Davos 2016: As technology absorbs our mundane and routine tasks, we must realise our own higher calling January 14, 2016 Today, bits are reshaping the atoms around us. Emerging technologies in artificial intelligence, deep neural networking, and machine learning enable us to reimagine the possibilities of human creativity, innovation and productivity. Research institutions, businesses and governments explore the great new frontiers of human possibility. So many of our systems have evolved beyond what we thought [...]
Brent and WTI crude: Oil prices steady after new year sell-off January 14, 2016 Oil prices steadied today, following a brutal new year sell-off which pushed the black stuff to 12-year lows. Brent crude, the global benchmark, rose 0.6 per cent to $30.49 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, jumped 1.4 per cent to $30.90 per barrel. Oil prices have shed nearly 20 per cent since [...]
US Federal Reserve’s James Bullard airs concern over drop in inflation expectations January 14, 2016 A recent decline in US expectations of inflation is "worrisome" and may delay inflation returning its two per cent target, according to one US rate-setter. “Headline inflation will return to target once oil prices stabilise, but recent further declines in global oil prices are calling into question when such a stabilisation may occur,” said James Bullard, president [...]
Is Tesco saved? A small victory for Dave Lewis in the supermarket’s Christmas results, but 2016 remains a challenge January 14, 2016 Tesco reported its best Christmas trading results since Dave Lewis has been at the helm but does this really mean that ‘Drastic Dave’ and his management team can breathe a little easier? The dynamics of grocery shopping has changed with value and convenience the two biggest factors for consumers. Competition has never been fiercer so it would [...]
Corporate governance standards among UK companies stay high, as regulator says its code will not be substantially amended for the next three years January 14, 2016 The overall quality of corporate governance among UK companies remains high, as the regulator vows not to make any major changes to its code for the next three years. According to a report published today by the Financial Reporting Council (FRC), 90 per cent of FTSE 350 companies are complying with all but one or [...]
BT’s EE takeover set to get a green light from Competition and Markets Authority January 14, 2016 BT’s £12.5bn takeover of rival EE is expected to get a thumbs up by the UK’s competition watchdog as the two prepare to merge in March. Anything other than a green light would be highly unexpected as the Competition and Markets Authority (CMA) prepares to announce its final decision on the deal at 7am tomorrow, [...]
Bank of England monetary policy committee votes 8-1 to hold interest rates as it cuts economic growth, inflation forecasts January 14, 2016 The Bank of England's rate-setting committee held interest rates at historic lows, while it cut forecasts for economic growth and inflation. The monetary policy committee (MPC) voted 8-1 in favour of keeping the benchmark interest rate at 0.5 per cent, with lone hawk Ian McCafferty staying in favour of a rate rise despite a darkening global [...]
UK immigration: International students put £2.3bn into the London economy January 14, 2016 The contribution of foreign students to London’s economy is “overwhelmingly positive,” according to a report by London First. The report, entitled “London Calling: International students’ contribution to Britain’s economic growth,” goes some way to debunking fears about international students overstaying their welcome and their cost to the national coffers. What is more, the report contradicts [...]
Tourism stocks tumble in the wake of the Jakarta attacks as the share prices of EasyJet, InterContinental Hotels, Tui and IAG fall January 14, 2016 The FTSE 100 index traded lower this morning as attacks in the Indonesian capital weighed on tourism stocks. This morning a series of bomb blasts hit Jakarta, the Indonesian capital, followed by gunfire, reported to have killed at least seven people. In the aftermath of the blasts, Jakarta police spokesman Muhammad Iqbal said five attackers and two other [...]
Sterling touches 11-month low ahead of the Bank of England’s interest rate decision January 14, 2016 The pound rebounded from an 11-month low against the euro today, as the Bank of England's rate-setting committee was expected to keep interest rates unchanged when it announces its decision later today. Sterling was trading at 0.76p per euro this morning, while it was at $1.44 against the dollar. On Tuesday it fell to a five-and-a-half year [...]
