Crash was economists’ ‘Michael Fish’ moment, says Andy Haldane

The failure to predict the financial crisis was a “Michael Fish” moment for economists, the Bank of England’s chief economist has said. Andy Haldane compared financial forecasts to the famously inaccurate forecast by the BBC weatherman, ahead of the UK’s great storm of 1987. He said the profession was “to some degree in More...

by subhadip | Published 2 months ago
By subhadip On Monday, January 9th, 2017
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House price inflation picks up with Luton the 2016 hotspot, Halifax says

A town best known for its airport, Vauxhall vans, and as the home of Bake Off winner Nadiya Hussain, was the UK’s property hotspot last year, according to the UK’s largest mortgage lender. Luton saw More...

By subhadip On Monday, January 9th, 2017
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Aldi reports record Christmas sales

Discount supermarket Aldi has reported record Christmas trading after a 15% rise in December sales. The firm said there was strong demand for its premium product range, launched to compete with higher-end retailers More...

By subhadip On Monday, January 9th, 2017
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Pound falls on May’s Brexit comments

The value of the pound has fallen to a two-month low against major currencies after Prime Minister Theresa May signalled the UK would pursue a so-called “hard Brexit” from the EU. Sterling fell about More...

By subhadip On Thursday, January 5th, 2017
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Fuel prices hit 18-month high, after Opec production cuts

The price of petrol and diesel in the UK has risen to its highest since July 2015, following a three-pence-a-litre increase in December alone. The average cost of unleaded petrol hit 117.23p at the end of the month, More...

By subhadip On Thursday, January 5th, 2017
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UK service sector sees strong expansion in December

The UK service sector grew at its fastest pace for 17 months in December, a closely watched survey has indicated. The Markit/CIPS services purchasing managers’ index (PMI) rose to 56.2 last month, from 55.2 More...

By subhadip On Monday, December 12th, 2016
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Trump’s tweet about Lockheed-Martin cuts $4bn in value as share prices fall

Donald Trump scolded military jet manufacturer Lockheed Martin on for “out of control” costs on Monday, sending the defence contractor’s stock plummeting. “Billions of dollars can and will be saved on military More...

By subhadip On Monday, December 12th, 2016
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IMF chief Christine Lagarde in negligence trial in France

IMF chief Christine Lagarde has gone on trial in France for negligence over a compensation payment made by a state-owned bank to a businessman in 2008. As finance minister of then-President Nicolas Sarkozy, she More...

By subhadip On Monday, December 12th, 2016
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Oil prices jump on new output deal

Oil prices have surged after oil producing countries that are not Opec members agreed to cut output. Brent crude jumped to $57.89 a barrel – the highest since July 2015 – before falling back to $56.55, More...

By subhadip On Monday, December 5th, 2016
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New car sales on course for record year after November rise

British new car registrations rose by nearly 3 percent last month, an industry body said on Monday, putting the sector on course for record sales in 2016, although demand from retail customers fell for the eighth More...