Full employment in Britain has lowered productivity instead of increasing wages September 20, 2017 The UK jobs market is booming, as the latest ONS figures show. Unemployment is at its lowest for over 40 years. A record 32.1m people are in employment, a rise of over three million since the financial crisis. Apart from in a few scattered pockets, Britain is at full employment. Usually in such circumstances, wages [...]
Fifth consecutive monthly house price fall in August as more signs emerge of London market dragging September 20, 2017 London house prices recorded the biggest average fall of any region in England and Wales in August, according to new data, as the squeeze at the top end of the British property market continues. Prices in the capital grew by only 0.7 per cent in the year to August, as the average price dropped by [...]
UK business recoils at Liberal Democrat leader Vince Cable’s suggestion of a second EU referendum | City A.M. September 19, 2017 Vince Cable’s calls for a second referendum on Brexit missed the mark with the business community today, as key trade bodies stressed that the UK must prioritise forging a new relationship with the EU. Speaking at the party’s conference in Bournemouth, the Liberal Democrat leader said the British people should be given a “first referendum [...]
Rio Ferdinand: Boxing promoter Mick Hennessy says ex-Manchester United man “should be commended” for stepping into the ring September 19, 2017 Boxing promoter Mick Hennessy has welcomed former England and Manchester United defender Rio Ferdinand’s move into professional boxing. The retired footballer is following in the footsteps of former Premier League players Curtis Woodhouse and Leon McKenzie who both took up boxing after retiring from football, as well as ex-England cricketer Freddie Flintoff who won in [...]
Hermes weighs in on the active versus passive investment management debate and finds active strategies are cyclical September 19, 2017 Active investment strategies may not always perform better than their passive counterparts, but they are probably still worth keeping, according to new research from Hermes Investment Management. This is because the performance of active funds is cyclical, according to Hermes, and the value may be higher at times of “market inflection”. Read more: The great [...]
Pret a Manger brushes off Jollibee takeover rumours | City A.M. September 19, 2017 Pret a Manger intends to push ahead with its plans for a possible float on the New York Stock Exchange despite speculation a multi-billion-dollar Filipino business is eyeing a takeover bid for the coffee and sandwich chain. City A.M. understands that Jollibee and Pret have not been in contact with each other on the potential [...]
Liberal Democrat leader Vince Cable set to call for a second Brexit referendum at party conference in Bournemouth September 19, 2017 Liberal Democrat leader Vince Cable is expected to call for a second Brexit referendum when he addresses his party in Bournemouth today. Cable, who was crowned party leader in July, will argue at the Liberal Democrat conference that the public must be allowed to decide on Brexit after the negotiations with the EU have concluded. [...]
Piccadilly Line’s Night Tube service troubles could continue until end of the year as unions point to driver shortage September 19, 2017 Night Tube services on the Piccadilly Line are being derailed by fewer trains being run than scheduled, leading Transport for London (TfL) to draw up an amended schedule in an effort to minimise disruption. New figures obtained by City A.M. reveal that since July, the line has been running considerably fewer trains than scheduled, which [...]
KPMG has been cleared of wrongdoing over its 2007 HBOS audit September 19, 2017 KPMG has been absolved of responsibility by the accounting watchdog over its auditing of HBOS in the run-up to the bank’s collapse in 2008, saying at the time there was no evidence market conditions would take such a dramatic turn. The Financial Reporting Council (FRC) said today after a detailed investigation, it had decided it [...]
GDPR: Nearly half a million small businesses don’t have a clue about new data rules September 19, 2017 Hundreds of thousands of small businesses have no clue that there are new rules governing data coming into force within months, new figures reveal, Two in five small and medium-sized firms in London have not heard of the General Data Protection Regulations (GDPR), EU-wide rules which will be adopted by the UK after Brexit and [...]