Abcam confident on China despite global fears of a chronic slowdown September 15, 2015 Biotech firm Abcam yesterday remained bullish on growth in China, despite concerns of a slowdown in the world’s second-largest economy. The Aim-listed firm, which makes and sells antibody-related products, delivered strong full-year results, with revenue up 14.2 per cent to £144m and pre-tax profit up 5.9 per cent to £46.1m. Growth was boosted by China, [...]
London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
National living wage for over-25s to have modest impact on costs September 14, 2015 Chancellor George Osborne’s new Living Wage, a higher minimum wage for over-25s, will be affordable to most industries but could severely impact others, a think tank said today. Around half of the employees set to benefit from the National Living Wage (NLW) are in industries where the resulting wage bill increase will by 0.6 [...]
UK public’s inflation expectations rebound from their record lows September 14, 2015 Expectations of inflation have bounced off record lows, according to survey data released by Barclays yesterday. The general public expect inflation to be 1.6 per cent over the next year, up from a record low of 1.3 per cent three months ago. Barclays has published its Basix inflation expectations figure since 1986. [...]
Eurozone industrial production accelerates to five-month high September 14, 2015 Eurozone industrial production beat economists' expectations in July, rising to a five-month high, amid a higher volume of energy, capital and durable consumer goods. Data from Eurostat has shown industrial output in the single currency bloc rose 0.6 per cent compared to June, and 1.9 per cent year-on-year. Economists polled by Reuters had been expecting a [...]
Shanghai Composite Index shares suffer amid disappointing Chinese economic data September 14, 2015 Chinese shares came under pressure again today, after disappointing economic data stoked concerns that the world's second-largest economy is losing momentum. The Shanghai Composite Index closed down 2.7 per cent, taking it to 3,114.80 points, also constituting the sharpest one-day drop since late August. Mainland Chinese shares have shed nearly 40 per cent since its [...]
Bank of England chief economist Andy Haldane will answer questions on Twitter today September 14, 2015 A member of the Bank of England's rate-setting committee, chief economist Andy Haldane, will be answering questions about how the central bank should regulate financial markets in the UK on Twitter today. Haldane, who has been touted as a possible replace to ousted Financial Conduct Authority boss Martin Wheatley, will conduct the Twitter Q&A from the [...]
Federal Reserve’s US interest rates decision sets alarm bells ringing over global debt timebomb September 13, 2015 Global debt levels have hit dangerous heights, a top financial group has warned, leaving many countries vulnerable to a US rate hike which could come as early as this week. Recent swings in global stock markets are reflective of deep underlying problems in the global economy, the Bank of International Settlements (BIS) said yesterday. [...]
UK firms suffer a widespread dip in growth September 13, 2015 The UK economy looks to have cooled off over summer with new survey data showing businesses growing at their slowest for two years in August. The figures will add to concerns over the economy’s growth which were fed by a slew of negative data last week. Lloyds Bank’s purchasing managers’ index fell to a score [...]
Deloitte: UK savers must find extra £10k each year September 13, 2015 British savers will have to find an additional £10,000 each year from now until they retire if the nation is to close the growing so-called “savings gap” between incomes and retirement needs, according to a new report from Deloitte. The firm forecasts that the savings gap could hit £350bn by 2050 – almost £32bn more [...]