Interest rate hike more unlikely as Bank of England’s Sir Jon Cunliffe signals lending restrictions February 9, 2016 The Bank of England is likely to tighten lending restrictions rather than raise interest rates if the growth rate of credit exceeds that of GDP, a Bank official has said. Sir Jon Cunliffe said: “Given the vulnerability that already exists and the powerful drivers in the UK, particularly in the housing market, if credit began again to [...]
Mind the skills gap: Skills shortages mean just three per cent of companies are capable of delivering their own strategies with their existing in-house team, hindering growth February 9, 2016 Skills shortages are now so serious at UK companies that less than one in 20 are able to successfully keep pace with their own strategy. According to a study released today by business transformation consultants Moorhouse, 97 per cent of the FTSE 250 board members and direct reports surveyed felt they needed new or additional skills [...]
Where do homes sell fastest in England and Wales? Reading is the hottest place for a property sale February 9, 2016 How long does it take to sell a house? The answer depends on where you live – and location makes a big impact. Home owners in Wales expect to wait three times as long as those in Reading before they can take down that “for sale” sign. With the average house selling in 64 days, [...]
Jobs in tech are the most recession-proof February 9, 2016 Some jobs are more recession-proof than others, but it's jobs in technology which suffered least during the recession as wages in the sector grew more than any other. Wages have rocketed 82 per cent since 2002, rising £15bn in real terms, according to calculations of official figures. Travel agents were the least recession-proof job, with the wage bill plummeting by more than [...]
Skills gap could put brakes on UK’s car manufacturing boom – Automotive Council and SMMT February 9, 2016 The UK's booming car industry, one of few bright patches in the country’s struggling manufacturing sector, is being threatened by a shortage of skills. There are up to 5,000 current vacancies in the automotive industry, according to figures published today by the Automotive Council. Around 19 per cent of the unfilled vacancies were having a significant impact [...]
Think tank Niesr criticises quality of facts in UK immigration debate February 9, 2016 A London think tank has slammed the quality of the debate on immigration, arguing that better facts would improve the discussion. The National Institute of Economic and Social Research (Niesr) showed a short video to focus groups to test the view that public attitudes on immigration are stubborn and based on emotion rather than evidence. One [...]
Gold price breaks $1200 as markets fall and investors fret over the health of the global economy February 8, 2016 Stock market woes and fears over an ailing global economy have given a boost the price of gold, pushing it over the $1,200 line for the first time since June 2015. The yellow metal added to gains made over the last week, it’s best in over two years. The so-called safe haven is often used by investors as a [...]
HM Revenue & Customs (HMRC) has brought in over £2bn from tax avoidance scheme users since a rule change in 2014 allowed it to collect money upfront February 8, 2016 HM Revenue & Customs (HMRC) has collected over £2bn from tax avoidance scheme users since 2014, thanks to a rule change that makes it easier to collect disputed amounts upfront. The UK's tax authority today revealed that its use of accelerated payment notices, which were introduced under the Finance Act 2014, had allowed it to collect cash without [...]
Libor scandal trial: Start of SFO’s third Libor trial delayed as Barclays provides new information February 8, 2016 The Serious Fraud Office (SFO) has today had to postpone the start of its third Libor trial after Barclays, the former employer of those accused, brought new evidence to its attention. The SFO has said that the trial, which was originally scheduled to begin next week on 15 February, may now be delayed until mid-April as [...]
US markets follow Europe downwards as fears mount over global growth February 8, 2016 The US markets have opened lower today, following massive sell offs in Europe that’s seen the German Dax fall over three per cent to under 9,000, and the Greek stock market hit 25 year lows, down 6.7 per cent today, adding to its fifth consecutive day of losses. The Dow Jones Industrial average opened down [...]