Greece referendum: Greek banks prepare to trim clients’ savings as fears circulate ATMs could run out of cash next week July 4, 2015 Greece’s banks are preparing the ground for a haircut of deposits over €8,000 in a raid to prevent collapse. According to the Financial Times, sources in the sector said the trimming would be at a rate of “at least 30 per cent” of all deposits above the €8,000 mark, and that such a scenario was [...]
Greek court rejects referendum appeal July 3, 2015 A court in Greece has rejected an appeal against the referendum on whether or not to accept creditors' bailout conditions, due to be held on Sunday. Two Greeks citizens appealed against the referendum, saying the country's constitution prevents votes on fiscal issues. Critics have also complained that with capital controls in place, many inhabitants of [...]
Greek referendum: European markets dip as court prepares to rule on referendum July 3, 2015 European markets closed down today as Greek court prepared to rule on the legality of Sunday's referendum on creditors' bailout conditions. Read more: Even pro-Europeans admit the Greek crisis has been disastrous for the EU The FTSE 100 closed down 0.67 per cent, while Germany's Dax closed down 0.37 per cent and France's Cac was 0.57 [...]
UK household saving nears record low, hits lowest point since start of economic downturn July 3, 2015 UK workers are splurging over 95 per cent of what they earn, as household savings fell back to the lowest point since the start of the economic downturn during the first quarter, official figures published today showed. Household savings have been on a downward trend, but hit a low of 4.9 per cent in the [...]
Grexit: Greek Prime Minister Alexis Tsipras tells voters to reject “blackmail and ultimatums” July 3, 2015 Prime Minister Alexis Tsipras has urged Greeks to vote against the terms being offered by its creditors in the referendum this weekend, saying it would be to reject "blackmail and ultimatums". The referendum, which takes place on Sunday, looks to be a close-run thing, with a recent poll suggesting a marginal lead for the [...]
Bank of England to trim protection for deposits as pound stays strong July 3, 2015 Savers will lose out when regulators trim the amount of customers' deposits guaranteed by the UK government, thanks to the pound's appreciation against the euro. The Bank of England's Prudential Regulation Authority (PRA) has said the amount covered by the guarantee schemes will fall by £10,000 to £75,000 from 31 December. A rosier economic picture, as [...]
IoD on Grexit: Three quarters of business leaders think Greece will leave the euro July 3, 2015 Three quarters of business leaders think Greece will leave the euro within the year, a study by the Institute of Directors (IoD) has suggested. Read more: Even pro-Europeans admit the Greek crisis has been disastrous for the EU Of the rest, only two per cent think it's "very unlikely" – suggesting UK businesses are bracing themselves [...]
UK services sector PMI: Growth smashed expectations in June July 3, 2015 Growth in the UK services sector beat economists' expectations last month, suggesting economic growth will pick up in the second quarter of this year. The widely watched Markit/CIPS UK services PMI came in at 58.5, beating economists' expectations of 57.5, and above May's five-month low of 56.5. It was above the crucial 50 mark which indicates [...]
UK universities with the most graduates in employment and/or further study July 3, 2015 We're typically told it's industries such as computing and finance are hungriest for new graduates – but a new study has found the graduates coming out of arts specialist Arts University Bournemouth are the UK's most employable. In fact, no Russell Group university – which represents the 24 leading UK universities including traditionally "red brick" institutions such [...]
Fellow watchdog to slam Ofgem over tariffs policy July 2, 2015 The Competition and Markets Authority (CMA) is expected to slam Ofgem’s policy on electricity tariffs when it publishes the preliminary findings from its energy market review next week. The report, which is likely to be released on 7 July, will highlight the “four tariffs” rule that Ofgem imposes on energy firms as being bad for [...]
