IEA: Oil prices won’t breach $100 mark until 2040 November 10, 2015 Due to the supply glut it will be another 25 years before oil prices break through the crucial $100 mark, according to the International Energy Agency (IEA). And the black stuff is unlikely to hit $80 a barrel before the end of the next decade, as annual global demand growth rises by 900,000 barrels per day to [...]
Black Friday and Cyber Monday 2015: UK shoppers holding out to snap up bargains in November pushed October sales down November 10, 2015 UK retail sales were disappointing last month, according to a survey by the British Retail Consortium released today, suggesting that some shoppers may be holding out for some deals around Black Friday at the end of November. Retail sales decreased 0.2 per cent on a like-for-like basis from October 2014, when they were unchanged from the preceding [...]
Moody’s warns of global shockwaves as fallout from China slowdown threatens growth prospects November 10, 2015 Global economic stability is at risk from financial shocks in the face of a bigger-than-expected fallout from China’s slowing growth, a new report from Moody’s has warned. The credit ratings agency also said that policymakers may find it difficult to act against potential shockwaves as they “lack the ample fiscal and monetary policy buffers” needed to [...]
Portugal’s government is likely to recieve a vote of no confidence – here’s what you need to know November 9, 2015 The Portuguese Prime Minister and his minority coalition government face a major confidence vote in parliament today. Here's what you need to know: The Prime Minister is likely to lose The centre-right coalition has the most seats in parliament but does not have a majority. After October's election, the PSD, the People’s Party and Portugal Ahead held 107 [...]
Russia’s insurers are too driven by the motor market – S&P Emerging Market Insurance Forum November 9, 2015 Russia's insurance industry is overly dependent on motoring, creating problems as the market goes into decline, according to research from Standard & Poor's (S&P). At an emerging market forum hosted by the ratings agency this evening, the audience were told that motor hull was responsible for 22 per cent of insurance premiums in 2014, more than [...]
Insurers to announce Indian investment plans during Narendra Modi’s UK Visit November 9, 2015 A number of insurers will announce this week that they are planning to pour money into Indian investments. The announcement will coincide with Indian Prime Minister Narendra Modi’s visit to the UK. Aviva, Bupa, Lloyd’s of London, Standard Life and Willis will confirm collect plans to put money into Indian joint ventures and partnerships, Sky [...]
Greece has until the end of the week to meet bank recapitalisation requirements, says Eurogroup president Jeroen Dijsselbloem November 9, 2015 Eurozone finance ministers have given Greece until the end of the week to make the necessary reforms needed to complete its bank bailout. Europe has put £10bn aside for Greece but Jeroen Dijsselbloem, head of the Eurogroup of Eurozone finance ministers, said after a meeting of finance ministers in Brussels that "the agreed conditionalities need to be met". [...]
Finance sector hiring: Demand for compliance workers in the City jumps in October November 9, 2015 It may not have a reputation as the most exciting sector but compliance specialists are increasingly in demand. In figures shown exclusively to Morning Wire, recruitment consultancy Robert Walters revealed compliance vacancies in Canada in October rose 13 per cent compared to September. This figure also represents a 17 per cent increase compared [...]
OECD cuts global growth forecast to 2.9 per cent as headwinds from emerging markets “greatly increase” November 9, 2015 The Organisation for Economic Cooperation and Development has cut its global growth forecast for 2.9 per cent. The Paris-based think tank attributed a "sharp slowdown" in emerging markets, which it called "deeply concerning". "Headwinds [in emerging economies] have generally increased, reflecting weaker commodity prices, tighter credit conditions and lower potential output growth, with the risk [...]
UK house prices: London property prices to rise a third by 2019 as demand continues to outweigh supply November 9, 2015 London house prices will rise by almost a third between this year and 2019, new research has found, as demand in the capital continues to vastly outweigh supply. The CBRE Regional Development Land report forecast nine per cent growth this year, rising to 31 per cent by 2019. In the wider South East, prices will rise six [...]