Oil prices post record jump after attack on Saudi Arabia supplies September 16, 2019 Oil prices rocketed almost 20 per cent to more than $71 a barrel today after the US accused Iran of gutting half of Saudi Arabia’s oil production in a strike on two refineries over the weekend. Brent crude trimmed its record-breaking gains but its price still blew up 10.5 per cent to $66.56. World (WTI) [...]
Ignore the doom-and-gloom headlines – people keep getting happier September 16, 2019 The news gives us plenty to worry about these days. From trade wars to political polarisation, the world seems full of risks. It is therefore perhaps surprising that – as far as we can tell – people are getting happier. The Office for National Statistics (ONS) surveys 150,000 people in the UK every year, and [...]
UK house prices see first September fall for nine years September 16, 2019 UK house prices have witnessed their first September fall since 2010, according to a closely-watched gauge, as Brexit uncertainty continues to dampen sales. The average price of property coming to market fell by 0.2 per cent in September, the house price index from real estate website Rightmove showed. “As we approach yet another Brexit deadline, [...]
Business groups say Brexit impasse hurting firms and growth September 16, 2019 Two British business groups have warned of the damaging effect of the Brexit impasse on UK firms and predicted lower investment and growth. The British Chambers of Commerce (BCC) today downgraded its growth forecast for Britain and predicted that business investment will plummet 1.5 per cent this year and fall 0.1 per cent in 2020. [...]
Local Government Pension Scheme under pressure to drop active fund managers September 14, 2019 The Local Government Pension Scheme (LGPS) has said it is under pressure from government officials to switch to passive management after the suspension of the Woodford Equity Income fund in June. LGPS, which is the largest public-sector pension scheme in the UK with almost 6m members, has 60 per cent of its holdings in active [...]
Don’t let the socialists win the argument – capitalists have solutions to inequality too September 13, 2019 Inequality is a hot topic, yet those of us who support free markets are often dismissive of the issue. We (rightly) point out that the most important thing is economic growth – the key driving force behind increasing prosperity for everyone. However, free-marketeers are wrong to see concerns over inequality as the preserve of those [...]
Donald Trump lashes out at ECB over euro’s fall September 12, 2019 US President Donald Trump has reacted furiously to the euro’s fall against the dollar following the European Central Bank’s (ECB) decision to cut interest rates for the first time in over three years. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero The euro fell as much as 0.7 per cent following [...]
ECB turns stimulus taps back on with first rate cut in three years September 12, 2019 The European Central Bank (ECB) has unveiled a major stimulus package as it seeks to revive an ailing Eurozone economy, cutting interest rates for the first time in three years and restarting its giant bond-buying programme. Read more: German to tumble into recession, says Ifo think tank However, in his penultimate rate-setting meeting as ECB [...]
Eurozone industrial production drops again in July September 12, 2019 Industrial output in the Eurozone undershot expectations and fell again in July, official figures showed today, in the latest evidence of a significant slowdown in the single currency area’s economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy Industrial production dropped by 0.4 per cent month on month in July, its [...]
Germany to tumble into recession, says Ifo think tank September 12, 2019 A respected German think tank has predicted that Germany will fall into a recession in the third quarter and has slashed its 2020 growth forecast for Europe’s biggest economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? The Ifo Institute today predicted the German economy will [...]
