Average UK weekly earnings: Wages rise for the first time since 2008 as gender pay gap narrows – while the City of London remains the UK’s highest-paid local authority November 18, 2015 Average weekly earnings rose to £528 in April 2015, up 1.8 per cent from £518 in 2014 – or 1.9 per cent when adjusted for inflation, the first rise since 2008. The Office for National Statistics' annual hours and earnings survey showed the median salary for full-time employees rose 1.6 per cent to £27,600 in April. But where [...]
UK house prices will continue climbing, but don’t expect rates to be hiked as a result November 18, 2015 The housing market has always been key to the UK economy. People who move house often undertake home improvements, and strong demand (in theory) leads to more houses being built, both of which boost GDP. Given the major impact this can have on future interest rates, the UK housing market has traditionally been crucial for [...]
Energy demand to outpace National Grid supply in 2016 – Centre for Policy Studies November 18, 2015 The closure of energy plants across the country means the UK is on the verge of an energy crisis, according to a report published by the Centre for Policy Studies today. Coal-fired plants due to close in March next year mean that the 54,000 megawatts of forecast demand will not be covered by the National [...]
Bond Street is the world’s fourth-most expensive shopping street, after sites in New York, Hong Kong and Paris November 18, 2015 Bond Street is the world’s fourth-most expensive shopping street, with rents of $1,321 (£868) a year per square foot. The northern blocks of New York’s Fifth Avenue, home to the jewellery store made famous in the film Breakfast at Tiffany’s along with Apple’s glass cube and Saks Fifth Avenue, top the chart with yearly rent of [...]
National Living Wage: More than half of employers to feel rising wages’ impact, causing a third to vow to improve productivity levels November 18, 2015 More than half (54 per cent) of employers predict the introduction of National Living Wage will affect their staffing bill, according to research released today by the Chartered Institute of Personnel and Development (CIPD) and think tank the Resolution Foundation. In the survey of 1,037 employers, nearly one in five (18 per cent) said the [...]
2030: A British space odyssey November 18, 2015 THE VALUE of the British space industry has the potential to rocket to £40bn in 15 years, creating 100,000 new jobs in the process, but the government risks holding the sector back with restrictive regulations and insufficient investment, a report out today has warned. The UK's booming space sector is currently growing by around nine [...]
Payroll mishaps cost FTSE 100 companies up to £30m a year November 17, 2015 Payroll slip-ups are costing the average FTSE 100 company between £10m and £30m a year. According to a PwC study of 193 global organisations, which was released today, the increasingly international nature of today’s workforces in particular is creating issues for payroll, as individuals’ statuses need to be tracked across a variety of different tax regimes. [...]
Chinese economy stopped decelerating this month, World Economics business survey shows November 17, 2015 China’s economy is stabilising, according to business survey figures published today, with the manufacturing and services maintaining their growth rates in November after months of deceleration. World Economics’ sales managers’ index posted a score of 51.6, the same score as in October. Any score above 50 signifies expansion, with higher scores marking faster growth. “The [...]
Greece and Eurogroup strike deal on €12bn slice of bailout cash November 17, 2015 Greece has struck a deal with its creditors to unlock €12bn (£8.4bn) to the country, its finance minister announced today. “We have reached agreement on everything, including the 48 additional measures,” finance minister Euclid Tsakalotos told reporters. The funds are expected to paid out on Friday. Jeroen Dijsselbloem, president of the group of Eurozone finance [...]
US inflation rises to 0.2 per cent in October as energy prices halt their decline as core inflation stays at 1.9 per cent November 17, 2015 Annual inflation in the US climbed to 0.2 per cent in October from zero per cent in September as energy prices rebounded and medical costs climbed. Compared with September, the consumer price index – the basket of goods and services used to measure inflation – climbed 0.2 per cent, lifting the annual figure. Energy prices [...]