Slowdown in China is the biggest global risk for 2016, according to the Economist Intelligence Unit December 16, 2015 Leading experts have warned that a persistent slowdown in Chinese growth is the biggest threat to the global economic outlook. Analysts at the Economist Intelligence Unit (EU) said in a new report out today that the Chinese economy is facing “formidable challenges”, citing volatility in the domestic equity markets, slipping export figures and lower capital [...]
Technology job market: UK firms more likely to take on an IT contractor than those in the US, although some employers remain reluctant December 16, 2015 The UK seems to have fallen for computer geeks, with 76 per cent of UK businesses making use of IT contractors. According to a survey of executives with hiring and firing responsibilities released today by IT resourcing specialist Experis, a greater proportion UK firms are taking on contractors than in the US (66 per cent), Japan (65 per [...]
Christmas gifts 2015: Sales of BBQS, board games and prosecco gummy bears are on the up at John Lewis, but the halls will be decked in more muted colour themes December 16, 2015 One of our favourite tipples has proven popular in a more unusual format, with sales of prosecco flavoured gummy bears bouncing 106 per cent week-on-week at John Lewis, the retail giant said today. Meanwhile, post-Christmas lunch entertainment might be a low-tech affair, with sales of board games rolling in 183 per cent higher year-on-year. And December this year has [...]
Fed rate hike: What you need to know about ahead of Janet Yellen’s big decision on US interest rates, from why it’s important to when it’s announced December 16, 2015 The world is waiting on tenterhooks for the outcome of the Federal Reserve’s monetary policy meeting, with the US central bank widely expected to announce its first interest rate hike in nearly a decade tonight. Barring “unanticipated shocks”, Fed members are expected to vote to lift rates by quarter to half a percentage point from their current historic low. After [...]
Christmas gifts 2015: Almost half of UK adults have at least one relative living abroad and 16 December is expected to be the day we are most likely to send money overseas December 16, 2015 Business has become more global but it turns out the same is true for family matters. A study out today from the Post Office International Payments has found that 41 per cent of UK adults now have at least one relative living overseas. So, if you've found yourself grappling with last postage dates for overseas for [...]
The Bank of England will look for an all clear from the US Federal Reserve’s interest rate decision December 16, 2015 When the United States Federal Reserve finally raises its benchmark interest rate after seven long years at zero, no central bank will be watching what happens more carefully than the Bank of England (BoE). After all, the cyclical similarities between the UK and US mean markets will be looking to BoE as the next central bank [...]
FTSE posts biggest one-day gain in over two months – London Report December 16, 2015 The top FTSE index rose yesterday after eight straight sessions of falls, with supermarkets, commodity stocks and firms with South African exposure among the companies rebounding from previous falls. The FTSE 100 was up 2.5 per cent at 6,017.79 points at its close, its biggest one-day gain in over two months, having fallen 8.5 per [...]
Banks gain on rate hike hope – New York Report December 15, 2015 Wall Street rose broadly yesterday but ended far off their session highs ahead of today’s expected interest rate hike by the Federal Reserve. The Dow Jones industrial average rose 156.41 points, or 0.9 per cent, to 17,524.91, the S&P 500 gained 21.47 points, or 1.06 per cent, to 2,043.41 and the Nasdaq Composite added 43.13 [...]
London’s Christmas shopping habits revealed: We spend the least, rely on credit and would rather delegate the whole thing to somebody else December 15, 2015 Despite what your bank balance might be leading you to believe, Londoners are not particularly big spenders on Christmas gifts. Figures released by eBay today have revealed that those in the capital spend an average of just £181.22 on presents, compared to £208.94 across the UK as a whole. London shoppers are also unlikely to [...]
Bankers’ bonus rules have led to higher fixed salaries, making losses difficult to absorb in event of a downtown, warns Bank of England December 15, 2015 Regulations surrounding bankers' pay, particularly the EU bonus cap, have led to fixed salaries representing a higher proportion of total pay packets, meaning financial institutions are less capable of reacting to a downturn, the Bank of England has warned today. In its fourth quarterly bulletin for 2015, the Bank of England pointed out that not being able [...]
