Economics & Markets

The first criminal trial to result from the investigation into the LIBOR fixing scandal has begun today, with former UBS and Citigroup trader Tom Hayes accused of 8 counts of conspiracy between 2006-2010. Prosecutor Mukul Chawla described Mr Hayes as “the ringmaster at the very centre, telling others around him what to do and in…

The nonsense peddled by much of the left-wing press (not to mention some in the Conservative Party who ought to know better) regarding poverty has long been a bugbear of mine. Accustomed to unprecedented levels of wealth and prosperity, our concept of poverty has become so warped of late that we regard people unable to…

UK Government borrowing dropped to £6.8 billion in April, down from £9.3 billion in the same month of 2014 and the lowest April figure since 2008. The Office for National Statistics revised its full year estimates upwards to £87.7 billion, which remains below the government’s target of £90.3 billion. However, this target may be further…

The Office for National Statistics has released data for April showing that retail sales were 4.7% higher than a year ago and up by 1.2% from the prior month, with growth driven by an exceptional performance in the clothing sector. The supermarket price war continues to apply downward pressure and the cost of fuel also…

The Confederation of British Industry has said that businesses should step in to the debate on EU membership early and stated that remaining in the organisation was in the country’s best interests. The remarks were made by the CBI’s President Sir Mike Rake ahead of the organisation’s annual dinner. Sir Mike told the BBC that…

The Office for National Statistics has announced that annual UK CPI inflation dropped to -0.1% in April from 0% in February and March. This is the first negative reading since the introduction of the CPI measure in 1996. Economists predicted that deflation would be short-lived and had come about due to a confluence of falling…

A Greek Newspaper has claimed that a deal has been proposed by European Commission President Juncker that would break the deadlock in negotiations. The commission refused to confirm the existence of any such arrangement but it is said to include more lenient budget surplus targets and allow VAT increases and a review of the country’s…

The Office for National Statistics said that the construction sector grew by 1.6% in March relative to the same month last year and output was 3.9% higher than in February. Private sector housing returned to growth after 5 consecutive months of contraction. Gareth Hird from consultantcy McBains Cooper commented, “today’s figures represent encouraging news. However,…

It would appear that the past few weeks have taught us many things in the worlds of politics and finance. One of the these is that the “chillax” approach to Government employed by David Cameron was enough to not only keep him in power, but actually to increase the margin of victory. Indeed, it seems…