It was the first hike of that magnitude since November 1994. At its most recent meeting in June, the Fed enacted a 75 basis points interest rate hike, taking the federal funds rate to a range of 1.5% to 1.75%. US Federal Reserve policymakers reaffirmed their commitment to combating elevated levels of inflation even at the risk of damaging economic growth, according to the central bank's meeting minutes on Wednesday. This means house prices have now risen every month over the last year, and are up by 6.8% or GBP18,849 in cash terms so far in 2022," Halifax Managing Director Russell Galley commented. "The UK housing market defied any expectations of a slowdown, with average property prices up 1.8% in June, the biggest monthly rise since early 2007. House prices have now risen for 12 months on-the-bounce, Halifax noted. Monthly, prices rose 1.8%, hitting GBP294,845, another record high. According to Halifax, UK house prices rose 13% yearly in June, the strongest growth since late 2004, accelerating from an 11% rise in May. UK house price growth accelerated in June, defying expectations that the market will cool as consumers face pressure from rampant inflation, figures. They included Home Secretary Priti Patel, Business Secretary Kwasi Kwarteng, Transport Secretary Grant Shapps, Northern Ireland Secretary Lewis and Welsh Secretary Hart. That was followed by a delegation of Cabinet ministers going to Downing Street to tell Johnson he should stand down after losing the trust of his MPs. Gove is thought to have told the prime minister on Wednesday morning that it is time for him to quit. Johnson met ministers in No 10 on Wednesday, where he was told he has lost the confidence of the Conservative Party and should not continue in office – but refused to listen. He was later hit with the departure of a third Cabinet minister – Welsh Secretary Simon Hart. Johnson rejected calls to quit on Wednesday and dramatically sacked Cabinet rival Michael Gove. Lewis told Boris Johnson the government requires "honesty, integrity and mutual respect" and it is "now past the point of no return", His resignation early on Thursday came just hours after former Johnson ally Suella Braverman, the Attorney General, also publicly urged the prime minister to go. Northern Ireland Secretary Brandon Lewis has resigned from the Cabinet, piling further pressure on the embattled UK prime minister. Thursday's key economic events still to comeġ3:30 CEST EU ECB monetary policy meeting minutesĠ8:15 EDT US ADP National Employment ReportĠ8:30 EDT US international trade in goods & servicesġ1:00 EDT US EIA weekly petroleum status report (changes since previous London equities close) Here is what you need to know at the London market open:ĭJIA: closed up 69.86 points, or 0.2%, at 31,037.68 Shell shares were up 2.1% at 2,013.00 pence early Thursday. This will hand a boost between USD800 million and USD1.20 billion to its Products division, a provider of lubricants, in the second quarter. Shell also said it expects its indicative refining margin to improve to USD28.04 a barrel in the second quarter, from USD10.23 in the first.
#SHINING SAMSUNG DATA RECOVERY UPDATE#
The statement came in a pre-second quarter results update from the oil major. This resulted in a review of Shell's Upstream and Integrated Gas previously impaired assets," the company explained. "In the second quarter 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals.
The price of a barrel of Brent oil has risen nearly 30% since the start of 2022. It expects a Brent price of USD80 per share in 2023, before USD70 in 20. (Alliance News) - Shell on Thursday said it expects to book impairment reversals in the range of USD3.5 billion to USD4.5 billion, due to changes in its commodity price outlook.
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