European stocks soar as European Commission President Jean-Claude Juncker says proposals “good basis for progress” June 22, 2015 European stock markets had a strong start to the week, as renewed optimism about a deal between Greece and its lenders boosted indices. The Cac and the Dax were both up 3.1 per cent at pixel time, while the FTSE 100 was up 1.4 per cent. Stocks in Athens were up more than eight [...]
Small business confidence hits five-year high in the UK June 22, 2015 Britain's small businesses grew solidly over the last three months, according to the latest small business index from the Federation of Small Business. A “robust” improvement in confidence pushed up productivity, job creation and investment at a faster rate than in the economy as a whole. Both investment and growth hit their highest [...]
Greece on the brink ahead of crisis talks June 22, 2015 Greece faces bankruptcy and capital controls within days if Eurozone finance ministers fail to strike a bailout deal at an emergency meeting in Brussels today, the chairwoman of Greece’s largest bank has warned. Louka Katseli, chair of the National Bank of Greece, told City A.M. that without a deal Athens risked a technical default before [...]
George Osborne insists £12bn in welfare cuts will go ahead June 22, 2015 Chancellor of the exchequer George Osborne has said that he will push ahead with plans to cut £12bn in welfare spending, despite previous reports that Conservative party campaign promises would be reined in under the new government. Writing with work and pensions secretary Iain Duncan Smith in The Sunday Times, Osborne said that he would [...]
Top UK business figures Helena Morrissey and Mark Littlewood back calls for EU reform or Brexit June 22, 2015 Several top UK business leaders have backed a new report from Business for Britain (BfB) which states that if Britain cannot establish a new relationship within the EU, it should prosper outside it. Helena Morrissey, of Newton Investment Management and Mark Littlewood, director general of the Institute of Economic Affairs, are among the BfB members [...]
Recruiter says lack of diversity at top firms is hurting UK business June 21, 2015 A lack of ethnic diversity in Britain’s top firms is putting UK companies “at a serious disadvantage,” according to a new report out today. Researchers for recruiter Green Park have identified a widening so-called “diversity deficit,” with the position of ethnic minorities in leadership roles at FTSE100 firms declining over the past year. The report [...]
Jean-Claude Juncker lays out two-year plan for reforms across the Eurozone June 21, 2015 European Commission president Jean-Claude Juncker has set out a decade-long timeline for Eurozone reforms. In a report commissioned by European Union leaders, which involved input from the presidents of the European Central Bank, European Parliament, European Council and Eurogroup, the Commission calls for the completion of the euro area’s economic and monetary union, with “immediate [...]
Consumers are more upbeat on their finances June 21, 2015 Brits are feeling more confident about their personal finances after the General Election, survey data from a major UK bank show. Lloyds Bank’s spending power index climbed to a new high score of 160, according to figures released today. Consumers’ assessment of their current situation, a sub-section of the survey, jumped by 11 points to [...]
Raids on premises treble in HMRC tax evasion crackdown June 21, 2015 The number of raids carried out on premises has trebled in the last four years, as part of government investigations into tax evasion. Almost 600 property raids were carried out this year by HM Revenue and Customs (HMRC), following increased pressure from the government to meet its target of 1,165 tax evasion prosecutions set out [...]
London firms gaining confidence despite warnings over exports dip June 21, 2015 Businesses in London are gaining more confidence despite growing concerns around political and economic uncertainty, but the UK economy is growing unbalanced and too reliant on domestic demand, according to new research out today. The most recent ICAEW/Grant Thornton UK Business Confidence Monitor reveals that the confidence index for London stands at 16.2, up from [...]