Markets await key speech from US Federal Reserve chair Janet Yellen on US economy and interest rates amid Federal Reserve divisions March 29, 2016 Financial markets are in limbo today as they stand by for a key speech from the chair of the US Federal Reserve, Janet Yellen, on her latest outlook for the health of the US economy. US rate-setters have been deeply divided on how fast interest rates should rise since a shaky start to the year [...]
Foyles swings back into black as new Charing Cross flagship becomes a bestseller March 29, 2016 The late Foyle brothers would be proud. The eponymous bookshop they founded over a century ago – initially selling their old textbooks – has returned to profitability after a turbulent few years that saw the company move to a new flagship store on Charing Cross Road. Foyles, which has six book stores in Birmingham, Bristol [...]
Brent crude and WTI: What $20 per barrel oil would mean for the global economy March 29, 2016 With oil prices trending lower again, what would Brent crude falling as low as $20 per barrel mean for the global economy? A whole host of investment banks, from Goldman Sachs to Morgan Stanley, have previously warned it could fall to this level. If we do get a renewed bout of oil weakness that keeps oil [...]
Buy to let investors scramble to secure home purchases before April stamp duty rise March 29, 2016 Buy to let investors are storming the housing market to beat higher taxes that will come into force in April. In February, 85 per cent of estate agents reported an increase in the number of buy to let investors looking to purchase properties, according to data released by the National Association of Estate Agents (NAEA) released [...]
Brick maker Forterra lays plans to follow rival onto the London market with £450m float March 29, 2016 Forterra, the second-largest brick maker in the UK, is laying the foundations for a £450m float on the London Stock Market, looking to build on government plans for an increase in house building. Forterra, previously Hanson’s UK building products division, will list on the London Stock Exchange next month with a free float of at least 25 per cent. [...]
EU referendum: Bank of England warns In/Out vote is the most significant short-term risk to the UK economy March 29, 2016 The referendum on Britain’s European Union membership poses the most significant short-term risk to the UK economy, the Bank of England has warned. In a statement today, the Bank’s Financial Policy Committee (FPC) said the outlook for Britain’s financial stability has “deteriorated” since the end of last year, with existing risks “supplemented” by uncertainty in [...]
Lending to Eurozone households climbs at fastest rate since 2011 as money supply growth remains robust March 29, 2016 Lending to Eurozone households and businesses gained momentum in February, according to figures published by the European Central Bank this morning. The money supply also continued to grow at a robust rate, an indication stronger demand is on the way. Household borrowing from banks climbed by 1.6 per cent in February compared with the same month [...]
Ascent Resources share price soars after Cadogan Petroleum confirms “highly preliminary approach” over a possible tie-up March 29, 2016 Shares in Ascent Resources rocketed this morning, after Cadogan Petroleum confirmed it made a "highly preliminary approach" regarding a possible tie-up. Ascent shares rose around 73.7 per cent to 3.39p per share in mid-morning trading, while Cadogan added around 15.4 per cent to 11.25p. It comes after Ascent said last week that it had received a preliminary takeover approach [...]
Landlords braced for tough new lending restrictions, as Bank of England concludes investigation into buy-to-let mortgages March 29, 2016 The Bank of England could today respond to concerns about a frothy housing market by announcing new lending restrictions on landlords and those taking out buy-to-let mortgages. This morning the Prudential Regulation Authority (PRA), the Bank’s supervisory arm, will publish the results of a four-month long investigation into underwriting standards – the terms and conditions lenders [...]
Why the US West Texas Intermediate oil price could clock its best month in around a year March 29, 2016 Despite today's losses, US oil is heading for its biggest monthly gain in nearly a year. West Texas Intermediate crude, the US benchmark, is currently down 1.1 per cent at $38.96 per barrel. Nevertheless, it's gained around 13 per cent so far this month, putting it on course for its largest jump since April last year. [...]
