pouring out of emerging markets October 2, 2015 China's slowing economy. alongside a looming US rate hike, is creating a headache for emerging markets. Investors feeling the heat are set to pull around $540bn (£355bn) of cash out of emerging markets economies this year, as net flows turn negative for the first time since 1988. Residents sending cash out of the emerging markets has [...]
High stamp duty on prime property may prove self-defeating for the government October 2, 2015 In the days that followed the Conservative Party victory in May, the widely-held assumption was that normal service would resume at the prime end of the London housing market with double-digit annual growth. It was a proposition that never looked likely for several reasons, the principal one being a rise in stamp duty last [...]
Oil price pushed up by escalating tensions in Syria October 2, 2015 The price of oil has risen for the second day in a row, pushed up by an escalation of military action in Syria. In early trading, WTI was up at $45.67 per barrel – a 2.1 per cent increase from yesterday, while Brent was 1.5 per cent higher at $48.39 per barrel. Today, [...]
London house prices: The capital’s most exclusive homes are going for bargain prices October 2, 2015 Another day, another sign the top end of London's property market is in the doldrums, after figures by Knight Frank showed house prices in the capital's most exclusive areas grew just 1.3 per cent in September on the same month last year. That's the lowest rate of growth since October 2009 – and in some [...]
UK construction PMI: Housebuilding increases at its fastest pace in a year October 2, 2015 Housing crisis? What housing crisis? Demand may be vastly outweighing supply in the UK's housing market at the moment – but the signs are looking increasingly encouraging, after new figures showed the UK's construction sector had one of its best months of the year in September, with growth hitting a seven-month high and – housebuilding [...]
