Tax advice can cost businesses £1000 an hour due to the UK’s overly complex system March 7, 2016 Top UK tax advisers are charging up to £1,000 an hour due to Britain’s overly complicated tax system. Research published today by the Centre for Policy Studies (CPS) said the UK had one of the most complicated tax systems in the world. UK tax advisory services are now one of the most expensive in the [...]
Don’t get your hopes up – weak productivity will weigh on pay packets, according to BDO March 7, 2016 Low productivity growth in the UK is throttling wage growth, a financial services firm has warned. UK economic growth improved in February while hiring also picked up, according to new figures released this morning. The employment index published by accountants BDO hit of a score of 105.1 in February from 104.9, moving further above its long-term average [...]
Oil eyes yearly price highs despite US stockpiles rising, and denials Opec will cut production March 6, 2016 The price of oil is set to record fresh highs for 2016 this week, despite comments from the Saudi Arabian oil minister that the de facto Organization of the Petroleum Exporting Countries (Opec) leader will not cut its production and stubbornly high reserves of oil in the US. Saudi Arabia will maintain its oil market [...]
Economists at the Bank for International Settlements warn negative interest rates come with risks March 6, 2016 The experimental policy of negative interest rates has come under fire from a top financial watchdog. Economists at the Swiss-based Bank for International Settlements (BIS), often referred to as the central bank of central banks, said: “There is great uncertainty about the behaviour of individuals and institutions if rates were to decline further into negative territory [...]
Chinese economy: China will “absolutely not experience a hard landing” says chief economic planner Xu Shaoshi March 6, 2016 Despite lingering concerns of a slowdown in the Chinese economy, China’s chief economic planner has said it will "absolutely not experience a hard landing". Growth forecasts for the Chinese economy have been cut, but any predictions of a hard landing are "destined to become nothing", Xu Shaoshi, head of China’s state planning agency, has said. [...]
EU referendum: British Chambers of Commerce boss John Longworth suspended over Brexit support March 5, 2016 The British Chambers of Commerce (BCC) have temporarily suspended director general John Longworth for expressing support for a Brexit. Longworth was suspended following an emergency board meeting on Friday night, reports the Financial Times, following remarks which do not reflect wider feeling amongst many of the BCC's members. On Thursday Longworth became one of the first major [...]
UCAS forms at the ready: Manchester Metropolitan University is offering students the chance to get paid while studying, and Pinsent Masons is just one of the companies paying students to study March 4, 2016 With competition for entry-level jobs scarily high, choosing whether to plump for a university degree or some extra years of work experience can be a daunting decision. However, some employers and educational establishments are looking at ways to offer bright young things the best of both worlds. In just under a fortnight's time, Manchester Metropolitan University [...]
Brent crude and WTI: Oil prices stay higher after US jobs report March 4, 2016 Oil prices rose today, as strong US employment data fed into optimism that the market may have finally bottomed out. Brent crude, the global benchmark, rose 1.4 per cent to $37.59 per barrel this morning, putting it on course to end the week with a gain of more than five per cent. Meanwhile, West Texas Intermediate crude, [...]
US non-farm payrolls smash it again – but wages fall March 4, 2016 US job openings leaped again in February, way above analyst expectations. Official figures from the US' statistics bureau showed openings rose to 242,000, against expectations of 195,000. That left unemployment at 4.9 per cent, a post-recession low. However, average hourly earnings fell by 0.1 per cent during the month, from a 0.2 per cent rise the month before. “Fed [...]
Customers with the Big Six energy companies could be missing out on as much as £400 a year on their energy bills, despite announced price cuts March 4, 2016 The energy market is still failing to provide consumers with the best possible prices, research released today by consumer interest company Which? has found. The study found that customers of the so-called Big Six energy companies – British Gas, EDF Energy, npower, E.on, Scottish Power and SSE – could save up to £400 a year if they [...]
