Google for gifs startup Giphy has raised millions of dollars more October 31, 2016 As if more proof were needed that communication via animated gif is the future, the startup which is like Google but for gifs has raised millions of dollars more in venture capital investment. The $72m (£59m) from top Silicon Valley investors comes less than a year after it previously raised $55m and now values the startup at more [...]
Spooky sterling: Pound spikes against the dollar October 31, 2016 The pound has jumped 0.2 per cent up against the US dollar as October trading revealed sterling's worst monthly performance since the June referendum. The pound leaped up by half a cent against the dollar to $1.2217 at around 16.00 GMT today, though the reason isn't certain. It's also up half a per cent against the euro, to €1.114. This was [...]
Here’s what Martin Sorrell thinks about Mark Carney, Philip Hammond and Brexiting Britain’s economic prospects October 31, 2016 WPP chief executive Sir Martin Sorrell has given his backing to Mark Carney, saying his departure from the Bank of England would be “disastrous”. Speaking to City PM, Sorrell also expressed his support for chancellor Philip Hammond but said he was concerned over the suggestion of tension between him and the Prime Minister. Despite WPP [...]
September mortgage approvals well behind 2015 levels but edge up on August numbers October 31, 2016 UK mortgage approvals flopped nearly 10 per cent in September compared to last year, the Bank of England reported this morning. Although the figures did bounce back from the 19-month low recorded in August, the 62,932 approvals were well behind the 69,619 recorded in September 2015. Read more: Time to remortgage? Fixed rates are low, but watch out [...]
Eurozone GDP rose 0.3 per cent in the third quarter as inflation hit a 28 month high October 31, 2016 Eurozone GDP rose 0.3 per cent between the second and third quarters of the year, figures published today showed – as inflation hit its highest since June 2014. A flash estimate by Eurostat showed GDP in the Eurozone rose 1.6 per cent compared with the third quarter of 2015. Meanwhile, consumer price inflation in the [...]
Mark Carney has just been accused by Brexiteer Daniel Hannan of behaving like a “rock star banker” October 31, 2016 Conservative MEP for South East England Daniel Hannan has criticised Mark Carney for acting like "a rock star banker" on BBC Radio 4. On the Today programme this morning, Hannan, who has been a long-term supporter of Brexit and a long-term critic of Carney (who warned of the consequences should Britain leave the EU) said: "If you do stay, [...]
Brexit is a chance to reboot Britain’s stagnant productivity performance – as long as we also return monetary policy to normal October 31, 2016 Productivity is the key driver of economic prosperity. From 1945 to 1980 Britain performed poorly on productivity growth, particularly in the 1970s when the UK joined the European Community. The 1980s saw a sharp improvement in UK productivity growth, sustained for much of the 1990s and early 2000s. Alas, the UK’s productivity performance has since [...]
Would likely election winner Hillary Clinton be better for the US economy than her predecessor Barack Obama? October 31, 2016 Molly Kiniry, a consultant at the Legatum Institute, says Yes. On their first day in office, US Presidents are handed the nuclear launch codes, but not a magic wand for the economy. Their commercial role is largely about projecting confidence and building trust. The US economy is inextricably linked to global markets, which are unwilling to [...]
Essential item spending grows as consumers buy more food, drink and petrol October 31, 2016 Essential item spending growth was up for the first time in nearly two years last month, new figures show. Lloyds’ essential spending measure leapt half a percentage point to 0.2 per cent last month. The figure, in today’s Lloyds Bank Spending Power Report, was boosted by continued growth in food and drink expenditure. Read more: Big [...]
City firms expected to forge strong deals after Brexit October 31, 2016 Independence from European Union laws and regulation will enable the UK to “make beneficial trade deals with partners around the world”, according to analysis from the Legatum Institute, a think tank whose Special Trade Commission was set up post-referendum to examine the UK's negotiating options. While senior figures from across the City have raised concerns [...]
