Bank of England votes eight to one to hold interest rates as oil prices are expected to weigh further on inflation in the coming months December 10, 2015 The Bank of England will be in no mood to lift interest rates any time soon as it said today there was a high chance that inflation will remain near zero in the coming months due to a renewed fall in oil prices. The Bank’s monetary policy committee (MPC) also warned about uncertainty over the market [...]
Lloyds share price rises after it wins ECN bonds case in appeals court December 10, 2015 Lloyds shares rose today, after a court of appeal sided with the bank over its request to buy back special high-interest bonds, which were issued during the height of the financial crisis. Lloyds sold the enhanced capital notes (ECNs) to retail investors shortly after it was bailed out by the government in 2009, boosting its capital buffer. The [...]
UK trade deficit widens in October as imports jump December 10, 2015 The UK's trade deficit, the amount of goods and services imported over the amount that is exported, widened in October. The figures published by the Office for National Statistics this morning show the deficit widening to £4.1bn from £3.1bn in September. An increase in goods imports, which economists warn are volatile on a month basis, [...]
Shell could pull out of New Zealand after over 100 years as oil prices plunge December 10, 2015 Royal Dutch Shell is reviewing its business interests in New Zealand, where it has operated for more than 100 years, as it looks to cut costs amid persistently low oil prices. Low oil prices have squeezed oil companies' balance sheets forcing them to review and cut back operations. Brent crude oil, the global benchmark, fell below $40 per barrel [...]
How normal are your spending habits? UK household expenditure reveals what Britons spend most money on December 10, 2015 Do you spend more or less money on wine than the average Briton? How about takeaway coffees? You probably already know that that daily vanilla latte you buy to get you through the morning commute tallies up to astronomical sums over the course of the year. But if you’re worried, or perhaps just curious, about [...]
FTSE 100 index opens flat weighing Glencore gains against Sports Direct losses December 10, 2015 The FTSE 100 index opened flat this morning, weighing gains made by Glencore and losses in Sports Direct and Old Mutual The UK's top blue-chip index opened 0.44 per cent down at 6,099 points. Old Mutual dropped 4.61 as the market opened, to 186.2p per share, while Sports Direct's share price fell 6.69 per cent to 621p [...]
Glencore share price rises as it unveils increases debt reduction and cuts spending December 10, 2015 Glencore shares rose 5.7 per cent to 87.75p per share this morning, as investors cheered its plans for more debt reduction and spending cuts. In a statement released ahead of its annual investor day, the commodities miner and trader said it was now targeting net debt of between $18bn (£11.9bn) and $19bn by the end of 2016, lower than the previous [...]
Star fund manager Neil Woodford sells Rolls-Royce stake after profit warning in November December 10, 2015 Star fund manager Neil Woodford has sold his stake in Rolls-Royce, after a disappointing trading update from the engineering company last month. While Woodford didn not say how big the stake was, reports suggest that it was initially around 2.2 per cent of the company, or £232m. "Over the last couple of years, Rolls-Royce has become a more challenged [...]
London financial services job market slows down ahead of Christmas, as available roles drop by 32 per cent in November December 10, 2015 Available financial services jobs in London plummeted to 6,405 in November, a 32 per cent decline compared to October, when there were 9,480 jobs on offer. According to the figures released today by professional services recruiter Morgan McKinley, the number of London professionals seeking new roles also dropped to 10,492, down 27 per cent from [...]
London to grow quicker than other UK regions until 2018 December 10, 2015 London is still expected to be the fastest growing region in the UK over the next few years, according to a report out today from accounting giant EY. The capital is expected to rack up an average forecast Gross Value Added (GVA) of three per cent a year to 2018. This year London GVA is [...]
