US manufacturing contracts for the first time since 2012 – has it just scuppered Janet Yellen’s plans for an interest rate hike? December 1, 2015 Unnerving times for Fed-watchers, after figures published today showed US manufacturing contracted in November for the first time since 2012. The Institute for Supply Management's New Orders Index registered a score of 48.9 per cent in November, four percentage points lower than November's 52.9 per cent – and its weakest since June 2009. For those nervously [...]
FTSE 100 set to drop five per cent over the year on mining, oil and banking stocks December 24, 2015 The FTSE 100 is set to end the year lower than it started thanks to disappointing performances in the mining, oil and gas and banking sectors – after it reached highs in excess of the 7,000-point mark in March, April and May. The index hovered around 6,250 points in early trading, up 0.1 per cent, [...]
With calls to tackle “unfair dumping” should more be done to block cheap Chinese steel imports? November 9, 2015 Mathew Lawrence, a research fellow at IPPR, says Yes Yes, if proportionate action can be taken at an international scale that doesn’t tip into tit-for-tat protectionism. It clearly can be done: the US has introduced 43 anti-dumping tariffs in the last seven years. This isn’t about anti-Chinese action, though; their steel sector is also under [...]
Barratt share price jumps as housebuilder posts “excellent” first half January 13, 2016 Another day, another housebuilder smugly proving the property sector is where it's at these days. But one analyst was still cautious… The figures The company said it completed 7,626 homes in the six months to the end of December, 9.4 per cent more than last year. The company was receiving 0.66 net private reservations per active site each week – up from [...]
The UK is fantastic at starting business, but notoriously bad at growing them: We need sharing data to turn startups into the next Facebook December 17, 2015 The UK has the potential to lead the digital revolution – boosting productivity and our economic power in the process. Some 15 per cent of the nearly 600,000 businesses registered with Companies House in 2014 were digital. By 2030, the UK is set to employ 7.1m people in science-based roles and the digital sector already [...]
As challenger banks, fintech and digital payments take off, here are four reasons why 2016 will be the year banks are on the run January 20, 2016 Until recently, managing your money meant dealing with a bank. For both businesses and individuals they were pretty much the only game in town. But that’s no longer the case. Thanks to digital challengers, tech startups and the ongoing fallout from the financial crisis, banks face huge competition in all areas of their business. Each [...]
House prices in City fringe areas of Shoreditch, Clerkenwell and Hoxton have surged by 62 per cent since 2008 December 7, 2015 House prices in London’s City fringe have surged since the crisis to outperform the wider London market, new research shows, thanks to the booming popularity of areas such as Shoreditch, Clerkenwell and Wapping to live as well as work. According to property advisory firm CBRE, average residential property prices in the City fringe have soared [...]
Texas Instruments is to close its factory in Greenock, Scotland resulting in nearly 400 job losses January 27, 2016 Texas Instruments (TI), the Nasdaq-listed electronic parts manufacturer has announced it is closing its factory in Greenock, Scotland, which could result in the loss of around 400 jobs. TI said it would be closing the factory in the Inverclyde area over the next three years, and moving its operations to "more cost-effective" 200-millimetre factories in Germany, Japan and [...]
RBS, Nationwide, HSBC, Barclays, Standard Chartered and HSBC share prices rise after Bank of England stress tests December 1, 2015 Shares in British lenders rose today, after results of a Bank of England stress test showed all the banks it tested had passed. Shares in Lloyds rose 2.8 per cent to 75.01p in early trading, while HSBC rose 1.4 per cent to 537.2p and Barclays rose 2.5 per cent to 228.75p. RBS and Standard Chartered, [...]
These UK companies are creating technologies to make ageing more pleasant November 11, 2015 A handful of companies in London and the South East have been awarded backing to turn their healthcare inventions into reality. As part of the first ever MedTechSouthEast competition, 10 firms have been selected for their innovative designs to help elderly people stay independent for longer – a crucial development in an ageing society. The [...]