Britain’s recovery is expected to start running out of steam next year as the next government squeezes public spending and the hoped-for boost to exports fails to materialise, according to the Treasury’s independent forecaster.
The Organization of Petroleum Exporting Countries (Opec), the largest crude-oil cartel in the world, wanted others to feel its pain as oil prices collapsed.
Many of the large oil-producing nations such as Saudi Arabia, Kuwait and Venezuela have squandered their chance to build strong and sustainable economies on the proceeds of high oil prices, a leading energy analyst has warned.
The UK’s first interest rate rise will come no earlier than July next year but probably by the end of September, according to economists polled by Reuters.
Jean-Claude Juncker, the newly installed head of the European Union, has unveiled a 315 billion euro ($392 billion) investment package to help kick start Europe's flagging economy, create a million jobs, and help growth and competitiveness.
Britain’s recovery remained on track in the third quarter but fresh figures revealed growth was heavily reliant on the consumer, leaving the government’s much hoped-for rebalancing of the economy elusive.
Britain’s economic recovery will continue into 2015 and 2016, driven by consumer spending and business investment, according to the Organisation of Economic Co-operation and Development.
Worldwide business confidence slumped to a five-year low, with company hiring and investment intentions at or near their weakest levels in the post-global financial crisis era, according to a new survey.
The European Central Bank might like to update its website – specifically, its educational video to teach teenagers about the importance of keeping prices in check.
A weaker outlook for the global economy is hitting UK exports and slowing the recovery in Britain’s manufacturing sector, the CBI has warned.