What big tobacco needs to know about the UK’s e-cigarette smokers February 18, 2016 We all know that as the number of smokers falls, big tobacco is scrambling to get into the e-cigarette market. But figures from the Office for National Statistics, published this morning, showed while vapers are a growing community, their loyalty is questionable… Here's what big tobacco needs to know. 1. Traditional smoking is A Thing [...]
European Central Bank policy makers divided on further easing as one suggests allowing inflation to overshoot February 18, 2016 Rate setters at the European Central Bank were divided in their last meeting as to how they should respond to financial market turbulence and increased risks to growth. Some members thought acting preemptively to mitigate rising risks to growth and inflation would be appropriate while others warned against it. One member even suggested that the [...]
Moody’s gets gloomier on global economic growth as it warns of rising risks February 18, 2016 Risks to the global economy have increased, with growth in the US, Eurozone and China looking more precarious, a major credit ratings agency has said today. A steep drop in global share prices since the start of the year makes disappointing growth in the US more likely, Moody’s said. It believes the US economy will expand 2.3 [...]
OECD cuts UK growth forecast to 2.1 per cent as it warns “urgent” policy changes are needed to increase global growth February 18, 2016 One of the world's most influential economic think tanks has slashed the UK's growth by 0.3 percentage points, as it warned an "urgent" change to are needed from policymakers to push up global growth. The organisation said it expected UK growth to reach 2.1 per cent this year, compared with 2.4 per cent it previously expected, [...]
UK house prices: Mortgage lending has strongest start to the year since 2008 February 18, 2016 Mortgage lending had its strongest start to the year for eight years, according to figures released this morning. Gross mortgage lending hit £17.9bn in January, 21 per cent higher than the same month last year, the Council of Mortgage Lenders said. It is the largest amount of mortgage lending conducted in January since 2008 when £25.2bn [...]
Oil price rises again as Brent crude climbs – but Tullow Oil share price is hit February 18, 2016 Oil prices climbed again in early trading today, after Iran "welcomed" (but made no commitments to) a deal between Russia and Saudi Arabia to keep a lid on production. Brent crude climbed to $34.44 per barrel today, while WTI crude, the US benchmark, rose to $31.14. That puts Brent crude just shy of 25 per [...]
Chinese businesses say economic growth is still subdued February 17, 2016 China's economy is barely growing, according to business survey data published today. World Economics’ sales managers index (SMI) posted a score 51.2 in February, only slightly above the 50 mark that indicates no change in economic activity on the previous month. The figure “continues to suggest ongoing, albeit modest growth in economic activity and an [...]
Federal Reserve policy makers highlight increased uncertainty and growing risks in January meeting February 17, 2016 Interest rate setters at the US Federal Reserve said it was premature to alter their economic outlook given strong financial market turbulence this year. However, they had become more cautious, emphasising that risks had increased. "Domestic financial conditions tightened over the inter-meeting period, as turmoil in Chinese financial markets and lower oil prices contributed to [...]
At the close: FTSE storms over 6,000 in shock four day nine per cent rally as share prices stay volatile February 17, 2016 The FTSE 100 has smashed through the 6,000 barrier, less than a week after falling to lows of just over 5,500. The top share index closed at 6,030.32, up 2.9 per cent on the day, adding over nine per cent in the last four trading sessions. The rebound comes amid recent extreme market volatility across Europe's stock markets, [...]
US industrial production starts 2016 in better shape as manufacturing and utilities pick up February 17, 2016 US industrial production was 0.7 per cent lower in the January than in the same month last year, according to figures released by the Federal Reserve today. While the data shows a third month of annual contraction, it is a slower rate than December's 1.8 per cent. Manufacturing, the biggest sub-sector of industrial production, climbed 1.2 [...]