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Economic news

Police face further allegations of VIP paedophile ring cover-up

Police face further allegations of VIP paedophile ring cover-up

Fri, 27 March 2015

New investigations into the involvement of corrupt police officers in an alleged VIP paedophile ring were launched on Friday. The Independent Police Complaints Commission said 17 allegations of police... [more]

US consumer confidence rises on improving labour market and weaker oil prices

US consumer confidence rises on improving labour market and weaker oil prices

Fri, 27 March 2015

US consumer confidence ticked up in March, reflecting the improvement in the labour market and increased spending due to weaker oil prices. March's consumer confidence measure rose 2.5% month-on-month... [more]

Greek finance minister ready to resign, say press reports

Greek finance minister ready to resign, say press reports

Fri, 27 March 2015

Greece's finance minister Yanis Varoufakis is getting ready to resign from his post, say press reports. Varoufakis dismissed the speculation and said in a tweet on Friday that it was "somewhat amusing... [more]

Hedge funds deserve greater scrutiny, says Fed's Fischer

Hedge funds deserve greater scrutiny, says Fed's Fischer

Fri, 27 March 2015

Stanley Fischer, the Federal Reserve vice chairman, said that hedge funds should be subject to greater scrutiny by federal regulators. Speaking in Frankfurt on Friday, Fischer said that while the US h... [more]

Government should use university tuition fees to boost teachers' salaries 25%, claims poverty commissioner

Government should use university tuition fees to boost teachers' salaries 25%, claims poverty commissioner

Fri, 27 March 2015

The UK government should increase wages for teachers willing to work in challenging schools by 25% using undergraduate tuition fees, according to a new proposal by social mobility and child poverty co... [more]

Sterling shoots up after BoE keeps on track of rate hikes

Fri, 27 March 2015

Sterling advanced after the Bank of England's Governor Mark Carney on Friday said the central bank is still on track for its next move in interest rates to be up, even though inflation rates are quite... [more]

Nationwide house price data shows mild monthly rise in March

Fri, 27 March 2015

UK house prices in March rose mildly on the prior month, but annual growth had slowed to an 18-month low , according to data from mortgage lender Nationwide on Friday. Nationwide said prices in March ... [more]

PM Cameron edges Miliband in first election tussle, as both struggle against Paxman

Fri, 27 March 2015

In the first televised political exchange of the UK 2015 general election campaign, Prime Minister David Cameron edged out Labour party leader Ed Miliband according snap polls. However, the latter is ... [more]

Motion to reform Speaker rules fails amid accusations of anti-Bercow coup

Thu, 26 March 2015

House of Commons speaker John Bercow has survived a bid to change the rules on electing commons speakers, after a bid to oust him failed by 26 votes. On Wednesday night, the government tabled a motion... [more]

Supreme Court allows publication of Prince Charles' letters to ministers

Thu, 26 March 2015

A number of letters sent by Prince Charles to government ministers can be disclosed to the press, the Supreme Court ruled on Thursday. The UK's highest court decided that 27 letters written by the Pri... [more]

UK needs further measures to tackle British jihadists, MPs say

Thu, 26 March 2015

More needs to be done to prevent people leaving the UK to join Islamic State (IS), a group of MPs said on Thursday. They argue that preventive work among communities and families, as well as with inte... [more]

Retail sales rise by less than expected, CBI distributive trades survey shows

Thu, 26 March 2015

Retail sales volumes fell short of market expectations, according to the results of March's monthly distributive trades survey from the Confederation of British Industry (CBI). A total of 34% of res... [more]

Financial advisers should be prosecuted for recommending tax avoidance schemes, say MPs

Thu, 26 March 2015

Financial advisers should be prosecuted by the next government for aiding tax avoidance schemes, a new UK parliamentary report has claimed. The parliamentary Public Accounts Committee analysed public ... [more]

UK retail sales exceed expectations to confirm brighter consumer outlook

Thu, 26 March 2015

UK retail sales rose in February, exceeding expectations and fuelling confidence over the consumer spending. In a scheduled data release on Wednesday, the Office for National Statistics said retail sa... [more]

France set to beat 2015 public deficit targets

Thu, 26 March 2015

The French economy expanded at a very modest pace towards the end of 2014, but the red ink at the Elysee palace was significantly less than expected. In the last three months of the year, gross domest... [more]

Patient care could be crippled by £2bn NHS deficit, report says

Thu, 26 March 2015

Patient care is at risk as the National Health Service (NHS) deficit is heading for £2bn, according to a new report by the King's Fund. Citing the report, The Guardian noted that waiting times will ri... [more]

Speculation surfaces Saudi Arabia might deploy ground forces in Yemen

Thu, 26 March 2015

Following Saudi Arabia's use overnight of airstrikes against Houthi rebels in neighbouring Yemen a source from the Middle Eastern Kingdom has reportedly told Reuters that a ground offensive may be now... [more]

Greece could reach agreement with Eurozone leaders by 'next week'

Thu, 26 March 2015

Greece's Economy Minister George Stathakis said on Thursday that the government could reach an agreement with European Union finance ministers by 'next week.' "I believe that at the beginning of next ... [more]

Australian mining row escalates as iron ore prices continue to slip

Thu, 26 March 2015

The ongoing row in Australia about how to handle declining iron ore prices escalated with the Chairman of Fortescue Metals Group urging his competitors to "cap production" and support prices. Accordin... [more]

Oil prices spike after Saudi Arabia launches airstrikes in Yemen

Thu, 26 March 2015

Oil prices spiked early on Thursday after Saudi Arabia launched air strikes in Yemen overnight in an effort to defeat rebel Houthi fighters from the north of the country. The attempted Yemeni coup d'e... [more]

Dubai to sell £1.5bn stake in London Stock Exchange

Wed, 25 March 2015

Eight years after investing in the London Stock Exchange (LSE) in a bid to create an investment empire, Dubai is selling its £1.5bn stake in London's stock market. According to the Daily Telegraph, No... [more]

UKIP declining from 2014 peak, shows ComRes poll

Wed, 25 March 2015

UKIP is on the back foot, having peaked in October 2014, according to data by a ComRes Ltd poll involving 1,001 people. Of all the parties, UKIP lost the most ground in February, down three points to ... [more]

MPC's Kristin Forbes: Low inflation unlikely to persist

Wed, 25 March 2015

The recent drop in inflation is a temporary response to lower food and energy prices, according to Kristen Forbes, a member of the Monetary Policy Committee (MPC) at the Bank of England (BoE). Speakin... [more]

IMF praises Ireland for kick-starting economic growth

Wed, 25 March 2015

Ireland's government has been praised by the International Monetary Fund for kick-starting economic growth, but urged "decisive" action to deal with banks' bad loans. In its annual Article IV report o... [more]

BoE apologises for the 2014 outage in interbank payments

Wed, 25 March 2015

An outage last year in the Bank of England's interbank payments system indicated a lack of efficacy at the central bank, prompting the Bank to apologise for the inconvenience. According to a report pu... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Carnival 3,245.00 7.18 17:08
InterContinental Hotels Group 2,640.00 2.76 17:09
Shire Plc 5,425.00 2.17 17:13
SABMiller 3,613.00 1.43 17:12
Compass Group 1,174.00 1.21 17:09

FTSE 100 Top Fallers

Name Last Chg.% Time
Weir Group 1,714.00 -3.55 17:08
Glencore 288.15 -3.05 17:09
Sports Direct International 621.50 -3.04 17:07
Anglo American 1,044.00 -3.02 17:08
Randgold Resources Ltd. 4,756.00 -2.98 17:08