Accountants say the government needs to play the numbers game to solve the productivity puzzle May 5, 2016 The government should set itself a “productivity target” to boost UK growth and hold itself accountable for the performance of the economy, the Institute of Chartered Accountants in England and Wales (ICAEW) has argued. In the latest report into the productivity puzzle, the number crunchers said the government should be aiming to boost productivity by [...]
EU referendum: Survey shows that firms will stop hiring because of vote, but only if the UK votes for Brexit May 5, 2016 Employers say that jobs will be at risk if Britain votes to leave the European Union, but few are actually cutting back on hiring in the run-up to the vote, according to a new survey by recruitment firm Reed. A clear majority – 85 per cent – of businesses said that the EU referendum had [...]
Inmarsat share price tumbles after profits plummet and revenue guidance revised down May 5, 2016 Inmarsat reported that its profits had plummeted in its quarterly results today, and it wasn't much longer before its share price followed. The satellite and communication services company revealed that its profits before tax had fallen to $58.5m (£40.3m) for the three months ended March 2016, compared with $96.3m the year before. Shares in the [...]
Standard and Poor’s says the UK’s ageing population could result in a massive increase in UK debt May 5, 2016 Ageing populations will cause debt levels in advanced economies to reach potentially unsustainable levels over the next three decades, Standard and Poor’s (S&P) has warned today. The ratings agency said that without policies which address high – and increasing – levels of public spending that are going towards supporting older populations, credit ratings would be cut, causing [...]
Services PMI comes in at three-year low in April – rounding off hat-trick of weak economic data May 5, 2016 The UK economy could be growing at its slowest pace in three years, according to purchasing managers' index (PMI) data out this week, which has raised serious concerns about the security of the economic recovery. Today it was the turn of services – which makes up four-fifths of the UK economy – to show signs [...]
The European Central Bank thinks it still has some bullets left May 5, 2016 The European Central Bank (ECB) has insisted – again – that it stands ready to do whatever it takes to make sure the Eurozone does not slip into a Japan-style spiral of deflation. In its monthly economic bulletin published this morning, the ECB said that its extraordinary monetary policy measures – negative interest rates and [...]
Sweet: Hotel Chocolat just priced its IPO May 5, 2016 It's a sweet day if you're into equities, for Hotel Chocolat – the upmarket confectioner whose offerings include a £100 box of chocolates – has unveiled the pricing of its IPO. The retailer, which announced its plans to float on Aim back in March, said today it expects to be valued at £167m once it lists – [...]
Rising residential rents ease fears of a slowdown after buy-to-let buying frenzy May 5, 2016 Rental prices rose in all but one region of the UK over three months to April, new figures show, despite concerns about the impact of higher stamp duty charges. Insurer HomeLet's latest rental index reveals that rents outside of London were, on average, 5.1 per cent higher over the three months to April than in the same period of last year. That compares [...]
Crude oil surge pushes up the price of petrol at the pumps May 5, 2016 Motorists have suffered the second consecutive month of price rises at the pumps as a result of the rebound in the oil price. A 25 per cent increase in the cost of a barrel of oil from $36.51 to $45.49 has sparked the highest price since 10 November 2015, motoring group RAC data for April shows. [...]
Shopping centre giant Intu on track to post rise in full-year rents as shoppers keep tills ringing May 4, 2016 Intu, the shopping centre giant, said it is on track to post a jump in rental income this year as consumers continued to flock through its doors. The FTSE 100 retail landlord, which owns more than 15 major shopping centres including Intu Lakeside, Merry Hill and Braehead, said footfall rose by 1.4 per cent in the year [...]
