British Gas owner Centrica warns political uncertainty could hit investment March 26, 2015 British Gas owner Centrica yesterday warned that the run-up to the 7 May election would have a knock-on effect on investment in the UK energy sector. “The UK market faces potential pressure in both the run-up to the UK General Election and in the policy decisions taken by the next government,” Centrica said in its [...]
Housing shortage hits first-time buyers despite government help March 26, 2015 The UK’s chronic housing shortage is forcing first-time buyers to accept lower quality properties. Natural light was cited as not being vital by 51 per cent of prospective buyers, survey figures released today by estate agents Your Move and Reeds Rains show. Additionally, 63 per cent would go without a bath while 11 per cent [...]
This map shows why airstrikes in Yemen are pushing up oil prices March 26, 2015 Yemen doesn't actually produce that much oil compared to some other Middle East nations. But news that it been hit by air strikes from Saudi Arabia and its Gulf allies sent global oil prices berserk today. Nervous investors helped push Brent crude, the global benchmark, as high as $59.78 per barrel, or a two-and-a-half week high. But [...]
These are the four biggest threats to financial stability, according to the Bank of England March 26, 2015 The financial policy committee (FPC) which looks after financial stability over at the Bank of England, has outlined the areas it intends to keep a closer eye on in its quarterly assessment released today. 1. Geopolitical turmoil Eurozone turmoil could pose a threat to future financial stability. There have been some encouraging signs recently but [...]
“Do business abroad,” enthuses export expert Myleene Klass March 26, 2015 Fresh from lambasting Ed Miliband about his plans to redistribute the wealth through a mansion tax, former pop star and Littlewoods brand ambassador Myleene Klass has climbed back onto her soapbox – this time, to tell businesses they should be doing more exporting. Klass, who famously told Miliband he "may as well tax this glass [...]
Markets riled after Saudi Arabia launches airstrikes in Yemen March 26, 2015 Tensions in the Middle East stirred global markets today pushing nervous investors into safe-haven assets. Investors sought safety in gold, pushing bullion prices up to a two-and-a-half week high of $1,219.40 an ounce, on news that Saudi Arabia and its Gulf Arab allies had launched air strikes in the Yemen city of Aden. Meanwhile, the dollar fell [...]
Shell to cut 250 North Sea oil jobs as oil prices plummet March 26, 2015 Oil giant Shell has said it will shed around 300 North Sea oil and gas jobs as part of a cost management drive. "The North Sea has been a challenging operating environment for some time," Paul Goodfellow, Shell's upstream vice president for the UK and Ireland at, said. "Reforms to the fiscal regime announced in the budget [...]
Retail sales rise as shoppers reap “noflation” in February March 26, 2015 Retail sales beat expectations as low prices encouraged people onto high streets across the country in February, figures out today show. Sales on the high street rose 5.7 per cent annually according the Office for National Statistics. It marked the 23rd consecutive month of year-on-year growth, the longest winning-streak since May 2008. Retail sales grew 0.7 [...]
RBS increases the size of its Citizens sale March 26, 2015 RBS has increased the size of the tranche of US bank Citizens Financial it's planning to sell off, as investor demand showed promising signs. That means the UK bank is likely to raise between $3.2bn (£2.1bn) and $3.7bn from the sale of 135m Citizens shares, up from the original plan to sell off 132.25m. Under [...]
Supergroup’s share price surges as new strategy includes an Idris Elba designed fashion range and 2016 dividend March 26, 2015 British fashion retailer Supergroup, the maker of Superdry clothing, is roping in potential future Bond Idris Elba to help grow its business. The star of Luther and The Wire will collaborate on designing a premium fashion range for Supergroup, the retailer has revealed, among a host of plans which sent shares surging six per cent [...]