Standard & Poor’s warns slow growth in China may have strong knock-on effect on Europe October 6, 2015 Economists at credit rating agency Standard & Poor’s have warned that slowing growth in China would have strong knock-on effects for the Eurozone and some of Europe’s largest economies. S&P ran a simulation to assess the effects of China’s real growth slowing to 4.4. per cent next year and 3.9 per cent in 2017, instead of [...]
British manufacturing slowed in third quarter as export growth drops to six year low – BCC October 6, 2015 British manufacturing data fell further in the third quarter, according to a new report from the British Chambers of Commerce (BCC). The BCC’s quarterly economic survey, based on nearly 7,500 responses from firms across various sectors, found that nearly all of the key national manufacturing balances remained stagnant or fell in the three months to [...]
FCA: Banks will need to appoint a whistleblowing champion from next year October 6, 2015 City financial firms will now be required have a whistleblowing champion to present an annual whistle blowing report, according new rules published today by the UK’s financial watchdog. The new whistleblowing champions, who must be a senior manager, will be responsible for internal whistleblowing arrangements and must be able to handle all types of disclosure from [...]
US multinationals are keeping $2.1 trillion in tax havens, says new report October 6, 2015 US multinational companies are holding over $2.1 trillion (£1.4 trillion) in accumulated profits in tax havens, two left-wing think tanks said today. The report, by the Citizens for Tax Justice and US Public Interest Research Group Education Fund, accuses the companies of ripping off the US Treasury and operating in a way that puts them at an [...]
Air France jobs cuts: Workers chase and rip shirts from executives after airline announces 2900 job losses October 6, 2015 Air France managers were forced to flee a meeting yesterday about mass job cuts after angry staff waving banners and flags stormed the room. The airline’s human resources and labour relations chief Xavier Broseta had his shirt ripped off and his tie hanging from his neck as he battled through crowds of workers, some of [...]
FTSE 100 climbs as Glencore digs itself out of hole – London Report October 6, 2015 Britain’s top share index rose nearly three per cent yesterday, with a surge in Glencore after a volatile week leading mining companies higher. The blue-chip FTSE 100 index jumped 168.94 points, or 2.8 per cent, to 6,298.92 points, with every stock in positive territory. The FTSE 100 is still down over 11 per cent from [...]
Lloyds privatisation: 62,500 register for Lloyds shares on first day October 6, 2015 It turns out George Osborne's announcement yesterday that the government will make "at least" £2bn of Lloyds shares available sent retail investors into a frenzy: 62,500 have registered their intention to buy shares in the bank, Treasury sources have suggested. In contrast to the Royal Mail privatisation in 2013, where institutional investors were prioritised, yesterday the chancellor [...]
Bank of England September minutes and interest rate decision: Five things to look for October 6, 2015 The Bank of England's (BoE) last minutes and quarterly inflation report struck a decidedly dovish tone. However a lot has happened since then. Consequently investors will be eager to see if recent developments have pushed back expectations for an interest rate rise over at the Old Lady. Will the hawk still squark? With the BoE [...]
Greek debt crisis: The economy won’t start growing until 2017 October 5, 2015 The Greek government unveiled a dismal 2016 budget today. The The draft budget forecasts that the country's economy will shrink by 2.3 per cent this year, staying in recession in 2016 with a 1.3 per cent contraction, before returning to growth in 2017. It was released as Prime Minister Alexis Tsipras delivered his keynote four-year policy programme to [...]
LinkedIn owes users $13m for sending too many annoying emails October 5, 2015 “Hi, I’d like to add you to my professional network on LinkedIn.” If you’ve ever signed up for LinkedIn, chances are you are more than familiar with the never-ending stream of emails coming from contacts. So many, in fact, and so annoying, that a US judge has ruled that LinkedIn must pay out compensation to [...]
