Wall St ends up with focus on earnings – New York Report October 12, 2015 Gains in utilities offset a retreat in energy shares yesterday, leaving US stocks slightly higher as investors remained nervous about third-quarter corporate results. The Dow Jones industrial average rose 47.37 points, or 0.28 per cent, to 17,131.86, the S&P 500 gained 2.57 points, or 0.13 per cent, to 2,017.46 and the Nasdaq Composite added 8.17 [...]
London Living Wage: The best and worst boroughs for paying living wages October 12, 2015 Fewer jobs in London pay above the Living Wage than five years ago, but jobs in the capital are more likely to pay the wage than those outside. Between 2008 and 2010, jobs paying less than the £8.80 living wage in London accounted for 13 per cent of all jobs in the city. By 2014, [...]
London house prices: Why fried chicken is a useful guide to where to invest in property October 12, 2015 The Coffee: Fried Chicken Shop Index started quite literally as a joke, forming part of a stand-up comedy routine I did. But the results highlight a wider aspect of the London property market, and one which many may have subconsciously considered when walking the streets of the city. When looking to invest in a particular property and, [...]
London house prices: Why Canary Wharf is experiencing a residential property boom October 12, 2015 Estate agents are reporting a small “property boom” in east London, with prices rising by nearly 15 per cent in some areas during the first half of this year. In a new report out this week, Chestertons, an estate agent, points to the success of London’s technology, creative and financial sectors to explain the jump [...]
UK household spending has a soft September – Visa October 12, 2015 UK shoppers tapered their spending last month, according to new figures published today by a credit card giant. Visa’s consumer spending index – which looks at total spending, not just that on credit cards – showed spending post a lift of 1.8 per cent in September compared with the same month last year. Despite the gain, [...]
UK private sector pay is growing at its fastest rate in 15 years – Resolution Foundation October 12, 2015 Pay in the private sector is likely to be growing at its fastest pace in 15 years, a think tank has said today. The Resolution Foundation believes workers’ pay packets – once inflation has been taken into account – will have grown between 3.4 and 3.6 per cent in the three months to August when [...]
London professional jobs market has slow start to autumn – Morgan McKinley October 12, 2015 London's professional jobs market came off the boil last month, but there are signs of activity picking up and pay growth remains robust. The number of jobs of available fell 14 per cent in September compared with August, data from recruiter Morgan McKinley reveals today. However, the number of jobs available is up 12 per [...]
UK economic growth lost momentum in September – Lloyds Bank October 12, 2015 The UK saw a nationwide loss of momentum in its economic growth in September, according to survey figures from a major bank released this morning. Lloyds Bank’s purchasing managers’ index – a survey of firms – dropped to a score 53.8 in September from August’s 55.7. While it is above 50 and so implies business [...]
First-time home buyers are being priced out of UK cities – Countrywide October 12, 2015 Renters are looking further afield for their first property as housing affordability in cities begins to bite, research from the UK’s largest estate agency group reveals this morning. To get on the first rung of the housing ladder, 36 per cent of London renters end up buying outside the M25, up from 21 per cent [...]
Oil firm Ineos goes on a shopping spree for DEA’s North Sea assets October 11, 2015 Ineos has agreed to purchase all of the UK North Sea gas fields owned by Russian billionaire Mikhail Fridman’s DEA Group. The deal comes only weeks ahead of a deadline set by the government in April for DEA owner investment firm LetterOne to dispose of the oil and gas fields it bought from German utility [...]