A glut of oil, the demise of Opec and weakening global demand combined to make 2015 the year of crashing oil prices. The cost of crude fell to levels not seen for 11 years – and the decline may have further to go.
Crude oil prices face further downside risk in the first half of 2016, with OPEC holding on to hopes of pumping the competition out of business, a Citigroup analyst said Wednesday.
A group representing 250 landlords is to launch a court challenge against tax changes to buy to let coming into force in 2017, claiming they have been victimised by the chancellor, George Osborne.
Economic forecasting is a mug’s game. One thing that has been learned from the financial crisis and Great Recession is that even those equipped with the most sophisticated models get it wrong, sometimes spectacularly.
George Osborne has received a second pre-Christmas setback after official figures showing a a stuttering performance by the economy in the months following the general election put the government’s 2015 growth forecast at risk.
Even as the White House has been touting the economic recovery seven years after the 2008 recession, 45% of Americans think that the US economy is “only fair”.
High streets are continuing to suffer as shoppers saved on gifts and splashed their spare cash in restaurants and pubs in the days before Christmas.
George Osborne’s year has ended with a bump. Like a Strictly Come Dancing finalist drunk on high marks for his paso doble and tango, he has come unstuck on the last foxtrot.
The US economy grew at a slightly slower pace than first thought in the third quarter of 2015, continuing a sluggish recovery trend started after the last recession.