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Economic news

RTGS glitch fixed, BoE confirms

RTGS glitch fixed, BoE confirms

Mon, 20 October 2014

The Bank of England has confirmed it is now processing payments through its Real Time Gross Settlement Payment System (RTGS) as normal. The bank's RTGS system was stopped early on Monday morning after... [more]

Warm weather hits UK shopper numbers in September, BRC says

Warm weather hits UK shopper numbers in September, BRC says

Mon, 20 October 2014

Shopper numbers fell last month against a year ago as the unusually warm autumn weather kept people out of shopping centres. Numbers dropped 0.9% in September versus the same month last year, although... [more]

UK mortgage lending slowed in September, says CML

UK mortgage lending slowed in September, says CML

Mon, 20 October 2014

British mortgage lending dropped last month amid global economic woe and uncertainty over interest rate hikes, data showed on Monday. Gross mortgage lending reached £17.8bn in September, 1% lower than... [more]

Soaring London prices push buyers outside to South East

Soaring London prices push buyers outside to South East

Mon, 20 October 2014

The South East overtook London as the country's fastest rising market, according to online property tracker Rightmove, as the average UK house price rose by 2.6% month-on-month in October, to reach £2... [more]

BoE economist Andy Haldane 'gloomier' about the UK economy

BoE economist Andy Haldane 'gloomier' about the UK economy

Fri, 17 October 2014

The chief economist at the Bank of England has turned "gloomier" about the UK economy and said that interest rates could remain at their record-low level of 0.5% for a little while longer. Speaking at... [more]

PRA exec Andrew Bailey slams EU cap on bankers' bonus

Fri, 17 October 2014

The EU cap on bankers' bonuses has been slammed by critics. It was labelled "the wrong policy" and "misguided" by the Bank of England's (BoE) deputy governor, Andrew Bailey, on Thursday night. The day... [more]

US Philly Fed index comes in slightly ahead of forecasts

Thu, 16 October 2014

Manufacturing conditions in the north-eastern US cooled a tad in October, according to a monthly gauge on activity crafted by the Federal Reserve bank of Philadelphia. The headline index derived from ... [more]

Initial weekly US jobless claims drop to lowest since April 2000

Thu, 16 October 2014

Initial weekly US jobless claims dropped by 23,000 over the seven days ending on 11 October, according to the Department of Labor. That was the lowest tally since April 2000. The consensus forecast ... [more]

Entu seeks AIM flotation after completing pre-IPO placing

Thu, 16 October 2014

Energy efficiency firm Entu has announced its intentions to float on the AIM section of the London Stock Exchange after a private placing raised £32.8m. The initial public offering should value the co... [more]

MPC should focus on wage dynamics, not falling inflation, Weale says

Wed, 15 October 2014

The Monetary Policy Committee (MPC) should not draw too much comfort from the fall in consumer price inflation, as it has been 'significantly depressed' by the appreciation of the pound and the declin... [more]

UK unemployment rate unexpectedly drops to 6%

Wed, 15 October 2014

The UK's unemployment rate dropped to 6% in the three months to August, the lowest since October 2008, according to the Office for National Statistics (ONS). Consensus had been expecting a smaller dro... [more]

WHO predicts 10,000 new Ebola cases per week by December

Tue, 14 October 2014

By December the World Health Organisation anticipates seeing 5,000 to 10,000 Ebola cases per week in Guinea, Liberia and Sierra Leone. Dr Bruce Aylward of the WHO said that the rate of cases was slowi... [more]

UK house prices continued to rise in August

Tue, 14 October 2014

British house prices continued to rise in August despite a recent slowdown in activity. Prices increased by 0.5% in August after a jump of 1.6% in July, but the annual pace of house-price growth remai... [more]

UK CPI unexpectedly drops to 1.2% in September - UPDATE

Tue, 14 October 2014

The UK's CPI fell to a 1.2% year-on-year rate of change in September, hitting a five-year low, after a reading of 1.5% in August, according to the Office for National Statistics (ONS). Economists had ... [more]

UK retail sales fell in September says BRC-KPMG

Tue, 14 October 2014

Sales from retailers in the UK fell by 0.8% in September, according to the Retail Sales Monitor from the British Retail Consortium and KPMG, with like-for-like (LFL) revenues down 2.1% down, as clothi... [more]

London house prices less affordable than at 2007 peak

Mon, 13 October 2014

A surge in London house prices this year has left the capital far less affordable than ever before, particularly compared to the rest of Britain, according to Hamptons International. Hamptons Internat... [more]

Eurozone weakness will not dictate BoE policy, Carney tells CNN - UPDATE

Mon, 13 October 2014

Economic weakness in the European single currency area and elsewhere was a major theme at this past weekend's annual gathering of the International Monetary Fund. However, frail growth in the Eurozone... [more]

FTSE 100 directors make 120 times more than employees, says IDO

Mon, 13 October 2014

Directors at FTSE 100 listed companies earn an average of 120 times more than their employees, according to Incomes Data Services (IDO). Employment research specialists IDO said that the average earni... [more]

UK bank reforms negative for bondholders, Moody's says

Mon, 13 October 2014

Recent proposed structural reforms released by the UK's Prudential Regulation Authority (PRA) are negative for all large bank bondholders, Moody's warned in a note published on Monday. "The proposed h... [more]

Osborne likely to be disappointed with tax revenues, OBR says

Mon, 13 October 2014

The Chancellor of the Exchequer will likely fall short of his targets for tax revenues this year, due to a combination of weak wage growth and a higher proportion of low-paid jobs. Due to the above, t... [more]

George Osborne to sell UK's 40% share in Eurostar

Mon, 13 October 2014

George Osborne has announced that the UK government will sell its 40% share of Channel railway service Eurostar before the general election next year. He will start searching for buyers this month and... [more]

NHS strike won't damage patients, chief nurse assures

Mon, 13 October 2014

Despite public concern that today's National Health Service (NHS) workers' strike would put too much pressure on the system, Britain's chief nursing officer, Jane Cummings has claimed patient safety r... [more]

BoE would have supplied extra notes, liquidity if Scotland voted 'yes'

Fri, 10 October 2014

The Bank of England (BoE) would have supplied additional bank notes and pumped extra liquidity into banks if the Scottish referendum had resulted in a break-up of the United Kingdom. Minutes from a 26... [more]

Cameron insists screening for Ebola at airports is necessary

Fri, 10 October 2014

UK Prime Minister David Cameron has said screening of people at border security is necessary to protect people from the Ebola virus. People arriving from areas hit by Ebola will face enhanced screenin... [more]

Average national house price to increase 30% over next five years, according to Rightmove

Fri, 10 October 2014

The UK's biggest online property search site, Rightmove, claims that a surge in property demand over the next five years will increase the average house price by 30%. According to the report, the larg... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
InterContinental Hotels Group 2,249.00 4.31 17:09
International Consolidated Airlines Group SA (CDI) 361.40 3.14 17:00
TUI Travel 349.20 2.98 17:09
Tesco 179.30 2.72 17:03
Associated British Foods 2,629.00 2.57 17:09

FTSE 100 Top Fallers

Name Last Chg.% Time
BG Group 1,026.00 -3.80 16:38
Kingfisher 290.00 -3.01 17:09
Tullow Oil 508.50 -2.96 16:48
Petrofac Ltd. 1,030.00 -2.83 17:00
ARM Holdings 851.50 -2.69 16:40