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Economic news

Gove insists 'change needs to come' while calling for plastic bottle deposit scheme

Gove insists 'change needs to come' while calling for plastic bottle deposit scheme

Fri, 21 July 2017

(ShareCast News) - Environment secretary Michael Gove cited the 5p charge for plastic bags when speaking on how a bottle return scheme would require the "enthusiastic embrace" of retailers. "It is the... [more]

Irish ambassador calls on UK to remain in Customs Union

Irish ambassador calls on UK to remain in Customs Union

Fri, 21 July 2017

(ShareCast News) - Britain should remain in the EU Customs Union following Brexit in order to avoid problems with the Irish border, the country's ambassador to the UK said on Friday. In an interview w... [more]

Cabinet united on 'pragmatic' Brexit transition period, Gove says

Cabinet united on 'pragmatic' Brexit transition period, Gove says

Fri, 21 July 2017

(ShareCast News) - The cabinet is committed to taking a "pragmatic approach" to free movement in the post-Brexit transition period, environment minister Michael Gove said on Friday, bowing to pressure... [more]

'Brexit impact' slows down rate of house price growth

"Brexit impact" slows down rate of house price growth

Fri, 21 July 2017

(ShareCast News) - The largest cities in the UK saw an average increase of 5.1% in house prices in the twelve months to June 2017, however, the capital saw growth slow to 2.6%, the slowest rate in mor... [more]

UK property transactions fall again - HMRC

UK property transactions fall again - HMRC

Fri, 21 July 2017

(ShareCast News) - The number of homes being sold in the UK has shrunk for the third month in a row, according to official figures released on Friday. There were 96,910 residential sales completed in ... [more]

Government borrowing rises more than expected in June

Fri, 21 July 2017

(ShareCast News) - Public sector net borrowing rose more than expected in June as inflation meant the government was forced to pay more interest on its debt, according to data from the Office for Nati... [more]

Goldman Sachs executive urges Brexit transition deal as soon as possible

Fri, 21 July 2017

(ShareCast News) - The government should seek to implement a significant transition period for Brexit from March 2019, one of Goldman Sachs' top executives has said. Richard Gnodde told the BBC on Fri... [more]

Sir Vince Cable elected unopposed to Lib Dem leadership

Thu, 20 July 2017

(ShareCast News) - Sir Vince Cable has been named the new leader of the Liberal Democrats Party, becoming the oldest leader of the party in its history. Other possible contenders for the nomination Jo... [more]

Philly Fed index falls more than estimated in July

Thu, 20 July 2017

(ShareCast News) - Manufacturing conditions in the Philadelphia region deteriorated more than expected in July, according to a survey released on Thursday. The diffusion index for current activity fel... [more]

US jobless claims drop more than expected

Thu, 20 July 2017

(ShareCast News) - The number of Americans filing for unemployment benefits fell more than expected last week, according to data from the Labor Department. US initial jobless claims dropped by 15,000 ... [more]

IOD study highlights businesses' unpreparedness regarding Brexit plans

Thu, 20 July 2017

(ShareCast News) - The Institute of Directors (IoD) says in a study published Thursday morning that only 11% of British companies have begun to implement contingency plans for Brexit. What exactly the... [more]

Theresa May's new Brexit business council to meet

Thu, 20 July 2017

(ShareCast News) - Theresa May will meet with senior figures in some of the UKs largest companies later on Thursday in an effort to assuage some of the growing concerns over the governments Brexit pla... [more]

Clothing sales rejuvenate UK retail sector in June, economists take pinch of salt

Thu, 20 July 2017

(ShareCast News) - UK retail sales were rejuvenated by warm weather last month, according to the Office for National Statistics, though economists disagreed over whether this was a sign of a revitalis... [more]

Morgan Stanley opts for Frankfurt as new post-Brexit hub

Thu, 20 July 2017

(ShareCast News) - US investment bank Morgan Stanley is the latest multinational financial firm to choose Frankfurt as a new post-Brexit European hub, according to several reports. It was also reporte... [more]

Spanish banker Blesa found dead in midst of credit card investigation

Wed, 19 July 2017

(ShareCast News) - Infamous Spanish banking executive Miguel Blesa has been found dead at a hunting lodge in the country while an investigation into his part in a credit card scandal was ongoing. Bles... [more]

US housing starts rise more than expected in June

Wed, 19 July 2017

(ShareCast News) - US housing starts rose more than expected in June, according to data released by the Commerce Department on Wednesday. Housing starts were up 8.3% to a seasonally-adjusted annual ra... [more]

Credit and debit card charges to be scrapped in EU directive

Wed, 19 July 2017

(ShareCast News) - Consumers will be spared the burden of added credit and debit card charges from January 2018, the UK government has announced. Following an EU directive which will come into force a... [more]

Ethereum co-founder says initial coin offerings are a "ticking time bomb"

Wed, 19 July 2017

(ShareCast News) - In May alone, cryptocurrency "Ether" rose by as much as 700% in value amid a craze for initial coin offerings but one of its developers said they were a "ticking time bomb". After s... [more]

Inequality in the UK on the decline, IFS finds

Wed, 19 July 2017

(ShareCast News) - Higher income and a lower unemployment rate have aided in closing the gap on inequality across the UK, but some regions are still suffering, a new study finds. According to the In... [more]

"Get ready for serious business," says May

Tue, 18 July 2017

(ShareCast News) - Over the weekend, a series of comments allegedly made by Finance Minister Phillip Hammond in regards to public sector employees being in his opinion, "overpaid" were leaked to the m... [more]

New £10 notes unveiled at Winchester Cathedral by BoE Governor Carney

Tue, 18 July 2017

(ShareCast News) - The full design of the new polymer £10 banknotes have just been revealed to the public. The notes, which feature famed author Jane Austen, were unveiled to the media by Bank of Engl... [more]

Frankfurt chosen as new Citigroup EU trading hub - report

Tue, 18 July 2017

(ShareCast News) - US banking giant Citigroup is reportedly set to announce Frankfurt as its choice for its new European trading hub. Citi had been weighing options as to where to base its expanding b... [more]

PwC says UK house prices set for steady growth

Tue, 18 July 2017

(ShareCast News) - UK house price inflation was expected to slow further in 2017 but to remain steady thereafter, PriceWaterhouseCoopers's said in its annual UK Economic Outlook. According to the audi... [more]

German economic sentiment dips more than expected - ZEW

Tue, 18 July 2017

(ShareCast News) - German economic sentiment deteriorated more than expected in July, according to the latest survey from the ZEW Center for European Economic Research in Mannheim. The index of econom... [more]

UK house price growth slows to 4.7% in May, ONS says

Tue, 18 July 2017

(ShareCast News) - UK house price growth slowed from a 5.3% year-on-year pace in April to 4.7% for May. Although the price index had been on a declining trend since mid-2016, year-to-date it had been ... [more]