Alexis Tsipras faces backlash as bankers insist euro would not be harmed by Grexit June 8, 2015 World leaders piled pressure on Greece yesterday by calling for the indebted country to accept unpopular reforms, with Prime Minister Alexis Tsipras striking an increasingly isolated figure. From the picturesque alpine resort that played host to this week’s G7 meeting, US President Barack Obama and German Chancellor Angela Merkel insisted that Greece must accept tough [...]
Total cash spent at UK retailers is on the climb June 8, 2015 UK retail sales are ticking upward with evidence that confidence is rising, as consumers spend more on big-ticket items. Total spending at retailers grew by 1.8 per cent in the three months to May compared with the same period last year, according to figures published today by the British Retail Consortium (BRC) and financial services [...]
UK’s skills shortage will get worse if we leave EU, says Manpower boss James Hick June 8, 2015 Britain must stay in the EU to avert a skills crisis in sectors from finance to the NHS, the boss of recruitment firm Manpower told City A.M. yesterday. James Hick said firms are already seeing a shortage of suitable workers and will rely very heavily on the free movement of people within the EU. “It [...]
EU referendum: Is the UK the most Eurosceptic country in Europe and where can David Cameron find support for reform? June 8, 2015 The UK’s position in Europe is looking ever more tenuous, as the UK gears up for an EU referendum before the end of 2017. Greece is currently flirting with an exit and sentiment across the continent has been affected by the crisis, while the UK is famously divided on the issue. So is the UK [...]
Turkish stocks fall as lira tumbles following election result June 8, 2015 Turkish stocks fell more than eight per cent as the market opened, after voters gave a decidedly cool reception to the AK Party, which lost its parliamentary majority in the country after 13 years. The Turkish Borsa 100 later regained some of its losses, although it was more than six per cent down in early [...]
Low yacht inflation is helping billionaires boost their net worths during a “golden era” akin to Victorian times June 8, 2015 Negligible inflation may be helping the average shopper splurge more cash down the supermarket, but when it comes to billionaires it is helping pave the way for relatively cheaper yachts, luxury homes and staff. The average European billionaire has seen their wealth increase by 11.9 per cent in the last year, taking their net [...]
London firms’ expansion slows amid broader decline in growth June 7, 2015 London businesses are growing steadily despite the rate of growth slipping to a five-month low in May, new survey figures show. A business activity purchasing managers’ index compiled by Lloyds Bank dropped to a score of 57 for London from April’s 60.2, according to data published today. Scores above 50 indicate an expansion [...]
Commodity and currency desks lead rapid growth in City hiring as job numbers rise June 7, 2015 City job creation is on the climb thanks to a revival in hiring on banks’ fixed income, commodities and currencies trading desks (Ficc). There were 4,100 new City roles created in May, up 52 per cent on the same month last year, according to figures released today by recruiters Astbury Marsden. It also marks a [...]
Air passengers in UK face highest flight taxes across entire world June 7, 2015 Brits flying off on long haul holidays this summer will pay nearly £50 more tax than travellers from other G7 nations, a new ranking of air passenger levies has found. UK travellers will pay £71 each in tax for a long haul economy flight, compared to an average £23 levied in France, Germany, Italy, Japan [...]
UK house prices: Building new properties doesn’t drive down prices, study shows June 7, 2015 Building new properties doesn't drive down house prices, according to a study by the London School of Economics. By looking at the price impacts of a series of Barrat Homes developments in suburbs and villages over the past five years, the researchers found no evidence of a price depreciation. In fact, in some cases [...]