See us after class: Disappointing back to school week for FTSE 100 as retailers drag it lower September 9, 2016 The FTSE 100 had a decidedly wobbly start to the school year, finishing the first full week of September 1.7 per cent lower than it started. Having come tantalisingly close to the 7,000 mark last week, it finished today at 6,776.95 points, 1.2 per cent down. "You’d be forgiven for falling asleep this afternoon," complained SpreadEx financial analyst [...]
UK public expectations for interest rate hike falls to record low level September 9, 2016 The proportion of British people expecting an interest rates rise in the next year has fallen to a record low, a Bank of England survey has shown. The poll of more than 2,000 people aged 16 and over was conducted between 8 and 9 August, shortly after the Bank cut rates to 0.25 per cent. [...]
UK’s trade deficit narrows in July as the weak pound cheers exporters September 9, 2016 A weak pound may be bad news for holiday makers – but exporters were celebrating in the aftermath of the Brexit vote, new data has suggested. In fact, tumbling sterling pushed exports up to such a degree that the UK's trade deficit narrowed by £1.1bn to £4.5bn in July, the first full month after the EU [...]
The number of jobs available in London has fallen by 20 per cent September 9, 2016 The number of London-based jobs available has fallen by 20 per cent since this time last year. According to data from recruitment consultancy Morgan McKinley, there has been a four per cent month-on-month increase in the number of jobs and a four per cent increase in London professionals seeking jobs. Morgan McKinley said this was "remarkable" given the recent Brexit vote. Read more: [...]
UK construction output wasn’t as bad as expected last month September 9, 2016 The UK's construction sector has been in pretty dire straits in recent months – but it turns out in the month immediately following the Brexit vote, things began to look up. Figures from the Office for National Statistics suggested today that construction output stayed flat between June and July – against expectations of a 0.5 per cent [...]
World Bank lays bare the $5 trillion cost of dirty air September 8, 2016 A landmark study from the World Bank has found deaths as a result of air pollution cost the world more than $5 trillion (£3.8 trillion) a year. The new report, published yesterday, highlighted the staggering economic impact of one of the world’s top killers and prompted calls for government action from economists and conservationists. The [...]
It’s pure hubris for politicians to think they can “rebalance” the economy September 8, 2016 Theresa May is reviving the idea of interventionist industrial strategy, and wants to “rebalance” the economy. Many people are jumping on the bandwagon. They should jump right off again. Even the more mature of today’s politicians were still in the school playground when these ideas last made waves. In the 1950s and 1960s, UK governments [...]
South Africa mineral explorer seeks investor gold on the London Stock Exchange September 8, 2016 A South Africa-focused gold explorer is planning to float on the London Stock Exchange. White Rivers Exploration, the largest land holder in South Africa’s Witwatersrand gold province, is planning a dual listing in the UK and in Johannesburg next year. Read more: Top execs are expecting global IPO activity to re-ignite in the next year The company was [...]
Oil price climbs after US Energy Information Administration data reveals US crude oil inventories down by 14.5 million barrels September 8, 2016 Oil prices picked up this afternoon after data from the US showed crude stocks had tumbled by over 14m barrels last week. Global benchmark Brent crude was up 1.1 per cent to $48.51 and US benchmark rose 1.27 per cent to $46.08. The US Energy Information Administration released (EIA) data today showing that US commercial crude oil inventories [...]
Glencore’s share price is flat after reports that it is putting another one of its Chilean assets up for sale September 8, 2016 Glencore has put another one of its assets up for sale as part of a strategy to lighten its heavy debt burden. The reported asset in question is Chilean-based Energia Austral hydropower, which it owns through a joint venture partnership with Australian firm Origin Energy. Energia Austral comprises three hydropower projects currently under development that will have a capacity of 1,000 megawatts (MW). [...]
