George Osborne’s national living wage under attack September 10, 2015 The government's new national living wage (NLW) will offer little relief to workers, according to a new report by the Institute for Fiscal Studies (IFS). The IFS said any benefits for employees on the new minimum wage would barely offset the negative impact of other changes proposed by chancellor George Osborne to the tax [...]
European Commission President Jean-Claude Juncker wants the Eurozone to have its own Treasury September 9, 2015 European Commission President Jean-Claude Juncker thinks that the single currency area should have a common system of guaranteeing bank deposits, as well as its own treasury. "We are also in favour of introducing a European treasury… Obviously there will be a lot of work to be done on the content of it, but I think it [...]
Association of Graduate Recruiters: Record number of graduates are being hired September 9, 2015 Britain's graduate job market is booming, with record numbers being hired this year, according to an annual survey of the country's biggest recruiters. The association of graduate recruiters' (AGR) annual survey said that more university leavers are being hired than ever before, with a 13.2 per cent rise in graduate vacancies for 2014-15. Accounting and [...]
Apple share price drop following iPhone 6S launch and oil sees Wall St end down – New York Report September 9, 2015 US shares ended almost 1.5 per cent lower on yesterday, after rallying the day before, led by declines in Apple shares and in energy companies, which fell with oil prices. The Dow Jones industrial average fell 239.11 points, or 1.45 per cent, to 16,253.57, the S&P 500 lost 27.37 points, or 1.39 per cent, [...]
UK wage growth slows as unemployment rises again September 9, 2015 Sterling fell to a one month low against the euro after data showed Britain's bumper wage growth has slowed, as unemployment rose again. Annual average weekly wages, including bonuses, rose 2.4 per cent in the three months to June, according to data released today by the Office for National Statistics. That's down from the 3.2 per [...]
Saudi Arabia is still dominating Asia’s crude oil market September 9, 2015 Saudi Arabia continues to be a major force in Asia's oil market, new figures from the US Energy information Administration (EIA) show – despite plummeting prices. In the first half of 2015, the kingdom's market share of crude oil imports into other countries on the continent remained practically the same as last year. [...]
Bank of England appoints Gertjan Vlieghe to the Monetary Policy Committee September 9, 2015 The Bank of England (BoE) has appointed Gertjan Vlieghe for a three-year term on its nine-strong monetary policy committee (MPC) from 1 September. He will take over from external member David Miles, who is stepping down from the committee after its next meeting on the 6 August. Vlieghe is a partner and economist at Brevan [...]
Bank of England governor Mark Carney says China turmoil won’t affect interest rate decision September 9, 2015 Bank of England governor Mark Carney has said that the slowdown in China's economy won't affect the path of interest rates for now. "Developments in China are unlikely to change the process of rate increases," Carney told an audience at an annual US central banking conference in Jackson Hole, Wyoming. His comments come after "Black Monday" where renewed [...]
Economic growth cooled off over summer, says Niesr September 9, 2015 The UK economy may have slowed slightly over summer, with a think tank estimating growth of 0.5 per cent in the three months ending August. The National Institute of Economic and Social Research (Niesr) said today that despite the moderation, which is on the low side of recent figures, growth remains close to the economy’s [...]
Asian markets soar, as Nikkei posts biggest one-day gain in seven years September 9, 2015 Asian markets soared this morning, and the Nikkei index topped the lot. Closing 7.71 per cent higher at 18,771 points, Japan's key index made its biggest one-day gain since 2008, when wild volatility hit markets. The Topix also made a big jump, going up 6.4 per cent to 1,507 points. Read more: Chinese dragon [...]