Here’s how much alcohol abuse and hungover employees cost the economy October 16, 2015 Inebriated employees who opt to stay out on a school night can cost an economy billions. The US economy lost about $249bn (£160bn) in 2010 due to the effects of excessive alcohol consumption, with binge drinking accounting for $191.1bn, or 76.7 per cent, of this. This was due to lost productivity, healthcare and other factors such as crime. But the effect of a [...]
Map: UK house prices are still below 2007 peak in Wales, the North and southern Scotland – but have soared past them in London, Bristol, York and Manchester October 16, 2015 London’s house prices may have surged well beyond the prices of the last property boom, but that’s hardly true of the whole country. Looking at average house prices today against what they were eight years ago shows prices are still below their 2007 peak in about half the country. The map of England, Scotland and [...]
Ministers, companies and unions descend on Rotherham for UK steel crisis summit October 16, 2015 Ministers, representatives of producers and unions have descended on Rotherham for a crisis meeting over the UK's remaining steel industry. The summit comes a day after the final closure of the SSI steelworks in Redcar, announced last month, which caused the loss of 1,700 jobs. The government said today's summit will address the "challenging conditions" facing the market, after [...]
London property prices: City rents rocketing as estate agent warns the only way is up October 16, 2015 London rents reached a record high in September after rising 11.6 per cent over the last year, according to new figures released this morning, with agents warning that the only foreseeable trend is an upward one. Rental price growth in the capital was far higher in September than the UK average of 6.3 per cent, the [...]
Treasury’s U-turn plugs brain drain fears: City bosses welcome “reverse burden of proof” retreat October 16, 2015 City bosses have welcomed the Treasury’s U-turn on controversial plans for a so-called “reverse burden of proof” for senior bankers, saying that the reversal will help the Square Mile retain and attract top talent. A leading City head-hunter told City A.M. that the Treasury’s initial proposals, which would have required bankers to prove they were unaware [...]
Could Crossrail be creating skills shortages in parts of Britain? Recruiter Randstad thinks so October 16, 2015 Crossrail could be to blame for skills shortages in certain parts of Britain, according to a new report out today from Randstad CPE, the specialist recruiter. Randstad says that more than a quarter of Crossrail’s workforce is drawn from regions more than 30 miles away from the project, with one in 20 moving more than [...]
European firms are too reliant on big banks, according to EY and TheCityUK October 16, 2015 Europe's financial stability could be at risk due to a lack of understanding about alternative forms of finance, a new report out today from EY and TheCityUK has warned. The report argues that the scarcity of information on alternative finance not only could this hinder firms’ future growth potential, but also leave businesses exposed in [...]
US deficit narrows to smallest level since 2007 October 15, 2015 The United States budget deficit has fallen to 2.5 per cent of gross domestic product, narrowing to its smallest level since 2007. The government's deficit, which is a measure of how much the government has spent against what it raised in taxes, shrunk to $439bn (£283.6bn) in the 12 months to the end of September, from [...]
Record number of tourists flock to London between April and June, spending £3.2bn October 15, 2015 The capital welcomed a record 5.1m tourists between April and June this year, continuing London’s five-year tourism boom. The number of international visitors to London was up six per cent on the same period last year, according to the figures published by the Office for National Statistics today. The total spent in the capital by tourists [...]
London house prices: The property rental market is being haunted by ghost-listings October 15, 2015 The crazy London property market has created another spectre that will leave renters with a chill down their spine. The letting market is being haunted by ghost-listings – ads for properties to rent that don't really exist. Eerily reminiscent of ghost gazumping which plagued house buyers last year, some estate agents (as if they weren't despised enough) are listing details of properties they've nicked [...]