MPs grill Bank of England’s Mark Carney on Beijing and interest rate rise timings September 17, 2015 Despite raising questions over the accuracy of Chinese economic data, Bank of England governor Mark Carney maintained yesterday that the threat to the world economy from China’s stock-market slump did not signal a slowdown for Britain. Giving evidence to the Treasury Select Committee (TSC), Carney said: “Certainly, the Chinese statistics are published with remarkable speed [...]
A sharper slowdown in China could derail the global economic recovery September 17, 2015 A slump in China poses a major threat to the global economy, especially if financial markets deteriorate further, the Organisation for Economic Cooperation and Development (OECD) said yesterday. China’s economy is expected to grow 6.7 per cent this year and 6.5 per cent in 2016, representing a slowdown from recent years’ growth. Some [...]
London is prime destination for foreign ventures September 17, 2015 London is the greatest city in the world at attracting foreign investment, according to new research. The capital left the likes of Paris, Singapore, Chicago and Dubai far in its wake for the seventh year running in 2014, according to the ranking from tech giant IBM. Foreign investment has generated 11,300 London jobs [...]
Fracking could help the UK meet its low carbon targets, says report September 16, 2015 Shale gas should be used to help the UK transition to more renewable energy sources and the revenue it generates can be invested in low carbon technologies, a new report has said. “The evidence is clear that it is not feasible to create a renewable and low carbon industry in the short term in the [...]
US interest rate rise 2015: Dollar droops ahead of the Federal Reserve’s big decision September 16, 2015 The dollar tumbled with less than a day to go until the Federal Reserve makes its big decision, falling one per cent against the pound. With the dollar dropping against 15 of the 16 major currencies tracked by Bloomberg, the biggest winners were the pound, gaining one per cent, and the South African rand, gaining [...]
How to make London more affordable for new grads September 16, 2015 London is in the midst of a housing crisis, and the UK's poorest graduates are bearing the brunt of this, however ramping up the number of innovate housing schemes for young people could help alleviate this. Less than six per cent of new graduates who move to London come from the most disadvantaged 20 per cent of [...]
OECD: China slump clouds global economic growth outlook September 16, 2015 A slowdown in China poses a significant threat to the world economy – especially if financial market conditions continue to deteriorate this year – the Organisation for Economic Cooperation and Development (OECD) said this morning. China’s economy is expected to grow 6.7 per cent this year and 6.5 per cent in 2016, representing a slowdown from [...]
The UK will soon run out of diesel and become reliant on foreign markets, warns RAC Foundation September 16, 2015 The UK will soon be unable to produce enough diesel to satisfy domestic demand, according to the RAC Foundation, putting it at risk of becoming completely dependant on foreign markets. In its latest report, the motoring research group said the number of diesel-run cars in Britain had increased from 1.6m in 1994 to 11m [...]
London is the top destination for overseas technology workers September 16, 2015 London is the most popular destination in Europe for technology jobs as the UK digital economy continues to grow. A new set of data from jobs site Indeed shows that 3.4 per cent of all overseas jobs searches are for London specifically, with the figure rising to 8.2 per cent for tech jobs. Nearly one-third [...]
Fed rate hike expectations: Cheap oil and strong dollar blot outlook for Federal Reserve interest rates decision September 16, 2015 Clouds are gathering over the US economy as the release of bearish data spooks investors ahead of tomorrow’s highly anticipated Federal Reserve interest rate decision. Manufacturing output contracted by 0.5 per cent in August, according to Federal Reserve data released yesterday – the sector’s biggest output decline since January 2014. Industrial production, which includes [...]