Brexit would spell the end to UK manufacturing May 4, 2016 Britain's already embattled manufacturing sector would be left fighting for its long-term survival if Britain votes to leave the European Union. Asked about its survival prospects outside of the EU, professor Marco Taisch, chairman of the World Manufacturing Forum, told City A.M: "It's a matter of time. It can survive for five to seven years, but long-term it can't." [...]
Even the national living wage can’t stop shops from cutting prices May 4, 2016 Prices on the high-street fell in April, despite the introduction of the living wage, according to the latest shop price index from the British Retail Consortium (BRC), published today. Retailers cut prices by 1.7 per cent over the past year — the same rate of discounting as a month earlier and the 36th consecutive period of falling [...]
World Bank warns area covering two-thirds of world population at risk of growth slowdown May 3, 2016 Water shortages could knock as much as six per cent off the size of the world’s largest economies over the next three decades, the World Bank has said in a new report published today. An area that includes more than four billion people, covering China, India, the middle east and sub-Saharan Africa, will suffer shrinking [...]
Employers rely on this many workers from elsewhere in the EU May 3, 2016 UK employers rely on a workforce made up of over one million EU workers, a study out today has found. According to the research by Adecco and the Social Market Foundation, there are 1.6m employees in the UK who hail from somewhere else in the European Economic Area (EEA) or Switzerland, which equates to around [...]
European Commission trims growth forecasts and warns on EU referendum May 3, 2016 Growth and inflation will remain weak for the rest of the year, the European Commission has said as it cut its outlook for the continent in its quarterly economic forecast, released today, and warned Brexit could knock growth even further The Eurozone area will grow by 1.6 per cent this year – down from a [...]
Bleak outlook for UK manufacturing industry – is Brexit to blame? May 3, 2016 Confidence in the manufacturing industry plummeted in April, according to the latest purchasing managers' index (PMI) data out this morning, raising fears about a sustained slowdown in the sector – and the wider economy. On a scale where scores below 50 mark contraction, the Markit/Chartered Institute of Procurement and Supply (CIPS) survey came in at 49.2 – [...]
Rich people live longer than poor people … and the gap is widening May 3, 2016 "Money can't buy you happiness," some poor fellow once said. It can, however, purchase an extra few years of good health, according to a new study from Cass Business School out this morning. Read more: The North-South life expectancy divide Researchers found that the difference in life expectancy between those of us who live the [...]
Week ahead: Data and results set to keep UK investors busy as PMIs and supermarket results come thick and fast May 3, 2016 First quarter earnings season as well as a constant flow of economic data is set to keep investors busy all this week. The FTSE is coming off the back of a disappointing session after it closed down 80.51 points at 6241.89 on Friday following underwhelming results from some of the UK’s top banks. This week that [...]
One more survey that shows the living wage and Brexit fears are hitting hiring May 3, 2016 Brexit fears and the introduction of the national living wage are holding down pay and stopping firms from taking on staff, the latest jobs report from Adzuna suggests. The online recruiters said that advertised salaries for vacancies in the UK stood at £33,815 in March — down two per cent on last year — while [...]
Businesses rattled as latest survey points to an economic slowdown May 3, 2016 Business confidence has plummeted during the last few months due to severe volatility on the financial markets, the approaching EU referendum and the introduction of the national living wage, according to a new survey out today. The latest confidence monitor from the Institute of Chartered Accountants in England and Wales (ICAEW) and Grant Thornton, fell [...]