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Economic News News

Economic news

Foxtons turnover hit by 'subdued' London market

Foxtons turnover hit by 'subdued' London market

Tue, 27 January 2015

Estate agency Foxtons Group said its turnover during the last quarter of the year was down 12.1% due to a reduction in property sales commission. The group said the market in central London continued ... [more]

UK GDP expanded just 0.5% in fourth quarter, worse than expected

UK GDP expanded just 0.5% in fourth quarter, worse than expected

Tue, 27 January 2015

The UK economic expansion slowed more than forecast to just 0.5% in the fourth quarter of 2014, as contractions in construction and production weighed on growth. The quarter-on-quarter rate of gross d... [more]

S&P downgrades Russia credit grade to junk level

S&P downgrades Russia credit grade to junk level

Mon, 26 January 2015

Rating agency Standard & Poor's (S&P) lowered its long- and short-term foreign currency sovereign credit ratings on the Russian Federation to 'BB+/B' from 'BBB-/A-3'. The agency also lowered the long-... [more]

BoE could raise interest rates sooner than expected, says MPC's Forbes

BoE could raise interest rates sooner than expected, says MPC's Forbes

Mon, 26 January 2015

Bank of England (BoE) policymaker Kristin Forbes said the central bank could raise interest rates sooner than expected. Forbes, a member of the Monetary Policy Committee (MPC), said she believed there... [more]

Alex Tsipras sworn in as Greece's prime minister, Syriza forms anti-austerity coalition

Alex Tsipras sworn in as Greece's prime minister, Syriza forms anti-austerity coalition

Mon, 26 January 2015

Syriza leader Alexis Tsipras has been sworn in as Greece's new prime minister after his anti-austerity party Syriza agreed to form a coalition government with the anti-Europe Independent Greeks party ... [more]

UK IPO market expected to return to buoyancy in 2015, BDO survey says

Mon, 26 January 2015

The market for UK initial public offers is expected to regain its buoyancy in 2015 after several flotations were pulled towards the end of 2014 and despite the looming general election and oil prices ... [more]

Euro falls below $1.12 for the first time since November 2003

Fri, 23 January 2015

A day after the European Central Bank announced a plan to inject more than a trillion euros into the flagging Eurozone economy, the euro fell below $1.13 on Friday, hitting an 11-year low. On Thursday... [more]

Carney warns of growing inequality and calls for IT firms to be 'responsible' over tax

Fri, 23 January 2015

Mark Carney, the governor of the Bank of England (BoE), called for the world's big technologies firms to pay more taxes. Speaking at the World Economic Forum in Davos, Carney warned the threat of ineq... [more]

UK car production reaches highest level since 2007

Fri, 23 January 2015

The number of cars produced in the UK last year reached its highest level since 2007, as car plants produced 1.5m vehicles. According to a report released on Friday by Society of Motor Manufacturers a... [more]

RP Martin executives involved in Libor scandal banned from holding top City jobs

Thu, 22 January 2015

The Financial Conduct Authority (FCA) has banned the former boss and chief compliance officer at broker RP Martin from holding senior jobs in the City. On Thursday, David Caplin, the former chief exec... [more]

UK insurers capital won't rise under new EU rules, says BoE

Thu, 22 January 2015

Paul Fischer, the Bank of England (BoE) executive director for insurance supervision, said European Union (EU) rules to ensure stability in the market will not be an excuse for UK regulators to step u... [more]

CBI industrial trends show orders less than expected but optimism higher

Thu, 22 January 2015

The latest CBI UK industrial trends survey for January was a mixed bag, with the number of orders increasing by less than expected and firms expecting their export orders to tail-off in the coming qua... [more]

Mortgage lending was muted in December, CML says

Thu, 22 January 2015

Mortgage lending in Britain remained muted in December, fresh figures from one of the sector's main associations revealed on Thursday. The amount of funds offered to clients for home purchases was unc... [more]

