Driving down worryingly high youth unemployment is the City’s business December 5, 2016 I attended the London Councils London Government Summit last week alongside leaders from every London borough. It was an opportunity for us to discuss key London issues, including the increasingly urgent problem of high youth unemployment. Youth unemployment rates are still worryingly high, with the capital having a particularly poor record – the second highest [...]
Tony Blair and Nick Clegg risk damaging British business by seeking to block Brexit December 5, 2016 As a businessman and a proud Brexiteer – I was treasurer and board member of the Vote Leave campaign – I am convinced that Britain’s best days lie ahead. But we need to be ambitious. If we are, and if we seize this Brexit opportunity together, Britain can change for the better. My online financial trading business, [...]
Following a year of major political change, will 2016 be regarded as a turning point in history? December 5, 2016 Ruth Lea, economic adviser at Arbuthnot Banking Group, says Yes. I have little doubt that 2016 will go down as a major turning point in British history, as indeed was 1973 when we joined the European Communities. Then Britain, racked by post-colonial self-doubt, chose to join Europe’s political project of “ever closer union”, with all [...]
Atalaya Mining transforms the original Rio Tinto mine from tarnished site into a polished moneyspinner December 5, 2016 Restoring the original Rio Tinto mine may have been a “pain in the ass”, according to Atalaya Mining’s chief executive Alberto Lavandeira, but it hasn’t put the plucky, Aim-listed firm off plans to expand elsewhere. Nestled in the Andalucian hills in southern Spain, the vast pits of the open-cast copper mine are expected to reach [...]
British households taking on more debt as almost half struggle to pay credit card bills on time December 5, 2016 Almost half of British consumers struggle to pay off their credit card bill each month, while the proportion taking on more debt over the last five years has risen sharply. Borrowing has continued to rise to record highs in the wake of the vote to leave the European Union. The proportion of borrowers who have [...]
Over 5,500 UK restaurants face risk of going bust as pound’s fall makes food prices more expensive December 5, 2016 Thousands of UK restaurants could be at risk of going out of business in the next three years, as the fall in the value of sterling raises costs for imported food and threatens to squeeze consumer spending. Over 5,500 restaurant companies have a 30 per cent chance of going bust by the end of 2019, [...]
Londoners forced to fork out double the UK average in divorce costs December 5, 2016 The cost of divorce for Londoners is nearly double the average of elsewhere in the UK, thanks in part to the capital’s more expensive living costs, according to research published by law firm Seddons. Average divorce settlement costs from across the UK total £70,243 versus over £134,525 for couples living in London, according to Seddons’ [...]
UK pensions deficits rise amid uncertainty after EU referendum December 5, 2016 Pension deficits have almost doubled over the last 12 months due to ongoing market volatility sparked by Britain’s vote to leave the EU, posing serious threats to companies’ balance sheets and their ability to pay dividends, according to JLT Employee Benefits. “As we rapidly approach the all-important year-end, at current market levels many companies’ accounts [...]
ECB set to unleash more firepower in December meeting December 5, 2016 The European Central Bank is widely expected to extend its quantitative easing programme by six months at its next policy meeting on Thursday, amid ongoing political risk and stubbornly low inflation. The bank is largely expected to keep the size of its monthly bond purchases unchanged beyond its current end date of March 2017, at [...]
MPs’ Magnitsky amendment to criminal finances bill would see abusers’ assets frozen in the UK December 5, 2016 New powers to freeze the UK assets of those suspected of abusing human rights have received the backing of a cross-party group of influential MPs ahead of a parliamentary vote on the latest anti-corruption legislation. The MPs, led by Dominic Raab, conservative MP for Esher & Walton, have tabled an amendment for the asset freezing [...]