Economic News
FX round-up: Sterling ahead as BoE's Haldane hawkish on UK rates
Sterling put in an unfamiliar positive performance on most key crosses Wednesday thanks to a hawkish jawbone on UK interest rates by Bank of England chief economist Andy Haldane.
London close: FTSE ends down after Queen's Speech, Haldane's rate-rise comments
Shares in London were under pressure Thursday as sterling zipped ahead on news Bank of England chief economist Andy Haldane said he would likely vote for a rate rise later in 2017.
Grenfell Tower survivors to be rehoused in luxury complex
The UK government has bought 68 flats in a luxury west London apartment block in order to rehouse the survivors of the Grenfell Tower fire.
Commodities: Crude extends gains as EIA confirms US stores drop
Crude-oil futures got a mild shove on a sun-soaked Wednesday afternoon in London as fresh official data showed a draw in US stores of the black liquid last week.
London property sales fall 18% in 2016
Home sales in Britain fell significantly during 2016, with London experiencing an 18% drop in property deals in comparison to 2015.
Queen's speech sees embattled May change tack, DUP demands to the fore
In the Queen's speech to formally open parliament, Prime Minister Theresa May's minority government announced an intention to "provide certainty" over Brexit and maintain a "deep and special" alliance with the EU, as well as proposing a review of terror laws, technical education and mental health care.
Macquarie cuts Brent price forecasts, says OPEC has few options
Macquarie slashed its forecasts for the average price of Brent, predicting that too much oil will be produced, loaded and marketed around the world until 2020.
US crude oil inventories fall for a second week
Crude oil inventories in the States shrank for a second week in a row alongside a drop in gasoline stockpiles, official data showed.
Existing US home sales outpace forecasts in May
Existing home sales in the States rose past forecasts last month as some buyers managed to overcome the challenging market conditions that were prevailing in many areas.
Hike in Bank Rate might be prudent in second half, BoE's Haldane says
The Bank of England's chef economist signaled he too might soon shift his stance in favour of a hike in Bank Rate.
Macron's new government loses third minister as MoDem's Bayrou resigns
François Bayrou, French justice minister and key ally of Emmanuel Macron, has resigned from his position as his MoDem party face allegations of corruption.
UK house price growth to remain low but protracted falls unlikely, HSBC says
UK home prices will grow very little in the short-term despite the recent sharp slowdown, but they will not fall in a sustained manner, at least outside of London, a top investment bank said.
UK media and entertainment nears £100bn revenue mark despite uncertainty
The UK media and entertainment sector saw the revenues jump last year despite the backdrop of political and economical uncertainty in the country, according to Deloitte's Media Metrics 2017 report.
UK budget deficit falls to decade low but expected to rise this year
UK public borrowing declined more than expected in May, providing encouraging reading for Chancellor Philip Hammond, although the budget deficit is still expected to increase over the rest of the year as the economy weakens.
Macquarie downgrades BP, prefers Total, Galp
The world's oil majors have made substantial progress in boosting their ability to make profits even in a low oil price environment, but low prices were set to strain their finances again over the short-term, according to Macquarie.
Instability worries as Saudi crown prince replaced by son of King Salman
The king of Saudi Arabia has unexpectedly removed nephew Mohammed bin Nayef from his influential role as crown prince and deputy prime minister, replacing him with his son Prince Mohammed bin Salman.