With fresh IMF warnings over Greece’s “unsustainable” debt, is the Eurozone crisis about to heat up again? January 31, 2017 Jennifer McKeown, chief European economist at Capital Economics, says Yes. The IMF’s renewed assertion that Greek public debt is unsustainable is little more than a statement of the obvious. But it suggests that the Fund will not contribute to the bailout as had been hoped, implying that Eurozone creditors will need to foot the bill [...]
UK commercial construction hit a rough patch in 2016, falling nearly 15 per cent January 31, 2017 Commercial construction activity for the 2016 calendar year fell to £16.7bn, down 14.1 per cent on the previous period, according a new report by JLL, the property services company. The reduced work is a result of lower numbers of new build developments, which are down 18.1 per cent quarter-on-quarter, while refurbishments are 6.8 per cent lower [...]
Private jet trade soars as the UK overtakes the rest of Europe January 31, 2017 The UK buys more private jets than anywhere else in Europe, according to Global Jets Capital research published today. British public companies could be splashing out on 30 of the luxury planes. Another 68 may be purchased by other private enterprises. Some 959 private jets will be delivered to Europe between now and 2025, worth [...]
David Davis questions whether opponents of an Article 50 Bill trust the British people January 31, 2017 Brexit secretary David Davis will today up the ante as MPs debate Article 50, questioning whether his opponents “trust the people”. MPs are set spend the next two days debating legislation granting the government power to begin divorce proceedings from the EU. And speaking ahead of the debate, Davis said that MPs were presented with a [...]
London salaries hit but regional pay is faring better January 31, 2017 Average London wages have dived more than 3.9 per cent in the past year, a greater rate than any other part of the UK, according to data from Adzuna, the jobs aggregation website. Year-on-year salaries across the UK stand at 3.1 per cent lower than last January, at £33,323. Becky Barr, Adzuna research manager, said: “Salaries [...]
New in-depth study finds apprenticeship levy is little more than a stealth tax and could distort training schemes January 31, 2017 The apprenticeship levy, a flagship government scheme intended to boost the training of young people, has been slammed as little more than a stealth tax following a damning new report by the Institute for Fiscal Studies (IFS) which found it represents “poor value for money”. The levy will apply to all businesses with a payroll [...]
Top City lobbying group says Brexit is a once-in-a-generation chance to boost UK trade and investment January 31, 2017 An influential City lobby group believes Brexit is a once-in-a-generation opportunity to boost trade and investment into the UK – despite having previously campaigned to remain in the European Union. TheCityUK says post-Brexit trade agreements could enhance London's status as a leading financial capital and could also create new growth opportunities for the sector across the UK. In [...]
Consumer confidence climbed this month, but signs point to slowing spending in 2017 January 30, 2017 Overall consumer confidence edged up this month, but Britons showed they have less faith in making major purchases, signalling a spending slowdown in the year ahead, a new report suggests. GfK's consumer confidence index, published today, climbed two points to minus five in January. Three of the five measures experienced increases this month, one was unchanged and one decreased. It was the [...]
Cheeky IPO? Nando’s is considering a float January 30, 2017 Nando's, the South African restaurant chain famous for its spicy peri-peri chicken, is reportedly considering a cheeky initial public offering (IPO). Sources told Bloomberg Nando's is in the process of speaking to advisers and planning a share sale. Among its options, the Johannesburg-based company is mulling a London listing, the unnamed sources said. In a statement, a spokesperson [...]
Two ex-HBOS bankers among six convicted over corruption which cost the collapsed bank £250m January 30, 2017 Six people, including two ex-HBOS bankers, have been convicted over claims they drove businesses into the ground for their own gain, running up losses of around £250m for the now collapsed bank. Former banker David Mills, 60, his wife Alison Mills, 51, his associates Michael Bancroft, 73, and Tony Cartwright, 72, and HBOS employee Mark Dobson, 56, were all found [...]