FTSE falters as Draghi drags on Europe markets – London Report December 4, 2015 THE FTSE 100 index closed lower yesterday, alongside other European indices, after the European Central Bank’s (ECB) measures disappointed markets. The index closed down 2.27 per cent, at 6,275 points, while the German Dax ended 3.58 per cent lower at 10,789.24 points and France’s Cac 40 also finished 3.58 per cent down at 4,730.21 points. [...]
Mario the Grinch ruins Santa rally: Draghi disappoints investors with ECB rates cut December 4, 2015 European stocks dropped and the pound sank against the euro yesterday after chief Eurozone rate-setter Mario Draghi disappointed investors who had banked on a bumper Christmas. After months of talking up extra stimulus, Draghi cut the interest rate paid on deposits kept at the European Central Bank (ECB) to minus 0.3 per cent compared with [...]
Public Accounts Committee report: MPs warn Ministry of Defence that there is still more to do stabilise its budget December 4, 2015 The Public Accounts Committee (PAC) urged the Ministry of Defence (MoD) to further safeguard the stability of its budget in a report out today. The report is in response to an inquiry into the steps the MoD had taken to plug a £38bn gap between the funding the department expected and the costs forecast for defence [...]
Zero hours contracts are not all bad, as staff report being just as satisfied as their permanent, full-time counterparts December 4, 2015 Staff on zero hours contracts are just as contented with their work as their permanent, full-time counterparts. According to research released today from the Chartered Institute of Personnel and Development (CIPD), 65 per cent of zero hours staff said they were either satisfied or very satisfied with their jobs, compared to 63 per cent of employees overall. [...]
UK house prices: repossessions drop by 55 per cent as north-south divide narrows December 4, 2015 Home repossessions have dropped by 55 per cent year-on-year across England & Wales, new figures released today show, thanks to the ongoing economic recovery. The gap between home repossessions in the north and south has also narrowed by 80 per cent since the recession to 1.1 per 1,000 households in the north compared 0.7 per [...]
Being in the office over Christmas is no fun, say workers, as 84 per cent believe businesses should do more to embrace the spirit of the season December 3, 2015 If you wish you felt more of that festive feeling while at work, you're not alone. A survey by CV-Library shown exclusively to City A.M. discovered that 84 per cent of employees believe businesses should make more of an effort to embrace the Christmas spirit if they cannot shut the office doors for the festive season. Two [...]
Employees really want some extra annual leave, but finance chiefs think they would like more flexible hours December 3, 2015 A few more days off comes top of employees' workplace wishlists, according to a survey released today by recruitment firm Robert Half. When asked what perks they would appreciate the most from their employer, with the caveat that they were not allowed to plump for extra cash, 40 per cent said they would like more annual [...]
UK house prices: Stamp duty reforms have saved homebuyers £1.9bn since last year December 3, 2015 The chancellor’s stamp duty reforms may have added to the bill for high-end homes. But for the vast majority who have bought homes under £1m, the measures have represented huge savings. UK homebuyers have collectively saved £1.9bn since the old slab system was abolished last December and replaced with a more progressive tax system, figures [...]
Landlords opting to be companies after Osborne shakes up buy-to-let with stamp duty hikes and mortgage interest claim caps December 3, 2015 The Chancellor's recent changes to the buy-to-let rules have caused landlords to rush to incorporate. According to figures released today by Kent Reliance, a quarter of the demand for buy-to-let mortgage finance the banking company receives now comes through limited companies. Across the total buy-to-let market, Kent Reliance predicts that 56,800 buy-to-let loans will be issued [...]
Saudi Arabia set to come under fire at OPEC meeting but not expected to back down over production levels December 3, 2015 Smaller nations are expected to put further pressure on Saudi Arabia to reduce oil production levels later today when cartel members meeting in Vienna. OPEC made the historic decision to maintained its production levels last year despite a more than 50 per cent fall in price over the past 18 months. City A.M. understands Saudi Arabia [...]