Tax return deadline day looms, and HMRC reveals the 10 worst excuses it has received for filing late which did not avoid that £100 late filing penalty January 15, 2016 Tax return deadline day is looming and, while it may seem tempting to concoct an elaborate excuse rather than knuckle down with your paperwork before 31 January, it’s highly recommended that you don’t. Not only could a late return land you with a £100 fine, you could also find your not-so-wise words taking a place in [...]
Greece accepts IMF role in bailout programme as Eurogroup takes stock of progress January 14, 2016 The Greek government has accepted that the International Monetary Fund (IMF) will be part of its new bailout. Prior to a Eurogroup meeting – a meeting of Eurozone finance ministers – Dutch finance minister Jeroen Dijsselbloem told reporters that his Greek counterpart Euclid Tsakalotos "confirmed to me that the Greek government accepts that the IMF needs to be part [...]
European Central Bank minutes reveal strong split on decision to boost stimulus January 14, 2016 European Central Bank (ECB) officials were divided on the decision to boost stimulus measures in their December meeting, details of the decision published today reveal. The minutes of the meeting revealed some members of the governing council thought the recovery was well underway and that further easing would come with negative side effects. On the day, [...]
Financial services industry loses confidence in the UK’s economic outlook, as Brexit, debt and austerity weigh heavily on people’s minds January 14, 2016 The financial services industry’s level of confidence in the UK’s economic outlook has dropped off. In a survey released today by the Chartered Institute for Securities & Investment (CISI), 33 per cent said they felt more optimistic about the UK’s outlook compared to six months ago while 27 per cent said they felt more negative, [...]
Davos 2016: As technology absorbs our mundane and routine tasks, we must realise our own higher calling January 14, 2016 Today, bits are reshaping the atoms around us. Emerging technologies in artificial intelligence, deep neural networking, and machine learning enable us to reimagine the possibilities of human creativity, innovation and productivity. Research institutions, businesses and governments explore the great new frontiers of human possibility. So many of our systems have evolved beyond what we thought [...]
Brent and WTI crude: Oil prices steady after new year sell-off January 14, 2016 Oil prices steadied today, following a brutal new year sell-off which pushed the black stuff to 12-year lows. Brent crude, the global benchmark, rose 0.6 per cent to $30.49 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, jumped 1.4 per cent to $30.90 per barrel. Oil prices have shed nearly 20 per cent since [...]
US Federal Reserve’s James Bullard airs concern over drop in inflation expectations January 14, 2016 A recent decline in US expectations of inflation is "worrisome" and may delay inflation returning its two per cent target, according to one US rate-setter. “Headline inflation will return to target once oil prices stabilise, but recent further declines in global oil prices are calling into question when such a stabilisation may occur,” said James Bullard, president [...]
Corporate governance standards among UK companies stay high, as regulator says its code will not be substantially amended for the next three years January 14, 2016 The overall quality of corporate governance among UK companies remains high, as the regulator vows not to make any major changes to its code for the next three years. According to a report published today by the Financial Reporting Council (FRC), 90 per cent of FTSE 350 companies are complying with all but one or [...]
Bank of England monetary policy committee votes 8-1 to hold interest rates as it cuts economic growth, inflation forecasts January 14, 2016 The Bank of England's rate-setting committee held interest rates at historic lows, while it cut forecasts for economic growth and inflation. The monetary policy committee (MPC) voted 8-1 in favour of keeping the benchmark interest rate at 0.5 per cent, with lone hawk Ian McCafferty staying in favour of a rate rise despite a darkening global [...]
UK immigration: International students put £2.3bn into the London economy January 14, 2016 The contribution of foreign students to London’s economy is “overwhelmingly positive,” according to a report by London First. The report, entitled “London Calling: International students’ contribution to Britain’s economic growth,” goes some way to debunking fears about international students overstaying their welcome and their cost to the national coffers. What is more, the report contradicts [...]