Being in the office over Christmas is no fun, say workers, as 84 per cent believe businesses should do more to embrace the spirit of the season December 3, 2015 If you wish you felt more of that festive feeling while at work, you're not alone. A survey by CV-Library shown exclusively to City A.M. discovered that 84 per cent of employees believe businesses should make more of an effort to embrace the Christmas spirit if they cannot shut the office doors for the festive season. Two [...]
Employees really want some extra annual leave, but finance chiefs think they would like more flexible hours December 3, 2015 A few more days off comes top of employees' workplace wishlists, according to a survey released today by recruitment firm Robert Half. When asked what perks they would appreciate the most from their employer, with the caveat that they were not allowed to plump for extra cash, 40 per cent said they would like more annual [...]
UK house prices: Stamp duty reforms have saved homebuyers £1.9bn since last year December 3, 2015 The chancellor’s stamp duty reforms may have added to the bill for high-end homes. But for the vast majority who have bought homes under £1m, the measures have represented huge savings. UK homebuyers have collectively saved £1.9bn since the old slab system was abolished last December and replaced with a more progressive tax system, figures [...]
Landlords opting to be companies after Osborne shakes up buy-to-let with stamp duty hikes and mortgage interest claim caps December 3, 2015 The Chancellor's recent changes to the buy-to-let rules have caused landlords to rush to incorporate. According to figures released today by Kent Reliance, a quarter of the demand for buy-to-let mortgage finance the banking company receives now comes through limited companies. Across the total buy-to-let market, Kent Reliance predicts that 56,800 buy-to-let loans will be issued [...]
Saudi Arabia set to come under fire at OPEC meeting but not expected to back down over production levels December 3, 2015 Smaller nations are expected to put further pressure on Saudi Arabia to reduce oil production levels later today when cartel members meeting in Vienna. OPEC made the historic decision to maintained its production levels last year despite a more than 50 per cent fall in price over the past 18 months. City A.M. understands Saudi Arabia [...]
House price growth to slow across the country in 2016 December 3, 2015 ANNUAL house price growth nationally is expected to slow to between 4 per cent and 6 per cent by the end of 2016, according to economists at the Halifax. The slowdown is being blamed on the increasing difficulty in getting on the housing ladder, as well as the looming prospect of an interest rate rise [...]
UK banks lend £700m to small businesses using government’s funding for lending scheme December 3, 2015 UK banks lent £700m to small businesses between July and September using the government’s funding for lending scheme (FLS), new figures from the Bank of England showed yesterday. The FLS, which was launched in 2012 to incentivise extra lending, was extended by two years to 2018 this week. Lending to small firms contracted in 2014, leading to criticism of FLS, [...]
Star Wars economics: How destroying the Death Star created a financial crisis across the Galactic Empire after Return of the Jedi December 3, 2015 Luke Skywalker, Han Solo and the rest of the Rebel Alliance may have triumphed in defeating the Galactic Empire's overlord Lord Palpatine, but with freedom would have come financial collapse. As government infrastructure projects go, Death Stars are rather pricey. The cost of building two – both destroyed within four years by the end of Return of the Jedi – stands [...]
US ISM non-manufacturing: Business survey shows economy slowing December 3, 2015 The US economy excluding manufacturing lost some momentum in November, according to a survey of firms released today. The Institute for Supply Management's (ISM) purchasing managers' index dropped to a score of 55.9 for last month from 59.1 in October. It is the lowest score since May. Scores above 50 indicate an improvement in business conditions compared [...]
“An exquisitely wrapped lump of coal”: Here’s how economists are reacting to Mario Draghi and the European Central Bank’s decision to introduce further monetary easing December 3, 2015 European Central Bank chief Mario Draghi may have given markets a bit of what they wanted, but in the event it was more of a nerf gun than a bazooka. At a press conference today Draghi said the Bank will extend up its asset purchase programme into 2017, as well as cutting its deposit rate to minus [...]