US JOLTS: Federal Reserve on course to hike rates as quits rate holds steady and hires edge down December 8, 2015 The number of US job openings in October edged down to 5.4m in October from 5.5m the month before, according to the Bureau of Labor Statistics’ jobs and labor turnover report (Jolts) released today. An important gauge of worker confidence was also little changed. There were 2.8m quits in October, up from 2.7m. Quits count [...]
NIESR: The Bank of England will hike interest rates in February December 8, 2015 UK interest rates will go up in just two months' time, a think tank has forecast. The National Institute of Economic and Social Research (NIESR) said today that the economy grew 0.6 per cent in the three months ending November, faster than in the 0.5 per cent it is forecasting for the three months to October. “This rate [...]
Dow Jones drops 200 points on the open as commodities rout worsens December 8, 2015 The commodities rout continues, and now it is weighing on US stock markets, after the US Dow Jones fell over 200 points as the markets in America opened. Within the first five minutes the Dow Jones fell over one per cent, but has recovered slightly to be trading 0.97 per cent down, at 17,557 points. Read more: FTSE [...]
Eurozone economy fails to get a boost from cheaper euro as growth is confirmed at 0.3 per cent December 8, 2015 The Eurozone economy failed to be boosted by a cheap euro in the three months to September, as new figures showed the growth of exports falling. Total economic growth came in at 0.3 per cent, with export growth slowing to 0.2 per cent in the period, compared with 1.6 per cent over the three months to June, according [...]
Brent crude oil prices crash below $40 for the first time in seven years December 8, 2015 Brent crude crashed below $40 per barrel today for the first time in nearly seven years, after Opec failed to specify a production level ceiling on Friday. Brent crude, the global benchmark, shed two per cent to $39.89 per barrel this afternoon, while Western Texas Intermediate crude slumped 2.58 per cent to $36.68 per barrel. Tamas Varga [...]
Treasury Select Committee tells fiscal watchdog to start working on improvements after £11.5bn VAT forecast blunder. December 8, 2015 A group of influential MPs has today told the government’s fiscal watchdog to come up with ways to improve its models after some tweaks in its latest forecast granted Chancellor George Osborne and extra £11.5bn to spend over the next five years. Nearly every economist expected the Office for Budget Responsibilty (OBR) to reduce the amount [...]
Challenger Acquisitions shares soar to lofty heights as Ferris wheel maker relists on London’s main market December 8, 2015 A company that builds giant Ferris wheels across the world has relisted on the London Stock Market this morning after a six month acquisition spree, with shares soaring by 30 per cent. Challenger Acquisitions suspended trading six months ago to complete its reverse takeover of engineering firm Starneth, which helped design and build four of [...]
UK house prices: Mortgage rates hit record low as more people opt for fixed rate deals December 8, 2015 Mortgage rates dropped to their lowest on record between July and September, according to figures released by the Bank of England this morning. The overall average interest rate on mortgage advances dropped to 2.76 per cent, from 2.83 per cent. The proportion of new mortgages that are fixed-rate climbed to 80.7 per cent from 78.9 [...]
Anglo American share price falls as it suspends dividend and cuts jobs amid deepening commodity crisis December 8, 2015 Anglo American today suspended its dividend for the first time in eight years, with the miner also laying off around 60 per cent of its workforce as it struggles to weather a rout in commodity prices. It came as the miner announced a "radical restructuring", under which its workforce will shrink to 50,000 from 135,000, as it consolidates from three to six [...]
Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]
