HSBC’s “nudge” app uses behavioural science to help you spend less January 19, 2016 HSBC is taking a leaf out of a behavioural science textbook, in order to help its customers make better financial decisions. The bank has begun trialling what it describes as the world's first banking app combining customer data and nudge theory. The latter is a behavioural science concept that uses positive and indirect suggestions to encourage people to make better decisions. HSBC's "nudge app" [...]
Inflation nudges up to 0.2 per cent as air fares rise – but cheap food and alcohol push CPI down January 19, 2016 Inflation rose 0.2 per cent in December – the first month in almost a year – although still far from the UK's target of two per cent. This is the first month since January 2015 that the rate has been higher than 0.1 per cent. The Consumer Price Index was nudged up by transport costs, particularly [...]
Tube strike 2016: Now TSSA union will join Aslef and RMT for January and February strike dates a day after Unite pulls out in light of TfL talks January 19, 2016 A third union will join Aslef and RMT in taking part in Tube strikes, the first of which is due to take place next week if an agreement can't be reached over pay and working conditions connected to the Night Tube. TSSA has said it will also walkout if talks between the unions and Transport [...]
UK is one of the top 10 countries for attracting skilled migrants – but lack of vocational training and gender pay gap is holding it back January 19, 2016 The United Kingdom has been ranked seventh in the world for attracting skilled migrants, ahead of Germany and France – but behind the United States. According to research due to be unveiled today at Davos by Adecco Group, Insead and the Human Capital Leadership Institute, Switzerland is most able to attract, develop and retain highly-skilled workers, while the UK maintains its [...]
IEA warns of “enormous strain” on oil market in 2016 January 19, 2016 The International Energy Agency (IEA) said that warm winter weather and rising supply mean that the world will continue to drown in oil until at least late 2016. "We conclude that the oil market faces the prospect of a third successive year when supply will exceed demand by one million bpd and there will be [...]
Chinese growth falls to 25-year low – but markets shrug it off January 19, 2016 They say forewarned it forearmed, and Chinese markets seemed to agree last night, after they shrugged off potentially devastating growth figures. The country reported gross domestic product (GDP) growth of 6.9 per cent in 2015, the slowest pace of annual growth since 1990. But while the figure was disappointing, it was broadly in line with [...]
Friends Reunited closes… years after everyone thought it was already gone January 19, 2016 Friends Reunited, one of the pioneering social media sites that allowed people to reconnect with old classmates and colleagues they'd lost touch with, has shut down after 15 years. The site, which was set up in 2000, was one of the earliest of its kind and boasted tens of millions of users at its peak. [...]
Oops: Next has infringed the Companies Act (but don’t worry, your dividends are safe) January 19, 2016 Next has had to issue a circular this morning, admitting to a "procedural oversight" which has resulted in a "technical infringement" of the Companies Act. The incident relates to payments of special interim dividends from 3 February 2014, 2 February 2015 and 2 November 2015 and an ordinary interim dividend paid on 2 January 2015. [...]
Prudential names John Foley as permanent UK chief executive January 19, 2016 Prudential has confirmed John Foley as chief executive of its UK business, three months after predecessor Jackie Hunt left the firm. Foley has been acting in the role on an interim basis since October last year. He has been with the Pru since 2000, and has worked in a number of roles including group investment director, [...]
Why China’s devaluation of the yuan is good for the UK January 19, 2016 The UK knows only too well what it means to have an overvalued currency – sterling’s strength has dulled the competitiveness of the UK’s export-oriented manufacturing industry for decades. Even though the UK earns around 30 per cent of its GDP from exports, the continuously large trade deficit on goods means that overall trade is [...]