Google UK tax row: If the Public Accounts Committee mistakenly equate Google’s profits to its sales when discussing corporate tax deals today, they’ll be heading down a blind alley February 11, 2016 When the Public Accounts Committee grills Google and HM Revenue & Customs (HMRC) chiefs today, we may hear repetition of the claim that the technology giant is only paying a three per cent corporation tax rate compared to the 20 per cent everyone else pays. The MPs could do themselves a favour by not going down this blind [...]
UK property prices are rising at twice the pace of wages as housing activity picks up February 11, 2016 House prices are now rising at twice the pace of earnings after a resurgence in demand at the start of the year, new research today shows. Prices rose 0.2 per cent – or £688 – in January, taking the average value of a property in England and Wales above £290,000, according to estate agents Reeds Rains [...]
Economists: Prudential moves are likely to delay Bank of England interest rate hikes February 11, 2016 The Bank of England’s decision to raise interest rates is likely to be delayed by actions undertaken by the relatively new committee that focuses on financial stability. The financial policy committee (FPC) can impose restrictions on particular markets such as residential or commercial property markets, and can also make banks hold more capital. The monetary policy [...]
City workers kick off 2016 in the mood to move jobs as confidence climbs February 11, 2016 City workers began 2016 with itchy feet, according to new figures published today by a recruiter. Morgan McKinley said the number of job seekers reached 16,924 in January, up 67 per cent compared with the same month last year. A higher number of job seekers is associated with more elevated worker confidence. While the number [...]
UK wealth inequality is widening as climbing house prices due to quantitative easing drive home ownership down – Standard & Poor’s February 10, 2016 While quantitative easing (QE) may have helped to stabilise the UK economy, it has also led to a wider gulf between rich and poor, according to Standard & Poor's (S&P) – and it has also pushed home ownership even farther out of reach for younger people. QE has exacerbated wealth disparity by boosting financial asset and [...]
London weather: Thames Barrier closes for first time this year as spring tides loom just after Storm Imogen brought heavy rainfall and wind to the south of England February 10, 2016 It's official: it's been raining in London. The Environment Agency announced this morning that it has shut the Thames Barrier, a 520m moveable barrier in east London, for the first time this winter. "We are closing the barrier to protect London from the threat of flooding due to the high level of rain last week combined [...]
BP forecasts shale output to soar despite Saudi stand-off February 10, 2016 Saudi Arabia’s plan to drive out US shale producers will not work, according to BP’s Energy Outlook for 2016. The widely-read annual report predicts a 34 per cent rise in global energy consumption by 2035, almost 80 per cent of which will be supplied from fossil fuels. However, it forecasts stronger growth in shale that [...]
The UK’s 10 most difficult interview questions from Accenture, Barclays, Google and Metro Bank February 10, 2016 Job interviews are stressful at the best of times: not only do you have to remember not to fidget in your seat or worry about your handshake being clammy, you also have to get those tricky questions right… City firms are notoriously tough on their victims (er, we mean interviewees) and some of the interview [...]
Thanks, Janet Yellen: WTI crude oil price falls back below $28 February 10, 2016 US oil benchmark WTI crude fell back below $28 this afternoon, after comments from US Federal Reserve chair Janet Yellen warned turbulence on financial markets could derail economic growth. WTI crude fell to $27.75 per barrel after prepared remarks by Yellen showed she believes financial conditions have become "less supportive" of growth. The news follows [...]
Markets breath a sigh of relief as tough new regulation, MiFID II, is delayed February 10, 2016 Finance firms have been given another years breathing room from a regulatory overhaul of trading rules. The European Commission has proposed a delay of the Markets in Financial Instruments Directive, known as MiFID II, by a year. The new deadline is 3 January 2018, from 3 January 2017 previously. In November last year the commission [...]