UK house prices: The number of homes on the market has halved in the past 10 years, say estate agents January 27, 2016 Attention househunters: it's about to get rough out there. The National Association of Estate Agents (NAEA) has said the number of homes available to buyers fell to 37 per estate agent branch in December, the lowest figure for 2015 – and half the number available at the same time in December 2005. The figures also showed the [...]
Poor workplace wellbeing is costing businesses £554 per employee per year, as employers still need to do more to protect their workers’ health January 27, 2016 Staff absences are now costing businesses more than £500 per worker, but employers are still not doing enough to protect their employees' wellbeing. According to a report out today from the Chartered Institute of Personnel and Development (CIPD), although employee absences now cost businesses an average of £554 per employee per year, almost two-thirds (61 per cent) of [...]
Almost a quarter of freelancers believe they are overpaying their taxes, with much of the confusion arising from not understanding what can be deducted as an expense January 26, 2016 While Google has found itself in the spotlight recently for striking a deal with HM Revenue & Customs (HMRC) to fork over £130m in unpaid corporation tax, many self-employed people are facing almost the opposite problem. According to a survey from PeoplePerHour, nearly a quarter (22 per cent) of freelancers think they have been regularly [...]
Brent and US crude: Oil prices rise above $30 per barrel on hopes of deal to ease supply glut January 26, 2016 Oil prices rose above $30 per barrel today, on hopes the world's oil producing nations could reach deal to tackle the global supply glut. Brent crude, the global benchmark, rose five per cent to as much as $32.24 per barrel this afternoon while West Texas Intermediate (WTI) crude, the US benchmark, ticked up to $31.89. The Organisation of the [...]
World Bank cuts its oil price forecast to $37 per barrel January 26, 2016 The World Bank cut its 2016 oil price forecast to $37 per barrel in its quarterly report released today, from $51 outlined in October. The Washington-based organisation cited Iran’s return to the market, alongside the increased resilience of the US shale gas industry. On the demand side, it pointed to warm weather in the Northern Hemisphere and [...]
US services PMI disappoints, but consumer confidence climbs as Fed meets over interest rates January 26, 2016 The latest US services purchasing managers index (PMI) has come in below expectations, further adding to the challenge faced by the US Federal Open Market Committee (FOMC), who are deciding on whether to change the benchmark interest rate over the next 18 hours. Markit's flash services PMI came in a bit below expectations for January, [...]
Fed expected to hold on interest rates as committee members meet for the first time this year in Washington DC January 26, 2016 The US Federal Reserve is meeting today to decide whether to change the rate of interest from the 0.5 per cent rate it chose at its last meeting in December. The Fed is widely expected to leave rates unchanged when it releases statement at 7pm GMT tomorrow. The Federal Open Market Committee (FOMC) voted unanimously to [...]
UK house prices: From London to Leeds, here are the UK’s cities, ranked from least to most affordable property January 26, 2016 House prices in the capital may be shooting up, but considering Londoners tend to earn a lot more than those living in, for instance, Glasgow, what does that actually mean? A new report ranks world cities by how much house prices are in comparison to locals' average salaries. And while London (unsurprisingly) is named one of the world's most [...]
US crude and WTI: Credit Suisse slashes oil price forecasts by more than $10 January 26, 2016 Credit Suisse has become the latest big bank to slash its oil price forecasts, to the tune of around $10 per barrel for 2016 and 2017, on high inventories and slower demand growth. The Swiss-based bank cut its 2016 price forecast for Brent crude to $36.25 per barrel from $58.00, while lowering its 2017 outlook to [...]
One in five home insurance claims is rejected, although almost all motor claims are paid out, finds insurance industry body ABI January 26, 2016 One in five (21 per cent) of claims on home insurance during 2013 and 2014 was turned down, according to figures out today from the Association of British Insurers (ABI). The first set of insurance payout statistics ever published by the ABI also revealed that 99 per cent of motor insurance claims were accepted, as [...]