The bear is back: Experts warn the FTSE 100 is on the brink as global market volatility continues January 19, 2016 Fears that the FTSE 100 could be dragged into bear market territory deepened yesterday as global equities were gripped by volatility in another day of torrid trading. The FTSE 100 has so far managed to fend off falling into the bear trap, trading around 19 per cent off its all time high of 7,103 in April [...]
Oil steadies after Iranian influx pushes the price to under $28 January 18, 2016 The oil price steadied in yesterday’s trading after the immediate reaction to Iranian production coming back onto the market sent it below $28 a barrel. International benchmark Brent crude fell to fresh lows not seen since September 2003, hitting $27.67 before climbing back about $28. Oil cartel group Opec warned in its latest monthly review [...]
Economists: Iran faces barriers to strong growth January 18, 2016 The lifting of sanctions against Iran has not erased pessimism over the future of its economic growth. Iran’s economic growth plummeted after sanctions relating to its nuclear programme were put in place. Yet some are warning the removal of restrictions may not mark a return to high levels of pre-sanctions growth for a sustained period. “Given [...]
Bank of Enland’s Gertjan Vlieghe: Pay and inflation are not high enough to justify interest rate hike January 18, 2016 The Bank of England’s newest rate-setter Gertjan Vlieghe has said today he is unlikely to vote for an interest rate rise unless pay growth and inflation pick up and growth remains robust. “In order to be confident enough of the medium-term inflation outlook to raise Bank Rate, I would like to see evidence that growth [...]
UK finance chiefs are worried about losing their top workers amid competition for talent January 18, 2016 UK finance directors are worried about losing their top talent as a professional talent war breaks out among finance firms. Of over 200 finance directors surveyed by recruiter Robert Half, 38 per cent said a major internal concern for 2016 was keeping hold of talent. The headache for firms was evident last year – 58 per [...]
Small UK businesses fear EU referendum currency swings January 18, 2016 A large number of smaller UK businesses trading internationally are concerned about potential swings in the exchange rate caused by an EU referendum, according to new survey figures published today. The survey of over 1,000 senior decision makers at small and medium-sized enterprises (SMEs) revealed 75 per cent of them feared currency volatility related to [...]
US economy gets off to a slow start to 2016, according to new business survey January 18, 2016 The US economy is undergoing a slow start to the year, according to a survey of businesses released today. The sales managers’ index (SMI) compiled by World Economics dropped to a score of 51.1 in January from 51.3 in the previous month. Scores above 50 indicate the economy expanded on the month. Firms also said [...]
Davos 2016: Economists say Oxfam claim that 62 people own as much as the poorest half of the world’s population is “meaningless and misleading” January 18, 2016 Economists have slammed Oxfam for claiming 62 people own as much as the poorest half of the world’s population, saying the statistics are “meaningless and misleading”. Oxfam, a global aid and development charity, issued a new report today, ahead of the World Economic Forum (WEF) annual meeting in Davos, claiming that the wealth of the [...]
Oxfam’s pre-Davos wealth report says the world’s 62 richest people own half the wealth – but global inequality is actually falling January 18, 2016 Oxfam gets a lot of mileage out of its global inequality statistics. Back in 2014, we were told that the world's top 85 wealthiest people owned as much as the bottom half, 3.5bn. Now we’re told 62 own as much as the other half—you could fit them all on a coach, the Oxfam chief executive helpfully told us in [...]
Empyrean Energy share price rockets more than 50 per cent to the top of Aim January 18, 2016 Empyrean Energy shares soared to the top of the Aim today, on the sale of its stake in a US shale gas project for $71.5m (£50m) despite the oil price rout. The company's shares rose as much as 76 per cent to 8.8p per share this morning, after it announced the sale of its three per [...]