Economic News
Kobe Steel admits fabrication scandal now affects 500 clients
Embattled Japanese steel manufacturer Kobe Steel has admitted its fabrication scandal now affects 500 clients as opposed to the 200 figure divulged on Tuesday, prompting fears about its future if legal claims mounted.
Juncker: EU intervention in Catalonia would cause 'chaos'
European Commission president Jean-Claude Juncker has said any intervention from the EU in the political crisis in Spain would only serve to cause “more chaos”.
US consumer confidence at 2004 highs in October, University of Michigan says
Consumer confidence in the States shot higher at the start of October as more Americans judged that "this is about as good as it gets", the results of a widely-followed survey revealed.
TfL's open data boosts London economy by £130m a year
Transport for London’s provision of free, real-time open data is helping the capital’s economy by up to £130m a year, according to new data released on Friday.
US retail sales jump in September on strong demand for autos
US retail sales soared in September led by a surge in those for motor vehicles and parts.
US consumer price inflation disappoints
US headline inflation increased less than expected last month but core prices jumped well above forecasts, according to data released by the Bureau of Labor Statistics on Friday.
Treasury select committee demands FCA reveal findings of RBS-GRG report
Nicky Morgan, chairperson of the Treasury select committee warned the Financial Conduct Authority (FCA) that it would invoke rarely-used powers to compel the regulator into disclosing the details of its report on the Royal Bank of Scotland's treatment of customers.
Australia boasts one of the most rapidly rising levels of income inequality
The International Monetary Fund (IMF) said on Thursday that Australia had seen some of the highest levels of income inequality growth on the planet since the 1980s, just weeks after Treasurer Scott Morrison denied inequality was worsening across the nation.
City regulator met Saudi Aramco before unveiling new IPO rules
The City's chief watchdog, Andrew Bailey, revealed on Friday that he met with Saudi Aramco early this year to tell the oil giant about plans to change listing rules that could allow it to float in London.
China trade data shows economy still expanding, commodities stocks lifted
China's exports and imports continue to strengthened, trade data showed overnight, giving a boost to commodities stocks around the globe.