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Economic news

Tuition fees would drop to £6,000 under Labour

Tuition fees would drop to £6,000 under Labour

Fri, 27 February 2015

Ed Miliband has confirmed that if elected, Labour will cut tuition fees in England to £6,000 from autumn 2006. Promising the policy would be non-negotiable in the event of a coalition, Miliband explai... [more]

US GDP falls from 2.6% to 2.2% in the fourth quarter

US GDP falls from 2.6% to 2.2% in the fourth quarter

Fri, 27 February 2015

US gross domestic product in the fourth quarter fell to 2.2% from a 2.6% in the previous quarter, but above analysts' expectations of a 2.0% reading. Meanwhile, US personal consumption declined slight... [more]

German consumer price index above forecast in February

German consumer price index above forecast in February

Fri, 27 February 2015

German preliminary consumer price index (CPI) inflation rose 0.1% year-on-year in February, compared with expectations of a 0.3% contraction and after a 0.4% decline in January. The harmonised year-on... [more]

UK consumer confidence holds steady in February

UK consumer confidence holds steady in February

Fri, 27 February 2015

British consumer confidence remained steady in February, a new survey has shown. According to a report released on Friday by research firm GfK, low inflation and an increase in wages made Britons more... [more]

Santander confirmed as next sponsor of London's 'Boris Bikes'

Santander confirmed as next sponsor of London's "Boris Bikes"

Fri, 27 February 2015

London's blue 'Boris bikes' will be getting a red makeover as Santander was finally confirmed as the new sponsor for the cycle hire scheme. A seven-year sponsorship worth £6.25m a year has been agreed... [more]

German parliament approves 4-month extension to Greece's bailout

Fri, 27 February 2015

The German parliament has approved a four-month extension to Greece's bailout. The extension had been approved last week by Greece's creditors in exchange for a number of economic reforms and budget c... [more]

BBC licence fee needs re-vamping, argue MPs

Thu, 26 February 2015

British MPs have condemned the BBC's annual licence fee, claiming it needs to be modernised with a new levy in the next 15 years. According to the House of Commons Culture, Media and Sport Committee, ... [more]

Conservatives dramatically miss net migration targets

Thu, 26 February 2015

Net migration to the UK has risen to 298,000, according to the final set of pre-election figures. The numbers, for the year ending September 2014, represent a marked increase from the level in 2010 wh... [more]

Citi cuts its 2015 outlook for US but raises for Eurozone

Thu, 26 February 2015

US banking giant Citigroup adjusted its economic outlook for the US and Eurozone, cutting 2015 growth forecasts for the world's largest economy but raising its forecasts for the 17-nation bloc. In its... [more]

Britain's manufacturers give industry vote of confidence ahead of election

Thu, 26 February 2015

Britain's manufacturing industry has been given a vote of confidence by the sector's leaders ahead of the general elections. According to a survey by manufacturers' organisation EEF, some 96% of the U... [more]

Retail fund sales sink sharply in January, says Investment Association

Thu, 26 February 2015

Retail fund sales plummeted in January, according to the Investment Association, showing that investors were showing caution after sales reached a four-year high in 2014. Net retail sales totalled jus... [more]

ECB's QE triggers EUR92bn increase in European pension liabilities

Thu, 26 February 2015

The European Central Bank's quantitative easing measures will indirectly increase European pension liabilities by €92bn, according to Standard & Poor's. The ratings agency says that the launch of... [more]

Ed Miliband: Leaving the EU would destabilise UK

Thu, 26 February 2015

Ed Miliband argued that leaving the EU would provide no political gain and could radically damage British business, in a speech to the Engineering Employers Federation (EEF) . Miliband warned: "It is ... [more]

Emma Thompson and Greg Wise won't pay tax until HSBC execs "go to prison"

Thu, 26 February 2015

Actor Greg Wise and Oscar winner Emma Thompson will stage an act of civil disobedience until HMRC cracks down on HSBC over the recent tax evasion scandal. In an interview with the Evening Standard, Wi... [more]

UK confirms economic growth at 0.5% in Q4

Thu, 26 February 2015

The UK economy confirmed growth of 0.5% in the fourth quarter of 2014, in line with the preliminary reading and economists' expectations. The data showed the UK grew 2.7% on an annual basis, up from a... [more]

NHS devolution will begin in Manchester

Wed, 25 February 2015

Greater Manchester will become the first English region to control its own health spending, as an extension of its devolved powers. The region's councils and health groups, under the leadership of an ... [more]

Government to crack down on cold-callers

Wed, 25 February 2015

Companies behind cold-calls and text messages could face fines of up to £500,000 under new laws being made by the government. At present, firms can only be punished if the Information Commissioner can... [more]

FTSE 100 no longer a meaningful reflection of UK economy

Wed, 25 February 2015

It's probably unfair to call the FTSE 100 a truly British index these days. With around three quarters of revenues from companies listed on the index now being generated overseas, the London leading b... [more]

One in every 40 UK workers on zero-hour contracts

Wed, 25 February 2015

Almost 700,000 British people are on zero-hour contracts for their main job, according to figures from the Office for National Statistics (ONS). In 2013, only 1.9% of the employed population were on z... [more]

Bonds: Mind the political risks in Euroland, Citi says

Wed, 25 February 2015

These were the movements in the yields of some of the most widely followed 10-year sovereign bonds: US: 1.99% (+1bp) UK: 1.72% (-5bp) France: 0.61% (-4bp) Germany: 0.33% (-5bp) Italy: 1.49% (+1bp)... [more]

UK home loans in January better-than-expectations, but 20% down versus last year

Wed, 25 February 2015

Mortgage approvals in the UK increased in January beating expectations, the British Banker's Association (BBA) said on Wednesday. The number of mortgage approvals rose to 36,400 in January against 35,... [more]

Electoral register loses 920,000 voters

Tue, 24 February 2015

England and Wales' electoral registers shrank by 920,000 between March and December 2014, according to the Electoral Commission (EC). The 2% reduction was discovered while the EC were taking snapshot ... [more]

UK will have to import most of its food in 25 years, NFU says

Tue, 24 February 2015

The majority of the UK's food will be imported within a generation as the nation becomes less self-sufficient, say farming leaders. Britain's rising population and faltering farm productivity could le... [more]

UK to train Ukraine's troops, says Cameron

Tue, 24 February 2015

British military personnel will be sent to Ukraine in the next month to provide advice and training, according to Prime Minister David Cameron. Pro-Russian rebels have recently been accused of breachi... [more]

Footsie closes at all-time high

Tue, 24 February 2015

The top-flight index finished the Tuesday session at a record level of 6,949.63 up by 0.54% on the day. After a 15-year interval the Footsie managed to top its previous best register, hit on 30 Decemb... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
International Consolidated Airlines Group SA (CDI) 580.00 3.66 17:11
Associated British Foods 3,125.00 2.49 17:10
Intertek Group 2,530.00 2.43 17:10
InterContinental Hotels Group 2,650.00 2.12 17:10
Imperial Tobacco Group 3,193.00 2.08 17:08

FTSE 100 Top Fallers

Name Last Chg.% Time
Intu Properties 353.50 -5.10 17:07
Royal Bank of Scotland Group 367.20 -5.02 17:11
Barclays 256.90 -1.98 17:11
Weir Group 1,704.00 -1.73 16:56
Aberdeen Asset Management 468.60 -1.53 17:07