Andy Burnham says Labour will spend £2.5bn a year to add 32,000 staff to the NHS January 4, 2015 Labour is evoking the spirit of Blair’s 1997 victory by attacking the Conservatives on the NHS. The shadow health secretary Andy Burnham has said if Labour is elected in May, it will invest £2.5bn a year in an NHS “time to care” fund, which will pay for 20,000 more nurses, 8,000 more GPs and an [...]
Retired workers should be allowed to sell their pensions to the highest bidder, says minister Steve Webb January 4, 2015 Retirees may soon get the right to sell off their savings for a lump sum, according to pensions minister Steve Webb. Liberal Democrat Webb said that he wanted to go further than the reforms outlined by George Osborne at the last budget, which, from this April, allow workers to trade their pension savings for [...]
22-year-old Skiplagged.com founder raises $50,000 to defend himself against United Airlines and Orbitz January 2, 2015 The 22-year-old founder of Skiplagged has raised more than $50,000 (£32,000) to defend himself in a lawsuit by US airlines United and Orbitz. Aktarer Zarman's site allows passengers to find the cheapest possible fare through so-called "hidden city" ticketing. Essentially, it takes advantage of the fact that it can be cheaper to buy a one-way [...]
What will happen to the world in 2015? Here are eight great changes that will take place this year January 2, 2015 The last 12 months have left behind a big pile of problems for the world to deal with in 2015. The militant group Islamic State has taken over large swathes of the Middle East and now poses a greater threat to the West than any power since the Soviet Union, while the deadly Ebola virus [...]
Top Goldman Sachs bankers are the best paid in the UK, earning £3m January 2, 2015 It's official: Goldman Sachs workers were the best paid bankers in the UK in 2013, according to analysis by the Financial Times. Goldman paid its top 121 UK-based employees £3m a piece on average, of which 85 per cent came in the form of bonuses. The 121 are so-called “code” employees, meaning their earnings [...]
Petrol to fall below £1 a litre? Brent crude oil price falls to its lowest in more than five years January 2, 2015 Brent crude oil dipped as low as $55.48 a barrel this morning, its lowest in five and a half years. The price fall came off the back of weak manufacturing data from China and Europe, as well as a stronger dollar. The drop comes after oil prices lost 49 per cent during 2014, its second-biggest [...]
Transport minister Patrick McLoughlin defends 2.2pc rail fare increase January 2, 2015 The government has defended today's 2.2 per cent increase in rail fares, arguing it's a vital step to maintaining world-class infrastructure. The transport secretary Patrick McLoughlin said the rise was critical for new investment to maintain the network and ensure safety standards. He argued that if people wanted to use trains they would have to [...]
Doveish Mario Draghi sends Euro tumbling to lowest level since 2010, as dollar rises January 2, 2015 The dollar index rose 0.6 per cent to 90.84 this morning, its highest level since 2006. The index, which measures how the dollar is performing against its trading partners, was nudged up as comments from European Central Bank (ECB) president Mario Draghi pushed the euro to a four-year low. Draghi hinted this morning [...]
Black Friday hits John Lewis’ Christmas sales January 2, 2015 He may have been a runaway hit, but not even Monty the Penguin could help John Lewis emulate the success of its Black Friday deals during the Christmas period. Sales at the retailer fell 1.4 per cent during the week of Christmas, with sales of electrical goods falling 14.7 per cent compared with the same [...]
Eurozone manufacturing growth up slightly, but Italy hits 19-month low as France struggles January 2, 2015 After Draghi was doveish, manufacturing data was bearish. The rate of growth for the Eurozone's manufacturing sector was 50.6 compared to the Markit purchasing managers’ index score, where anything above 50 represents growth. The score brings the rate of growth for the quarter to 50.4, bumping along the line between growth and contraction [...]