Eurozone growing at last but could be outstripped by a three-legged tortoise, says analyst November 4, 2013 The Eurozone may have returned to growth but at a painstakingly slow pace, which will make a full recovery a distant prospect, according to RBC Capital Markets. The improvement in the labour market has been revised away and the high value of the euro is causing problems for the area. The European Central Bank (ECB) [...]
Why EU plastic bag rules may have disgusting consequences November 4, 2013 Use of plastic bags in the European Union exceeded 10bn in 2010 – and it's easy to see why. The ubiquitous carrier bag is cheap and functional, but many are worried about the side effects of so much plastic waste. Several EU countries have already employed policies to curb their use. Now all other member [...]
Britain will prosper in a reformed Europe says Balls November 4, 2013 Ed Balls has just spoken for the first time at the Confederation of British Industry's annual conference. He stressed the importance of Europe to the UK's economy and the work Labour would do differently in 2015 – from tougher energy regulation to impartial investment in infrastructure. The shadow chancellor kicked off by saying that, although [...]
Cameron launches vigorous defence of HS2 November 4, 2013 David Cameron has launched a passionate defence of the controversial HS2 project. Speaking to the CBI on Monday, David Cameron said: We haven't built a line north of London for 120 years and when people challenge me about HS2 I say this, the West Coast Mainline is full thousands of our fellow countrymen who are [...]
Cost of St Jude storm set to exceed £1bn November 4, 2013 The St Jude storm could cost up to £1.1bn across Europe, according to broker Willis Re. The UK was the first country to be hit by the storm and last week Willis Re said the insurance industry could end up paying out between £300m and £500m. As a result of the storm seven people died [...]
G4S will co-operate with tagging services investigation November 4, 2013 Private security company G4S has announced its intention to "co-operate fully" with a Serious Fraud Office (SFO) investigation. In July, justice secretary Chris Grayling said that G4S had overcharged on two government contracts – including charging for tagging people who were already behind bars or deceased. Grayling said that the extent of that overcharging ran [...]
Twitter shares expected to double on first day of trading November 4, 2013 Analysts see Twitter's market entry as incredibly undervalued, with a market debut of just $11bn (£6.9bn) planned for this Thursday. Twitter is expected to price its initial public offering (IPO) this Wednesday, having announced that it will sell 70m shares at $17 to $20 each. While experts have suggested that Twitter have underplayed their hand [...]
Energy blame game and immigration debates are damaging says CBI president November 4, 2013 Political blame games and factually incorrect debates around immigration will be deemed unhelpful and damaging by the president of the Confederation of British Industry (CBI), Sir Mike Rake (pictured above, left), today. At the CBI's annual conference, its president is expected to stress the importance of cooperation between the government and business to deliver [...]
Businesses more flexible in wake of recession says Goldman Sachs November 4, 2013 Businesses are showing a much greater degree of flexibility than in previous recessions, according to a research note by Goldman Sachs. Dividends were cut at a much earlier stage compared to past recessions, business investment fell dramatically and wages have adjusted more quickly due to a more flexible labour supply, and employment has remained resilient [...]
UK construction surge continues in October as sector growth hits six year high November 4, 2013 The UK's construction sector continues to expand at a tremendous pace, according to the latest purchasing managers' index (PMI) data. In October construction PMI stood at 59.4, from 58.9. Economists had forecast that the PMI for the sector would come in flat at 58.9. World First's Jeremy Cook says that "it is the residential side [...]