UK income tax haul from non-doms has risen 7 per cent and hit £6.6bn last year August 31, 2015 The amount of income tax paid by so-called “non-doms” based in the UK has risen by seven per cent, according to a new report out today from Pinsent Masons, the global law firm. According to the report, non-doms – individuals claiming certain tax benefits because their permanent home is outside of the UK – [...]
Card spending via contactless jumps to £2.5bn in the UK as the payment limit rises to £30 August 31, 2015 The spending limit on contactless cards has today increased from £20 to £30, as new figures show a surge in spending to £2.5bn in the first six months of the year. The use of contactless technology to pay in restaurants and shops has soared in popularity since it was first introduced in 2007, when [...]
German retail sales accelerate to beat forecasts with 3.3 per cent growth August 31, 2015 German retail sales beat expectations, gaining 3.3 per cent year-on-year despite eurozone confidence being shaken by the Greek debt crisis. Economists were forecasting a growth of just 1.7 per cent so Germany’s bullish sales figures come close to doubling expectations. Monthly figures showed retail sales jumping by 1.4 per cent from June to July, according [...]
Bank of England interest rate rise threat sends first-time buyer sales to a pre-recession high August 28, 2015 The threat of a rise in borrowing costs led first-time buyers to look through increased deposit costs and indulge in a "summer of white-hot activity" with completed transactions hitting a pre-recession high. Monthly first-time buyer sales rose 4.9 per cent to 29,700 in the month to July, according to an index by estate agents Your Move and [...]
Black Monday: £74bn knocked off FTSE 100 as markets respond to deteriorating China outlook August 28, 2015 The UK’s 100 biggest companies had £74bn wiped off their value today after a worsening outlook in China hit global stock markets. The FTSE 100 had lost 4.67 per cent by the time markets closed, nosediving below the 6,000 mark to 5,898.9. China led the global sell-off with the Shanghai composite index plunging 8.49 [...]
Brazil’s economy pummeled anew on tumbling commodities August 28, 2015 Brazil’s economy took another beating, as quarterly GDP figures showed the country’s economy shrinking at the fastest pace since 2009. Tumbling commodity prices and a corruption scandal are both weighing on the troubled South American powerhouse, as data released by government agency IBGE showed the country’s economy contracting by 1.9 per cent over the last [...]
UK GDP second estimate: UK exports jump as GDP growth stays flat August 28, 2015 A sharp upward revision to US second-quarter GDP yesterday sent markets around the world higher. Alas, data out of the UK was a little more muted. Official statistics released today confirmed Britain's economy grew 0.7 per cent in the second quarter of this year. However, economists said that the underlying data shows some rebalancing in the [...]
Say what? Greek GDP revised up to 0.9 per cent August 28, 2015 Well, here's a line we didn't expect to hear this year: growth in Greece has been revised up to 0.9 per cent in the second quarter. That's better growth than the UK achieved… The figure was revised up from an initial reading of 0.8 per cent growth, which was itself seen as pretty optimistic – [...]
Swiss economy grows at 0.2 per cent in second quarter of 2015 as private spending offsets a strong Swiss franc August 28, 2015 The Swiss economy grew 0.2 per cent in the second quarter of 2015 – meaning the country has narrowly missed sliding into recession. Economists had expected a contraction of 0.1 per cent, which would have caused the country to slide into recession. In the first quarter of 2015 the economy shrank 0.2 per cent. But [...]
Oil prices keep rising – just in time for the great bank holiday getaway (but the good news is Morrisons and Sainsbury’s have cut petrol prices) August 28, 2015 After Brent crude made its biggest one-day gain in six and a half years yesterday, rising more than 10 per cent to $47.56 per barrel, it looks like oil prices are continuing to rise today – just in time for the great bank holiday getaway. This morning Brent crude was up more than one per [...]