UK household saving nears record low, hits lowest point since start of economic downturn July 3, 2015 UK workers are splurging over 95 per cent of what they earn, as household savings fell back to the lowest point since the start of the economic downturn during the first quarter, official figures published today showed. Household savings have been on a downward trend, but hit a low of 4.9 per cent in the [...]
Grexit: Greek Prime Minister Alexis Tsipras tells voters to reject “blackmail and ultimatums” July 3, 2015 Prime Minister Alexis Tsipras has urged Greeks to vote against the terms being offered by its creditors in the referendum this weekend, saying it would be to reject "blackmail and ultimatums". The referendum, which takes place on Sunday, looks to be a close-run thing, with a recent poll suggesting a marginal lead for the [...]
Bank of England to trim protection for deposits as pound stays strong July 3, 2015 Savers will lose out when regulators trim the amount of customers' deposits guaranteed by the UK government, thanks to the pound's appreciation against the euro. The Bank of England's Prudential Regulation Authority (PRA) has said the amount covered by the guarantee schemes will fall by £10,000 to £75,000 from 31 December. A rosier economic picture, as [...]
IoD on Grexit: Three quarters of business leaders think Greece will leave the euro July 3, 2015 Three quarters of business leaders think Greece will leave the euro within the year, a study by the Institute of Directors (IoD) has suggested. Read more: Even pro-Europeans admit the Greek crisis has been disastrous for the EU Of the rest, only two per cent think it's "very unlikely" – suggesting UK businesses are bracing themselves [...]
Uber suspends services in France following authorities’ crackdown on controversial Uber Pop July 3, 2015 Uber has suspended its Uber Pop services in France, a week after French authorities began cracking down on the company's cab service. Thibaud Simphal, head of Uber France, has announced that the controversial service will be suspended starting 8pm tonight, Le Figaro reports. The company says the move was made in a “spirit of appeasement” [...]
UK services sector PMI: Growth smashed expectations in June July 3, 2015 Growth in the UK services sector beat economists' expectations last month, suggesting economic growth will pick up in the second quarter of this year. The widely watched Markit/CIPS UK services PMI came in at 58.5, beating economists' expectations of 57.5, and above May's five-month low of 56.5. It was above the crucial 50 mark which indicates [...]
One chart showing how BP’s share price never recovered from the Deepwater Horizon disaster July 3, 2015 On the evening of 20 April 2010, a release of gasses at BP's Deepwater Horizon oil rig in the Gulf of Mexico caused an explosion which ripped through the rig, killing 11 workers and causing an oil leak which continued for 87 days. By the end of the disaster, 3.2m barrels of oil had leaked [...]
UK universities with the most graduates in employment and/or further study July 3, 2015 We're typically told it's industries such as computing and finance are hungriest for new graduates – but a new study has found the graduates coming out of arts specialist Arts University Bournemouth are the UK's most employable. In fact, no Russell Group university – which represents the 24 leading UK universities including traditionally "red brick" institutions such [...]
RBS share price falls as it could face $13bn penalty over mortgage-backed securities July 3, 2015 Royal Bank of Scotland has been told it could face a $13bn (£8.3bn) bill over its behaviour before the 2008 crisis, causing shares to fall 2.1 per cent in mid-morning trading. The 79 per cent taxpayer-owned bank is involved in a long running case in a Connecticut court over how it packaged mortgage bonds and [...]
BP closes Deepwater Horizon oil spill chapter with £12bn record US payout: Firm may now be subject to mega takeover July 2, 2015 Oil giant BP has settled a massive lawsuit surrounding the 2010 Deepwater Horizon accident, agreeing yesterday to pay up to $18.7bn (£12bn) in respect of US federal, state and local claims connected with the disaster. The payout, believed to be the largest environmental fine ever handed out, comprises $5.5bn in civil payments, $4.9bn in [...]
