Eurozone construction jumps in November January 19, 2016 Construction in the Eurozone jumped 0.8 per cent in November compared with the month, adding to the evidence that the economy of the currency-bloc is picking up speed. Compared with the same month last year, construction was up 2.1 per cent, the figures released this morning by Eurostat, the statistical office of the EU, show. While [...]
Ofgem has helped make it easier for consumers to switch energy provider – now British businesses deserve a better deal too January 19, 2016 The Which? Energy survey this week exposed yet again the woeful customer service record of the ‘Big Six’ energy companies, with smaller suppliers head and shoulders above their larger rivals. Despite this, it is heartening to see consumers looking for better deals, and with four million switching supplier in 2015, Ofgem should be applauded for its sensible regulation of [...]
Morgan Stanley share price rises in pre-market trading as bank beats analyst expectations with fourth-quarter profit January 19, 2016 Morgan Stanley beat analyst expectations when it reported a fourth-quarter profit this morning, thanks to lower legal costs and compensation expenses. The Wall Street bank exceeded analysts’ expectations for both earnings and revenue, reporting 43 cents a share in profit on $7.9bn (£5.54bn) of revenue. Analysts had expected a quarterly profit of 33 cents a share on [...]
Pinot Noir Madam? Aldi challenges retail rivals by launching online wine shop January 19, 2016 Discounter Aldi has stepped up competition with its retailing rivals after launching its first online shopping service today selling over 90 different wines and champagnes by the case. The German retailer's new online wine cellar includes best sellers from its in-store ranges as well as a new range of "fine boutique wines", called the Lot Series, available only [...]
Bank of America share price rises in pre-market trading as bank reports 9.8 per cent rise in quarterly profit January 19, 2016 Bank of America beat analyst expectations this morning when it reported a 9.8 per cent rise in profit for the fourth quarter. The second-largest US bank by assets, Bank of America reported a profit of $3.34bn (£2.34bn), or 28 cents a share. Analysts had expected earnings of 26 cents a share, according to consensus compiled [...]
Oil prices: Brent crude inches above $30 per barrel January 19, 2016 Oil prices rose above the $30 per barrel mark today, as traders weighed mixed messages from global oil markets. Brent crude, the global benchmark, jumped as much as five per cent to above $30 per barrel today. Meanwhile, West Texas Intermediate (WTI) crude, the US benchmark, rose 1.8 per cent to $29.96. It came as data [...]
Sterling’s gains wiped as Bank of England governor Mark Carney says now is not the time for an interest rate hike January 19, 2016 The pound lost over half a cent against the dollar today, erasing earlier gains, as Bank of England governor Mark Carney said now is not the time to raise rates. Last summer Carney said the decision on whether to raise interest rates from record lows "would likely come into sharper relief around the turn of the year." "Well [...]
Eurozone inflation climbs to highest rate since July January 19, 2016 Annual inflation in the Eurozone rose to 0.2 per cent in December, according to figures released this morning. December's inflation rate is the highest since July with November's inflation rate revised down to 0.1 per cent from 0.2 per cent. The figures from Eurostat, the statistical office of the European Union, confirm an earlier estimate of [...]
So much for the winter lull: UK house price growth jumps again in November January 19, 2016 UK house prices grew 7.7 per cent in the year to November, up from seven per cent the month before, as people rushed to buy homes before interest rates rise. The east of England led the charge, with price growth of 10.2 per cent, while prices in the south east and London rose 9.8 per [...]
IMF has cut its global growth outlook due to China, the US dollar and geopolitical tensions January 19, 2016 The International Monetary Fund (IMF) has cut its global growth forecast for this year by 0.2 percentage points to 3.4 per cent, citing risks relating to the emerging markets. It comes amid a medley of risks which includes a sharper-than-expected slowdown in China, the impact of a strong dollar on the US economy and geopolitical tensions in a [...]