Productivity even more puzzling: UK productivity disappoints – workers are doing less with more April 7, 2016 Britain’s productivity plunged 1.2 per cent in the final quarter of 2015, according to fresh data released by the Office for National Statistics (ONS) this morning, adding to concerns about the UK’s so-called “productivity puzzle”. Productivity is a measure of how much economic output is generated for each hour of work and is believed to [...]
US Federal Reserve looks abroad as it finds reasons to hold back on interest rate rises April 6, 2016 A weak global economy and volatility on the financial markets stopped the US Federal Reserve from raising interesting rates for only the second time since the financial crisis last month. Minutes from March’s meeting of the rate-setting Federal Open Market Committee (FOMC), released this evening, showed that even though the US jobs market continued to perform [...]
Empiric Student Property strikes deal with University of Bath April 6, 2016 Empiric Student Property has reached an agreement with the University of Bath to provide its students with housing at three different sites. The listed student digs provider said 354 beds across five properties – including two still under construction – will be let to students at the university from September this year. The buildings comprise of [...]
Proptech: Accelerator Pi Labs moves out of Tech City to partner with housing start-up The Collective April 6, 2016 So much for the benefits of being based in Tech City. Pi Labs, property-focused tech accelerator aimed at helping start-ups become the next big thing, has decided to ditch east London altogether after announcing a deal with property firm The Collective that will take it to Bloomsbury instead. Pi Labs, set up two years ago by Cushman & Wakefield [...]
Oil price yo-yos back up as the latest US stockpiles show a surprise fall April 6, 2016 The oil price has bounced today after stockpiles in the US showed a shock decline, despite investors expecting a new record high. The oil price is up today by around five per cent, with international benchmark Brent crude trading at $39.77, while US oil hit $37.96. The US Energy Information Administration (EIA) reported that stocks of [...]
Drug makers pop after Pfizer deal sinks, taking FTSE 100 up for the day April 6, 2016 A last-hour surge saved the FTSE 100 from another unspectacular day, as the afternoon rally helped the blue chip index climb up 1.2 per cent to close the day on 6,161, and a surprise fall in US oil stocks put some energy into oil prices which also gained handsomely. It wasn’t quite a green sweep [...]
Startups founded during the recession could be the reason why Britain lags on productivity April 6, 2016 Britain’s startups could be the missing piece of the “productivity puzzle” which has had economists and policymakers scratching their heads in recent years, according to new research by the innovation body Nesta. Working with number crunchers at the National Institute of Economic and Social Research (NIESR), Nesta found that new firms – those founded since the recession [...]
Premier Foods to meet with shareholders after holding “constructive talks” McCormick April 6, 2016 Premier Foods said it is to meet with shareholders this week after holding "constructive talks" with McCormick, as the Mr Kipling cakes owner seeks to convince its American suitor to sweeten its offer. The company, which has so far rebuffed three bid approaches from McCormick, has released a presentation ahead of its meeting with institutional [...]
Housing associations in £30bn mega-merger talks to build 100,000 London homes April 6, 2016 Three of the UK’s biggest housing associations are in talks to merger, with the view to build 100,000 new homes across London and the south east over the next decade. L&Q, The Hyde Group and East Thames said the proposed move will turn them into one of the country’s top four largest housebuilders with a [...]
IMF says lower taxes, more training and welfare cuts can kick-start global economic growth April 6, 2016 Countries around the world should slash taxes on employment and reform welfare to boost their economies, according to the International Monetary Fund (IMF). Ahead of its half-yearly and closely-watched world economic outlook, the IMF raised concerns about “the current environment of persistent weak economic activity in many advanced economies”, outlining its suggestions for increasing economic output and employment. Key [...]
