Demand in US for new homes jumps in July September 24, 2015 New home sales in the US climbed strongly in August, indicating that the housing market is strengthening and that consumers are in a confident mood. Sales rose at an annual rate of 552,000, up 5.7 per cent on July, according to figures released by the commerce department yesterday. The annual rate is now the highest [...]
VW emissions scandal: Reduced emissions come at a price – if we aren’t prepared to accept this, we must expect more scandals like Volkswagen’s September 24, 2015 The scandal that has engulfed Volkswagen over the measurement of oxides of nitrogen has been held up as yet another example of large companies pursuing profitability by dubious means at the expense of the rest of the population. But this is an oversimplification. We want the best of all worlds, and messages from government try [...]
Glencore’s share price falls further as commodities rout makes giant FTSE 100’s biggest loser – again September 24, 2015 Glencore’s woes aren’t over yet, as the commodities firm’s share price plunged anew today, making it the FTSE 100’s biggest loser for the second day this week. Worries over China’s economic slowdown have been pushing the price of raw materials sharply down, and the commodities rout is taking its toll on Glencore, which is the [...]
Volkswagen emissions scandal: Fitch threatens VW with downgrade over car pollution catastrophe September 24, 2015 Credit ratings agency Fitch has placed Volkswagen on "negative watch" until the full scale of the emissions scandal that's engulfing the carmarker becomes clearer. "The rating action reflects the reputational damage on the group's brands following alleged manipulation of emission tests in the US and the expected multi-billion euros financial impact from potential fines, recall [...]
Bank of England deputy governor Ben Broadbent says interest rates won’t be rising anytime soon September 24, 2015 Bank of England (BoE) deputy governor, Ben Broadbent, has said that he isn't about to vote for the first interest rate hike in more than six years, unlike some of his fellow rate-setters. Referring to the monetary policy committee meeting in September, where policymakers voted 8-1 to hold rates, he told Reuters : "I was [...]
Apple iPhone 6s launch: Pope Francis visit to the US to delay deliveries of new smartphone in Washington, New York City and Philadelphia September 24, 2015 Unwitting Apple customers, eagerly awaiting the arrival of their brand new iPhone 6s on Friday, may just have to wait a little bit longer after a bigger arrival to the US: Pope Francis. The Pope's security arrangements are – as one would expect – going to block up the streets, causing major disruption. And not [...]
Mobile operators hit back at Ofcom plans to increase fees, claiming they threaten to increase consumer prices and hinder investment September 24, 2015 Mobile phone users could witness their bills increasing after Ofcom tripled fees for operators to use certain airwaves, providers have warned. The charge relates to the fees mobile operators Vodafone, O2, EE and Three pay for licences to provide 2G, 3G and 4G services and will come to a total of £199.6m each year, up [...]
ECB chief Mario Draghi will not “hesitate to act” if Eurozone inflation undershoots September 24, 2015 European Central Bank chief Mario Draghi said today the bank would not “hesitate” to expand its €1.1 trillion asset purchase programme if Eurozone inflation and growth turned out to be weaker than expected. Currently it is too early to tell whether turbulence in emerging markets and a falling oil and commodity prices will cause inflation [...]
Mining giant BHP Billiton share price jumps after dividend changes proposed to ensure payout to British investors September 24, 2015 Anglo-Australian mining giant BHP Billiton's share price climbed this morning, after revealing changes to its dividend funding policy to ensure British shareholders' dividends are paid out. The company is planning to change which funds are transferred between the Australian-listed company to the UK's plc arm, allowing it to meet its dividend requirements to its British [...]
BMW share price falls amid reports that its X3 xDrive model’s emissions exceeded EU limit September 24, 2015 BMW's share price plummeted this morning amid claims that one of its diesel vehicles exceeded the EU's emissions limit. The German car giant's stock fell as much as 7.3 per cent this morning, although staged a slight recovery to a drop of around six per cent at pixel time. The company was hit after reports [...]