Strong services keep UK in top spot in Europe January 6, 2014 GROWTH in Britain’s service industries slowed slightly during December, but a major survey of firms suggests that the UK economy is still expanding at the fastest pace in western Europe. In Markit’s latest purchasing managers’ index (PMI), the UK’s headline figure dropped to 58.8, still well above the neutral 50 mark. Combined with earlier surveys [...]
Survey shows growth easing in US yet hiring remains bullish January 6, 2014 BUSINESSES in the US increased the pace at which they are taking on more staff, according to an influential survey published yesterday. The service sector’s output continued to grow in December, the Institute for Supply Management said, the 48th consecutive month of expansion for the industry. However, the pace of that growth slowed down – the [...]
Slight slowdown for emerging markets as new year kicks off January 6, 2014 THE RATE of growth in some of the world’s major developing economies slowed slightly as 2013 came to an end, with services lagging behind. HSBC’s emerging markets index dropped to 51.6 in December, down from 52.1 in November, suggesting weak growth in the developing world. The economies of Brazil, Russia, India and China (BRIC) all posted a [...]
Coalition split deepens over welfare budget January 6, 2014 CHANCELLOR George Osborne has announced he will cut a further £12bn from the welfare bill if the Conservatives are in power after the 2015 general election. In a speech in Birmingham yesterday, Osborne set out his economic plan for the next four years, describing 2014 as “a year of hard truths,” and adding that the [...]
Nissan’s black cabs look green but electric launch faces hurdles January 6, 2014 NISSAN has hailed its new black cab as a greener, cheaper alternative to the traditional Hackney carriage – but warned an electric version will only launch in London if the city installs more charging points. A spokesperson said the petrol engine NV200 will appeal to London’s 25,000 licensed taxi drivers when it hits the roads [...]
Clegg distances himself from shares for rights policy January 6, 2014 DEPUTY prime minister Nick Clegg yesterday sought to distance himself from the coalition government’s employee shareholder policy introduced by fellow Liberal Democrats Vince Cable and Jo Swinson just nine months ago. Calling the scheme, which allows employees to surrender some of their rights in return for shares in the company that they work for, a [...]
Car makers join Google’s plan to connect cars January 6, 2014 The latest technology, manufacturing and business news from the Consumer Electronics Show in Las Vegas… GOOGLE announced plans yesterday to team up with major manufacturers to put its Android platform into cars by the end of 2014. Honda, Audi, Hyundai, General Motors and chipmaker Nvidia have all joined Google’s Open Automotive Alliance (OAA), which aims [...]
Nvidia to bring console quality graphics to mobile before 2015 January 6, 2014 MOBILE phones will soon rival the latest games consoles in the quality of their graphics as Nvidia yesterday promised to bring next-generation gaming to smartphones this year with its latest mobile processor. Nvidia said its Tegra K1 chip would bring games superior to those seen on Microsoft’s Xbox One and Sony’s Playstation 4 to mobiles. [...]
Environment minister warns risk of flooding remains high January 6, 2014 MORE flooding could be on the way this week as the recent bad weather looks set to continue, the environment minister has warned. Owen Patterson gave a statement in the House of Commons yesterday and warned residents to remain vigilant after bad weather claimed the lives of seven people over the Christmas period. The minister, [...]
Britain to gain as EU may ease bank ringfence January 6, 2014 THE UK will benefit from plans to let national regulators decide whether or not to implement a ringfence, lawyers said yesterday. Britain’s ringfence plans had looked as if they would clash with the EU’s, making implementation difficult and costly for banks and regulators. But documents seen by the Financial Times indicate national regulators may get more of [...]