Number of high street shoppers falls by sharpest level in two years May 16, 2016 The number of people visiting the high street dropped by its sharpest amount in over two years last month, as retailers said they faced a combination of bad weather and weak consumer confidence. Footfall at high street stores dropped by 4.7 per cent in April compared to the year before, according to the British Retail Consortium [...]
Your next big payrise isn’t due until 2020 May 16, 2016 Workers banking on a bumper pay boost might find themselves disappointed, as a report out today has found that payrises have ground to an almost halt and could stay that way for the rest of the decade. A survey of more than 1,000 employers by the Chartered Institute of Personnel and Development (CIPD) discovered that pay [...]
Profits at UK firms are at their lowest level since before the financial crisis May 16, 2016 Profits at the UK’s largest companies slumped to their lowest level in a decade in 2015, with turmoil in the banking and commodities industries weighing heavily on corporate performance. New analysis from the Share Centre, released today, shows that the FTSE 350 – the UK’s largest 350 listed companies – posted combined pre-tax profits of £84bn last [...]
Inflation and wages set to falter this week as economy on pause until after EU referendum May 15, 2016 A stuttering labour market and a dip in inflation are set to be revealed later this week, in mounting signs that the UK economy is struggling for momentum. Figures to be released by the Office for National Statistics (ONS) are set to show inflation falling back towards zero, the number of people in work to [...]
Space tourism, driverless cars and drones set for Queen’s Speech lift off May 15, 2016 New plans for driverless cars on Britain's roads are to be announced in the Queen's speech this week, as are proposals for creating an ambitious UK-based space tourism industry by 2018 along with drone-friendly innovations. “Driverless cars and commercial space flight might seem like something science fiction, but the economic potential of the new technology is huge [...]
Mark Carney defends “outspoken” Bank of England Brexit comments as former City minister Andrea Leadsom launches fresh attack May 15, 2016 The Bank of England (BoE) governor Mark Carney has defended the central bank's outspoken comments on the economic risks of Britain leaving Europe. "Absolutely not" responded Carney when asked if the comments overstepped the mark by Andrew Marr on the BBC's Sunday morning show. "The issue is much wider than the issues the Bank of England [...]
The non-Brexit bits from the Bank of England and the International Monetary Fund May 13, 2016 You may have noticed, there have been some pretty stark warnings about what Brexit could do to the UK economy this week. Both the International Monetary Fund (IMF) and the Bank of England waded into the debate arguing that a vote to leave the EU could trigger a recession. Cue outrage from Leave campaigners. But [...]
FTSE 100 narrowly avoids fourth consecutive week of decline May 13, 2016 The FTSE 100 reversed early losses on Friday, but was held back by losses at Inmarsat and Coca Cola HBC. That's not bad for a Friday 13th. The FTSE 100 before today had closed lower on eight out of the past 11 of them. The UK's benchmark index closed at 6,138 points, with Inmarsat one of the largest fallers. While the FTSE [...]
Is the IMF right that a vote to leave the EU would lead to sharp drops in share prices? May 13, 2016 Aengus Collins, country forecast director at the Economist Intelligence Unit, says Yes. Volatility in the UK’s financial markets would unquestionably surge in response to a vote to leave the European Union. Although the medium-term economic impact wouldn’t necessarily be dramatically worse than the baseline, the immediate aftermath of a leave vote would potentially be brutal. The [...]
Lord Lamont hits out at both Mark Carney and Christine Lagarde in just two days May 13, 2016 Lord Lamont has slammed what he sees as the "avalanche of institutional propaganda" which has been flung about in the EU referendum debate this week. In his second blistering attack this week, the former chancellor who served in the governments of Margaret Thatcher and John Major, has taken aim at the International Monetary Fund (IMF) for its [...]
