Here’s what to keep an eye on from European Central Bank (ECB) president Mario Draghi later today April 21, 2016 It’s decision time in Frankfurt once again. This afternoon, the European Central Bank (ECB) will announce its latest stance on interest rates and its bond-buying quantitative easing (QE) programme. It’s highly unlikely anything will change, but following last month’s awkward outing for president Mario Draghi, the style will arguably be more important than the substance. Here’s what [...]
Banking exports will pass £100bn in next decade, but government’s £1 trillion target still some way off April 21, 2016 The government will spectacularly miss its target to increase the value of UK exports to £1 trillion by the end of the decade, a new report has said, as the City of London looks set to continue punching above its weight on the global stage. In a report launched today, Barclays said that the value [...]
Nearly 60,000 companies hit by National Living Wage already in “significant financial distress”, insolvency firm warns April 20, 2016 The National Living Wage (NLW) risks tipping thousands of vulnerable companies over the edge as they struggle to absorb higher staff costs, one of the UK’s leading insolvency firms has warned. More than 1.8m workers were given a pay rise on 1 April after a new minimum wage came into force, requiring employers to pay at least £7.20 per [...]
How you doing? The labour market may be stumbling, but not for everybody April 20, 2016 Economic data out this morning showed that the unemployment rate across the country was 5.1 per cent, wages grew by 1.8 per cent over the year and the number of people in work reached a new record high. But those are generalisations – the picture differs markedly across sections of the economy. So who has [...]
Unemployment numbers up and wage growth down: Why the UK labour market has started to stutter April 20, 2016 Jobs and wages figures released today raised questions over whether the UK economy could be losing steam. Analysts were quick to point to a host of factors that could be at play, as well as what the numbers mean for everything from interest rates to Brexit. The figures The headline unemployment rate came in unchanged [...]
Wage growth falls and jobless numbers climb as Britain’s jobs recovery falters April 20, 2016 Wage growth stumbled and the number of people out of work jumped in the three months to February 2016, according to numbers released by the Office for National Statistics (ONS) this morning, in a sign that the UK labour market could be losing steam. Pay packets grew by 1.8 per cent compared to last year [...]
Incredible shrinking toilet paper: The six products you’re getting less of, but are not getting cheaper April 20, 2016 When you're spending a penny, you're being short changed, it turns out. One brands' toilet rolls have been quietly shortened, but you're still paying the same price, and it's just one of several products where you're now getting less bang for your buck – and may even pay more for less – according to research from consumer [...]
CEBR: Brexit but staying in the Single Market could leave UK GDP higher by 2030 April 20, 2016 A leading think tank has said Britain leaving the EU but staying in the single market could result in its GDP being higher by 2030. It comes amid rising furore over the Treasury's prediction that each UK household would be £4,300 worse off if the UK leaves the EU. The Centre for Economics and Business Research (CEBR) said [...]
UK retailers hit by drop in Chinese shoppers April 20, 2016 UK retailers are suffering as new European visa rules deter Chinese shoppers. Global Blue, the tax-free shopping services company, said the number of Chinese shoppers in British stores slumped 30 per cent last month, leading to an overall decline of 21 per cent in the first three months of 2016. Read more: Online retail sales growth rate doubles [...]
Mark Carney dismisses helicopter money as a “compounding ponzi scheme” April 19, 2016 The governor of the Bank of England has written off the idea of the experimental monetary policy idea known as helicopter drops as a "compounding ponzi scheme". Mark Carney told the House of Lords Economic Affairs Committee this afternoon that he was "not a believer" in the concept of helicopter drops saying the policy would erode faith in [...]