No change to Eurozone austerity targets as region emerges from recession, says IMF October 8, 2013 (International Monetary Fund) There is no need to adjust austerity targets in the Eurozone, said the International Monetary Fund (IMF) today. The IMF, releasing its latest World Economic Outlook this afternoon, said that fiscal changes in periphery countries do not need to be made unless growth slows markedly. The region, despite "still being constrained by [...]
Three quarters of firms optimistic about the future, says IoD October 8, 2013 A new survey of business leaders has found that 75 per cent of Institute of Directors members believe the outlook is now brighter than at any stage since the financial crisis of 2008. Of the 1,309 members who responded to the survey 46 per cent now have high confidence for the next 12 months, with [...]
IMF raises UK growth forecast October 8, 2013 The IMF has upgraded its growth forecasts for the UK in its Wold Economic Outlook. The UK is expected to grow by 1.4 per cent in 2013 an increase from the previous projection of 0.9 per cent. In 2015 the IMF expects the UK will grow by 1.9 per cent an increase from the previous [...]
368 Royal Mail staff turn down £2,000 shares October 8, 2013 368 out of 150,000 members of staff at the Royal Mail have opted out of free shares which will be worth about £2,000, latest figures show. 10 per cent of shares were reserved for staff; the general public can buy shares until midnight tonight. How to buy shares in Royal Mail
Collapse in US economic confidence largest since Lehman October 8, 2013 US economic confidence has collapsed by 12 points to -34 in the Gallup survey of economic confidence. This is the second largest decline since Gallup started started tacking economic confidence in 2008. The results come from the last week over the period of the US government shutdown – the first in 17 years.
Could the US cheat its way around the debt ceiling? October 8, 2013 As equities market move lower as the US enters its eighth day of shutdown, we're seeing no signs of a crash ahead of the US hitting the debt ceiling on 17 October. Are investors convinced that politicians will strike a deal, or do they have confidence in a workaround being floated by economics wonks – [...]
Dubai’s Nakheel returns to halted artificial island project October 8, 2013 Dubai based developer Nakheel will be resurrecting the development of part of one of three islands, another indicator that recovery after the 2008 financial crisis is now in full swing (at least if you're the sort of person with the funds to visit a private island). Rebranded from Palm Deira to Deira Island, the palm-shaped [...]
MEPs vote for wave of tobacco regulation October 8, 2013 The European parliament has passed a host of anti-tobacco regulations. The parliament on Tuesday backed proposals to increase the size of cigarette warnings on cigarette packs to 65 per cent. This was however lower than the original 75 per cent proposed by Labour MEP Linda McAvern. The current EU standard for health warnings, covers 30 per cent [...]
Demand for Royal Mail shares exceeds £30bn October 8, 2013 With shares worth around £2bn to be sold, institutional investor demand has swamped that supply according to Sky News' City editor Mark Kleinman. That doesn't include demand from members of the public. Kleinman says that a "last-minute rush for shares" is expected throughout today. If you still want to buy shares, find out how here.
Parents’ education matters and 55-65 year olds more proficient than young people, says study October 8, 2013 (OECD) The Organisation for Economic Co-operation and Development (OECD) has published its report on adult skills proficiency, 24 rich countries, surveyed just shy of 9,000 age-working adults in England and Northern Ireland. (Release) Here's some illuminating things the report found: – Young people in England were rated 22nd out of 24 countries for literacy proficiency. [...]