Eurozone construction rebounds in October December 17, 2015 Construction in the Eurozone bounced back in October, according to new figures published this morning, but the sector is struggling to pick up momentum. The currency-bloc’s construction output climbed 0.5 per cent in October compared with the month before. The monthly gain took year-on-year growth to 1.1 per cent. It also marks a rebound from [...]
UK manufacturing output declines in final three months of the year as pessimism grows over 2016 December 17, 2015 Output from UK factories declined over the last the three months, with many expecting further weakness in early-2016, according to a business survey published today. The Confederation of British Industry’s industrial trends survey showed 27 per cent of firms reporting output had fallen over the past three months, compared with 24 per cent where output had gone [...]
How much do barristers earn? Much less than you’d think if they’re working on Crown Court legal aid cases December 17, 2015 Barristers working on certain legal aid cases could find themselves pocketing less than the average wage and far less than their similarly educated peers in other professions, the Bar Council warned today. The remarks are based on a report released today from the Ministry of Justice about junior barristers' wages, which discovered the lawyers working regularly on [...]
Mortgage lending leaps as buy-to-let investors rush to buy December 17, 2015 November’s mortgage lending figures rose 23 per cent on last year, showing signs of a stabilising recovery in the housing market, figures published this morning showed. The Council of Mortgage Lenders' (CML) November report showed gross mortgage lending rose to £19.9bn last month, nine per cent lower than October, but up on last November's £16.1bn. Mohammad [...]
HMRC is failing to answer its phones and is not doing enough to tackle tax fraud December 17, 2015 No matter how bad your commute has been, your morning is still probably better than that of HM Revenue & Customs (HMRC) – after two separate reports highlighting the UK tax authority's shortcomings were released today. The National Audit Office (NAO) concluded that, while taxmen and women had come a long way in their compliance efforts, there [...]
Work longer, live better: Our attitude to employment must change if we’re to have a healthy later life December 17, 2015 As a society, we must better recognise that “work” does not just provide people with financial rewards but also important social benefits, and helps contribute to a healthier and happier later life. Figures shared recently by pensions minister Baroness Altmann show that only half of the population aged 50-64 are still in work in some [...]
British car manufacturing rose by 9.3 per cent last month – SMMT December 17, 2015 Britain’s car manufacturing industry delivered a strong performance in November as output rose. Manufacturing rose 9.3 per cent in November, industry body the Society of Motor Manufacturers and Traders (SMMT) reports today, revealing that 150,084 vehicles were built during the month, up from 137,347 this time last year. Mike Hawes, SMMT chief executive, said: “November’s [...]
US markets welcome Fed rate rise as analysts applaud smooth landing for Janet Yellen’s announcement December 17, 2015 The US central bank finally hiked interest rates for the first time since 2006 last night in a highly-anticipated move marking “the end of an extraordinary period.” US stock markets welcomed the move, with the S&P 500 jumping 1.45 per cent as the Federal Reserve lifted its main policy rate 0.25 percentage points from record [...]
The Help to Buy mortgage guarantee scheme is boosting high loan-to-value lending December 17, 2015 The government's Help to Buy mortgage guarantee scheme, which offers greater protection for lenders, is boosting high loan-to-value (LTV) lending, according to new figures released today. The number of mortgage deals offering loans equal to 95 per cent of the value of a property climbed to 260 in November, the data from mortgage insurer Genworth [...]
London house prices to reach £931,000 by 2025, more than double the UK average December 17, 2015 Just when you thought the housing market couldn’t get hotter: the average London house price is set to reach £931,000 by 2025. UK house prices are set to rise by 50 per cent, while rents will increase by more than 25 per cent by 2025, according to the Association of Residential Letting Agents (ARLA) and National [...]