High Court to decide on judicial review for fracking proposals in North Yorkshire November 22, 2016 British High Court judges will announce whether they will back a judicial review into proposals to use test hydraulic fracturing – or fracking – in North Yorkshire. Any review would likely be held this week, but if the application is not successful gas company Third Energy will be able to continue work on the site. Third [...]
ECB president Mario Draghi maintains central bank’s stance on ultra-low interest rates November 21, 2016 European Central Bank president Mario Draghi has given a firm statement in favour of maintaining interest rates at zero per cent to continue to boost Eurozone inflation towards its two per cent target rate. In a statement to the European Parliament, he said: “We remain committed to preserving the very substantial degree of monetary accommodation [...]
Record highs on US stock exchanges driven by rising oil prices ahead of possible Opec production cut November 21, 2016 US equities moved upwards as the Nasdaq stock exchange hit a fresh all-time record high on intraday trading while the Russell 2000 also broke records on the back of expectations of an oil price rise. The Nasdaq Composite index gained over 0.5 per cent to break the previous all-time high of 5,359.90 points at 5,362.48. The [...]
The pound reaches $1.25 against the dollar on yen trading as May announces desire for business-friendly Brexit November 21, 2016 The pound gained in value in Monday afternoon trading, reversing some of the losses inflicted over the past few weeks. The pound rose over one per cent from the previous close of $1.23 against the dollar, breaking the $1.25 mark. Sterling was up over 1.2 per cent against the yen, to over ¥138.65, while it gained [...]
Citi and JP Morgan top regulators’ list of systemically important banks, as HSBC and Barclays move to lower tier November 21, 2016 Citigroup has joined JP Morgan Chase as one of the world's top two "systemically important banks", according to an updated list published today by the Financial Stability Board (FSB). Banks in the top tier will have to hold 2.5 per cent of their assets as buffer capital in case of another crisis. This means that US [...]
A quarter of Brits think they can’t afford a dignified existence, while one fifth regularly can’t pay bills – although it’s better than France November 21, 2016 More than a quarter of Britons say that they “do not have enough money for a dignified existence” – although this was less than France, where 46 per cent of citizens thought they needed more for their dignity, a new survey says. A fifth of UK residents said that they are sometimes unable to pay their [...]
Oil continues upward moves despite dollar strength as Putin raises Opec cut hopes November 21, 2016 Oil prices continued their upward move since Friday on expectations that Opec would agree to a production cut at their next meeting. The rise came despite the US dollar’s continued move higher, which usually has a negative effect on commodities traded in dollars. Futures for West Texas Intermediate, the US oil benchmark, were up more [...]
We asked economists what they want from Philip Hammond’s first Autumn Statement November 21, 2016 During the rapid post-Brexit shuffle at the top of UK politics many a word was spoken in haste, and perhaps none more so than confident predictions that Philip Hammond would put paid to George Osborne’s austerity politics with a bold return to Keynesian government investment. That might have been a bit rash, but it demonstrates [...]
Powa founder Dan Wagner paid £50,000 to another company before administrators were called in on fintech unicorn November 20, 2016 The former owner of collapsed fintech start-up Powa Technologies paid £50,000 to a company he owned in January this year, shortly before administrators were called in to break up the company. Dan Wagner, the charismatic founder of the London-based firm, paid the money to Bright Station Ventures in January of this year, as was first reported [...]
Tesco to build homes on top of London superstores and carparks in bid to raise £400m from extensive property November 20, 2016 Tesco is in talks to build homes on top of its London stores and car parks in a bid to squeeze more value out of its massive land holdings. The supermarket giant hopes that the bold strategy could earn up to £400m. The homes, which could potentially number in the thousands, would take advantage of [...]
