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. [...]
Arrests in UK, Sweden and US after takedown of darknet marketplace Silk Road October 8, 2013 A total of four men have now been arrested in the UK over connections to recently suspended darknet auction site Silk Road. That resulted from investigations and seizures by the FBI. Arrests have also been reported in Sweden and Seattle. Three of those men are in their early 20s, and were arrested in Manchester. A [...]
Tax havens are finished says SocGen CEO October 8, 2013 Societe Generale, chief executive, Frederic Oudea has told French television channel BFM that the days where individuals and company's could channel money into secretive accounts in order to avoid tax are over. Oudea said on Tuesday: With all the reforms today that have been done by various governments, tax havens – that is to say [...]