Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.



BOE keeps rate at 0.5% as oil and wages weigh on inflation

Bank of England officials said low oil prices and subdued wage growth will keep a lid on inflation as they left their key interest rate at a record low. In the minutes of its December meeting, the Monetary Policy Committee weighed “robust growth” in spending against weak overseas demand and expressed concern over the feeble impetus for prices. It said eight of the nine-member panel voted to leave the benchmark rate at 0.5 percent this month, with Ian McCafferty maintaining his call for a 25 basis-point increase. “There would need to be a sustained firming in domestic cost pressures, compared with current rates,” to push inflation back to the 2 percent target, officials said. “The price of oil had fallen markedly again, increasing the likelihood that headline inflation rates would remain subdued, and nominal-wage growth had leveled off.”

Other News

Families paid out less for gas and electricity in 2014 despite rising prices

Households paid out less for gas and electricity last year despite rising prices, while otherwise mainly increasing their spending in a sign of consumer confidence, according to latest figures. Families spent 10p a week less on electricity and 30p less on gas in 2014, even though the price of both increased, mainly because of warmer weather and better home insulation, according to the Family Spending report from the Office for National Statistics. One of the biggest falls in spending over the last 15 years has been on cigarettes, with the average household now spending £3.40 a week - down from £3.50 in 2013 and £4 in 2012 - and only 800 of the 5,130 households in the survey buying any at all.

Other News

Good news for motorists as petrol prices continue to fall

Petrol prices have fallen for a fourth consecutive month, according to new data. The average price of unleaded at the end of October was 107.8p, compared to 109.5p at the start of the month, the RAC Fuel Watch found. This is equivalent to a saving of 90p on the cost of filling up an average 55-litre family car.

Oil & Gas

Saudi Arabia could raise domestic energy prices

Saudi Arabia’s oil minister said the country is looking at raising domestic energy prices. Ali al-Naimi made the announcement in a move which could help reduce a lavish system of subsidies which has been blamed for waste and surging fuel consumption.

Other News

Drop in oil and gas prices leads to hotel revenue fall

Low oil and gas prices steered Aberdeen hotels to double-digit percentage falls in both occupancy and revenue for the second month on the trot, a new report says. And there is uncertainty as to whether hotel prices will be ratcheted up for next month’s Offshore Europe conference, a common practice in the Granite City. Aberdeen hotel rooms generated £52.45 a night on average in May, down an alarming 30% year-on-year, according to accountancy network BDO’s survey of three and four star establishments. Edinburgh, Glasgow and Inverness all experienced strong increases in revenue, though the Scottish capital was the only location to enjoy a rise in occupancy.

Other News

Oil firms accused over petrol rise

Suffering motorists are falling foul of oil company greed as petrol prices start to shoot up again, the AA has said. Service stations were slow to lower prices when world oil prices were falling but have been quick to raise them once the global price started to recover, AA president Edmund King said. Earlier this year it looked as if a litre of petrol could dip below the £1 mark.

Other News

Ofgem ‘must get its act together’

The energy market regulator, Ofgem, has been sharply criticised by MPs for failing to ensure consumers are getting the best value for money. The Commons Energy and Climate Change Committee said new price caps intended to curb the costs of distributing and transmitting gas and electricity were too generous while performance targets were too low. Committee chairman Tim Yeo said a warning by Ofgem chief executive Dermot Nolan that it could be eight years before it was clear whether the new system was delivering value for money was too long for consumers to wait. The so-called “network costs” currently account for around 23% of a dual fuel (gas and electricity) bill.


Oil price plunge is good for us, investment trust boss says

Falling crude prices are a “shot in the arm” for many global economies, an investment trust chief said yesterday. Andrew Bell, chief executive of the Chelmsford-based Witan Investment Trust was among a string of bosses delivering their views on the oil price plunge on behalf of a group representing UK investment trusts responsible for assets worth about £122billion. He said: “The fall in the oil price is a shot in the arm for oil consuming economies, despite the so far rather sulky response of equity markets.


Petrol prices ‘must fall faster’

Petrol firms and supermarkets will be pressed by the Government to pass on the benefit of falling oil prices to customers filling up at the pumps. Treasury Chief Secretary Danny Alexander will demand an assurance from fuel companies and distributors that they are doing all they can to pass on the price cuts to motorists. Mr Alexander will use a speech in Aberdeen to warn people would "rightly be angry" if they felt prices were not coming down as much as they should.