The Earth Index: How much does nature add to the global economy? October 8, 2015 The Earth's natural resources are a crucial part of the world's economy, helping to drive agriculture, tourism and the production of man-made objects. Today, BBC published its “Earth Index”, which shows how the contribution of these vital resources compares to other parts of the economy. It turns out the financial value of nature is huge, [...]
London’s housing market heats up with 25,000 new properties for sale in September October 8, 2015 London's housing market is hotting up again after a quiet summer, with 25,000 new properties listed for sale in September. The housing market traditionally picks up in the autumn, and there was 27.1 per cent increase in properties for sale in London between August and September this year, despite the housing shortage. Only [...]
Global rents for high-end homes at slowest rate of growth since 2010 October 8, 2015 Global rents for high-end homes grew at their slowest rate in more than five years in the second quarter, research out yesterday claimed. Knight Frank’s index of prime residential rents rose by 0.2 per cent in the year to June, down from 3.2 per cent two years earlier and marking the slowest rate of [...]
Economists urge Bank of England to postpone interest rate rise October 8, 2015 Morning Wire’s panel of economists urged the UK’s rate-setters to keep interest rates at their record low of 0.5 per cent this month, as the global economy slows and inflation remains well below its two per cent target. Professor Steve Keen, head of the school of economics, history and politics at London’s Kingston University, [...]
Hays share price drops as weak euro and Australian dollar hit profit October 8, 2015 A positive boost from the UK’s strong jobs market was not enough to offset the negative impact of a weak euro for recruiter Hays, it said this morning, pushing its share price down 6.7 per cent. The FTSE 250 professional recruiter reported profit growth of three per cent in the three months ending 30 September, compared with the same [...]
Forget Deutsche Bank losses – outlook for German banks has improved, says Moody’s October 8, 2015 Moody’s has upgraded the outlook for Germany’s banking system from negative to stable – despite its biggest bank, Deutsche Bank, saying last night that it will lose over €6.2bn (£4.6bn) in the third quarter. The ratings agency said the move “reflects the removal of uncertainty surrounding government support following the introduction of a banking resolution framework in the country. [...]
Germany exports suffer sharpest drop in six years October 8, 2015 German exports plummeted by 5.2 per cent in August compared with July, the sharpest monthly decline since January 2009, data released this morning reveals. While no country breakdown is given, economists say the weakness is likely due to a slowdown in emerging markets, after factory orders published yesterday showed a contraction in non-Eurozone foreign orders. [...]
Federal Reserve Chair Janet Yellen reiterates US on course to hike interest rates this year October 7, 2015 Federal Reserve chair Janet Yellen today reiterated that the US is on course to raise interest rates this year. Speaking a week after the Fed delayed a rise in borrowing costs, she said inflation is being weighed down by temporary factors such as a strong dollar and low oil prices. However as these decrease inflation [...]
IMF warns world economic outlook at risk from $18 trillion emerging market debt pile October 7, 2015 Global financial stability is “not yet assured”, the International Monetary Fund has warned, as it said emerging market debt had more than quadrupled over the last decade. The stark warning, from the director of the IMF’s Monetary and Capital Markets Department Jose Vinals, comes just a day after the IMF said the outlook for emerging [...]
Acton, Earls Court, Old Oak Common and Nine Elms: These are London’s next 10 housebuilding hotspots October 7, 2015 The capital's supply of homes for sale – both new-builds and people putting their previously-loved properties on the market – continues to be pathetically low. But as the government attempts to increase the number of homes being built in the capital, parts of London are about to experience mini housebuilding revolutions. Knight Frank's Global Development Report highlights the areas where the biggest [...]