Mark Carney says UK recovery is not fuelled by debt January 12, 2016 Bank of England chief Mark Carney has played down fears that the UK's economic recovery has been based on an unsustainable credit boom. Speaking at at farewell symposium for Christian Noyer, the Bank of France's governor, Carney said "this is not a debt-fuelled recovery". He pointed out that private sector debt to GDP had fallen [...]
Bloopers, jargon and cliches: The grammar and language errors businesses should avoid January 12, 2016 When you proofread for a living, as I do, you notice linguistic and grammatical faux pas instinctively. However, we are all influenced by the language in our lives more than we think. From fellow commuters on the train reading a newspaper, book, or smartphone, to you sitting at your desk reading emails, language is all [...]
Architect Sir Terry Farrell and Labour councillors hit out at plans for Irvine Sellar’s Paddington Shard January 12, 2016 Farrell called it "too piecemeal and too optimistic" (Source: Sellar Property Group) A storm is brewing over Irvine Sellar’s plans to build a so-called second Shard in Paddington. Westminster Labour councillors have urged the council to reject the planning application submitted in November, saying the that proposals have been “rushed” and miss out crucial information such [...]
Direct Line Insurance Group share price rises as it reveals its estimated costs of the storms of up to £140m, while PwC predicts a mixed bag for premiums this year January 12, 2016 Direct Line Insurance Group today revealed that it estimated that this winter’s floods would cost it between £110m and £140m in claims across both its home and commercial divisions. The company stressed that these figures were estimates only and that an actual amount for insured losses could not be given with certainty for some while. After [...]
Niesr: UK economy expanded 2.2 per cent in 2015 January 12, 2016 The UK economy grew by 2.2 per cent last year, according to an early estimate from the National Institute of Economic and Social Research (Niesr), a think tank. While the growth rate would be slower than 2014's 2.9 per cent expansion, Niesr said it "remains consistent with the economy growing at close to its long-run potential [...]
Oil price: Nigeria and UAE clash over emergency Opec meeting in February/March as Brent and WTI crude continue to fall January 12, 2016 Two members of the Organization of Petroleum Exporting Countries (Opec) have clashed over whether the oil cartel will hold an emergency meeting before its next scheduled session in June, as oil prices continue to plump new lows. Opec members have been hurt by the collapse in global oil prices, with Brent falling below $32 a barrel [...]
Don’t leave your tax return until the last minute, warns Institute of Chartered Accountants in England and Wales, as deadline date for online filing falls on a Sunday this year January 12, 2016 The Institute of Chartered Accountants in England and Wales (ICAEW) has today urged people not to leave filing their tax return to the last second. The representative body for accountants warned that 31st January – the deadline date for filing a self-assessment tax return online – and 30th January were the busiest days for filing [...]
Deutsche Bank buys new FCA headquarters at Stratford’s International Quarter for £370m January 12, 2016 Deutsche Bank has snapped up an office development in Stratford that will house the new Financial Conduct Authority (FCA) headquarters, in a £370m deal. The German bank's asset management arm has agreed to forward fund the 515,000 sq ft building, which forms part of a major £2.3bn development next to the Queen Elizabeth Olympic Park known as the International Quarter. The [...]
Vodafone has won a £75m contract with Scottish Power Energy Networks January 12, 2016 Vodafone has won a £75m contract with Scottish Power Energy Networks to help the utility firm monitor its network delivering electricity to over 3.5m UK homes and businesses. The four-year contract announced today will require Vodafone to run performance monitoring and fault identification systems for over 110,000 kilometres of Scottish Power’s lines and cables. The [...]
Number of businesses showing signs of distress plummets with healthier-looking profits and sales January 12, 2016 The number of businesses showing signs of distress has fallen to its lowest level since March 2012. Research released today by R3, a trade body for insolvency professionals, discovered that only 17 per cent of businesses report experiencing a key indicator of distress, such as a decrease in profits or having to make redundancies. “This [...]
