EU referendum: British Chambers of Commerce boss John Longworth suspended over Brexit support March 5, 2016 The British Chambers of Commerce (BCC) have temporarily suspended director general John Longworth for expressing support for a Brexit. Longworth was suspended following an emergency board meeting on Friday night, reports the Financial Times, following remarks which do not reflect wider feeling amongst many of the BCC's members. On Thursday Longworth became one of the first major [...]
UCAS forms at the ready: Manchester Metropolitan University is offering students the chance to get paid while studying, and Pinsent Masons is just one of the companies paying students to study March 4, 2016 With competition for entry-level jobs scarily high, choosing whether to plump for a university degree or some extra years of work experience can be a daunting decision. However, some employers and educational establishments are looking at ways to offer bright young things the best of both worlds. In just under a fortnight's time, Manchester Metropolitan University [...]
Brent crude and WTI: Oil prices stay higher after US jobs report March 4, 2016 Oil prices rose today, as strong US employment data fed into optimism that the market may have finally bottomed out. Brent crude, the global benchmark, rose 1.4 per cent to $37.59 per barrel this morning, putting it on course to end the week with a gain of more than five per cent. Meanwhile, West Texas Intermediate crude, [...]
US non-farm payrolls smash it again – but wages fall March 4, 2016 US job openings leaped again in February, way above analyst expectations. Official figures from the US' statistics bureau showed openings rose to 242,000, against expectations of 195,000. That left unemployment at 4.9 per cent, a post-recession low. However, average hourly earnings fell by 0.1 per cent during the month, from a 0.2 per cent rise the month before. “Fed [...]
Customers with the Big Six energy companies could be missing out on as much as £400 a year on their energy bills, despite announced price cuts March 4, 2016 The energy market is still failing to provide consumers with the best possible prices, research released today by consumer interest company Which? has found. The study found that customers of the so-called Big Six energy companies – British Gas, EDF Energy, npower, E.on, Scottish Power and SSE – could save up to £400 a year if they [...]
Dallas Fed warns oil market won’t stabilise this year March 4, 2016 The Dallas Fed chief said the oil market won't rebalance this year, as he warned persistent weakness in the energy sector could send "negative ripples effects" through financial markets. Robert Kaplan, Dallas Fed president, said demand and supply won't balance until mid-2017, however this could change if the Organization of the Petroleum Exporting Countries (Opec) alters its production strategy. "This forecast [...]
UK housing market: Retirees turning their backs on downsizing in favour of buy-to-let investing, but they’re raiding their pensions to afford it March 4, 2016 Downsizing has fallen out of favour with older homeowners, with more and more purchasing their dream retirement property and then renting it out until they are ready to move in. According to research released today by Prudential, 20 per cent of over-55s would consider making a buy to let investment with the intention of living in it [...]
UK ports under threat from EU rules overhaul – Centre for Policy Studies March 4, 2016 The UK's thriving ports could be threatened by new EU regulations to be debated next week. The Ports Services Regulation will end the UK ports industry’s long-standing independence that has encouraged competitiveness and investment, a think tank has warned. The Centre for Policy Studies (CPS) said 75 per cent of the UK’s largest ports are privatised, with [...]
Oil producers set time and place for second production freeze meeting – Nigeria’s oil minister March 3, 2016 The second meeting of the Organization of Petroleum Exporting Countries (Opec) and non-Opec producers are planning to meet in Russia on 20 March to continue talks on freezing oil output, according to Nigeria’s oil minister Emmanuel Kachikwu. At the first meeting in February, brokered by de facto Opec leader Saudi Arabia; Russia, Qatar and Venezuela agreed they would cap their [...]
As large multinationals like Google are slammed for taking advantage of the tax system, the Office for Tax Simplification vows to untangle tax burden for smaller companies March 3, 2016 Government has today unveiled a slew of recommendations designed to simplify tax for small businesses, including better sharing of data across departments and rejigging filing dates. The Office for Tax Simplification (OTS), which published the recommendations aimed at companies with less than 10 employees, believes a tax system that applies the same set of rules [...]