Oil prices low, house prices slow and the battle for the Warf

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Oil prices low, house prices slow and the battle for the Warf
28th November 2014

The Evening Standard’s city correspondent Jaime Dunkley talks though the latest news coming out of the City.

Oil prices at a four year low

Oil prices have dropped to $71.53 a barrel, which is a 30 per cent fall since June.
This is partly down to the decision made by oil company Opec, who have said they will not cut off any output, they currently account for a third of global sales.
This is even despite ISIS threatening supplies in the Middle East, and the sourcing of shale gas in the US.
However drivers won’t see a difference in prices at the pumps just yet because of certain tax levies.

 

The Battle For Canary Warf

Qatar have made a £2,2 million bid for the ownership of the City hub, Canary Warf. But, the Canadian owner Songbird says it worth at least 30% more than that offer.
Qatar was rejected for the bid earlier this month, and it now has until next Thursday to make a renewed it with a bigger price.
The Qatari’s already own The Shard, Chelsea Barracks, HSBC’s headquarters and Harrods.

 

House price growth slows

Nationwide have said that house prices have risen  8.5 per cent in the year up till November. This is the smallest increase since December last year.
It is predicted that this is down to a strong labour market, housing demand and low interest rates.

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