“Persistent” poverty rates show UK citizens among the least likely in the EU to be trapped in poverty May 16, 2016 People living in the UK are among the least likely in the European Union to be trapped in poverty, new numbers from the Office for National Statistics (ONS) released today have shown. Between 2011 and 2014, 6.5 per cent of the UK’s population were classified as being in “persistent poverty”. The number – which equates to [...]
EU referendum: Fitch warns that protracted post-Brexit negotiations could trigger recession May 16, 2016 The stakes of any post-Brexit negotiations were laid bare today in a new report from ratings agency Fitch, which assesses how the UK economy will perform if it were to secure different terms of exit after voting to leave the EU. In its worst scenario – in which Fitch predicts at least two years of political wrangling along with [...]
Ratings agency Fitch thinks Brexit will make Europe weaker, poorer and more populist May 16, 2016 Europe could become weaker, poorer, more politically fractured and less secure if the UK votes to breakaway from the European Union, according to ratings agency Fitch. "An exit from the EU by the UK would weigh on the economies of other EU countries and increase political risks in Europe," the group said in a new report [...]
Two killer reasons why Moody’s upgraded Ireland’s debt rating May 16, 2016 Irish political stability and positive economic fundamentals were the two reasons cited for a rating upgrade over the weekend. Moody’s raised the long-term bond ratings one notch from Baa1 to A3 and reaffirmed a positive outlook. Despite fears over the implications for Ireland of a Brexit, 10-year bond yields were at a one-month low last [...]
China asks Britain for help to create financial super-regulator May 16, 2016 Britain has been advising China as it plans to create a new super-regulator to control its financial markets, according to reports. Chinese officials are looking to head off the stock market volatility that plagued its exchanges last year. Shares lost a third of their value in just one month having increased 150 per cent [...]
Greece could return to global debt markets by 2017 May 16, 2016 Greece could return to the global debt markets as soon as 2017 if international creditors agree on the latest debt relief measures later this month Prime Minister Alexis Tsipras has told a Greek newspaper. Speaking to Realnews, Tsipras also alluded that tapping into the markets would mean that "we might exit the bailout once and for all [...]
Number of high street shoppers falls by sharpest level in two years May 16, 2016 The number of people visiting the high street dropped by its sharpest amount in over two years last month, as retailers said they faced a combination of bad weather and weak consumer confidence. Footfall at high street stores dropped by 4.7 per cent in April compared to the year before, according to the British Retail Consortium [...]
Your next big payrise isn’t due until 2020 May 16, 2016 Workers banking on a bumper pay boost might find themselves disappointed, as a report out today has found that payrises have ground to an almost halt and could stay that way for the rest of the decade. A survey of more than 1,000 employers by the Chartered Institute of Personnel and Development (CIPD) discovered that pay [...]
Profits at UK firms are at their lowest level since before the financial crisis May 16, 2016 Profits at the UK’s largest companies slumped to their lowest level in a decade in 2015, with turmoil in the banking and commodities industries weighing heavily on corporate performance. New analysis from the Share Centre, released today, shows that the FTSE 350 – the UK’s largest 350 listed companies – posted combined pre-tax profits of £84bn last [...]
Inflation and wages set to falter this week as economy on pause until after EU referendum May 15, 2016 A stuttering labour market and a dip in inflation are set to be revealed later this week, in mounting signs that the UK economy is struggling for momentum. Figures to be released by the Office for National Statistics (ONS) are set to show inflation falling back towards zero, the number of people in work to [...]