Contribution to Brussels' coffers boosts public borrowing in December

Thu, 22 January 2015

Public sector net borrowing, excluding public sector banks (PSNBx), increased to £13.1bn in December of last year, rising by £2.9bn versus the same month of a year ago, as a result of Westminster's co... [more]

Ofgem launches probe into SSE

Wed, 21 January 2015

The energy regulator Ofgem is launching an investigation into energy firm SSE amid concerns it limits competition in the electricity connections market. The watchdog said it aimed to increase competit... [more]

US housing starts rise 4.4% in December, more than forecast by analysts

Wed, 21 January 2015

US housing starts rose 4.4% to 1.09m in December, beating forecasts for a 1.2% increase or 1.04m units. The Commerce Department's figures marked the highest level in more than six-and-a-half years and... [more]

UK jobless rate falls more than expected to 5.8% from 6%

Wed, 21 January 2015

The UK unemployment rate fell to 5.8% in the three months to November from 6% the previous period, ahead of the 5.9% forecast. The number of people in employment during the period has increased by 37,... [more]

BoE voted unanimously to keep interest rates and asset purchase programme unchanged

Wed, 21 January 2015

The Bank of England (BoE) voted unanimously to keep policy unchanged, according to minutes of the central bank's last meeting. The BoE on 8 January decided to maintain benchmark interest rates at 0.5%... [more]

Dominos confirms CFO resignation, predicts 'marginal' raise in profits before tax

Wed, 21 January 2015

Dominos Pizza Group has confirmed the resignation of its chief financial officer (CFO) and executive director Sean Wilkins. The company board has initiated the process of finding a new CFO and has sai... [more]

China 'likely' to slash rates as economy slides, according to poll

Mon, 19 January 2015

With a weakened housing market, slow-moving lending an poor global demand, China's economic growth will likely continue its decline, according to a poll of economists. As the world's second-largest ec... [more]

Rating agency Moody's questions UK mobile consolidation

Mon, 19 January 2015

After speculation that talks may take place between Telefonica and Hutchinson for the sale of O2 UK to the latter, analysts at rating agency Moody's have responded. Telecoms analyst Ivan Palacios, sai... [more]

UK set to benefit from first quarter drop in inflation, Item Club says

Mon, 19 January 2015

A rare fall in the cost of living in Britain is forecast for the first quarter of 2015, but any talk of deflation is overdone, according to a highly influential think-tank. In fact, the UK economy sho... [more]

UK home asking prices jump in January, but all is not well

Mon, 19 January 2015

The Chancellor's stamp-duty reform has stoked demand for homes but all is not quite well in the housing sector, according to Rightmove. Over the first eleven days of the year visits to the property we... [more]

Franc rally could see Swiss invest in London housing markets

Fri, 16 January 2015

Swiss investors could be set to invest in the London property market to capitalise on the rally of the Swiss franc. On Thursday, the currency surged as much as 30% against the euro and as much as 25% ... [more]

Alpari UK declares insolvency after Swiss franc surge

Fri, 16 January 2015

Alpari UK has declared insolvency as a result of the losses incurred by clients following the surge in the Swiss franc on Thursday. The broker said a majority of clients sustained losses which exceede... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Centrica 282.70 4.16 17:02
Randgold Resources Ltd. 5,595.00 2.66 17:11
International Consolidated Airlines Group SA (CDI) 561.00 2.19 16:57
SSE 1,545.00 1.91 17:00
easyJet 1,789.00 1.88 17:02

FTSE 100 Top Fallers

Name Last Chg.% Time
TUI AG Reg Shs (Post- 16/12/14)(DI) 1,132.00 -3.33 17:01
Weir Group 1,640.00 -2.79 16:51
Intertek Group 2,268.00 -2.70 17:08
Rolls-Royce Holdings 879.00 -2.66 17:10
ITV 225.90 -2.50 17:01