UK gin exports could seriously rival the £4bn a year whisky industry August 10, 2015 Forget Don Draper brooding over a glass of whisky, it's now all about the spirit housewife Betty Draper was more likely drowning her sorrows in, perhaps with a gimlet or a G&T. Exports of gin have risen by more than a third within the last five years, hitting almost £400m in 2014, but now the [...]
Russian economy contracts 4.6 per cent in second quarter August 10, 2015 Another bad day for the Russian economy, after figures published today showed it contracted 4.6 per cent in the second quarter compared with a year earlier, missing even analysts' pessimistic expectations of a 4.5 per cent contraction. Although the contraction was larger than feared, the fact GDP fell hardly came as a surprise: with the [...]
Greek debt crisis: Greek bank stocks rise as bailout talks progress August 10, 2015 Greek bank stocks have risen as the country comes closer to agreeing a third bailout worth €86bn (£60.8bn) with international creditors. Banks have risen to the top of the Athex Composite Index, with Piraeus Bank trading up 6.94 per cent, Alpha Bank rising 4.1 per cent, Eurobank climbing 1.79 per cent and the National Bank [...]
Think tank Institute for Public Policy Research says government needs to support low-skill sectors to solve the productivity puzzle August 10, 2015 As concerns over UK productivity linger on, think tank the Institute for Public Policy Research (IPPR) has suggested one way to solve the so-called "productivity puzzle" is for the government to focus on low-skill sectors such as retail and service. The IPPR’s chief economist Tony Dolphin said despite the government targeting support at highly skilled [...]
Supermarket sales slide into reverse as price war hits petrol pumps August 10, 2015 A fierce supermarket price war at both the tills and the petrol pumps has caused sales in the sector to shrink for the first time since records began over 20 years ago. With retailers kicking off another round of petrol price cuts today, fresh data shows how supermarket giants’ troubles are dragging on the UK’s [...]
Gender equality group to set pay target for female FTSE 100 execs August 10, 2015 The government-backed committee charged with promoting greater gender equality among UK companies is considering targeting earnings as its next campaign issue. The Davies Review is looking into ways to push the gender equality agenda forwards, after UK firms reached its original target of appointing women to 25 per cent of FTSE 100 board positions earlier [...]
Frackers urge Whitehall: Fast track our plans August 10, 2015 Fracking companies yesterday urged the government to press forward with plans to fast-track their applications following an intervention by Amber Rudd, the energy secretary. Rudd’s colleague at the ministry, Andrea Leadsom, echoed the secretary of state’s support for fracking, telling City A.M.: “We are exploring ways to really kickstart the industry as we know it [...]
Top banks could face millions in new PPI claims over commission August 10, 2015 Britain’s top banks are facing further fall out from the mis-selling of payment protection insurance (PPI). The latest potential threat comes from a case brought by lecturer Susan Plevin, over a loan and PPI policy taken out in 2006. She was unaware that more than 70 per cent of the commission she paid on the [...]
Employers turn to graduates as skills shortages bite August 10, 2015 Businesses are turning more towards graduates and apprentices to fill their skills gaps, new survey figures reveal this morning. Apprentices are currently seen as the best way to fill skills gaps by 33 per cent of employers, according to the Chartered Institute of Personnel and Development (CIPD). It marks a climb on spring 2014’s 22 [...]
Philip Hammond says migrants hit EU living standards and demands clamp down on African immigration August 10, 2015 Foreign secretary Philip Hammond claimed yesterday that European living standards are at risk unless the continent clamps down on immigration from Africa. Speaking in Singapore, Hammond said: “So long as the European Union’s laws are the way they are, many of them will only have to set foot in Europe to be pretty confident that [...]