UK inflation falls back to zero as Britain returns to “noflation” territory July 14, 2015 The falling price of clothes and food meant that Britain's consumer price index slipped back to zero last month, from a 0.1 per cent increase in May, and coming in line with economists' expectations. Figures released today by the Office for National Statistics showed clothing and footwear prices fell by 0.4 per cent in the [...]
Greece missed another IMF payment last night July 14, 2015 Raising virtually no eyebrows at all, the International Monetary Fund (IMF) announced last night that Greece has missed another payment – this time of about €456m (£323.9m). Lest we forget, Greece is already in arrears to the IMF, to the tune of €1.6bn, after it missed a payment at the end of June. A statement [...]
Greek PM Alexis Tsipras faces backlash to proposed bailout package as civil servants’ union calls for 24-hour strike July 14, 2015 Greek prime minister Alexis Tsipras hailed the "message of democracy" his country had sent in reaching a bailout agreement with its creditors, but already it's become clear not everyone back home shares his view. Just as he touched down in Athens to round up the votes needed to pass required reforms into law, Greece's civil [...]
Top UK firms to reveal wages for male and female employees as David Cameron vows to “end gender pay gap” July 13, 2015 Large companies will soon be required to publish what they pay male and female employees, under new rules to be announced by Prime Minister David Cameron today as part of a commitment to “end the gender pay gap in a generation”. The rules will apply to companies with more than 250 workers. A consultation with [...]
Grek debt crisis: Alexis Tsipras now faces scrap in Athens over new deal July 13, 2015 Embattled Greek Prime Minister Alexis Tsipras is facing a backlash from supporters after accepting the broad terms of a new bailout deal. The agreement requires Greece to undertake more reforms and austerity in return for cash, despite the country rejecting such a deal in a national referendum just over one week ago. Workers from the [...]
Oil prices drop as nuclear deal with Iran looms July 13, 2015 Oil prices were stuck below $60 yesterday and with an Iranian nuclear deal in the offing could fall further again in the near future. Talks between Iran and Western powers were due to end last night, and officials said yesterday that a deal aimed at ending sanctions on the Middle Eastern country in return for [...]
Greek debt crisis: From its €50bn fund of government assets to its bridge financing arrangements, today’s Greek deal in numbers July 13, 2015 After six months (which culminated in a tense-sounding 17-hours), Greece has finally reached a deal with its lenders which should, eventually, help to unlock bailout funds for the country. Read more: Greece deal – here's why the euro has dropped But how much is this going to cost Greece – and its lenders? Here are the [...]
Jeroen Dijsselbloem reappointed as Eurogroup head July 13, 2015 Dutch finance minister Jeroen Dijsselbloem has been reappointed as the head of the Eurogroup for another 2.5 years. Read more: Tsipras – "Greece will continue to fight" Dijsselbloem faced competition from Spanish finance minister Luis de Guindos, but in a statement the European Council said: "The decision was unanimously supported by all Eurogroup members." The Eurogroup, [...]
Greek debt crisis: Referendum spurs Greek job hunters to search abroad… and the UK is a favourite July 13, 2015 The prospect of a Grexit has caused a massive spike in the number of people looking for work outside of Greece, particularly among highly skilled workers. The country experienced a surge in citizens searching for jobs abroad as its debt crisis deepened and the referendum was announced, data from job website Indeed reveals. The share [...]
Worst sectors for boardroom diversity: Women joining FTSE 100 boards but mining lags far behind retail industry as Conservatives push to end gender pay gap July 13, 2015 More women are joining the boards of Britain’s most powerful companies, but there’s a big difference between different industries, a breakdown by sector reveals. In a bid to end the gender pay gap "in a generation”, Prime Minister David Cameron announced plans today to require UK firms to publish gender pay audits. But progress is [...]