Economic News
US oil inventories slip as exports jump, DoE says
Inventories of crude oil and its derivative products in the States were lower across the board last week amid rising exports.
Poisoned chalice: Why the East Coast franchise keeps failing
Wednesday’s news that the East Coast rail franchise would once again fall into government hands marks the third time since privatisation that the high-speed route between London and Scotland has failed.
US industrial production falls short of forecasts in March
US industrial production fell short of forecasts last month despite a sharp jump in the output of business equipment.
Tory policy changes caused 'worrying' collapse in clean energy investment - MPs
UK government policy changes have contributed to a “dramatic and worrying” collapse in clean energy investment since 2015, a committee of MPs said on Wednesday.
Households to cough extra £1.5bn after tweak in green subsidy backfires
UK energy users will be forced to pay an extra £1. 5bn for their green energy over the next fifteen years due to a tweak of the government’s policy on green energy subsidies, the National Audit Office has warned.
US housing starts peak in April, economists say
A key gauge of housing market activity in the US turned down last month, although the details of the report were somewhat stronger, according to economists.
North Korea threatens to call off US summit over nuclear demands
North Korea said it will not engage in economic trade with the US in exchange for its denuclearization and threatened to cancel the upcoming summit between leader Kim Jong-Un and US president Donald Trump.
Italian bonds rise as 5 Star, League economic plans leaked
Italian bond yields rose sharply on Wednesday after a plan by the populist 5 Star and League parties leaked revealing they want to write off €250bn (£220bn) in European Central Bank debt as part of a deal to govern in coalition.
Eurozone inflation confirmed at 1.2% in April
Annual inflation in the eurozone slowed to 1. 2% in April from 1. 3% the month before, well below the European Central Bank's target of close to but under 2%, data from Eurostat confirmed on Wednesday.