Creative industries hiring from abroad as record employment creates skills shortage April 23, 2016 Britain's record employment rate has led to skills shortages in manufacturing, construction and financial services, but now it is taking its toll on the creative industries. Firms in animation, game design and visual effects – most of which are based in London – are turning to foreign graduates to plug skills gaps in the sector, [...]
Accountants warn that UK households are suffering from “massive over-indebtedness” April 22, 2016 Britain’s accountants have sounded the alarm bells over what they see as dangerously high levels of debt across Britain. In a new report, launched today, the Association of Chartered Certified Accountants (ACCA), said a “growing amount of evidence indicated [there was] a massive over-indebtedness by vulnerable groups in UK society”. Unsurprisingly, students, the self-employed and [...]
Grexit: Europe tells Greece there will be no discussion about writing off any of its bailout debt April 22, 2016 The European Commission has told Greece it is not considering writing off any of the €86bn (£67.5bn) handed over during the Greek bailout crisis, as it aims to have a new package of reforms wrapped up within the next week. Finance chiefs from Eurozone countries gathered in Amsterdam this morning to discuss the latest progress on the Greek bailout, [...]
London Marathon 2016 mapped: The rise of property prices along the route from the Blackheath starting line to the Mall finish April 22, 2016 It's not just a slog for runners around the London Marathon route this weekend. Anyone angling to jump on the London property ladder or looking to climb it faces a steep ascent with plenty of pain, arguably tougher than a 26 mile run around the capital – emotionally and psychologically at least. Runner's eyes won't [...]
Mark Carney wants more green bonds, Bitcoin technology and mobile banking to help deliver on United Nations’ climate change goals April 21, 2016 Mark Carney has said the expansion of environmentally-friendly finance products will help the world economy fight climate change and enhance economic stability around the planet. The governor of the Bank of England said that innovative ideas such as "green bonds", which are used to fund projects that have a positive impact on the environment, along [...]
Super Mario comes out fighting to defend European Central Bank (ECB) against German attacks, negative interest rates and misfiring bazookas April 21, 2016 Mario Draghi has hit back against critics of the European Central Bank (ECB), reiterating that nothing has been ruled out in its fight to stave off deflation in the Eurozone and wading into the Brexit debate in a defiant public appearance this afternoon. There was no change in the announcements from the ECB on interest rates and its bond-buying quantitative easing programme, [...]
European Central Bank (ECB) keeps interest rates on hold as Super Mario prepares to update the markets April 21, 2016 The European Central Bank (ECB) has kept interest rates unchanged as its president, Mario Draghi, prepares to confront criticisms of the Bank's monetary policy this afternoon. A statement from the ECB, published ahead of a key press conference with Draghi, said: The ECB decided that the interest rate on the main refinancing operations and the [...]
Retail prices drop for 21st consecutive month, but we’re still cutting back, according to the Office for National Statistics (ONS) April 21, 2016 Poor retail figures released by the Office for National Statistics (ONS) this morning have compounded fears of a slowdown in the UK economy during the first quarter of the year. Sales dropped by 1.3 per cent in March, a much steeper fall than the 0.1 per cent which had been pencilled in by analysts. Prices in [...]
Mortgage lending rockets in March 2016 as stamp duty tax changes prompt a borrowing spree April 21, 2016 Mortgage lending ballooned in March as landlords and investors piled into the property market to beat a slew of tax changes which came into effect at the start of April. A total of £25.7bn was borrowed for home purchases in March, according to figures released by the Council of Mortgage Lenders (CML) this morning – 43 [...]
The government has already missed its deficit reduction targets as public sector borrowing comes in at £74bn for 2015/16 April 21, 2016 The government has fallen short of its target to cut the deficit – just one month after it made its latest prediction. Public sector net borrowing, the amount the government needs to borrow in order to meet its spending commitments, came in at £74bn in the 12 months to March. This was down on the £92bn shortfall recorded [...]