What are the biggest obstacles to global economic growth? February 24, 2017 | City Talk Global economic growth is lagging. The question is why. For insight into this, we asked readers of CFA Institute NewsBrief what they believe is the single biggest obstacle to global economic growth. I believe the biggest obstacle to global economic growth is . . . * Results do not add up to 100% due to [...]
“We are not in a bazaar”: German minister rules out HQ compromise in London Stock Exchange-Deutsche Boerse talks February 24, 2017 Politicians in Frankfurt appear determined to accept nothing but the headquarters of the combined London Stock Exchange and Deutsche Boerse, with an influential minister making clear he is not interested in compromise. “We are not in a bazaar,” Thomas Schaefer told City A.M. when asked whether there was anything the exchanges could offer to the [...]
Economists want an industrial strategy from the government – but will it solve the productivity puzzle? February 24, 2017 An updated industrial strategy for the UK is long overdue, a poll of prominent economists says, with the process of leaving the EU set to begin in earnest within a month. Two-thirds of the economists’ surveyed, including some of the leading academic economists in Britain, agree that the UK needs a new industrial strategy, according [...]
UK stamp prices will increase by 1p from March, the Royal Mail has said February 24, 2017 The Royal Mail has announced the price of stamps in the UK are due to increase by 1p from the end of March. In a statement today it said first class stamps will rise to 65p, while second class stamps will rise to 56p. Meanwhile, the price of a large letter first class stamp will [...]
Rapidly rising petrol costs are putting consumers off driving and pushing them to cut spending in other areas February 24, 2017 Higher pump prices have pushed UK consumers to spend less on their cars and cut back on driving. At the beginning of February, Britain's petrol prices rose to an average of 120p while diesel rose to 122p, and according to a new study, a quarter of drivers said they're now restricting their car use while [...]
Southern rail claims victory over the RMT, giving itself a pat on the back for its service February 24, 2017 Southern rail has labelled the ongoing industrial action by the Rail, Maritime and Transport union (RMT) as "impotent and ineffective", while bragging about how many trains it had managed to run in spite of the strikes. The RMT held its latest walkout on Wednesday, this time a 24-hour downing of tools, taking its tally to 29 strikes. Fears have resurfaced that [...]
Nigel Farage says he will never forgive media coverage of Ukip February 24, 2017 Nigel Farage has said he will never forgive the British media for having “demonised” Ukip and made him “frightened” to leave his home. The former Ukip leader accused sections of the press of using members with controversial views in order to discredit the party as a whole. Read more: Nigel Farage is staying away from [...]
How UK banks’ bonus rounds stacked up in 2016 February 24, 2017 Bad news if you're a UK-based banker: your bonus probably dropped this year. As bank results season came to a close, it turned out three out of the four major UK lenders shrank the size of their bonus pools this year – Lloyds was the only exception. RBS employees suffered the most, with their bonus [...]
Standard Life shares muted despite beating expectations with nine per cent profit growth February 24, 2017 Standard Life's share price was somewhat muted this morning despite beating expectations with a nine per cent increase in profits. Shares in the firm initially jumped before falling by 3.5 per cent by midday. The figures Fee based revenue grew by five per cent to £1.7bn and assets under management swelled – up 16 per cent to £357bn. [...]
RBS has slashed its bonus pool after disappointing results February 24, 2017 Royal Bank of Scotland (RBS) bankers are in for a disappointing bonus season, after the lender said it had cut its bonus pool by eight per cent. The company said today it had cut its bonus pool from £373m in 2015 to £343m last year. Over 93 per cent of the pool will be paid [...]