Banking is less of an old boys’ club but there’s still work left to do to improve diversity in the industry November 19, 2015 A report released today has praised the banking industry for its efforts to improve diversity but cautions that there is still more to do. In particular, the British Bankers’ Association (BBA) paper highlights that 31 per cent of board directors at FTSE 100 banks are women, compared to 26 per cent for FTSE 100 companies overall. [...]
ECB minutes: Bigger Eurozone QE programme now looks like ‘done deal’ November 19, 2015 The European Central Bank considered expanding its €1.1 trillion (£770bn) quantitative easing (QE) programme at its October meeting, new minutes reveal. The meeting, on the 22 October, saw the ECB’s main policy rate kept unchanged at a record low of 0.05 per cent. QE is where the central bank buys assets using newly created money – it [...]
Manufacturing outlook deteriorates as export orders drop to three-year low – CBI industrial trends survey November 19, 2015 Manufacturers’ export orders are at the lowest for three years, new figures show, dashing hopes that an economic recovery in the Eurozone would provide a boost to the UK’s exporters. The survey of 458 firms from the Confederation of British Industry (CBI) revealed that only 11 per cent said their export order books were above [...]
HSBC: UK homeowners are losing £29bn a year by not remortgaging November 19, 2015 Brits are losing a massive £29bn by not remortgaging onto better deals, a leading lender has said. With mortgage rates currently hovering around record lows, HSBC has calculated that homeowners who have not remortgaged onto a lower fixed rate from their standard variable rate (SVR) are losing an average of £4,000 a year. The SVRs [...]
UK house prices: Mortgage lending is steaming ahead at its fastest pace since 2008, says the Council of Mortgage Lenders November 19, 2015 Mortgage lending is in full recovery mode. The amount of mortgage lending shot up eight per cent in October compared with September to £21.8bn, according to figures published by the Council of Mortgage Lenders (CML) today. October was the biggest month for mortgage lending since July 2008 and takes annual mortgage lending growth to a whopping [...]
The great investment debate: Should you put your money in active or passive funds? November 19, 2015 The great investment debate typically pits passively managed funds against their actively managed counterparts. Passively managed funds give investors low-cost risk exposure without the added worry of assessing a fund manager's skills, while actively managed funds come with fees, which eat into their overall returns, but allowing fund managers to trade through market volatility to weather storms like [...]
Black Friday 2015 UK: Sharp drop in retail sales in October as shoppers gear up for the mega deals day and Cyber Monday November 19, 2015 UK retail sales dropped steeply in October as the hype surrounding the Rugby World Cup died down and shoppers kept cash aside to snap up some Black Friday bargains on the 27th November. The amount spent at retailers dropped 0.7 per cent on the month while the volume of goods bought was down 0.6 per cent, according to [...]
UK climbs one position to 15th place in a ranking of effective business tax systems, but drawn-out compliance times stop it from placing higher November 19, 2015 The UK has claimed 15th place in a ranking of countries with effective business tax systems, climbing up one position from last year, according to a report published today by the World Bank Group and professional services firm PwC. The league table, which assesses countries on how easy it is to pay taxes based on [...]
UK entrepreneurs have put in over £240bn in after hours economy November 19, 2015 The UK’s entrepreneurs are a hard working bunch, and it shows in their contribution to the global after-hours economy. Combined, they have added at least £240bn in hours worked beyond the norm, with 38 per cent routinely working more than a 40-hour week, according to research by Sage. The main drivers of hard work were [...]
SMMT: UK car manufacturing hits 10-year-high as car makers keep the pedal to the metal November 19, 2015 Car manufacturing in the UK has hit highs not see for a decade, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). From the beginning of the year through to the end of October, production volumes were recorded to be at their highest levels since 2005, with 36,000 more units made this [...]