The Shard inches closer to being filled after confirming second letting for 2016, with digital marketing agency Jellyfish due to move into level 22 soon March 2, 2016 One of the most iconic buildings on London's skyline inches closer to being filled today, after The Shard signed its second letting for the year. Digital marketing agency Jellyfish will later this year move its headquarters into a 9,017 sq ft office space on level 22 of the building near to London Bridge from its current base [...]
Moody’s cuts China’s credit rating to “negative” from “stable” March 2, 2016 Moody's cut its outlook for China from "stable" to "negative", citing the country's rising debt burden and uncertainty over the government's ability to implement the much needed economic reforms. The world's second largest economy is transitioning to a “new normal” of lower growth, driven by domestic consumption instead of credit-fuelled investment. "Without credible and efficient reforms, [...]
London’s Got Talent: London storms ahead of global rivals for attracting top business talent March 2, 2016 London is the most talented city in the world, with a survey showing that there are more highly-skilled people in the UK capital than in any other global rival. It surged ahead of rivals with a 16 per cent rise in high skilled workers in the past three years. London is now "in a league [...]
Benefit cuts to stall decline in poverty rates – Institute for Fiscal Studies March 2, 2016 The incomes of the UK’s poorest households have risen strongly over the last two years, but will be hit hard by future benefit cuts, a think tank has warned today. Poverty has plummeted, with 400,000 fewer children, 300,000 fewer working age adults, and 200,000 fewer pensioners in absolute poverty over the last 12 months than in [...]
Putin pushes oil price higher as Russian oil firms agree not to increase output in 2016 March 1, 2016 The oil price has been sent sharply higher by comments from Russian president Vladimir Putin, promising Russian oil companies will not increase output this year. The price has soared to highs for 2016, with international benchmark Brent crude trading at $36.83 and West Texas Intermediate going for $34.26 dollars a barrel. Putin was speaking at a meeting with [...]
US manufacturing suffers fifth month of contraction – ISM PMI March 1, 2016 The US manufacturing sector contracted for a fifth consecutive month in February, according to new survey data. The Institute for Supply Management's (ISM) purchasing managers' index rose to a score of 49.5 from January's 48.2. Scores below 50 indicate contraction. Production rose despite export growth falling into negative territory. A similar survey of US factories suggested growth had dropped to [...]
Companies warned over the risk of foreign exchange swings as volatility set to continue throughout 2016 March 1, 2016 International companies are being warned that swings in the value of the pound mean risk is building in the foreign exchange market as levels of uncertainty in 2016 are anticipated to be similar to last year. The pound has dropped considerably against both the dollar and the euro so far this year as worries around a [...]
The number and wealth of the world’s billionaires has peaked – but Mark Zuckerberg is the biggest riser March 1, 2016 The number of billionaires in the world peaked at a record high last year and has begun to drop, according to a new ranking – which added that the average wealth of the world's billionaires has also begun to fall. Forbes' 2016 Billionaires List showed the number of billionaires in the world has fallen to 1,810, from [...]
Fund managers predict 1-in-4 chance of a UK recession March 1, 2016 Fund managers are feeling increasingly gloomy about the outlook for the UK economy, according to a new survey. On average, they forecast a 23 per cent chance of a UK recession during the next eighteen months, according to investment bank and research house Liberum's UK SMID fund managers’ survey. The survey also showed they're pessimistic on all [...]
Japanese government’s 10-year borrowing costs fall below zero for first time ever March 1, 2016 Investors now have to pay a small fee to lend to the Japanese government. The interest rate on Japanese government bonds – tradable IOUs – has fallen to minus 0.062 per cent today. It means after 10 years the government can pay back less than it borrowed initially. Japan's shorter-term borrowing costs have already fallen below [...]