Pound jumps as Bank of England’s Ben Broadbent tells City analysts to take the yield curve with a grain of salt November 18, 2015 Investors, analysts and economists are at risk of making big mistakes if they rely on the interest rate on short-term government bonds as an accurate forecast for when Bank of England interest rates will rise, a Bank official has warned – despite the fact the Bank uses it in its own economic predictions. The warning comes after a major shift in [...]
FTSE 100 index lower on airlines as miners’ share prices start to rise November 18, 2015 The FTSE 100 was down in mid-morning trading as International Consolidated Airlines Group (IAG) and Easyjet's share prices weighed on the index. The UK's top blue-chip index was 0.43 per cent down at 6,241 points in mid-morning trade. The FTSE 100 was lower this morning as security scares came back into play, amid fresh terror concerns following the Paris attacks. [...]
Eurozone construction drops in September November 18, 2015 The Eurozone’s construction sector is still struggling to recover after nearly a decade of decline and stagnation. Construction output across the currency-bloc dropped 0.4 per cent in September compared with August, according to figures released this morning by European statistical office Eurostat. While it is up 1.8 per cent on September 2014’s output, it remains around 20 [...]
Average UK weekly earnings: Wages rise for the first time since 2008 as gender pay gap narrows – while Canada remains the UK’s highest-paid local authority November 18, 2015 Average weekly earnings rose to £528 in April 2015, up 1.8 per cent from £518 in 2014 – or 1.9 per cent when adjusted for inflation, the first rise since 2008. The Office for National Statistics' annual hours and earnings survey showed the median salary for full-time employees rose 1.6 per cent to £27,600 in April. But where [...]
UK house prices will continue climbing, but don’t expect rates to be hiked as a result November 18, 2015 The housing market has always been key to the UK economy. People who move house often undertake home improvements, and strong demand (in theory) leads to more houses being built, both of which boost GDP. Given the major impact this can have on future interest rates, the UK housing market has traditionally been crucial for [...]
FTSE 100 investors remain bullish on UK defence – London Report November 18, 2015 News yesterday that UK consumer price inflation remained in negative figures for the second straight month – largely due to falls in food and fuel prices – pushed the FTSE up. The blue-chip index rose by 122.4 points, or 1.99 per cent, to close at 6268.7 pushing up the combined value of UK listed companies by [...]
Energy demand to outpace National Grid supply in 2016 – Centre for Policy Studies November 18, 2015 The closure of energy plants across the country means the UK is on the verge of an energy crisis, according to a report published by the Centre for Policy Studies today. Coal-fired plants due to close in March next year mean that the 54,000 megawatts of forecast demand will not be covered by the National [...]
Bond Street is the world’s fourth-most expensive shopping street, after sites in New York, Hong Kong and Paris November 18, 2015 Bond Street is the world’s fourth-most expensive shopping street, with rents of $1,321 (£868) a year per square foot. The northern blocks of New York’s Fifth Avenue, home to the jewellery store made famous in the film Breakfast at Tiffany’s along with Apple’s glass cube and Saks Fifth Avenue, top the chart with yearly rent of [...]
National Living Wage: More than half of employers to feel rising wages’ impact, causing a third to vow to improve productivity levels November 18, 2015 More than half (54 per cent) of employers predict the introduction of National Living Wage will affect their staffing bill, according to research released today by the Chartered Institute of Personnel and Development (CIPD) and think tank the Resolution Foundation. In the survey of 1,037 employers, nearly one in five (18 per cent) said the [...]
UK businesses are cashing in on the 2016 Olympic Games in Rio de Janeiro with £100m in contracts November 18, 2015 UK companies are set to cash in on the next Olympic Games held in Rio de Janeiro next year. Some 25 British businesses have already benefitted from contracts worth more than £100m for the 2016 Olympics in Brazil, and will be “working closely” with Brazilian companies, according to UK trade and Investment. Government figures suggest the London [...]
