UK interest rate remains unchanged - Bank of England
Lufthansa industrial action likely after strike talks fail
Interest rates may not rise until 2017
VW UK sales fall 9.8% in October
UK's new car registrations dip for first time in 43 months
Annual UK average house price hits record high of £205,240
Image source, Getty ImagesCredit Agricole has reported, external its highest quarterly net profit in more than four years. The bank says third quarter net profit rose 14.8% to €930m (£657m) - the highest since the first quarter of 2011, helped by a €189m boost from its interest in Eurazeo private equity fund. Income from insurance activities accounted for a third of net earnings.
Image source, Getty ImagesOvernight, Facebook reported a spike in profits in the third quarter on the back of increased advertising sales. The social media giant reported net income was up 11% to $891m (£579m) for the period between July and September compared with $806m last year. Facebook also reported strong user growth in developing markets. Facebook also owns Instagram. Read more on the BBC Business site.
Today Programme
BBC Radio 4
Image source, Getty ImagesIt's Super Thursday everyone. "Super what?" I hear you ask. Y'know the day the Bank of England publishes its latest quarterly inflation report, interest rate policy decision and the minutes of the meeting that led to that interest rate policy decision. I know interest rates haven't moved in nearly seven years but a change is coming... at some point. It just won't be today.
Brenda Kelly of London Capital says markets aren’t expecting “any great moves” in inflation or interest rates but will be looking for “a change in the voting structure” of the Monetary Policy Committee (MPC). Up to now only one member of the MPC, Ian McCafferty, has voted for an interest rate rise. “There’s a possibility that one or maybe two MPC members might vote for a rate rise,” she tells the Today programme.
“You tend to expect the Bank of England will follow the US Federal Reserve within about four to six months,” Brenda Kelly says. So Janet Yellen’s hints at a possible interest rate rise in the US in December may mean the Bank of England takes a more hawkish approach to interest rate policy and its economic outlook here in the UK.
Today Programme
BBC Radio 4
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Image source, Getty Images"The system isn't fit for purpose," says Mike Hawes from auto industry body SMMT, talking about vehicle emissions testing and regulation. He tells Wake Up To Money that since Volkswagen's admissions of further cars being affected by its emissions evading scandal, doubt has spread across a lot of the industry. "It's important to distinguish between the actions of VW and the rest of the industry, but the testing of vehicles, particularly for CO2 emissions, that test dates back to the 1980s." The SMMT has car registration figures out later.
Image source, Getty ImagesToyota has reported , externalnet profit for the six months to the end of September, which has jumped 11% compared with the same period last year, to $10.35bn.