Strong rule of law needed for steady business, finds report by law firm Linklaters November 9, 2015 The rule of law – essentially, the idea that nobody is above the law – has come under threat in recent years, and could lower the UK’s desirability to do business with, according to a report released today by Linklaters. The magic circle firm’s study, entitled In defence of the Rule of Law, argues that [...]
Executive pay packets now closer aligned to company performance, finds new report by professional services firm PwC November 9, 2015 Bosses’ bumper pay packets have become more reflective of company performance, according to a new report released this morning. In their study, called Sunlight is the best disinfectant, PwC argues that greater transparency has firmer tied executive bonuses to company performance. By examining FTSE 100 companies over the last five years, the audit giant has [...]
UK Christmas sales 2015: Consumer spending soars as retailers worry over upcoming figures November 9, 2015 A double-whammy of sales data has suggested we could be in for bumper Christmas sales figures. Card giants Visa and Barclaycard both report that spending bounced back from a summer slow down in October. Visa’s index found spending growth rose to a three-month high last month, up 2.1 per cent, while Barclaycard revealed spending growth [...]
UK employment statistics 2015: Job vacancies on the rise across London November 9, 2015 Jobs are on the up across a variety of sectors, according to several reports released today. The number of new vacancies in financial services in London rose by seven per cent to 9,480 in October compared to the month before, recruitment consultancy Morgan McKinley found. The figure also represents a 28 per cent increase compared [...]
IMF boss Christine Lagarde tells Gulf states to improve public finances November 8, 2015 Gulf Arab oil states have been given a stark warning to get their government finances under control. At a meeting with finance ministers and central bank governors of the six-nation Gulf Cooperation Council (GCC), International Monetary Fund (IMF) chief Christine Lagarde said governments would have to adapt as economic growth slowed and export revenues stooped in [...]
Pimlico Plumbers founder Charlie Mullins warns UK skills shortage could dent expansion November 8, 2015 The founder of Pimlico Plumbers has warned that the UK lacks the skills needed for the industry's expansion, and that he will soon have to start recruiting from abroad. The London-based company, today reported sales of £5.5m from June to August – it’s quietest time of year – marking a 16.9 per cent climb on [...]
San Francisco Federal Reserve bank president John Williams says interest rate rise “makes sense” November 8, 2015 A top US central banker has said that a gradual increase in interest rates should be the "next step" if the country's economy continues to improve as expected. "I do think it makes sense to gradually remove the policy of accommodation that helped get the economy to where we are," San Francisco Federal Reserve Bank President [...]
Bill Gross says a December rate rise is “100 per cent” likely, after US jobs data exceed all predictions – here’s what other analysts think, too November 6, 2015 "Bond king" Bill Gross thinks a US December rate rise has just become practically certain, after US jobs data beat everyone's predictions. In October, the US added 271,000 jobs to its economy, way ahead of the 180,000 predicted and the highest monthly figure for the year so far. Meanwhile, unemployment fell to five per cent, from [...]
UK trade deficit narrows in September, beating expectations November 6, 2015 What with all the shmoozing David Cameron, George Osborne et al have been doing with various prospective trade partners in recent weeks, this should raise a smile on Downing Street: the UK's trade deficit narrowed by £1.6bn between August and September. Figures by the Office for National Statistics suggested the trade deficit on goods fell to [...]
UK industrial production edges up in second quarter – but manufacturing falls November 6, 2015 Shrugs all round as new figures showed the UK's industrial output edged up just 0.2 per cent between the second and third quarters – although the outlook was rather less encouraging for the manufacturing sector. Figures from the Office for National Statistics suggested the sector – which makes up the biggest component of industrial production – [...]