UK public sector borrowing higher than forecasts in June

Vedanta drops 13 percent on 100

European equities markets were significantly lower Thursday on a statement from the US Federal Reserve that said there are “significant downside risks” to the growth of the US economy and after Moody’s Investors Service downgraded the credit ratings of three US-based banks, including Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: [...]

Accountant fails energy bill test

Energy tariffs are so complicated that even an accountant could not calculate how much they should be paying, according to latest research from Which?. The consumer group asked 36 people including a solicitor, an engineer and an accountant, to work out their domestic energy bill using only the information from the supplier’s website, and a [...]

FTSE 100 falls as markets price in Greek debt default

The FTSE 100 has fallen as much as 4.28% already in morning trading, as markets price in a Greek debt default. This comes after the failure of the US Federal reserve to implement any real strategy last night, while announcing serious financial headwinds that could potentially put the world’s largest economy into recession. While financial [...]

Antofagasta leads miners lower

European equities markets were lower Wednesday as yet another round of talks failed to reach a solution for Greece’s debt crisis. The FTSE 100 was down 1.4 percent to 5,288.41 in London, while the FTSE 250 dropped 0.41 percent to 10,266 as miners and the energy sector were lower as prices for base metals and [...]

UK Public Sector Borrowing higher than expected in August

The Office for National Statistics (ONS) has today revealed UK public sector net borrowing rose last month. According to the ONS, public sector net borrowing came in at a higher than expected £15.9 billion in August - a rise of £1.9 billion from a year ago and represented the highest for the month of August [...]

Bank minutes suggest further round of QE

Minutes of the Bank of England’s September 7-8 meeting have been released today and have revealed all nine members of the Monetary Policy Committee (MPC) voted to keep interest rates at the historic low of 0.5%. This was the second consecutive month that the Committee voted unanimously to keep rates at the record low after [...]

Japan’s exports recover in August

Official figures today revealed Japan’s exports rose in August for the first time in six months – suggesting the world’s third largest economy is continuing its recovery from the devastating earthquake and tsunami which struck in March. According to the Ministry of Finance, exports were 2.8% higher last month on an annual basis but this [...]

Miners up, led by Fresnillo

European equities markets were higher Tuesday after Greece characterized talks with the European Union and the International Monetary Fund as “productive” and “substantive”, but only after earlier declines after Standard & Poor’s cut Italy’s credit rating from A+ to A. The FTSE 100 added 1.98 percent to 5,363.71 in London, while the FTSE 250 was [...]

German analyst and investor confidence down in September

The Zew economic sentiment index has revealed German analyst and investor confidence fell to a 2½ year low in September as the ongoing euro zone debt crisis and fears of a global slowdown dampened sentiment. The index, which measures expectations of economic activity over the next six months, fell for the seventh consecutive month to [...]

CML: Mortgage lending higher in August

The Council of Mortgage Lenders (CML), which represents lenders who offer around 94% of all residential mortgage lending in the UK, has today reported UK mortgage lending grew in August. According to the Council, lending was 6% higher in August on a monthly basis, attributed to seasonal factors. The figures come after July saw a [...]