Downgrades outpace upgrades by three-to-one in the sovereign credit ratings game August 16, 2016 Governments across the world are becoming riskier to lend to, according to an analysis of sovereign credit ratings. Research by IHS Global has shown the number of downgrades outpaced upgrades by a ratio of three-to-one in the second quarter of the year, as low commodities prices hurt emerging markets and Brexit led to the UK [...]
German financiers less concerned about Brexit fallout August 16, 2016 Confidence in Europe's largest economy has bounced back after a sharp fall in the immediate aftermath of the UK's shock vote to leave the EU. The ZEW economic indicator – one of the leading gauges of optimism among German investors – climbed to 0.5 in August from a reading of minus 6.8 straight after the Brexit vote. Positive [...]
Sterling soars as UK inflation hits 20-month high after Brexit vote August 16, 2016 The pound has jumped this morning after figures showed prices in the UK are rising at their fastest rate since the end of 2014. Inflation came in at 0.6 per cent in July on the consumer prices index (CPI), ahead of expectations and up from a rate of 0.5 per cent in June. Sterling charged [...]
Misery for commuters with 1.9 per cent fare rise as inflation jumps after Brexit vote August 16, 2016 Rail fares will rise by an average of 1.9 per cent next year as inflation has jumped in the first full month after the EU referendum. The consumer prices index (CPI) came in at 0.6 per cent for July, according to the Office for National Statistics (ONS). This was up on the 0.5 per cent [...]
Resolution Foundation argues Brexit won’t solve the low-skilled pay squeeze August 16, 2016 Reducing levels of migration will do little to end the pay squeeze for low-income workers, new research by a leading think tank has found. A report published today by the Resolution Foundation claims while net migration has reduced earnings for some people in the UK, a tighter, post-Brexit clampdown on the numbers of people coming [...]
Four of the best: Investment opportunities from around the globe August 16, 2016 Markets have been turbulent this year and much talk has focused on potential risks. A smattering of uncertainties to consider include the ramifications of the Brexit vote and whether the UK will enter recession. Nor does anyone know how extraordinary monetary policy in Europe will pan out, or the ultimate impact there’ll be from the trillions [...]
London has the worst debt crisis in the UK August 16, 2016 Londoners have the most severe debt problems of anybody in the country, according to a leading debt advice charity. StepChange said those living in the capital were more likely to be behind on their monthly payments and typically had higher levels of borrowing than those across the rest of the UK. The findings comes in a [...]
Moody’s takes Noble’s rating two notches deeper into junk territory August 15, 2016 Moody’s took commodities trader Noble two notches deeper into junk territory with a negative outlook amid concerns over its liquidity yesterday. It comes after the firm swung to a loss in its second quarter results released last week. Noble has been hit by tumbling commodity prices over the last two years, questions over its accounting [...]
Bank of England prepares for crucial QE test August 15, 2016 All eyes will be on Threadneedle Street tomorrow afternoon as the Bank of England gears up for its next bond-buying mission. To the market's surprise, the Bank of England could not find enough willing sellers of long-term government debt on the open market last week, leading to the first ever time when the Bank was [...]
Oil prices hit one-month high as Opec flirts with freeze August 15, 2016 Crude hit a one-month high today, on rising hopes that some of the world's biggest oil producers will help markets which have been drowning in oversupply for the last two years. Brent crude, the global benchmark, swelled 1.66 per cent to $47.75 per barrel on London's ICE Futures Exchange this afternoon, having hit 47.87 earlier in the day. Its US [...]
