Europe gets the jitters as confidence crumbles in the face of global turmoil March 30, 2016 Confidence in the Eurozone remains on shaky foundations as the EU’s official monitor of economic sentiment crumbled for a third consecutive month, feeding fears of a continent-wide slowdown. Both business and consumer jitters dragged the Economic Sentiment Indicator down from a score of 103.9 in February to 103.0 in March, its lowest level in 13 [...]
If you’re a higher earner, you’ll likely only retire on two-thirds of the pensions income you think you will March 30, 2016 Here's a midweek magic trick for you if you're earning over £50,000: Take the amount you think you're going to be raking in every year of your retirement from your private pension, then divide it by three and times it by two. Ta-da! There's the amount you're actually more likely to receive (we didn't say it [...]
EU referendum: The five job sectors already feeling the Brexit squeeze March 30, 2016 The number of job vacancies in the UK has fallen significantly and wage growth has slowed too – and it's the prospect of Brexit which is the most likely to blame. “There are signs that caution is controlling the current UK jobs market and stalling the recovery. One possible explanation is that uncertainty around Brexit means hiring intentions have been [...]
National Living Wage may motivate employees but here’s what it will do to productivity March 30, 2016 While the majority of businesses support the sentiment of National Living Wage (NLW), many are doubting it will boost productivity in the office, despite employees saying the pay rise will make them more motivated. According to a study released today by Close Brothers, 50 per cent of SME owners and managers it surveyed have their doubts that [...]
UK economists top 100: From George Magnus to Stephen King, these are the most influential financial experts in the UK and Ireland March 30, 2016 Maybe you want to get your head around why British workers aren't producing as much as they should be, quibble about when the Bank of England should start hiking interest rates, or simply stay on top of the steady stream of economic indicators spun out by various agencies. There's a lot of chatter out there [...]
National Living Wage: One in three workers in wage hotspots will benefit when new rules come in on Friday but very few workers in London will see their pay rise March 30, 2016 Around a third of workers in some parts of the country will see their pay packets boosted when the National Living Wage (NLW) comes into force on Friday but not many Londoners will be receiving a payrise. According to research released today by the Resolution Foundation, workers in Torridge, Devon, stand to gain the most from NLW, [...]
UK savings: People in their 30s and 40s are adopting a YOLO attitude and failing to set money aside for their future March 30, 2016 It may well be the hashtag that defines generation Z but, when it comes to savings, it's those in their 30s and 40s who have adopted a you-only-live-once attitude. Research published today by Scottish Widows has found that almost half (45 per cent) of those aged between 35 and 49 are shunning saving for the future [...]
Bank of England clamps down on buy-to-let market with strict new rules for mortgage underwriters March 29, 2016 The Bank of England has today revealed plans to clamp down on the buy-to-let market, setting out strict new rules for banks underwriting buy-to-let mortgage contracts. In a new paper out today, the Prudential Regulation Authority (PRA) said lenders will need to meet a minimum set of requirements before underwriting buy-to-let mortgage contracts, including assessing the [...]
The four key points from Janet Yellen’s speech at the Economic Club of New York March 29, 2016 Federal Reserve chair Janet Yellen delivered a speech on the economy at the Economic Club of New York today. In case you missed it, here are the key points: Proceeding cautiously with interest rates Yellen believes the ability to deal with economic shocks is asymmetric. Because interest rates are near zero, she believes it's easier to respond [...]
Janet Yellen says Federal Reserve will “proceed cautiously” on interest rate rises March 29, 2016 Rate-setters at the US Federal Reserve will "proceed cautiously" when they come to decide their policy actions in the coming months. Federal Reserve chair Janet Yellen reiterated the view that the outlook for economic growth and inflation had weakened since the start of the year. She told an audience at the Economic Club of New York: Given the risks to [...]