Hinkley Point C: Prioritising the politically sexy over the economically rational is a waste of money July 29, 2016 The new nuclear plant at Hinkley Point, which has finally been approved by EDF’s board, will be the most expensive power station anywhere in the world. Beset by delays (first proposed in 2006, it was meant to come online in 2017), it won’t be operational until 2025 and EDF will still receive its enormous £30bn [...]
Nuclear fallout: Government cools on Hinkley Point after EDF approval July 29, 2016 A decision by the board of French energy giant EDF to approve construction of two new nuclear reactors at Hinkley Point in Somerset was given a lukewarm response by Theresa May’s government last night. In a shock move, business and energy secretary Greg Clark said the government will now review the details and make a decision [...]
Watchdog in blistering attack on IMF’s role in Eurozone bailouts July 28, 2016 The International Monetary Fund (IMF) has been slammed by its own watchdog for a string of failures in its handling of the Eurozone crisis. The IMF's Independent Evaluation Offices (IEO), which watches over the global rescue fund, said the body found itself in an unprecedented situation, but failed to act with the "agility", "accountability and [...]
Advanced economies stuck in trap of low growth and rising populism July 28, 2016 The cycle of weak growth and political instability affecting the developed world was laid bare in a new report into the state of the world's largest economies, published this morning. Economies are trapped in a spiral of weak growth and growing debt while politicians fail to grasp the problems, leading to a political backlash and a clamour [...]
Should Philip Hammond cut VAT to support post-referendum economy? July 28, 2016 Theresa May and Philip Hammond have promised to "reset" the government's spending plans in the wake of the EU referendum. George Osborne's goal to run a budget surplus has been abandoned while rumours about a massive injection of government spending are gathering pace. In 2008, as the Labour government scrambled to deal with the start of the slowdown, [...]
Before the bell: What you need to know before the US market open July 28, 2016 Last night the US Federal Reserve signalled the way to an interest rate rise before the US Presidential Election and investors are busy digesting the flood of earnings reports. Here's what you need to know before the US market open at 2:30pm. The pre-market is pointing lower ahead of the open but looks to be broadly [...]
Rapid growth in household incomes powering Eurozone recovery July 28, 2016 Household incomes grew by one of their fastest rates since the financial crisis in the Eurozone earlier this year, as the recovery in the single currency area picked up steam. Disposable income per person, which takes into account all kinds of incomes and expenditures, climbed by 0.9 per cent in the first quarter, up from a [...]
Brex-what? Confidence up as Eurozone still doesn’t care about UK’s exit July 28, 2016 The Eurozone recovery remains resilient in the face of the UK's decision to break away from the EU, yet more economic data out this morning has shown. The leading barometer of consumer and business confidence, the official economic sentiment indicator (ESI), increased across the Eurozone in July, with nerves about the fallout from Brexit staying rooted on this [...]
What Brexit? House prices inched up in July July 28, 2016 Brexit, what Brexit? The property market defied the uncertainty of the EU referendum result – for now – new data reveals. The full impact on the housing market has yet to be felt as prices edged up ever so slightly in July, according to Nationwide. Read more: Property shares are sliding after downbeat house price forecasts Property [...]
Take off! London lifted by green light for City Airport expansion as markets touch post-Brexit highs July 28, 2016 The City received a double boost yesterday as London City Airport was given the go-ahead for a major expansion while the latest GDP data beat expectations and lifted the FTSE 100 to a 12-month high. Chancellor Philip Hammond, transport secretary Chris Grayling and communities secretary Sajid Javid gave the green light to the multi-million pound [...]
