Nick Clegg joins directors over migration plea August 25, 2014 Deputy prime minister Nick Clegg last night joined a chorus of senior figures calling for overseas students to be excluded from immigration figures. The Liberal Democrat leader echoed a demand from Tory former deputy prime minister Lord Heseltine, and the Institute of Directors, for a more flexible approach to student visas. Clegg, who is on [...]
Top state schools add £21,000 premium to house prices in catchment areas August 25, 2014 Buying a house in a catchment area for one of the best state schools in England can cost tens of thousands of pounds more than a similar home in the same area, according to research out today. Figures from Lloyds Bank indicate that it costs an average of £21,000 more to live in the catchment [...]
Manufacturers say pay deals are bucking national wage slump August 25, 2014 The UK’s industrial firms are reporting stronger wage growth than dismal official figures suggest, with a new survey indicating that wages in the sector are now accelerating at a faster pace than inflation. The latest figures from manufacturing industry body EEF show an average pay increase of 2.6 per cent between February and July, in [...]
Bank holiday wash-out for UK’s retailers August 25, 2014 The August bank holiday proved a wash-out for retailers after heavy rainfall yesterday kept shoppers away from stores. According to retail analysts Springboard, average footfall across shopping centres, high streets and retail parks was down by as much as 14.1 per cent up until midday yesterday alone after rain and strong winds swept across the [...]
Fuel price decline lifts spending power for embattled consumers August 25, 2014 The drop in fuel prices and lower inflation on other essential items is helping to prop up discretionary incomes in the UK, according to figures released this morning. Fuel prices fell by 2.9 per cent in the year to July, according to research conducted by Asda, while food prices also dipped by 0.4 per cent. [...]
Roche buys InterMune for $8.3bn in Swiss firm’s biggest deal for five years August 25, 2014 Roche, the huge Swiss-based pharmaceutical company, has bought biotechnology company InterMune for $8.3bn (£5bn), in Roche’s biggest acquisition for five years. The deal will see Roche pay $74 a share for rare lung disease specialist InterMune in an all cash transaction. The price represents a premium of 38 per cent on InterMune’s closing price [...]
Professional services hiring hits a record high even as growth eases August 25, 2014 Professional and business services firms are currently snapping up new staff at the fastest pace in at least 16 years, with slower growth in the sector failing to stem a wave of hiring. According to the Confederation of British Industry (CBI) this morning, more business and professional services firms are reporting that they are recruiting [...]
Fears of threat to UK house prices from shale gas fracking rejected by government August 25, 2014 The government has stuck to its guns over fracking despite claims that the practice could be damaging to property values. The Department of Energy & Climate Change (Decc), led by minister Ed Davey, told City A.M. shale exploration would have no impact on house prices, despite suggestions homes near drilling sites could be put into [...]
Zoopla’s UK property rich list reveals number of housing millionaires set to hit 500,000 August 25, 2014 Almost 500,000 homeowners in the UK are now part of the so-called property millionaires club after an explosion in the number of houses valued over £1m during the past year. The property rich list, released today by property website Zoopla, said that 484,081 flats and houses are now worth a seven-figure sum – up 49 [...]
Iceland’s Bardarbunga volcano still a threat despite warning downgrade from red to orange August 25, 2014 Iceland’s Met Office has reduced aviation alerts from red to orange, following scientific evaluation of volcanic activity at Bardarbunga. The new alert level means that all restrictions on aviation have been cancelled and all scheduled services airports in Iceland are open. While a sub-glacial eruption was believed to have occurred on Saturday evening, observations showed [...]