City jobs have jumped 34pc but many hoped it’d be more. Here’s why March 3, 2014 Jobs in the City grew by 25 per cent in February, compared to a year ago, according to recruitment firm Astbury Marsden. The group found that 3,220 new jobs were created in London's financial district last month, following a strong January. And more than that, 34 per cent more jobs have been created in the [...]
UK mortgage approvals soar to highest level since 2007 March 3, 2014 The Bank of England (BoE) has released figures showing mortgage approvals for new house purchases climbed from 72,798 to 76,947 in January – their highest level since November 2007. However, mortgage approvals remained 25 per cent below their pre-crisis levels. UK economist for London-based consultancy Capital Economics Samuel Tombs, said: There is little reason to [...]
Job growth in UK manufacturing fastest since 2011 as Eurozone activity eases back March 3, 2014 The UK’s manufacturing sector saw strong growth last month, with job creation reaching a 33-month high. Markit and CIPS’ purchasing managers’ index hit 56.9 in February, after analysts forecast 56.5. From Markit’s release: The strong upswing in the UK manufacturing sector was maintained during February, as levels of production and new business continued to rise at robust and [...]
Ukraine: The biggest crisis in Europe this century says Hague March 3, 2014 Foreign secretary William Hague has called the current situation in Ukraine “the biggest crisis in Europe in the 21st century” this morning. Hague confirmed Russia’s taken operational control of Crimea, and that he’s “very concerned” about the possibility of movement by Russia further into eastern Ukraine. There is "no justification" for Russia's actions, he said. [...]
Russia’s stock market is crashing as central bank sells $10bn in FX reserves March 3, 2014 Russia’s MICEX stock exchange is plunging on the growing crisis in Ukraine. It’s currently down almost 10 per cent at 1,304, with stocks heading towards their biggest slump since 2009. The rouble has also slid sharply. One dollar is currently worth 36.39 roubles. Mechel – one of Russia’s leading mining companies – plummeted 31 per [...]
UK set to abolish tax on Bitcoin March 3, 2014 The UK is planning to scrap VAT on the trading of digital currency Bitcoin, reports the Financial Times. A briefing by Her Majesty's Revenue and Customs (HMRC) said it would end the 20 per cent VAT on Bitcoin transactions, adding that it would not tax margins as well. A formal announcement is expected later in [...]
Markets are spooked: FTSE 100 falls to two-week low March 3, 2014 The FTSE 100 share index fell 108 points at the open, now down 1.1 per cent at 6,733. Cyclical shares have taken the biggest hit, as investors lose their appetite for risk, in the face of the escalating crisis in Ukraine. Other European markets are also in the red. The German DAX fell 1.8 per [...]
Information startup DueDil raises $17m March 3, 2014 Business data platform DueDil has announced today that it’s raised a further $17m (£10.2m), taking the London-based startup's total investment to $22m in the past 10 months. Big data DueDil gives individuals and businesses free-to-access, up-to-date information on companies and directors. Led by Oak Investment Partners, DueDil’s latest funding round was also supported by London [...]
What you need to know before the open March 3, 2014 European stock futures have been falling as the tensions in Ukraine continue to rise. The rouble is currently at an all-time low, and Russia’s central bank has announced it’s hiking its benchmark interest rate from 5.5 per cent to seven per cent. All European markets are expected to fall sharply at the open, after Ukraine [...]
Vodafone launches partnership with Malala Yousafzai March 3, 2014 Mobile technology could bring 5.3m people out of illiteracy by 2020, according to telecoms operator Vodafone, which has released it's Vodafone Connected Women report. The research undertaken by Accenture and Oxford University's Said Business School, concluded that limiting female illiteracy in developing countries would allow women to gain new employment opportunities leading to an increase [...]